The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-02-03
MONEY MARKET.

The new board of brokers commenced their sngs to-
day at No. 10 Wall street. They assembled at lOH o'clock
and the proceedings opened by the President, Col
Alexander Hamilton with appropriate speech, to the
effect that the association had grown out Of the tmesha
it is phase of the revolution going forward in the
mercal worldhat he had taken the Presidential chair
matter Of principle than from any other motive
He felt that the principles contained in the regulations Of
the Association were such would merit the support Of
the pubchat by sitting with open DOORS it would be
manifest that their business would be conducted fairly
and aboveboardhat what he considered just standard
of value would be formed for the securities upon the
ketthat they would be beyond the reach of associa
ton with closed DOORS to raise depes pleasure The
constitution and byeaws then read and they pro-
ceeded TO business the results of which annexed.
There were twenty-five members, and about thirty
spectators, who will hereafter be admitted entirely
free. will be observed in comparing the two lists of
sales that the prices vary good deal New York 6s
sold per cent higher at the Board; Illinois 6s
of 1870 sold per cent lower than at the old Board and
less than they be bought for of DOORS Ohio 6s
offered the Board g. sold at the old Board at
67i There change in the market prices as com
pared with yesterday except that Illinois per cent
Sales of Illinois Canal 6s of 1860, made privately
at y.
The Bank Of New York has posted up a notice to the
effect that ell hereafter, will be discounted at per
This important move, and indicates the rsple
ton Of money with the banks The better descriptions of
paper cam however be done at per cent The bulk of
the paper offering for discount the of specie
importers given forbs Of exchange the present low
rates.
Another instance legal robbery and Judicial repuda
ton has taken place in Missouri where the relief" party
have riumphed in the Legislature law has passed Civ
ing indirect but effective stay upon all executions for
twelve month";. The majority in its favor large. II
commanded nearly the full vote Of the Locofoco party
The only good feature in the u s. bankrupt law is that
which enables the creditor to compel bankruptcy and the
rendition Of the debtors property. But in this the
injustice and othe law becomes appa.
parent because the creditor clause operative only for
claims $4,000 subectng poor creditors who are least
able to lose their claims to the ruthless of the law
in favor Of voluntary bankrups and gives them no rights
to enforce against involuntary bankrupts, who shelter
themselves under the dsgraceful demorazing and de-
structve "relie laws State which passes stayn or
"relief" law, virtually egalizes reputation. With what
shadow oustice any State claim the pay
ment of uniform taxes when has authorised those tax
payers to deraud their individual creditors The same
political weakness which induces short sighted partizans
to seek heeng popularity by pandering the knavery
of SPECTATORS and the wants of the embarrassed at the
expense the industrious and frugal prompts them to dis
courage taxaon and TO seek paper ugges under the
Of assumption" and distribution, the msans of
avoiding the question ofaxation which theydare not meet
II is this which fills the halls of Legislation with schemng
specializing, shutting lawyers, who the people
with phantoms for relief the meretrcous
reputation which produces. As these bubbles rise and
explode, the people learn to value those whose well
grounded principles and tried integrity enable them to
face difficulties, and apply the proper relief fearless Of
consequences.
Books have been opened at the South Western Railroad
Bank at Charleston for the depose Of money the credit
ofthe Treaurer Of the United States, subscription
United States per cent stock redeemable in twenty
years from the LIST instant transferable only on the Re
gsters Bookswh coupons for semannua interest paya
BILE as may be designated Charleston the Treasury or
New YORK. on the LIST day of January and July will be
issued in sums Of $1,000 s. 900, So 600 and $4,000
The table below will exhibit compars view of the
resources and liabilities Of all the chartered and free
banks for the last two years. excluding the La Fayee
Bank in the city ofNew York. the waorvlie Bank the
Clinton County Bank the Bank Lyons also the North
River Bank, whose charter has expired and which has
since gone into operation under the general banking law
together with the James Bank the farmers Bank of Ma
lone, and the Manufacturers Bank Ulster, which las,
named association did not make any return last year.
BANKS STATE or New York, FREE AND CuAn.