The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-30

pany In another book called the register nud al psss
o5S The OF Mr. Redpath IL reprseuts the stock Of
fer number S5's and IN the oouma deferred stocks
find the amount Of fl 500 aud also s5ls op
poetic 70 II In The column for stock Et $50 thees
tries and the name OF the prisoner believe 70 the
Handwriting OF Redpath the first entry the address,
writna-.he figures generally, and the figures OF tue
amounts Of Atock, believe to be 10 the prisoners
i nons sr0g Sss regard, the asI,ss before man
the prisoner the books produced were 10 tue cuaody
OF the prisoner as registrar; In April 1853 he was the
registrars CLERK, and had keep the above books;
was 1t this Court Wednesday, ct the examination oa
man named Kent; Mr. Williams the Inspector, WAS also
here gave evidence he produced several letters In
pencil before the magistrate and dep0sed 70 my belief
that they wore 10 the handwriting OF the prisoner; Mr.
Williams is now in Parts.
prisoners eice: every could have sccess 10 IT,
have myself had 10 IT. the accountant also had
transfers to the prisoners name, and ten Of his
name; be has b. on in the employment Of the npany
nine or ten years.
Re examined by Mr. Humphrey,-I went to Uste.
place. and found Mr. Redpath In the dining room OF tn
house, there was little conversation ne addressed
and said, 81 am sorry for this, Mr. Mowah-yery
sorry"
Mr.. Richard wnl.ams-I am a police officer con-
n.cted with the company; ! accompanied Mr. Nov
found Mr. Redpath there; TOOK HIN into custody
telling him that warrant had been issued against
on q charge Of forgery and fraud: brough, him
TO this court IN cab; after he custody the prso
,n. was sor1 ss A.. sso sorrv hst y MN
n that time after that no sad sthey have my plane Ia
Chester Terrace, ano II they sci! y we'll viii fetcn
$50 OoO;'' SAID, 81 wish they will;' there was
suatiop at this court about sending for solicitor at the
end of VIII IN he sad, Il sorry for NJ it is my
fault that here nothing further Of ment passed
Mr. Humphreys said that the whole OF thu eyt.
ccnce he prepared 70 offer the part OF the prose
oa,ion on the present occasion and he should therefore
the DPpOper might m and until dav
week He might also inform the solicitor for the prisoner
that on that day he should be prepared 70 with
about 800 In ALL which would have TO be gone over be-
fore tho prisoners deiaca0ns could be fully discovered
prisoner, who stands remanded until Tuesday
the charge OF being concerned with Mr. Redpath the
commission Of these frauds might be brought up the
same day.
Nj Tsrwbitt asked the prisoner If he had anything to
say against being remanded.
Mr. Wotner faid he had not the slightest objection to
such being pursued The fact that his CLIENT
seeing from the papers OF last Thursday night that ser
oos charges against him had been mored about had
10 town for the purpose Of meeting them On FRI
day next he had little doubt but that he should be able
70 show that Mr. Redpaths defacanons nothing like
The prisoner, who seemed worry self possessed, WAS
then in the Of the day conveyed
Mr. Wosner sppea thai the prisoner gold watch Nigh,
he understood there objection the other side
the watch, but the seals no should like retained.
Mr. Tyrwbit then said the prisoner would have his
watch without the seals.
The Monetary Crisis In France.
From Paris La Press. Nov. 49,
There are characteristics in the present financial
crisis which naturally suggest the inefficiency Of
existing institutions OF circulation and credit as
well the necessity of their further transformation
We are now suffering at once from the expectation
Of one Of the precious metals aud from deficiency
iu the circulating medium. The following succinct
statement OF facts will expose the urgency of re-
form In our monetary system. Last year the crisis
was due to two Causes bad harvest aud multi
food, the States OF Europe competed for specie
TO purchase grain in Sicily, Egypt and the United
States. The war also necesstated large loans,
and capita was attracted from all quarters by
heavy premiums. The banks, to retain the pre-
cious metals had to restrictive measures;
discounts and securities fell The crisis of this
year is generally attributed TO cause more radical
more profound. To one organic-not accidental.
The number OF enterprises Is out OF all proportion to
the circulating medium, or, in other words, the de-
velopement OF affairs has outstripped the capabl-
ties OF credit institutions. Amongst the countries
which have initiated France in the mania for specu
lation Germany is pro-eminent. There IL scarcely
insignificant to gn in the confederation that has
not lately established q bank or Credit Mobilier.
ADDED to the demand for capital caused by the
establishment Of these societies. the old established
banks strive 20 retain the specie TO cover the i'm
mense paper emissions OF governments, railways
and the banks the nselve5. according to NJ Horn
the iduciary circulation IN Germany amounts 20
f5g,6II ,5S2, whilst in France il Is not more than
ga 800 900, in the United States c36 900 000 aud
in England est ,4S0, 900. From the above amount
which bears no proportion TO the com nercial ac-
tvty nor metlllc resources OF the country, the de-
mand for the precious metals can be easily Con-
celyed. The fabulous sums lately subscribed to go
vernment loans has excited much astonishment.
Ts the last loan OF the French government for $780,
600 600 was subscribed the enormous sum Of three
milliards Cos millions. But what is that compared
with the ouhsrfihpd for tho am laat ha
project in Germany. Two months ago bank was
established in Hamburg; Is millions Of marks was
demanded. and the public subscribed 900 millions.
few days afterwards another bank was established
in the same town. subscription was opened for 3
millions OF marks, and 1896 millions was inscribed
for on the registers. The development OF public
undertakings and the multiplication Of bank projects
in Germany has thrown there a mass Of fifres de
credit on the market out OF all proportion to the
tac circulation. Hence the singular phenomenon
which confounds the economists Of o rise in dis
counts following an increase in credit establish.
ments
In calculating the sums necessary TO complete in.
dustfial undertakings either In Austria, Germany,
Switzerland, Spain or Sardinia they must amount TO
more than one milliard 500 million francs, to be
provided for within three or four years. The impos-
sibility of these States making provision for such
sums 0blge them TO have recourse TO other coun-
tries less inundated with paper and better supplied
with specie. France and England have been more par
ticularly applied TO. But both these countries are
themselves more or less embarrassed from like
causes, and the banks OF England and France have
been forced to add rgors 70 the restrictions Of
last year. In 1858 IL calculated that the public
wealth Of France about twenty millards, repre-
scented by sixteen billiards (sx hundred millions) in
various securities, and three milards In specie.
From a table published in O recent work by NJ. Te-
desco. 1t viii be seen that an increase of nineteen
and ahalf millards has since taken place in the se-
curities alluded TO. These paper securities, then
must row amount to more than twenty-five mitlards
that ~ TO say, seven times the amount OF the me-
tac currency. II may he said that all these seem
rites not made payable TO the bearer, and that
they do not represent floating but funded debt.
consequently the dsproportion between them and
the metallic circulation Is not OF the importance il
would be were they Immediately convertible.
We would reply to this remark. that what
constituted q no ton OF their valne Ia thar