The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-17
NEW YORK.

NEW YORK.
MERrITG OF BUSINESS Mon OF aYR lCUss, MT.
From the Syracuse standard Osi. 10
The spenaion Of specie payments by the banks hes b.
come general brors bout she country rnore may be
ceoops In Individual cases, but thor must no rare %
in Dsto the relations Of hcse II. isuons thai wnn
10 In ouoie all less affected the MY
city gave vay then no alternative Was len but 70 fosisv
the example.
A, soon this stSo of thugs became sppuon, 70 NJ
business or city, eau rss Issued Tor puShC
meeting to as,enbe In the City Hail. on vedse.dsy c,ss-
Ing the purpose OF c,udderss the aspect o. affairs ssA
oevsiDg OF protection. largo numbers asss~-
b.ed-the hall being comoaeuy died
Toe meeting called 10 order 81 o'clock pspcssly
by n Salmon, on whose motion John Green, u, ~0
app tinted P1esden chas Pope and James Taylor vsss
elected vica Presidents, and r. H. AgAn, T. rruaF -
On laf,pg the cnsr NJ GRsrs briefly s1drn-ssd -
meeting setsng forth s Objects and oounssns Tie adop-
ton cf such ~ The wide spread panic aod d.
HAlvnY BALDWIN beng called for addressed the ssa-
ing He sso he came hear and not 70 speak No sssa
country II has rrisd oesoauou and sero 70 tho re-
moess Parts or the Union. me banks have sussAssA
ns oSd 0sg. es.n ss s dsa.
they REGARDED for the best and he would give them ce
for good Intentions He thought, in Wow Of the crss ne
Governor should convene sxua scsson Of the Lssi
turc The duty OF he a'ure and thai body coaA
DO Vas 10 repeal some OF the pcnal sections Of hs hs
for tho government Of our banking institutions. He b.
leved tsAt the Suspension would beneaois far 10
resuli In The bringing ward 70 ths seaoo1d OF Tho 80
duce or the West, -here II would 70 eisn dsmssd
Y
10 Eb~rpe al a profit Of thirty cents a oi1h>l
Dssnis MouARrsr ~as called for and took the stasd
he said no class o. the nmun ty coud sustain itself -
the expense Of another The banks Of Ns~ York he'd -
tempted "a ain themselves the expenso Of the
T. rhiless, that the world was watching them lnsy s2
thnt their honor q, stake Tnis naaral feoa<
ard he DID not come hero to condemn their course whA
should do IN tits issf We should say tas
oi of our banks are toan gold fnese blbs
we're amply secu ed By the socss Of The slAio AMI mort
tafes On real prt perry idle 70 expeot that The In
husncss ope Q Ions Of ihs country sould be
ried on through tho medium OF gold and silver 10 did
not want the constitution Of tho state altered But
10 ne L<gislsture NJ the Sate
NJ. o SALMON moved toe appointment Of . sonmiL
tee nf six IN n pori resolutions.
DANIEL DANA said before the motion WINS put he would
like 10 sddtess The meeting he raid supposed -
sve the meeting come advioe when his voice vs.
drowned by NOSE and confession" and be sok ~
The mot on TO- the ap2op or . Committee % re-
solutions then adopted, and the Chair announced
kessrv o Salmon, D. Mccarthy. Daniel hobusali, HI
commit
NJ. THOMAS 7. DavIa, said there was no los 70 hin
oljers doposors aoerue n the suspeusioa NJ
cse psymcuts BAD ths suspension occurred four wcss
ago, tbs unry vould haze been In mush -tiw
diaen The produc Of the farmers, .hc, ars now o'er
h,wirg he srspares Of The ses,, would this have
be- ~ the sesbcard and the way 70 Euopc psy Ne
debs OF err merchants and relieve The country from ~
cnbaraunents The Easern bar ks had sotcd ~issiy
IN refusing 70 take The OF county banks par.
n cy believed thty co1ld Withstand the whiriwnd Inn
vcsvceu'ot over we country Bot time had shows ME
% be fsll'oy Ihsy we're Obliged " sucjums 70 The
blast They out them selves In opporon 70 the bas'ness
classes, and The latter viumPhed
Mr. MCCARTHY said hs hal been asked this evening vhy
our bankers bad not iaxen part N the meeuts rns
Aasv or was that they sns sueranse OF tbs
muny and modessy, nothing else counscllsd siIsscs
on toeir ran
M snsos, from The Committee on Resolutions, rspss-
Resolved That this mecae approves Of the suspcassca
OF sPoce paymenta By lhs banks Of this Slate Of th ox
gepcy We confidently believe that such suspcnaoa vii
be OF very limited duration because there bccs 10
great calamity or oss OF properly; unry
oveffo ting 10 AGRICULTURAL wealth. and or all be-
cause has solely been produce1 bv absorbing panic
Resolved fbas Ne consider % be the proper o'srss
Tor the commuti, N In NE regular bu isess y
lake The bills Of sound State banks aud thus 70 mani
fest The confidence which Indispensable 70 NE rovfvM
o. trade, 70 the ompoj er OF labor and 70 the general
Resolved hit IN tenae'nr 70 banks this approval,
snd W rledgipg support 10 them, Ne ave only SUSAN
Ing the business r. the country and saving from disncnr
the feh mass Of those indebted, Who would DC
currency which has been going on, and 70 vnion nes
pen Ion puts end a..
Resolved, That the Governor OF this mae. IN view o
The mercAl crss, be respectfully rcaucmed 70 80
vene the Legislature n early aay and ve recom@ed
70 them - such action ~ Tho exscncy oil ne ass
NAV uquire
IN sruvrss in aucd VIVA, remedy the Legislator could
Apply for the euro Of exssrs OBSERVATION-DISCLOSURES.
Mr. DAVIS, In reply, said thai body might smepo 'ne 81.
,ns statute no far extend the time for commcncnG
proceedings 10 wind mp the banking nsftu aon that Arc
h default n could also submii, II chose On amendment
NJ W"s..Sry rema-sed tina, The matter Was q vsvv
simple one TAe legislature could pass stay at, not
o~,ao sp~rsson bot paetpontno che penalties from ff1es
aa.s f,he period nopg sed br raufe) % ree sin roAa
.,red sns 4 stay law sss enacted the banks ssmi-
Iay favor should be granted 70 individuals (at Rhisr
The meeting hereupon adjourned.