The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-02-23
MONEY MARKET.
Thursday, Feb. X2-0 II. M.

Thursday, Feb. A2-0 r. M
Inc stock market to-day presents new feature
Prices were very huctuang but general thing, we
think we notice an Improvement. Mohawk advanced
per cent Harlem dol Ohio SIS do. Farmers Trust
Indiana declined Pennsylvania SIS i; North Anne
rican Trust Long Island Norwich Illinois and vicks
burg closed firm ut yesterdays prces The sales were
only to a moderate extent.
The Petersburg from Vera Cruz has brought $50 900
in specie.
We learn from Trenton that resolution has been intro.
duced into the Legislative Council Of New Jersey
peal the charter OF the Paned Bank the ground
it is not in fact bank of the staiet being owned and
its business carried out Of its jurisdiction There is
not much doubt but that thsj bill will pass and this nst
tuition 80 out of existence It was got up by clique oil
brokers in this city, for the purpose of creating
cy to shave notes WITH and who confne their dscounng
operations particularly the mechanical classes, who
obtain short and small loans at large per cent.
tain amount of Plsned money will be loaned to ind
vdual upon his giving his check obligation
the amount in ten twelve days. in funds This
amounts to about per cent month"; and still keeps with.
in the limits of legality The people of New Jersey suf
fer by permitting the charters Of such institutions to
aiiay The circulation of banks simarIo the Painfed
is considered the paper currency of New jersey and
teammates the issues of every solvent bank in the State
The President Directors Cashier and stockholders OF
this bank reside in this city, all their banking
business here 1t is possible there may place for the
redemption of its bills in New Jersey, but imagine it
woudsbe very difficult to find it. II is institution similar
IN all its movements to the celebrated Monmouth Bank
OF the same State whose history still fresh in the minds
OF many sufferers. The banks of New Jersey actually
solvent have great difficulty in sustaining the confidence
of the public in their bills and should be no effort
LETT untred to destroy the charters of institutions similar
to the one above alluded to- There are banks in this
State, the and officers of which are brokers in
Wall street, who push into circulation all the bills and
post notes they get rid or by the most roundabout
financial operations and then suddenly disappear,
leaving their bill holders to make the most of their
beautiful paper promises The change in the times
and the return of prosperity will create great
many of these money making machines, who will get
fat by rlunderng the innocent bill holder People must
learn by experience. When we see institutions, like
the Painfed Bank ofNew Jersey putting forth crcu-
aton that passes into the channels of trade after the
Of financial fraud and swndlng that have lately
existed resist the conclusion that the largest
proportion of the population cannot draw that distinction
In the value OF paper money that successful business
quires and that the evils they suffered from once
do not retain that hold the memory sufficient to pre-.
vent repetition. Judging from the existing state of
financial matters it looks very probable that speculation
in banking will come up in regular order with other
bubbles and unless the public mind prepared for the
they will be thoroughly eeced before they are aware
it. All bank bills should be severely scrutinized first,
because they may be spurious the market is full of
such paper and second, because they may represent
an institution that never had being, except in name.
The Manhattan Gas Light Company have declared "a
dividend ofthree per cent payable the LIST proximo
large number counterfeit three dollar notes of the
Bank of smyrna Delaware, have lately been put cir
culaon in Philadelphia They well executed, and
well calculated to deceive.
Receipts Of the Massachusetts, Western Railroad for
the seventh week in ls43. 1874
Passargers .......S2,5l So
FrsIshi, Nc..s. 2O38
$3.50 sslI5
Showing increase of about ninety per cent over the
same period in ls43.
Exports Of domestics from Boston for the week ending
the 18th instant -
Bales. Bales.
To Africa 80 TO Sumatra, 90
To w. Indies, 30 To 8. America, Total, 90 bales
Annexed we give table Of the amount Of bonds and
mortgages stock notes. and loans to brokers' of tn.
banks in this city, compared with those ofthe country