New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-16

s;s:s Ct; ss @ s ssss s s $50; $50;
20 Pa4. a' to- pat @ In s s eS'V' @
VI to 6. B.. Dso 5000 5000 1900 300 s ,dSS
ss SS ssSSS $4,000 sSS , HSSS .s Ss
year Si8 900 bales Eport-lncreass 10 Grest Britain
O6 bales Decresse 70 FRANCE $500 eas. Dse,e1. sO to
bales.
The country banks are again moving 10 the mater
Of he estsblshn ent Of Redemption Bsrk in this
city, snd il is proposed to cdl Convention to take
the subject into consideration. The following circular
hes been Issued in regard to this matter, which
plsrs ITSELF
To- -'aq. Ca't.e,, r. h.;, ao..,o;,.a ,,
resume the business of bsnk note reaemptons Issued
circular letter of the date of the 18th day of Novem
Der l,st, ntiuatng that it was very desirable that
thew be informed at il the country banks would
redeem ds1y in the City of New York at y cen. dis
count such o. their circulating notes a. should be
received on and alter Nov. l6-subsequenty extended
TO Nov. lS-it was deemed advisable that the Com
mittee appointed by the recent Convention OF Banks
st Syracuse With reference TO the subject OF bank.
note redemptions should assemble in the City Of New
York for consultation. The Committee accordingly
met on the last mentioned day, aud concluded that It
world probably meet the general expectation OF ths
conn;ry banks # an arrangement could be secured
with the Metyop polish Bank, from henceforh the only
city banb TO be engaged IN the business OF country
unfairly retiring from that branch Of business, to COZ
duct the business Of redenp,ions oo behalf OF the
country banks upon plan whereby mufus'ity Of in.
ferest should be recognized, and something conceded
10 the county banks 10 compensate for the interest
which hsd always heretofore been allowed on their
daily balances, the paying Of which has been dscon
iinued by the Metropolitan and most other of the
New.York Guy banks, and also by which the country
bsrBs ihoud DO consulted and have voice in refer
ence TO the " throwing olt' bsuk by the Rsdemp-
ton Office. The Committee accordingly called upon
the officers OF the Metropolitan Bank, with view OF
securiug some arrangement Of the kind, but were
tIey Enable effect any; would any concessions
of the tsns for redemption be made, they claiming
that the price fixed was low could be afforded
end that the country banks already, with few excep-
lions. he'd agreed 10 them.
1t being apparent TO the Committee that no sst,s
factory could be made in this direction
and believing that the country baDks in this uncture
were looking to them for some action, they, after
further CONSULTATION, concluded to submit the follow
ing plan Of operations, and recommend its immediate
adoption by the country banks.
The holding of a Convention of delegates from all
the country banks who take up their circulation in
NewYok, &C., at h cen. discount, for the purpose
of forming association or union OF the country
banks as well 70 advance and protect their mutu. in
eress as 10 encourage sound and legitimate banking,
and 70 provide fo- prompt and cheap redenptons
amopg the associates, thereby insuriny to the pubic
grt at.r stability and permanency with respect to the
banks and Il sound aud convertible currency, which
union might be secured by adopting the following
The several banks of the State OF New-fork who
shall become members of this Association hereby
declare the purpose OF ts organization Is to SUSTAIN az
far as Il may be done the banking system, by pro-
vidng for certain and prompt redemption Of the cir
culstrg notes of the several associated aud in a To-
gtmste ways checking undue expansion Ut the cur
Iercy and generally to promote and protect toe mu-
tus interests of tie associates ard 10 this end that
they will generally stand TO- abide by aud perform all
the provisions contained in the following articles aud
ell rules and regulations sdopted to carry out the
same: ~
Article |. The Association shall be called the
ART IL The officers the Association sh,l be President
secres sud ss's5s SAD an ,ss bos
their Offices for and Until others are elected 10 tnen
The Executive Committee shall hsve the general m,nsse
met business aud sfas Of the Assocasion and 10
Of vacancy may appoint person 20 supply 'ucn Va
AIT III To apromp, and efficient redemption Of the
Executive Committee shall have power to make arrange
nerts Nth bsnk or banks in the CITY OF MN
agency Clearing House for tia: purpose and to
appon, and other agents ami employees thereof
In case m. Executive Come she'll decide engage bank
q % D1 ~ 70 WITH .ush bans that every member
Of the shall De dealt with fsry impsity aud
eeiairs bsDi except By least three
beIs Of Executive Committee in which the bank 80 d
credited ,hsn be suspended from the Association.
AsT " Any bank doing bushes. IN his stsr, wno
a.oc may on the By paying iait.ti0n fee Of
SO Sne further Of for each 10 oOo OF capital above
a s9s ls r 5 sy S.nt hereafter
that may to become member snail not be
ont proof the Executive COMMITTEES tns TIE cap
s u such bstf been y ard fairly paid IN and 10 POS
.e'sd By such bank desiring 1Si.se
AR v The Executive Committee shal also BE- empowered
sS sSGf =. ssy EY to 90 the
and sju.; the tirh Of rate. % .astsn tne
,t. ~ an Indspsndss, Agency Clearing House throusa
when the IshAns'' Of the A':GcAea Bans NH
optr an With bsai or s.nter IN the City Of hes