The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-09-24

MONEY MARK EFT.

ADVANCE Nicaragua Iransit Is moving upward full as
rapidly 1t deprecated The shorts in this stock will
find themselves before the ispse Of many days an up
pleasant position There is very strong party Of pur-
casers in the street and they put prices up any
point they please. North American Trust does moi ad
vance very rapidly the sales to day larger than
usual Cumberland Coal is firm, and stock pressing
on the market At tho first board day Nicaraxua ad
vanced IN per cent; Dsaphin. Il; Cumberland Coal, A
Edgeworth, r.; Erie Railroad, Il; Harlem AZ Stoning
ton. "a. Canton Company declined u per cent; North
American Trust, al Hudson Railroad, l. At the second
bonsd Nicaragua went up = per cent Edgsworth de-
clined r.. Harlem freely sold at prices current in
the morning. Nearly four thousand shares sold
All the tales Of Nicaragua for cash which looks
though the bears were taking in OF their shosts
The receipts at the Office of the Assistant Treasurer
of this port to day amounted to $l29 1876 g. payments
s.01716 43-balasce, S., 056 $50 70
The attempt recently made to get up wild cat paper
currency similar to that which existed ten fifteen years
since has signs!y failed and the OF the
District Of Columbia adopt proper for the pre-
rentiop Of another effort the part OF certain
similar to that just made shall probably escape anoth
er infection Of the kind The free banking laws Of the
Western States protect the people OF that section of
country and the popularity of that system progressing
rapidly that in a short time it viii De difficult TO OBJ
tain wide circulation for any other bank issue but
those secured by public stocks This will place the bill
holders in strong position. The facility fo- establishing
banks, which these Tree banking laws afford may for
time rapidly add to the number Of such institutions.
we may from time to time experience slight coliapses
even in periods OF great prosperity The effect will how
be rather favorable than otherwise They will serve
as temporary checks upon the general movement, and
serve to prevent more serious revulons, provided
the currency and the different banking systems of
the country left entirely to their own operations
Whatever evils and difficulties may from time to
time arise, win regulate themselves If not medded
with by any State legislation In this State
new banks started and old banks lquldated daily
The growth and decay Of institutions continually
going on, and this movement will continue as long as
government let's them alone. Banking institutions, in
dviduais and incorporated companies may bank
rupt and suspend without affecting in the slightest de-
gree the general prosperity any class any interest,"
but when BY interference the part the general or
State gorernmentsthe most important interests Of the
country intimately connected with the operations
the banks that all influenced by the OF
these instutions-we may look later, for
collapse of nature sseh have experienced in pre-.
yous years All ask of the general any State gov
eminent is to let the banks and any other branch of
financial and commercial affairs alone They will take
Of themselves If let alone They governed by
natural laws, which are undertaking the laws of
tue and ali want is the privilege Of these operat-
ing The slight 7usicns which from time to time are
experienced in fpapcia, and commercial matters when
operating naturally similar to those which take place
frequently in the elements. They actually neces
ssy for the preeTy alton OF healthy state atmosphere
in the iaancsl world, commissions in nature for
the preservation o: healthy atmosphere the material
world.
The rapid increase in the number OF banks and the
great annual additions to the paper currency Of the
country may By adording facilities to spectators, pro-
jucc among certain classes oyer-expansion and
sudden collapse In the event of a movement OF this
kind becoming moderately extended. it should create
alarm apprehension; but should restrictions be
resorted to for the purpose Of preventing great
extension of the difficulties it would tend
their increase, ultimately than state Of mastery in
activity the part of the government 1t will be
collected by those who at the time intimately
quaned with the progress Of the financial expansion up
10 1857 that sometime previous to that collapse premo
nory symptoms of that event several times appeared In
1892 there slight contraction in the banking
ment Of the country, and mercantile suspensions
Cured in the principal cities To prevent It's spreading
and becoming more extended, the Bank Of the United
States forward and afforded all the aid to the State
banks they required, and the eIpans ion resumed
From that time 1886 bank credit increased most rapidly
In that year the Bank of the United States closed up its
affairs when the general government deemed it necessary
to extend all the support possible to the State banks to
f the place of the United States Bank To carry out
this policy the government deposits transferred to
the State Institutions, and every encouragement
given to expand the line Of discounts and
paper issues. The result realized in 1S37-n
less years after the government first directly
iner:ered with the operations Of the State banks We
all know how disastrous that revulsion and there is
very little doubt but that 1t be directly traced to the
msddng Of the general government with the banking
movement Of the different States particularly that
connection for the purpose OF enabling the banks to
enlarge their line Of credit and deluge the country with
lapA promises to pay Had it been for the purpose of
restricting their operations it would have been attended
perhaps with little better results but its object
encourage all sorts Of speculation and expansions it
most fatal. We are now free from all such connec-
tons Abe Independent Treasury system Of the genera
government draws strong line between the finances Of
The and those Of the commercial classes and
long such line Of separation exits so long shall
he without apprehension In the event however of the
wbg party coming power the fourth Of March
Effort will without doubt be made 10 perfect another
banking system for the general government Another
bank 70: the regulation of the financial affairs of the
country will doubtless be established and similar
those experienced from 1880 1910 be again realized
We disposed 70 let well enough alone. and leave al
The ramihcaons Of finance and commerce to regulate
themselves, in they should become at any time
slightly dsrahged.
Bids for the sale Of one hundred thousand dollars
bonds Of the Dayton and Michigan Railroad Company
will be received at the office OF winalow Lsnier and
Co, So Wall street, until O'Clock p NJ on Saturday
the 18th Of September These bonds will be sold sbso
utey and without reserve the highest bidder They
per cent interest with coupons payable semi
annually in this city principal payable July 1s 1857
mortgage has been executed in the Of Joseph b.
yarnum in trust for the bondholders. The mortgage
covers the entire line Of the company their property
real and personal commencing at the termination Of the
Cincinnati and Dayton Railroad at the city OF Dayton,
Ohio thence by Troy Pqua Sidney, Lima Perrysburg,
I'M. L.. cl.4.