The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-05-21

These prices very firm as holders were not dis.
posed sell at lower rates in consequence avices from
this side being Of favorable nature The great
abundance of money is another why American
stocks command good prices compared with those pre-
vously current The movements in Pennsylvania at
the sailing Of the packet of the inst from this side,
were attracting the attention Of bondhoders in Europe
and capitalists anxously waiting further advices
Judging from the immense amount of money in London
seeking investment in foreign securities it appears
dent that the first favorable report this couny in re.
laon to our State stocks will create enquiry for
securities and raise quotations above the present level
Counterfeit tys of the Bank of Charleston c.. are in
circulation at the South Their appearance is calculated
to deceive.
The last quarterly return made by the banks of this
State brings to light movements that indicate systematic
expansions and general increase of paper money Ee-
mens are at work avoring speculation The position of
the two great political parties of the country, in relation
to the approaching Presidential contest bring for
ward the currency question: and the probable establish
men of another national bank, should the whig party
gain the ascendancy The tariff question is out of the
way Neither party cen lay claim to any credit dis
credit in settling that subject. 1t required the votes of
both parties to create the present act and required
votes of many democratic members to lay the proposed
substitute on the table Consequently neither party can
coin capital out Of this This being the case the
great question that must divide the two parties in the
Presidential campaign is the currency In parts OF
the country national bank is already talked Of II has
already been laid down principle of the whig party
which they willing to stand fall Neither of
the two political parties of this country possess sound
principles regards banking One has, heretofore been
in favor of United States Bank and the other in favor
of State banks-both equally powerful in producing
speculation and deprecated currency The most ultra
specie currency advocate is in the other extreme. The
middle ensures the greatest safety, might
say the present system of banking, with few
strctions and checks would answer all the purposes of
trade and better than any have heretofore
had The existing system of banking has established it,
self It is all that is lett OF general wreck Of the most
inflated sysem that any country experienced. The
banks in existence have passed through ordeal
that has purified them thoroughly, and left nothing but
what is valuable Many sections of the country still
aborng under the effects oformer expansions in the
rency, but yet healthy recovery is going The
circulating medium, in many States, is at this moment
real specie standard than before within the
history of the country Whatever question is agtated by
political parties alterations in the banking sys
TEN proposed to create political capital they
naturally have very injurious influence the system
in existence, and induce calculated to
fate the currency for the purpose Of establishing
power to act against any bank that may be brought
into existence by the ascendency of the wing party. The
open carried between the State banks and the
United states bank in 1884 and 1885, the principal
Of the immense initiation in bank issues it war
of determination to party and Of ruin to the whole
country We think the same elements are at work
that spread desoation the whole union The
State banks look with suspicion upon any party advo-
eating National bank All the power they possess will
undoubtedly be brought to bear upon the issue. Should
they fail in destroying the party favorable to such an
stution have every to suppose that the
will be resorted to that proved successful
former years The results only be produced by
the causes. and these the extravagant
speculations and immense bank expansions
We comparative returns of the loans and dis
counts Of the banks in this city since last August. will
be observed that steady expansion has been going on
from that time to the date of the last report.