The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-15

1ns oaS0 OF 1s CITY have coaoiuded 70 recsvs In d.
psh ana pay ont the bills or ths country banks OF this
aas Al the Sass stook secured bills Win be taken q
psr sno FIRM part OF The general currency Of ths State
We same - the bills Of thH city. rtey win bs usei In
adjusting balances q the Clearing House. he sans
much specie. u looks now - though ths trouble ani
simoufy In regulating accounts would % 10 entirely
renewed This will lot loose large amount or currency
ana Cve new NE 70 business. will give . grcat
impssw % tho forwarding Of crops, aud tend much
towards 70 ucon In he price for oil kinds OF agricu
trial product L II 10 be hoped that The banks win pot
enlarge their discount line much tai, new order Of
shiass. n Il pretty vol settled that the banks Of
This city were compelled 10 SUSPEND specie payments
tae combined action Of the foreign h&skDg houses
In srd about Wall street, aided by the dassc.ed portion
~ our own mercantile community. The prnci pal oause
wAs tho drAis Of specie BY certain barking houses
necssd with American bankers abroad Tho object
to mel the babks 70 saspsnt that al obstacles 10
expansion Of loans would be rem wed and that the
bari could no,ease thor discounts AMI give start 10
the exporlton OF produe forcing the banks 10 DO
hs, these agents or foreign bankers calculated to
arrest any er ora'iou Of specie from London 10
this oouny and thus taeir principals branches
In England and The Continent the plan wss very
sbrswd one and has so far been well carried out
70 operate in this wsy;A large private banking house
rot ias from 6e Custom house, connected with seve
banking houses In England ANY panic revuon in tho
London money -ket, caused increased by large snip
ments OF gold TO the UniHd Sates would ser!ouay
danger the exs'ezce Of these European agencies or
branches The object or the parties here therefore, 70
prevent II poshble any action the pat OF banks
thai would foroe shipments or specie from Liverpool 10 New
York. u well known to these aAAncers that ntrac-
ton In Discounts persisted would leave oher altsr
native, but importation Of gold IL therefore deter.
mined, on tho part Of these private bankers to
force banks into . pension Of specie
payments II possible, knowing foil well that there IL
no ether way 10 proven; the contraction from continuing
All the plans laid to bring about this desirable
important result How we'll they suocseded columns
viii show Xe nls u is i'y had drayn from ners yes
terdas fau frs nilons Of doy1ars. and II u pretty well
known That the bulk Of that large drawn by four
five bar king houses connected with bankers Ion
matter OF life and death with these London houses
and may be TOO late TO avert anticipated
disaster banks expand they VIII contrib ute
success OF NE plan Of these Anglo American private bank
Ing houses, and the only uste their nefarious
schemes ID 70 keep their discount lines snug possible
and turn the en Of bullion this way from the vaults
Of The Bank OF England.
Albert q. Niooayl regular semi weekly auction sale OF
STOCKS and bonds will take place 10 (rhursday) a
Hk O'Clock. n the Aevchar b. Exchange nne s OF sscu
rites viii DO offered, including bonds and bank and nsu.
rance socks, such - Bank Of New York. Fulton Ira: o.
mems, B. Nicholas, &c. an Howard Equitable Bros kyn
Nremen's and Etpa II suranoe companies, 80.
Tho Ocean Bank u doing business usual, upon the
Same terms othss banks Of shs city, and viii take IL
place In the Clearing House tomoFrow 30 win the Bank
OF New York.
Tho Assistant treasurer reports to-day ~ follows
Total receipts. e33,l6l OF
Us 83g 10
Balance. ,7sI s57 80
We have the announcement By telegraph from New Or
leans hat The steamship Norhsrp Light IL her way to
this port from Asplnwa-with 81 $50 oin California gold
81 VIII be due about Saturday.
The most important TO day, In relation 70 The
OF the banks the suspension Of specie pay
menu, wM the meeting OF the Judges OF the First and
Second Judicial dsctI OF the Supreme Court for the pur
pose Of considering the position and condition Of our mo-
neyed Institutions. All the particulars Of the consultation
the conclusions Of the Judges are given In another
part Of this edition, under the appropriate head. II
viii DO that 10 far our courts are concerned
there win be no interruption 70 tho business
OF the banks The banks continue their business .,
usual. Checks certified without delay, deposit,
received ard the operations OF The Clearing House oou,in
usd The same - before the Suspension Notwithstanding
this thu managers OF banks feel very uneasy and no,
81 oil sasnsd with the present aud prospective condition
or financial arars The hinery or commerce appear,
",
. clearer horizon 10 Judge BY Tho bes, nnanciers
The day are unable to express any opinion regarding tn,
fuurs and for bank presidents cashiors they
completely lost the chaos confusion surrounding
them.
The rawlings banks hive suspended Perhaps II would
be correct 10 say that thsy had avasd themselves
OF the terms md conditions upon which their deposits are
made and would not resume pay again specie an
al the full expiration OF the sxty days An account OF the
proceedings Of the managers OF these ns,iatonu will be-
found In arother column.
The United states Treasury Department has ,ssucd the
following notice In relation 70 tho rcdcmptos or govern
mont Stools
yaaAsUly DspAHrmusr, Oct 10, 1857.
Notice Ia hereby given, that the intstion contained In
the a~ authorizing this department purchase Of
The United States having been reached Ia within
power 80 make furiber purchases a. present
HOWELL COBB, Secretary OF the Treasury.
The Chemical Bank paying specie 70 day. and lie OH.
that they viii continue pay. In The
pension OF specie pay mems In 1887 believe
Chemical Bank tho only ths did not suspend The
bark, capital Of $500 &C., has surplus Of $500 900.
The Clearing Houss owed Tuesday ssoooo and to-day
sa6coo ON Monday u had In specie s3as,l6s The bank
10 mainly In private hands ar feels very nforabe.
Fan particulars or Suspensions IN other cities and In
Other parts OF lhe country will be found under our ele
graphic head. The suipcuron has, We bclovs, been
general.
In the report OF Mr. Ncoay Ion sale teIs morning
the following errors and omissions wore made
sfco soua csrolIps6 per e. bds ". sis shoud -,
PIG NJ Icreca .nd mtg ~. al s were passed
Ioee Loussss t,ss 50 should be win Di,r--t ST.
600 slv and Bo,icon LIST rig per Ct ba, ABl. 10
The earnings OF the Pi,s,urr, Fort wayne and chicago
Rslr nd Company for the month OF scT,smbey wcre %
follows, via
From irsshi. 81