New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-02-28

took them ND q. - di,c,uut md again cold then,
o. before, on ps best be could eotstn, TO pese
usfic Dver BY any chance 70 be redeemed ct par oy
any bod, , but filing the city with bank notes wnicn
could be sold only q: discount three times az arg
tho recognized by lsw for our own bills
Had this design prev aile5, the endesvon OF the
Metropolitan Bank TO free the city from deeree.ted
NOR ey would have been 70 crest extent iusra'eii
and our OWL banks would have lost the crcoaon they
are Justly entitled 70. -
bev,en the METROPOLITAN Bank and the country banks
Of this STATE may be seen by glance st their ousi-
ness relations The country banks deposit their incur
rent money, as before stA.ed-New' YORK s.a'e a. +,
and New. En- gland at lilo of y cent discount Iher
cole ctions are made in New-York City and vicinity
Zee of charge also Boeton and PhiladelphA tax
ing only Eve days time before credtng the amount
when Il amounts TO IS 0OO but nothing when Il fAls
below that till 1t again reaches the minimum amoonf
end these terms are uoiform.
They also receive y cent on the whole amount
of their circulating notes received on deposit by the
Metropolitan and redeemed by them at par-tbus, IN
fact taking up their notes at y cent discount. Be
side which som9sof the country banks are constaoty
requiring and receiving discounts of their bills receiy-
able II would probably be within bounds 70 say thst
tie accommodation in this way averages $15O0oo,
While BILE overdras equal 70 half that amount
The latter by the rules Of the bank not
but sti occur and are at timee exceedingly burden
.me; for the bills of country banks al rays ow in for
redemption most rapidly when money in greatest de-
mand; and TO protect their credit-'to honor their
bUs-tfe Metre politan often hiss 10 advance funds,
when their individual depositors who get no interest
on their accounts most cismorous for discounts
and show iLdisputsble claims TO accommodation.
"Thp must needs be go, as the daily redemption Oh
upcunent money huctusies from $3.50 900 TO 5000 OoO-
this amount being 30 much literally discounted for the
country banks all of which would fall into the hands
of upcuJrent money brokers but for the Metropolitan
Bank system; and there be shaved at rates varying,
With the state of the money maket and the necessities
OF the sellers.
"On the other hand, many Of the country banks re
ouire 70 discount and violate the rule respecting
over drafts; keeping sufficient am punt to their credit
rot ony 10 redeem their bills and accommodate thar
customers with exchange, but also to secure goo
customer when discount will do Il Toe credit osi
spces therefore always equal, and generally exceed,
be aggregate Of overdrafs and discounts to country
bsskseleaying the capital stock to be applied to the
redemption of uncurrent money and discounts to ndl-
vidual depoetop.
"Thus II would appear that the country banks ip
DIV the means for their discounts and over drafts at he
Metropolitan Bank-the latter being the medium
through which the funds are distributed in such man
per as to protect the credit of all, and redeem their
circulating notes; which latter however, not ac-
complished without the use Of considerable capital
which will more clearly appear hereafter
Fyom The Cincinnati Price C"rent Fto %
The returns of the hogs slaughtered during the sea-
con are nearly complete and sufficiently SO for all
practical purposes those from the few places yet TO
be heard from will not essentially change the result: