The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-06-17

SALTS OF STocKs IN ssroN, JUNE 49,
Is shares Boston & Worcester Railroad, withdrawn
20 " Western Railroad, $73f per share.
81 Boston and Maine Railroad, at auction and pri
vae sale, sos per share.
20 Boston and Maine Railroad, new, no offer
10 Charlestown Branch Railroad Ss6 per share
10 Portland Saso and Portsmouth Railroad, $50
per share.
80 East Boston Company, sIlIper share
o Merrimac Manrg Co., $50 per share.
a Manufacturers Bank Georgetown. no offer
$600 Equitable Safety Insurance Co. Scrip oa4 Der CT
AMI $4,000 private sale So per cent ~
$1,000 U. 6s, withdrawn
The moveme nts going in commercial affairs of this
country somewhat analogous to those preceding for
years Of speculation and think the elements
at work that eventually produced much distress
1887 and 'ss The tariff of ls42 resembles in great mea
the tariffs of 1928 and 80 and the limitations in the
currency that followed the passage the tariff 1897 will
produce the evils and call for the remedy In
1928 tariff law passed levying very high duties on
most Of the principal articles of import The South and
other sections of the country dsagreeng wit the fea
lures of that bill suffered patiently the unequal burdens it
placed upon them for long time until forbearance
longer virtue and the suppressed spirits Of these
sections burst forth in general opposition to IT, Alter
desperate efforts the part Of the trainers Of the bill
sustain its unjust provisions, they finally submitted to
compromise OF The tariff and perfected in conjunction with
ths South, liberal scale of duties tho sliding
principle, which at the time called end has been
Known since ms the Compromise Act OF 1882 The average
rate Of duty enforced by that act at its
little less than the average duty under the tariff Of
1898 but the reduction to be very gradual having
ten years to reach average Of twenty per cent -
The high tariff Of 1923, with moderate imports,
produced very large revenue, which, with tie other
resources Of government paid of the national debt
leaving in 1892 surplus TO the credit Of the gov
eminent In the bank Of the United States This in
nection with the remonstrances of the South against the
injurious arih laws of 2s-was another strong argu.
msn in favor oil reduction OF duties and helped along
the adoption oil the compromise During the existence
of the high and unequal tariff of 1898 while was annu
ally placing deposite in tho Bank of the United States
millions to the credit of government the contest between
that institution and the State Banks commenced for the
possession Of the government money The amount had
already reached sum desirable handle and the war
ragged iurously The state institutions were abv second
cd BY the executive and the result was tho ve,o If tho
Bank in Is2 giving four years to wind up TIA affairs
before the expiration of the charter The dcposes
removed ia 1892 with injunction from the Execu,v
the state banks receiving them to extend every 4.
ey TO N. communities in which they were situated In
the way Of discounts and mutations of the currency
These Instructions fulfilled to the letter; the
ifhations previous to this movement were very
great, and they afterwards On the other
hand the Bank OF the United States instead of steadily
drawing in ito Issues and gradually winding up ito sas