The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-17
So ga IFS Of 45o,S7b % s,e14, 400 o


Total. 50 224.l15 Of 46o,37b 90 1914, 400 90
The following banks in this STATE are 40. under the
sictions of the General Banking law references to Sc
cures for their they all under the old safety
fund We do viah to insinuste that they no
perfectly sound, but 10 point them out TO the public
bnct class Of banks to which blhoders must look
carefully
INV York SAFETY FUND BASKs
albany rIfy Bank. Kingston Bank,
ausDic Bank Brooklyn, Livingston Co nty Bank,
Bank OF Alhsny, Madison 0ounty Bank,
Bstk Of Lacsipgbuig, MechsD h vsrmers', Albany
e'ik OF orleans Me.cr Mechanics, Troy,
Bank ~ 0weso, Ogdensh 70 Bank.
s.pk Of poushkeepsis, Oneida Bank, Utica,
B,uk OF Rome, Onono asa County 3sak,
Bank Of SaipA Otaes1 County Bank,
ss,k n WI iehan, s.osea's as,sor Sank,
Gre, k'yn Bank, Serat'sa County Bank,
Csytgs Count Bank. scnep ectsiy 8snx,
en- al Bk Cherry Valley, Seneca Co inty Bank,
Cpemure Canal Bank, Seoben County Dang,
Chautsuque Cour ty Bank, Taupers' Bank, Csiskin
Essex suntv Rank, USHER County Bank,
Herkmer COUNTY Bank roanpkirs Co Bank, lthicn,
His niRpd Bank, Ne Shuvg, Troy ity Bank,
HUDSON River Bk Hudson, we..oheste- County Bsnk,
jefferson County Bank, Yms County Bank
the blhoeer has security for Their circulation beyond
the general sets Of the We believe the old
safety Fund" defunct, what Is fun bad bankrupt
holds sesury the bilholder To such tines
a. these the pubic must look entirely 70 security,
OLD safery fund banks expect very
fsvorahly considered The banks Of New Englsad
similarly silcated. There security for loe crcu
lsiiop and when OF them falls the biiooders gener
aliy get nothing The Assets OF each bank In the
bsDds Of the managers, and they generally dlsao
sben the fails The banks OF Nov Ensant have
been ong time connected with the Western railroad
pspcs The circulation Of Eastern banks has bcea loaned
70 the different railroad coursnc, Of the wet put
anoai to distribute, snd for this service thee rail
I,rn~ f.,M Nta
Term, In thi. way many Me- England banks have %
large circulation and the people or shs West have
ban DOUBT at this Moment large OF these
nils these railroad companies agree 10 keep This circu
acn for certain length f lime, and project the
bank frcm the presentation OF is bills In largo amounts
rus IA only one Of the ways devised by those Eutorn
eaIkcrs to TO get insecure circulation and OF
there days We shall the result rho system banking
pursued IN the sin N,w England stsicr 10 probably
effective far security to tho bl,holder concerned
than any other 10 the country The banks Of Bos:on make
show bad enough, when appears hss With . cirouls-
ZION Of So SEQ &C., they have In hand bu. $3.50 800
specie but the country banks make exhibit than
The entire New England system Is rotten 10 the very
core and nobips world but the blihdest confidence
sustain, the structure t~,py four hours panic, such
az this oy has ju,t passed sgh, would sweep away
every bank In Boeton, and thoso la The country would
soon follow. riding 70 The las, Official returns the
line OF the Boston banks amounted 10 s562ooo
white The ssgregae Of capital and deposits amounted TO
only SIC 4se oco This 10 what call bogus banking,
Apc We should DO surprised 70 the ~hole bun,b
explode some day without rarilcul. notice. Holders or
bits Of the Englsnd banks cannot realize tho danger
in carrying such gle and doubtful promises pay, and
the sooner they exchange them for The snbsaats solid
and OF The free Tank Of this state the bet
YER Here se have valuable tecurEs dspossed with
~ tha hsrk
bills free banks have 10 buy of,hs State notes
for circuson and state only allows oils N be ss1od
By paying sste trcaury the bet hind OF
ries full par valns or cvery bill siven IN exchange
mis- syscm perfection p,ss "a get a. The
bin older IL secured beyond all coau1gstcies. Uadcr
this system not only knov that the circulation IL tho
roughly secured, bat we know all tines what
The stgresate Individual amount Of cir mlation 10.
Toe stale Comptroller issues bills 70 me legal value Of the
security deposited ard not FIR dollar more I, there
fore certain ths. any holding BIZ Issued By ffee
hank of state, has ss, ~b represents the same
Though he had In baud no mucb gold. with such
rty 10 strange that people he ound u, ~ire enough
10 risk their all In CARR Ing the bills OF Se~ England
tM or those Of any other section Of the country where
the security exists only IN the minds o, the highly tmsg
native Manager soroe of tho Western states have bank
irs lass similar 10 ours hut they no, sruseo, enough
In relation To the character o. the depo ei ~h
the public authorities Illinois hes, believe, the bes,
snd he Auditor OF that State has recently oaoi the
bMks 70 make good any depreciation 10 tho market vsu,
Of the secufi lee dcpose Hs cal At responded
to- and believe average Of sbopt sin per paid
into the State usssrry. In Wisconsin there pretty
coed stock security banking law. hot Il wants ag
d improving ono has sats banking system
pretty eel 90 has Indians; but IT them ran
rare with that OF the snte or New York with
all the defects poined ont aud known to esisi
In The several vstems Of backing In fuu
operation In this country Trey pc~fecs oom srct
vi those existing previous TO the srca, aasnca resu
,lop OF 1857 Then had all sorts OF sys,sos from the
old United States Bslk down the Wild and shlupl
ter concern. Of vctssn The currency Of the country
vas 81 thai time . horrible condaos, and 70 that
can In measure be attributed grcstcr portion N the
difficulties then realized Our ssohirg system a. hat
time -- not only In most defective conduon but
anspe ard rom nercs systems generally good for
nothing Most Of them experiments Of tho day, and
tberefors full Of i'm sereo.ions Nov are In = much
better POSITION and are comparatively npco sound aud
solid basis Then TIE crsnces Of The general government