The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-11-24

in socks stocks of those Staestoo that are the
most rabd regulators English capitalists were eager to
seize the slightest favorable report from this country The
speech Of Mr. Webster had more favorable influence
the Atlantic than had here The revolution in
public opinion in this country on the subject of repuda
ion has been great that individuals interested have
taken the asring JUNCTION to their souls that all the
defaultng could pay disposed they would The
late election in Mississippi will have great moral effect
the first voice Of the people through the ballot box
The antbond paying candidate for Governor is probably
elected and this event will have great influence in the
legislatures OF other States during the approaching winter
The fact will go to Europe and create reaction in conf
dence that will defeat all the endeavors of the State com
that have lately been made redeem their iab
ties In the present state four credit abroad holders of
stock are very sensitive; and fact like the above
given will destroy what little faith they had left in
good intentions. The loan to Illinois, that has been
long under negotiation yet stands very precarous
ground Notwithstanding the document containing the
terms has been signed by Messrs. Hope and Co., Messrs
Barring Co., Messrs. Magniac, Jardine Co.. and the
Rothschd there still to be considerable doubt
whether the negotiations will be followed by any practical
results Only two signatures besides those of the firms
above Named have been obtained although the stock is
held by many individuals The adopted by those
who have sgnedthe complete want of confidence in the
statements of the sending out agent
and engneera show what little faith they have in
publican credit integrity Another discovery has lately
been made the effect Of which will be confined to the
limits of our country but it will tend to ruin the
credit of the State concerned abroad The legislature of
Ohio authorised the Fund Commissioners to negotiate
loan in this city for 81 O00 at per cent to pay ohe
domestic creditors of the State Estimates Of the amount
due made by the Board of Public Works and in
thorsng the loa the Legislature made liberal allowances
for contingencies 1t appears that checks have been
issued to the creditors by the Board of Public Works for
an amount much larger than the appropriation. This
adoption of power by these individuals their
false movements whether made through ignorance de-
sgn another of the many acts of the peoples servants
that have fastened upon them the calling epithets from
other nations that affect this country at large The over
issue was for debts actually due but in the to make
the issue lays the danger The amount said to be quite
large-reaching Sl50,0OO. The State of Ohio will
have to husband its resources maintain its credit at
home.
French paper after analysing the constitution of the
United States of America in long article, suggests that
as none othe great powers of Europe think expedent
take legal proceedings against the defautng the
American Union for the recovery ofthe debts by them
fearing by such proceeding to produce crisis that the
only means by which the Union could be Withdrawn from
the Illuminating position which at present occupies,
would be to induce some of the minor powershe Prnci
paly OF esse Hombourg for exampe)-to institute legal
proceedings in the Supreme Court of the United
the recovery of any part Of the loans contracted by the
States of the Union that remain unpaid The position
adopted by the States this Union boldly regulating
immense debts, is modern principle, that the honest
of Europe wish test the strength of the plan by
appealing to the only power their acquaintance with
constitution suggests.
The prices Of stocks orepudatng States this market
are at present much higher than usual in consequence of
the abundance OF money and the spirit of speculation
general through Wall street. Their value has not in
creased for not one' Of them has shown anxiety or
disposition to pay; and much doubt whether the legis.
ature of those States the deepest trouble have nerve
enough to pass the necessary laws required to
their former position.
States acknowledging their
indebtedness but notpay States repudiang part Of their
ing interest. VT. Indebtedness
Maryland, Illinois, Michigan
Louisiana, Arkansas Florida Territory.
The amount repudated is $40, 800 900, with the interest
on that amount for several years half of this amount
is against Mississippi which they again refused to
acknowledge, by taking the popular vote of the State
date ' who pscsa rs eodn a Oh SSsS and the can
nearly three thousand majority Holders of Union Bank
bonds may consider their value settled they perma
nent investment.
The Indebtedness of the State fPennsy great
that the of her population must be increased i'm
mensely to meet the interest the present amount
Great efforts will be made in her legislature but the
weight is already too heavy that lays about the necks
her people, and have not the slightest hopes that will
be increased With debt larger than that of any other
State in the Union her population unwilling to
be taxed We chance for the Rev. Sydney Smith
Specie is daily arriving at Mobile and New Orleans
from the north particularly from this cy 1926 900 ar
riv ed the 18th inst from New York. and S37 900 from
St. Louis; $4,000 arrived Mobile, $4,000 Of which
for the bank and the balance for commercial firms
large amount of the issue of Treasury notes has
been received in New Orleans from this city The Gus
tom House demand nearly satisfied but they were in
request for northern remittances
The late law passed by the Legislature Of Ten
nessee to investigate the Bank of Tennessee and
its branches, is very rigid; each branch has
setof commissioners, whose duties confined to
the branch The law requires immediate report,
which must be very full containing every detail
sary to give the public all the information necessary
give them correct insight into their condition This is
right This investigation the banks should have demand
ed; they only retain the little confidence the public
have in them by giving the greatest publicity to their
CENTRAL BANK OF GEORGIA, Nov. 6, 1913
U surplus .a2 Bank notes. checks 2es 1888
Profits, Go 1856 State Bonds, 1876, 3i6
Circulation 1882 Bank Stock, 58i 800
State per cent Bonds, 52OA ComW Atlantic r. 4O9078