New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-25

IS share. Chicago 81. Pso and Fond an Lac RR......s
The Treasurer Of Massachusetts hss disposed Of Al
the q cert scrip authorized by the Lsgisla;ure part
ten ard part twenty yeas to run, st cen. premium
for the former and Y cent for the latter.
The statement Of The Cincinnati EzpTe" that tn
Little Miami Railroad had made dividend OF . '
cent error The Treasurer states that II 10 mol
known what acton the Directors wi take on the SUD-
Jet until after the annual meetcg, which was 10 be
held Dec a. II is probable dividend OF For
cent, payable in bonds, will be declNed lns.esd OF
borrowing money, which has been required 10 laying
the second trsck and making other improvements,
the ret earnings OF the road have been used for that
pupote.
Martin L. Sykes, esq, late Vice President Of the
Hudson River Railroad Company, has been appointed
10 like poet on the Chicago aud Milwaukee Railroad.
The November earnings Of the Chicago, st. Paul
ard Fond du Lac Railroad we're s3s,9Os 69.
Judge Sanford of the Supreme Count of Connect.
out bss refused 10 remove the injunction upon the
Merchants Bank of Bridgeport.
AtPi fadelphis the Money Market is unchanged.
CAPITAL is abundant and frstclass pepper is scarce and
fought after at 9 y cent y annum.
Az New. Orleans The Crescent Of the 18th says:
"Tbe Directors of the State Bank and Canai bank
net for disct urt and the discounts were free ana NO
eraj. The Canal Bank has an enormous surplus; say
ore million Of dollars-sl oe WINS l'o.huS oo.
large dealers 10 exchange DO not tnink COT
TON has sufficiently receded TO waraut tnem 20 e9ler
the exchange market. Ttere are others tee
and more confident that bisof lsding at lU@t lVoi,
ard cotton l0c. cannot be dangerous business ae
this time. We coincide with them. Our banks are,
In the mean time, in a most impreguaole posioon'
The Proyidence Journal states that the Merchants
Bark of that city has issued circular to the country
banks squirting tina. all accounts shall be maze gooo
on the lth of January, and that thereafter, no &C
commodston must be expected for overdlaf's. Inns
is preparatory to resumption, which The Joarna
thinks will very shortly takes place. 1t says:
awe have not Joined in the blame that hes been
besped on our banks by thoae abroad who dd not au
derstapd the question, and by those at home, VINO
oupbt TO understand 1t. With fewer exceptions than
could have been expected among SO many institutions,
they have been mansged with great ciscrenoo, WIN
liberal regard for the accommodation Oh tue Paono
ard with prudent regard FOR their own satety SUue
of them are extended a little beyond the line thar
marks the convenience Of resumptlon out all OF
them can place themselves in the conotion relste 70
a res umpticp. Nor do we agree with those ~oo 30
hlppsnty dispose of the matter by saying tna' Tue
banks can resume Just well as not ana toa' II Is
crly tlsir own fault that they did not re- ume WIN
ew.York. We see difficulties in the way; we see
the necessity Of caution prudence, forbearance ana
al ut we think that the obvious disadvantages OF
remsirirg suspended while the banks OF New YORK
snd those around pay specie are greater han 'ose
that are to be apprehended nom putting our ihsttu
tons in line with them The banks that are extended
can hire money Of those that have credit st the clear
ance bark or hire it in New York, or oil cspueIsts
at hone II the circulation should co ne 10 700
Which we do not apprehend there would be little dii-
Guilty in arranging for credit in New-iork or Boston
ON The common guaranty Of the Providence banks;
and if there be any banks that cannot give satisfactory
security for the risks which they would impose on such
10 fesflv III interest of all
ceYr ed that they should wind up their affairs.
Exchange on New York, which went up a = cent
on The resumption there, has setted down to @2!,
ard with little inquiry ct that.
The annexed remarks upon shortening credit, are
from The INDEPENDENT aud ar, worthy the attention
Of Traders
"Tbe Leading merchants In all the various branches
of trade sre now discussrg the prOprety OF shutting
the barn dc after the horse has been stolen IN re-
gard to st orenpg credits BY reference TO the es Of
it win be found that the same theme then occupied
public attention. Many wire Iesol atoms adopted at
that time were soon forgotten There can be no douo'
whatever that our whole credit system should be re-
yised but we have not much faith Ia tate comhina-
TORS TO promote that object Such spasmodc efforts
seldom have much influence. single prosperous
business season wipes out the remembrance OF past
blundeu. All is forgotten until another storm comes,
ard thunder.atroke skaters again the ve'y found
ations % our boasted strength aud great
ness. Our merchants and business men by
drCds ana thOue9nuS LOH noutulus Ofct
heir folly. They have granted credits from
Dan to Beersheba, and have taken scarcely prom,
ICES in return Six months, with indefinite privileges
have been freely given In all quarters The merchant
WHO has made hs collections IN an average OF eight or
nine months with only moderate losses, has had the
credit Of doing things on sound business principles.
The question is propounded on every side, whst
shall be done? Taking about short credits is at
his neignbOr to make the first move OF REFORM 80 that
he by holding back little, may not be the loser.
Now it ia fact well understood, that those houses
large small, which have adhered most nearly to the
cash principle, have been the most Independent during
ell the recent financial difficulties. Whence, then, sill
tots necessity for combination, this holding ba Tx
from doing what plsnlyis for the interest Of esery
TO do as speedily as possible We believe that not
another doll of merchandise should ever be credited
the country by the city obber on longer me, nnder
anu circumstances, than four or elk MONTHS ard tnat
in all note payable at bank, with me current
rate of exchange should be required. Iaose who
will rot buy on those terms should be refused. we
also believe that retailer, anywhere, In cry or
country shoud attempt to do business except Tor
ready pay Cash down, or It's eq2ivalen. IN p,oluce
or other marketable products, should be the ohy con
dition of sale. No other system is worth moments
consideration, and advise every retailer In tas
country to adopt this measure Of reform at once. Aa
abundant baIves, Of prosperity VII 90 s ,nS bs
Of his business can be diminished. II will not DO Tor
him to make bis plans after the pattern adopted by
Others. He must command his orn ship with WISE
and constant reference to the means ne possesses 70
make, at any rate, safe voyage. II he mas bu'
email capital he should rot etec1pt to do what great
wealth alone can do. He should not attsmgtto do
hat he knccs others attempting vey foolishly 70
orn rath, seekDg all the light and wisdom ne can
gather from every quarter, and then firmly resolve
hst in regard to credits and every other movement he
will adhere strictly to the sober conviction OF what ia
right, proper ard sate.
The Ca=eno,ia Republican says:
IT. 18th Mad. Rank will