The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-10-03

year n as It probsbly viii ~ ~ any time With. the
next three years. We upon the Of change in
kns ncia affairs and It Is the opinion OF some Of eur
shrswdef observers that within the next six months
there will be contraction in the market that will ad
vance the rate f interest far beyond the legal STAN
dsrd and compel to submit to sxorbitsnt shave
in supplying their wants The demand for money Is
irsrrasipg in every part of Europe particularly In
England and 1t will soon be much greater here than 1t
las been for time We have not paid for the bulk
II our importations yet, and the payments Of
merchants have hardly yet commenced. Their pur-
sbafss In the spring made Elk and eight months
credit and the given for them has not yet fallen
due. very large portion OF our foreign imports
not paid for until the closes, until they
sold, and the time is approaching when remttauoes
TO very large amount will have to be made. AS the
demand for money increases on the other side there
will anxiety the part OF the agents of foreign
houfe remit and that win create inquiry for
money which has not yet been experienced this season
The meeting Of Congress and the different leaisla-
lsurss throughout the country the agitation Of the
various questions affecting our financial and CONNER
ssl policy tho position Of foreign relations and
the uncertainty that exists regarding public affairs
generally. cannot but have depressing effect upon
our markets and induce thefe who have capital in
vert to be very cautious where they put It, aud what
prices they pay for stocks Those having idle capital
seeking employment fer it, look In times like these for
safety much as profit Capitalists know not, when
they purchase any stock how long they may feel dpos
ed keep It, when they may find better for their
money, and want to sell 1t Is therefore, highly i'm
porsnt to them that they should place their money
where they can get it sgain at any time and at the
shortest notice, without being forced to make soy
Sacrifice; and 1t impossible to do with any Of the
stock securities Of the day, at current prices The
future is full Of uncertainty, and we by means
peafed with the appearance of the financial and
mercial horizon. The government seems determined
TO sgitate our foreiga relations, and II We do
not get into difficulty with foreign power
It will not be the fault Of the Secretary Of State.
While there SO many things in the prospec-
tive, calculated to disturb and dersngs public
affairs both foreign and domestic It would be well to
be exceedingly cautious, and withdraw much
possible from ell doubtful investments ilIegitmate
bu operations and make everything snug for the
approaching storm II 1t should pass away In another
direction, become dssipated before it reaches
there will be harm DONE and in the autime 1t will
b source Of satisfaction aud peace Of mind, to
be on the safe side
question of some impor lance TO the Of the
State up for decision at q recent term Of the
Common Pleas Court in Ohio.
This question upon the Goth section Of the
Bsniips act OF 1s45-which provides that each bank
ing company SHALL semiannualy, the day dssigna-
ted declaring Its dividend "set of to the State six
bet the profits deductiug therefrom tho
psnss and ascertsined Losses OF the company
six months next preceding which sum amount, 50
set OF fhall be In lieu Of all WHOM such com
papy would otherwise be subject
Some OF the banks 20 construed this section to
consider the six per cent, payable to the State .
part Of the expenses and t. be deducted the semi
annual profits and set of to the State six per cent
tho rrsiduum Of PROFITS after such deduction To set
tie this question, suit brought by the State
sgsintt the Franklin Branoh In Cincinnati OF the
A~D 10 daAn h. S}y
The Cont held that the six per payable the
State not tn be considered Of the
o. tho hank but rather part share Of the div-
6snd Of profits, and gave judgment for the State
eordpgly.