The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-23

had BY such means Sses ssns % New Tosn, now Aad
Nee, consequence Of No nasahtv a We csv banks 70
ne resolution tue wssds In furths snoe of u s,r,S
msde ~ The city banks sf New York."
hr HAwIsy, Of Bln.Io, thoushs NE words nigh, have
hey had been before The meeting b hoped Asy woild
Acs DO .sSiosep out he was Wiling 70 give credit moi
seasray for the sr. hey s.d made % rsisvs he d.
only The word "bsnks" 80 thas wOjd read AN lartssS
me resolution vas 80 amended and adopted.
Ine tnhd reao!ucon was then taken %, and also
M CuyLR called the attention Of the country BANKS to
he fAct that under TIE present system Of paying no
bahnces In New Yo,r by sealing up packages Of c,any
unable 70 control toeir currency was hguiy dc
Gable that this should be prevented and thaA the Of
country banks sboeh sc returned TO t,er owa CON
stuency ins.esd Of accumnl ung by mious d3wD East
He he'd spped 70 have she billie Of hs bank sssored and
had oereJ TO pay he sIpcuses for 80 dvg out tho ae
stated that my hundred ~ the souaxy bsuk I'D
combine oletner and pay for Inc Of Shei- b
they would socn have them assorted Aat retarn them to
Ar. Mem, y Bath, said he had had much sxpsrteuo
IN b,I King and had gone through the panic lS47.
thas time he bad supposed that much might be 0y
copventions and resolution 10 mad found tbis be .
fslacy tho only trce principle wss for eAch bank u s
redeem There was foroo in The rsmsrr that was bet
ter for the country banks have their circulation Ia
lber INN ed.se vicinity they coujd bot be- for one,
in New York. Be did NOS ssres Ia the
statement nS specie paymeD's had been
Inc sounny. and be pseved hs, .ben scscs usvmen
resumed the county banks would scarcely feel suy
dieence He was prepared 70 take care of n' own CIR
were presented by the ci banks.
Ar EIltsoS, OF Rochester said tAs. some stat Iics
veae deserving Of consideration in connection With
hb sui eC- In september, Ast yeAv hs believed there
was In circnAton, In the ATE Of New York, thirty mil
Hons BY report made In Sep.em OF tho pres, ut
taking the Of last sas nday that tas he'd
fallen % sixteen millions, ono half Of which put
SS Ss 1isoI I, sy Ne. Y0r. city banks alone mo city
i've miiNoos Of country orcuao they have not more
hAn ono million, In fac Of country bills, which they
add here hs testimony In favor OF the conduct Of the
Albany city banks during the 10 troubles They had
done than al the New York city banks pot toss
soy the relief Of the country The Albany banks had !.
the present time more ihan million OF currency New
York, or more .ban sufficient TO the whole socuua
com binao0 Of nifty hundred utry banks for the
paypcse OF SrocCng he assortment AMI of their
note. rom .ss METROPOLITAN Bank, because he ws,uo
principle II wss owing TO the imposzio.y o, resolving
any relief from The Two yedeemng banks Of Ne~ York
ths mdcn OF the past dihcuNes hAc bean s1sIb
6y the action OF thesc hanks stream rcna ion Ak
qusverpg for u no in the balance had flowed nsrd In
stead OF and The business Of the country hso been
brought 10 sand
kr. srnyEB aslo spoke complimentary terms o. the
slbany banks Their proportion to tbe New York banks
hbersn'y properly sppreciated and met With warm
rssconse from tho whole banking ineres,s Of the ss
The subject here dropped
Mr. W1LAss made Q PERSONA cxpsanatop res
peisg tie rumoYed dssreditpg OF the rompkns Oouny
Bank. had arisen through the mscarrsge OF c tele
rvapbN despatch, and had been Immediately nigh led
The bank nov ,tood EQUAL 20 suy In ID st&:e
g. ". CUyIxE said tnat foil csioc bad no becr done 10
the oy bs iks. ney deserved thanks for suspending
spccie ps' menss lLsushscr They shoulf also have
credit for redeerug country notes u par, and pecaliy
for Pedeemng those which they bad Knocked down
inst before Men vim had owned The country banks
veps 70 bed suppsng they had teer demolished
by the city bAnks, and avoke 70 srd them once
paid out ~ pT-nay, more the city bad sgniesd ihsr
Intention 70 keep nur i've min OF thosc country
bills, and 10 give them vafue In making tncir bAlsnoes
ecuN 70 gold and iveT. Ola ,ehter
Mr. nAeII sad he had Just learned he: the city banks
had agreed 70 scorp FOR tne oountry banks In good
standlfg tie exknt Of one million and half
Mr. PIrxB, of Albany, ea;d be had a,Ienacd q meeting
the night before at TIE Marbsthn Company banking
bcuse, q which the most imporant o. the city bAnks
we're represented sy had agreed 10 redhcoant paper
for the western BApk-hs presumed for thsr correspon
dsys PAPER rhe ass hnd boGn rsAced - he hsr - s6
HiMman's ker rohAnh' Esnk 10 arrange
NJ Euooy. Of Rochester. said he believed the couu.
Try banks coult Discount I enough 70 bring al ,ne
produce N Hev YORK. What vss mre wanted ~ss the
means there secure outlet for Vie produce. Az pre-
sent while The Neg yWk banks arc crvtalng Lher dis.
counts, foreign exchange cannos be ootAne1.
The resoiuon 70 combine for the purpose Of 90
be ck tho circus of lie oouu; banks from NE ksro
poi'tan Bsnkl vls then Withdrawn and the Omvcnvon
adjourned, syecs 70 We call Of The committee