The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-02-04


It will be observed that there has been but trinng
variation in the aggregate movement Of these institu
tons The deposits appear to have fallen OF ore than
any other apartment The line Of discounts has been
uniformly maintained 10 far are able to Judge
from these reports but believe that the recent
sricons in the money market have been caused by the
simultaneous efforts Of the banks reduce their opera
tons to level with those reported in the November
returns II may appear to many hardly possible that
the banks could have such influence upon the money
market, when their returns exhibit such a uniform
movement from quarter to quarter The reports that
made to the Comptroller and published according to
law, do not give the public the slightest idea Of the
tua condition of these institutions or Of what their
movements have been within the previous three months
It is barely possible that the returns on the day they are
made out may approximate somewhat to their actual
condition; but change rapid and 30 great takes
place. that in foryght hours after the various depart
present an entirely different appearance.
The demand for money since last November has been
no larger than usual but the supply has been much less
and the article has, therefore, been The returns
Of the banks Of this city for February show about the
same movement as those for November last, but the
amount Of money aAoat the Hrst Of February, was
much less than the first Of December whom the con-
traction commenced, and the restrictions which have
since been SO severely iel first resorted 10. It
Is the impression in Wall street. that the discount line
OF the banks in that vicinity. full ten millions Of
dollars less on the 3ist day Of January than on the
3oth of November last, and il the condition Of the
banks on the day in November named could be arrived
at such would without doubt prove to be the case.
These fluctuations in the movements Of the banks
seen but they most severely felt They have
immense influence upon the operations Of commerce.
and seriously ipjure the commercial classes a. they in
measure depend upon these institutions for facilities
These Sudden mutations and contracons are the ruin Of
those who any time induced to extend their bust
nsss upon bank credit The brokers generally suffer
the most when the banks determine upon great and
rapid contraction their loans are usually on demand
their securities the first affected by any ghsness in the
money markets and when tho the greater
the difficulty in realizing the greater the contraction
in the money MARKET the greater the decline for quota
tons In stocks All classes suffer more or less BY the
contractons and should be the first thing that receives
the attention Of the Legislature The attention of the
Legislature has been called to this question by the banks
themselves They have applied to that body to be re-
hsved from the quarterly reports, and We trust that
proper measures will be taken to have the whole affair
thoroughly investigated, feel satisfied when IL Is
seen how many abuses have been prsctsed under the
present law, that great and radical change will be