The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-06-16
'rArIoSs FOR THE PR,scIrAL srocKs IN THE NEw YoRS

comparison Of prices current at the close of the
ke yesterday, with those ruling at the close of the
vious Saturday shows improvement in Ohio 6's OF
per cent; Kentucky SIS per cent? Pcnnsy lvanta SIS OF
per cent? and decline in Long Island of per cent? Can
ton 81 Farmers Loan l.; Norwich and Worcester l j
stoningon a IT, Bank per cent; Morris Canal q and
East Boston do.
We predicted, many months since that the rapid &C
emulation of a surplus in the deposit banks
would be the of great deal of difficulty in CON-
mercia matters, the of trouble and embarrass
mcnt to the political party having control of such large
of deposits and create much jealousy and rival
ry among those having and anxious to obtain the OF
the deposits The deposits at present amount to little
more than eight millions of dollars, of which nearly
three deposit in this city, in the several deposito
res. This amount is too large and its disposal able to
command too much influence to suffer it to remain
Improbable to the administration and will no doubt be
used to increase the political power of the government
We should Judge from the tone Of the organs of the adj
mnsraon that the of 1880 and 1881 were about
being repeated and that the removal of the depostes
from some the present repositories and distribution Of
the revenue in greater number of places cons'
cred necessary bring about the desired result The
New York organ Of the government having been very
successful in bringing about the removal Of some Of the
most valuable public officers in this city, and in other
measures has advocated is attempting to influence
the disposal of the public moneys to strengthen its poll
teal position, and give official character more po-
tent than previously enjoyed The clique it represents
must possess unlimited control of all patron
age in this section its appetite will not be satisfied
whether their efforts in relation to the public deposits
will as successful their disposal of the Offices in
this city has BEEN time only determine; bnt the
Secretary Of the Treasury is much restricted in his
movements far the deposites concerned, that
we have hope Of no changes being made endanger
ing the safety of the public moneys The Washington
organ of the administration states that the Secretary
will not attempt to violate evade the law regulating
tho deposes carry out any doctrine he may entertain
nsnuates that whenever the democratic party comes
into power in the two houses of Congress- some change
will be made in the dcpositc bank system.
It is also stated that the Secretary Of the Treasury is
embarrassed by the provisions Of the act of June nth
1874 recognising n certain extent the existing depo
site bank system and declaring that changes shall be
made except for noncompliance with the instructions of
the Treasury Department, the failure to furnish su
cient security" This law may prevent the Secretary
from submitting tie demands ofthe party othe clique
in this city but refusal will not discourage from
nung its incessant application for the disposal of
important influence in advancing the cause IN this
section The deposites removed from the U. States
Bank in 1892, in consequence of the immense political
influence it asserted they gave the party holding
Them opposition the party in power and placed in
a great number Of institutions, in all parts of the coun.
try for the purpose Of giving the administration power
hundred fold greater tina" that held by the opposite
party when the depoes in the United States Bank
and branches At that time the depostes amounted to
about millions of dollars and the excitement Great
ed by their removal intense. The disposition made
of them after the State banks obtained possession led to
the tremendous specuatons of 1885 and 1886, and the
revulsion in commercial affairs in 1887. change in
the repositories now would produce the move
ents in mercantile that followed the removal in
1882 The depositc bank system Of the present day has
not led any very great speculaons, for the best
in the worl and that is the want Of surplus
nue. Last fall speculation to extent carried
in iancy stocks but it subsidized without affecting
commercial affairs; but there is danger Of speculation in
staple article OF trade being carried to great
tent SO long the deposits continue large The dis
,rbution of the deposits in every section OF the country
and an increase in the number Of repositories. does
insure safety but the contrary subjects them
to a more extensive employment in the mercantile
movements of the country, attended with dangers o.
being absorbed by the bankruptcy and insolvency OF
those whom they loaned The declared object ofte
of the deposits in to place the deposits in
safer repositories previous TO the winding up Of the
affairs of the United States Bank but the removal
suited in the loss OF millions to the government through
the rotenness and insolvency of the institutions in which
the deposns were MADE. we are not prepared 70 say
what would have been the result had the deposits re-
manned in the United States Bank but we know that
serious losses wero experienced by the government
after they removed to the banks selected by speca
agents as repositories.
This subject has been recently gated for the purpose
Of bringing about change in the present system
to increase the political power Of certain clique in this
citybut trust the present systcm defective as II
undoubtedly is will be enforced until Congress can per
feet plan providing for tho disbursement and safe
keeping of the surplus long have one
The value Of merchandise imported into Boston for
May 1874 and is45. was annexed:
COMMERCE PoRr BosroS.
May, A. May, rs. Incr Deer
Dutisble goods. 81 ,569850 l6,3,02a l05, l78
Free goods. 1921 1892 1862
Value Of mdse. S2,0l9l2f 2,l0i,si0 8j1l6
-.
Tsaal value Of impts 81, a,573i 2il5o60 100 7ej
Duties. 320225 J22G3i 1856 -