The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-23
CONVICTION OF NEW YORK COUNTRY
RANKA

BANKS.
sYRAcpen, oo3 n. lSs7.
orv@s,en Of dessgasss nom country banks nes
m NH sisy to-day. me object of NE meeting sp-
psavR 70 be the sstsbfshmsas Of . COraaxy Bank Re-
dsmpsoo Agency q Clearing House IN New York, which
hall ssve III he present expense Of oocnuy banks On
We redempuos os their bills, ezoep suon arise nom
ne rseountng IN New York On The paSt Of the banks
10 uyged thas such . country sgescy wcclA Avo ihsm
tnsse orrtns CT ne present saz hsr circulation; aid
thai soon - specie redemption 10 resumed Unless some
such plan n sdopssd their bins Win be crowded upon
them sgatD by the city banks m ruin rus amoun2.
Annexed . me official can Of the Ounvenl,on;-
RA1k onxyENr9OR.
Upon comforting with sach Of The neshborise bankers
a. could bc enenlly oorsdfea, and acting by they
advce the undesgned hereby reQuesa each and every
Of the solvent country banks 10 sesd doegase 70
VOORHEES, house, in be o,y or N acnse rnursdAy he
22d Of ooooer INST a. Il O'Clock .. noon for oonsOlson
md '0on 'o'o' - may be desns, sa p',s0, y cnv,sv
O-orH I2, lsSt Presdens Of ass EArE Conversion
The oonseresce Was held s me vooTnsss Eccse this NJ
teyncoa.
Geo w. cuYLsG, Of FsMyrss stased tkSs the circular
calling The Conversion issued py him, ssses oorsuiss
sar viii fevev Of ske cosnxy banks, the Of the
Suspension Of spece payments by NE city pspks Of New
York, ard when seemed Kkey That he currency Of the
country wcud be r sbe bands OF he brokers, and ~ss
the duty az the country barss 10 prcecs themselves and
each other ,p he crisis Although the immediate necessity
for this movement do Dos exai, !sa well tnIs
preliminary Gseps should taken a the pTaseu. meeting
meet such exsencss might Axse upos the resumpor
Of specie pay BY the banks he ncnrssd Eosven
Burrows for ~ yesid<nt.
Br BuRBows, on taxing the cbar referred "a lhe events
which bad broughs about ihs meeting Those tine
sly sDo other saies r the Urson Re sa.ed thss much
ne cessny exsed for suck ccnbnaion Of the coas1y
osSss = 'noul0 hsm sssn. we s,. sn,ss @ oI
crcuaoss Of the counuy panss do no nov average over
thirty while formerly three four months The
esst tune for the return o. The cycuis''on Of bssk
A AS Of one eighth per oess wH thus I'm
posed on tie country banks ouce IN every
lion in thirty days, sacn bank runsrsd tax Of one and
half per ceas per annum wAs thought By those Who
mad given me ness aterron 70 The matter nss three
fou,tDs Of this ooasge might be saved by The country
banks having - sgency In New York on Albany 70 re
deem their ciTouatsou.
consideration % The subject could be accomplished
quarter third Of ine present charge This agency
establbbmert could Re called the Redeemfrg Ageno or
Of u fousdsson wa MOT only . reduce the az
pensss, but also 70 DC away with We undue influence
shGs S.v '1s .n. Ssn .I 70 ,ns city
and against which The country banks .: present in
dsvdoa,ly, make ereotuai resistance. the country
wcuId b simply nachine ssr he eolIecsor md return
Of the- pces, 70 be operated by their own pointed
whose
notes and charge them 70 the several oans the
sctuA expense Of operating he Office AZ thIs great ex
psBse wc0h be syed 70 ths country banks Some per
%, hiBs bas capital should be - ouoe rubscxbed for soe
esabrsnmeni Of the agency, say Of ~ por ths
circulation OF the country banks, making Up oaptAi Of
0bsr nov svsr' a. &c: 70 .s.s ., The p.. ,e,. hank,
hat ake care o. themselves no desire 10 take
Of others, spd that ID he objection "a having csptA'
be brcushs before the oonaderssc0 Of Ne msear ard
would Be . proper suhyess for d.sc1sGon Wheeler .
fuure mse;p1 psn ,oT oarpruS o,s "a, oS,ccs .orsss
70 be aaisod, ~ whosher thA meeting sn ld as noe m
on the detah Of ho proposed orgAniiAaor should Dc
very desirable so have ths exonause, cleaning house
operation some ma ths scr 70 The oi speoe psy
Cd Sew YORK Of sealing rp he bile ot ooarsry pIaSs
In psckASee AID nng nem ir ,be payneri Of balances
must ss1d 70 sccunussc aIe portion, perhags one Es
Ycsk and vicinity me consecuence vi be thss the
Of hose oAaks win como back food when specie pay
:.s -: - ~ -: =. =, 80. =: e s..s sss e.. 2
. crsrses: ysssSsSss - rs~ Ssr.e ssss.o. : So
tuned ne bsnss Of ssoe before "a, even, ses pace
and vii men be circulating among those vic Arow ne
ospn and have confdeEoe in stsn.
Mr.. BuRAovs ks~ u scuh be desirable V Inn he
could regain Ms circrstor from TIE Metropolitan BANK
and circr'ste a IN bis ovr vi4nty. where rcope have
fnl ecnsdeuos 10 .he stability o. MS BA,r.
70 pot toe Cou usy Bank Gearing Eocse ia ooerstoo seve
rs months prior 70 ine "a am pton OF specie paymen.
Of importance; wss the appointment cf nnttee By
the presen meeting call fssrre ooc versons Ee deemed
very nccsssyy fc' me courvs banst. ~ intervals, 70
hold meetings and oonsnA ogethes Tor the promotor OF
their mutual interests, and vas neccssry, osdey 70
his obsc tnsi such oom,nte should be ctosen
NJ oCrvlYyr, OF RyracrIe vss named "a secretary.
hr. GpoRap v Gum moved the sppontuens Q,
committee Of seven 70 report bnsns1 fcf Ire oouvsncr
The motion I'd ,psed
TIE CHAn sppointed The iolov wing oommlEee -Mcmu
Cryicr, OF hlmyn; Hswley, OF buGAo; aocnsstcr, OF
ccbssisr; nryk ksr o. Rome; Esses, Of Bath Judson Of
Oswego, and fisch, Of syrscpss.
The names Of pe delegates wero tLer taken, and .he
following banks and esA found &c be REPRESENT.
Cd