The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-23
CINCINNATI, Jan. II, 1913.

CINCINNATI, Jan. IL, 1913.
Money Matters-Ohio Banks-Political Intrigue
and Prognosfics-Go Gossip, &c.
The all-absOrbing topic is the currency. Pub
lie confidence has been severely shaken by re-
cent events, aud business men are consequently
timid as roe. The truth is, there is good
cause for this panic-if such it may be called. l
do not consider our banking system the best ever
devised by the wisdom of man, ''by long shot"
The basis of capital consists entirely in State
bonds, placed in the office of the State Auditor;
and in the event of suspension or failure, the
holder of the notes can get nothing until these
bonds are disposed of. There is no other means
of redemption. Now, if the banks issued no
more paper than the amount of bonds deposited,
their notes would be ultimately redeemed, but not
without loss to the public. Do they, however,
confne themselves to this standard Time will
prove.
The banks of this city are doing very little
business. | doubt whether the great pressure
produced by the general suspension some years
since, was more sensby felt than that which
now prevails. The very best paper-except that
Of the favored few-lies unnoticed on the table
OF the directory.
have not the least doubt that well regulated
banks, judiclously and impartlally conducted,
are promotive of the public good; but how few
are so managed Believe me, sir, It's not so
here. Go with me to that splendid mansion on
Fourth street. See the taste and elegance with
which it Is surrounded-,the luxury that prevails
within-all betokening the presence of wealth
The owner of that splendid residence is an ex-
tensive dealer in real estate. His bonds and
mortgages would make a small duodecimo vol
ume. His lots lie unimproved and useless
He adds nothing to the growth of the city, but
is ga drawback" upon its onward march to
wealth and glory.
Not more than a squares space from this resi-.
enterprising mechanic The din Of rafting ma
chinery is heard in his small mandatory from
morn till night. He gives employment to more
than twenty families, and adds not a little, by
his industry, TO the manufacturing wealth oil the
city. Give that man fair field" and proper
encouragement, and he would do more for the
city than twenty wholesale dealers in real es-
tate
Now, let us follow these two characters to the
- bank. The wealthy "drone" is received
with smile, and his note promptly discounted
But how is it it'll the industrious mechanic !
He is told-in the blsndest manner possible
that money cannot be obtained, notwithstanding
he has presented the best endorsements. eve
are dscounting no paper. Would be glad to &C.
commodate you, but really, sir ~ The disap
pointed mechanic waits not to hear the conclu-
sion, but turns away with a heavy heart, and
gloomy forebodings. Such, sir. is practical il
lustration-founded on fact-of the miserable
system of favoritism with which our banks are
conducted.
CinCiHuati Hidy uo ConslueISu as INC CcHtIc vi
political intrigue in the West. The wire-work-
ers here are as busy as bees. Nightly conclaves
assemble frequently and no stone is left un-
turned by the different factions; The friends Of
Judge Mclean, led by Judge Wright, of the Ga
sette, and Auditor John Woods, not satisfied
with the GOODNESS with which his name is re-
ceived, still hope that something may 'turn up'
which will secure him the nomination. They
will, however, be compelled to ''surrender at
discretion" Corwin will be nominated by the
wings of Ohio; but am inclined to think he
will not accept the "thorny crown
Colonel j. b. Weller, who fought, most gal
lantly, too, at Monterey, is the democratic can
didate for Governor. He is war man, "out and
OUT" and in this respect fully represents the
sentiments of the Ohio democracy The wings
her, prominent whig and most excellent
man, had "some preiension" for the gubernato-
rial nominations; hut being slightly ''Iinctured"
with the war spirit, prescription has already
done it's work, and the hopes of the gallant colo
nel forever blasted. In The State convention,
the COrwln VIII Is will carry every thing their
own way
Business is exceedingly dull Money is
scarce, and all but the brokers, who readily loan
their funds at two per cent per month, seem to
Or IDLE. The pork packers are about winding
up their "winters toll" with little prospect OF
reward, the "swlnlsn commodity" being worth
only so 80 So 10. Flour Is duh at 81 IS.
A duel ''came OFF, on the Indiana shore, be-
low this city, on Saturday last, between pair
of chivairous Kentuck ians--Mr Duke, of Scott,
and Mr. Hanson, of Frankfort, | beheve-ih
which the latter received bali in his thigh
To use the fashionable phrase, the difficulty was
then amIcably settled. WESTERN