The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-12-05

Worcester IL; Long leland Il Canton Ii East Boston u
Reading !; farmers Loan d Pennsylvan 5s Indiana
t; Kentucky /; Ohio 6s, 4; Illinois closed Arm at yes
terdays prices.
The message Of the President meets with general ap-
probation and has restored the onfdence OF the public
in the permanency Of the policy carried out BY tho
administration The position taken by the President in
relation the most important subjects that have occupi
ed the public mind for time past is calm but firm
and decided showing disposition bring all the exist
ing difficulties between this and other governmental to
peaceable settlement large part Of the message Is de-
voted to Mexican and Texian affairs and the question
annexation ably discussed The finances Of the general
government in a very favorable condition, and
disposed Of by the President very briefly II estimated
that the surplus the LIST Of January will not vary much
from millions OF dollars. The disposal Of this
plus considered by the Executive 10 be Of the most vi
tai Importance, and calls for Legislative ion at
once. 1t ssuggesed that sinking fund be created for
the extinguhment of the national debt and that the 60
vernment have power granted to enable 10 purchase it's
own stock in the market Any possible plan to prevent
the accumulation Of surplus ID desirable and
hope wilreceve the attention Of Congress- The 60
vernmen banks directed not to extend their opera
ions on the public deposits they may have consi
der the public money their possession any addition
to their capitals for the purpose Of making loans dis
counts; any Of the deposits for the extension OF
speculation will be Immediately followed by withdraw
al from the institution implicated This sound policy,
but it abused every day by the government banks Of
this city. 1t may be difficult to fasen the charge upon
any Of Them but feel the effects Of the operations
Of these banks In all departments Of business is pos
sibe the report from the Secretary OF the Treasury may
go into details the 81 stem Of distributing and
keeping the public deposits. ~
The legal notice has been given that application will
be made at the ung session of the Pennsylvona Legi
lature for the charter ofnew banks as follows
The Lsckawana Bank, at Centreville, Luzerno Coz
The York Savings institution in tho borough Of York;
with capital Of 800 900.
farmers Bank Of Clinton County, at Lock Haven, with
q capital of 500 600, secured by real estate.
farmers Bank of Schuylk County, at Schuylkill
Haven, with capital OF $4,000.
Farmers and Mechanics Bank of Dsuphin County at
Harrisburg, with capital OF 900, with the privilege
| OF increasing 1t to 100000.
Darphin Bank, at Harrisburg with capital of 5000 0OO.
The City Bank in the city Of Philadelphs, with capi
The Armstrong County Bank, Mt Kittaning with a ca
pal Of $4,000 with the privilege Of increasing to
100000, the stockholders to be personally liable for its
circulation. ~,
Notice has also been given that application will be
made for the re-chartering ofthe following banks:
The Girsrd Bank in the city of Philadelphia with
pitai Of ST. 500, 600. te
Bank Of North America, in Philadelphia with a capital
of ST., 000 600
The Western Bank Of Philadelphia. with csptal of
100000.
The Commercial Bank OF Pennsy lvsnia Philadelphia
with capital of 81 100000.
The Carlisle Bank, in Carlisle, with capital Of
100000.
This is very fsr beginning. Here applications to
one Legislature for an increase Of banking capital
amounting TO six millions Of dollars in SINGLE State
We have the least doubt but that many If not all Of
the applications will be granted although there is very
large democratic majority in both houses. This fact is
rather favorable than otherwise There have been
banks chartered by democratic than by whg legislatures
hoth mt huf 1egisla.
lures easily purchased, brbed bought up than
the whigs-hence charters for banks easily OBJ
tanned from democratic Assembly. The Legislature of
every State ia the Union will this winter be beset with the
petitions Of modern fnancers Tor banks, and the
banking capital Of nearly every Sts WILL doubt be
much increased. This is the first step towards the
panson Of the State bsnking systsm Of the country,
that must, unless checked lead to complete revolu
ton and levulson in commercial affaks
psrienced in this Republic The first seeds Of the last
vulson were sown in 1922 when Martin Van Buren, was
Governor Of this State in the establishment Of the Safe
t. Fund system. At that time the banks Of this city ep
piled for recharers, when the Safety Fund system
brought and accepted, merely for the % the banks
| supposing 1t merely temporary thing but it be-
came fixed plan, and extended the bH king CAPT.
tai Of this State enormously. Other States extended
their banking systems at the same time, and very
inAa eli movement Immediately followed, which result
| eu IN 1881, IN tne Suspension Oh specie payments,
and complete destruction Of credits and brtunes--
| The same plan has been commenced again. We see
movements made in Pennsy lvania-a bankrupt, delin.
quent. almost in fact, repudisting State, with an i'm
mense debt hanging and ready to crush the people
to increase the banking ita Of the State ss millions
Of dollars in The Legislature of Ohio will
no doubt follow the example, and increase the banking
capital Of that State ten fifteen millions OF dollars this
winter, by the establishment Of free banking law.
That State has an immense debt which il is hnrdy able
to control II requires the shrewdest fnancierpg pro-
vide the semiannual interest promptly, and we have
doubt but that the creation Of large bnking capital
| that State will hasten It's Insolvency and even
tually place it along side the clinquentf Fer
a time the greatest prosperity would, no doubt
exist; but speculation, &C. would peduce in time,
a revnlsion that would sweep awa7 the resourt es
of the State end make it bankrupt. This will
eventually be the ut Of the financial movements that
have been and will be made in that State Banking CAPT.
tall in this State, is gradually increasing under the free
banking law, and, in time, must be very great.
We annex table showing the total value of exports
| from this port, from January /, to Dec |, ls44:-
| Value OF MERCHANDISE EXPORTED FROM THE DsTRIcr
| or New Yonx reR ELEVEN MONTHS ENDING Lee. IsT,
| l544.
| Domestic mdse from Jan to July Si4 SIG a4
| Domestic merchandise, July. 49,. 15s45ib
Domestic merchandise, Aug. 49,. l,63l,297
Domestic merchandise, Sept. -. 26s5.6O6
Domestic merchandise, Oct. ...... ss7,ss3
Domestic merchandise, Nov. O34
- 2s.s7eoss
Foreign merchandise July. ....... $50 699
| Foreign merchandise, August. -. 1886
Foreign merchandise, September. 356 b2s
Foreign mere lsndse, October. -. 252 s65
| Foreign merchandise, November 252 2ss
- ss5s7s6
L
Total value Of exports for eleven months 1881 sis
Total value oil imports Tor eleven months 720e4 $40
L
Excesso imports over exports in months. $i352 7U4
The exports Of specie from this port from July - Dec;
/ 4 i.nfG rn ihc hnrn ham f.ll..