The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-02-13
MON EY MARKET.


The first annual election officers at the new board
takes place tomorrow Monday, at 81 o'clock A. M. The
board will probably be organised as heretofore After the
election they will proceed to business at the usual hour
1t expected that as the association one and 10
now been in operation some time the President elect will
AXE an address in relation the operation prospects
OF the concern, and how far has hitherto answered the
expectations of the projectors The attendance will pro
badly be large.
The Eugenia from Vera Cruz brings $25 in specie
At Mobile, on the I'd instant specie had risen to 40 per
cent premium.
The general state of money affairs is much pro-
missing Where capitalists convinced of the stability
o an investment they promptly forward in the
of the Massachusetts, stock taken by Mr. Aston on
Friday Sc 40 l00 and Of the remainder of the United
states loan, which taken up the in
Congress killed the Excheque plan, and the project for
issuing asssnats the public lands. All the dsrust
now apparent State stocks has grown of legisla
tive action. Stay" and reef laws the part
States, and assumption" and issues paper money
the part of the federal government ell species Of
pudation, which by infringing the right OF property
strike at the root Of the whole of society," and
makes every tremble for his accommodations in the
hands of others While it is proposed in Congress to
leve certain States, by compelling the citizens Of other
sateso pay part their debts to those States attempted
to be relieved, passing stay and valuation laws
of their claims, but prevent the States from col.
lecting their taxes The only manner in which
States and the people be relieved and credit restored
Is to enforce the right property in all and instead
Of deprving the creditor of his rights give him every
facility to realize his claims As it ismoney longer
be loaned with safety AMI is slowly finding empoy men.
in actual purchases The Banks are now the greatest
buyers of bills for the import of SPECIE which yields
them profit. That specie with the opening spring will
And I'M
Of their gut Of produce and raise the money prices by
cheapng the currency in its relative value to- products
The advocates of banking deter mined, however,
that there shall be prosperity without Banks because
without those instruments of corruption those only can
obtain wealth who it, II has been stated that the
most important function of banks is that they are the
medium through which all mercantile operations of the
country The Courier Of Saturday. states
al follows
"Near the commencement Of the year lS40 which year
we only take because the official return of it lies
us; any other will convey the same dea-hat document
gives the loans and discounts OF all the Banks the Un
ted States at 000 which, supposing them to have
sixty days to sives an annual amount Of loans AMI
discounts of less than - 100000. BY the last
census othe United States the amount ofcapal
in the United States in various branches Of industry is
about $500 900. Now, there few whose debts
and in the course OF the year do not exceed four
or ave the amount Of their capital and these pass
through the hands OF the Banks'
Tho United States Bank was considered commercial
institution par excellence. 1t the great regulator
without which, its debtors considered the world would
come to an end. When that stopped, its dis
counts were $20349 079 out Of of assets The
rest were all investments in real estate stocks Sc Now
according to the Courier the mercantile facilities should
have been sl2l 100000 per This is the theory
What are the facts The investigating committee stated
that Of the s2ooOOOo seOoo,ooo were active, and
S suspended On the condition Of these accounts
the committee remark =" In regard to these two lines
therefore, the committee will content themselves with're-
marking that but small proportion consists Of regtia
mercantile discounfs.'
Here them OF assets OF ses 600 Ooo which, accord.