The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-15

AnR 80 1877. llsbs8a '9 924i 378 1911 $50 go 6e0sN
Sop. g. 49, ll2 22 1895 10 227 1855 1872 81 500
Sept L. 67. 100 es5 672 l2ls Ss7 s372 3l6 81 33s I
Tho last compared with those Of the previous
week, exhio the following variations In the sssrsx~sss
Decrease IN and d.scorntz ..,.... s2 5,7o3
lhCreA1e IN specie 1883 1902
0,oreAse In circulation ,.....,....4....... 36o,816
Increase In dspcsiA, actual ............,. 1851
The banks show a contraction In right depAr,m sn,s
ard expans,on 10 the right departments The above
returns show that these nssnuons have strengthened
themselves very much within the past three weeks The
commercial eiasves have awfuy pincbed, but have
thus far stood pretty we'll In this city alone the reduc
ton discounts has beea awards OF twelve million OF
OF dollars about I'VE weeks average of nearly tvs
add = hsr millions per wes., In the same time the de
posits have been reduced about millions o! dollars
While the ooorsclcu " these DEPARTMENTS la, been
going n rapid rate TIE ,-ec.e reserve has &c
ed largely, and Low poins ,osohsd BAL al
the close 70 day the aggregate made very good snow
The banks have taken very good OF themselves and
nave beyond all question, placed themselves E posiuoD
OF safety II u they so, fortunate
that tbey had the ability to do The benss OF
this city the regulators or oil others IN eve-y
seoaIon OF the co-Liry, and 10 necessary thai
they should suens .oen themselves vito suca q
in view The organs II ali the soosJ,bbng and specu
hnDg ciques loud In Their denunclaoss OF The Ia
RAID few days since, becsuse poIsed out {, the
community the dangerous position Of ths bAS. AMI the
necessity existing for great contraction. We we're
cused Of desire 70 the panic destroy osA.
denoe IN u ese institutions The banks, seesas,
ained tho views did in regard - reds>soa Of
their discount line, and proceeded to carry them ilio
operation The result IL the contraction reporsd above
Now these d Interested organs abusing the banks for
contracting rapidly They tay thai the banks ought
not 10 call In their loans fast ba. keep ths, lines up
~ 10 prevent asscaf failures. they 20 have lost
tx~lx s.rfs 81.
banks ard the spec is.ng portion of the Community
that the banks Ia takrg o. thesevos n the expense
and ruin II spectators doso for
pote or preserving the eg Of business
and the great interests OF the county IN true that
banks hays fosered aud encouraged apoculaous
much that they loaned largely railroad
to the exclusion Of loroAae paper that they have In
been the OF he railroad naats ~hich
absorbed mech capital drawn from the scaupes
OF commerce; bat tney are pursuing q wiser and
gsuFe policy md beyond all question do
ng ever ythinF In their power alleviate remove
vs they have beer such active sgenls IL creating N,
condemned shs rapid steady expansion In ais
line o. orr backs mere loudly tnan I'D, AMI
secd SOLITARY atone ~ doing We shall therefore,
be the last the Tor contracting, for reducing
the iu,sror I'D mirging things down In the
shortest possible 10 q y, very bone. when there
be question . ther ss,ety and strength. Win
banks rgnts mere csG oe no greh 70
interest o, the corntyy. s.ecLsuons not ory DO
CHECKED, but ';usly killec ont We ratchlng
~ Ter temporary reer but are and thorough remedies
ior p,rmsnea, The rdou o, our banks daily
Improve ur1cF tie prsscnt sysem o, action. Failures
~i Tor mo.thr Gems he daily reported, stock JOB
otter spocrlsors wl DO annhi aod and among
the mercantile casscs oil The bADsrppts and ssogcnu
.Ill 30 Gown In good ume Ali this vii relieve the com
munJ at Ayse, ana be d vv, service ia restoring u
sgsn sound AMI besthy rate Of things Every thing
fee5dr upo5 The banks Of this city and trust steady
oec.etd contraction ia drcogui- w be exi bliod In
.heii weekly statements for uae to come 10 al
other cities the banks Strengthening themselves II 10
estimated Tia, n ;his city, Baton and Philadelphia, the
dUcuon discounts during the pss three weeks has been
up~srcs Of .wen,y millions OF dollars. That we have had
70 more failure, .peass the mercantile classes
sto~s spc have been very
Istrs Inc tell ercc; 81 this great ouRacon has moi
"a uen. Il la,, 20 doubt, take5ed may con
which may struggle along for . Tine longer, " al
dnsely ioin tho org nst Of ipsolyen but ~il bring
.be sIon rasdly - conclusion, and enable
70 lahe an earlier Observation Of position and bel
tor how 81 thnrs coming out
TIE psslsu and proc of The IL Crossc and Mlwa1
HE Railroad Company appear 10 be nas understood Ia
this market among stockholders generally Some
ttpk toe construction Of he has arrested
o.h,rs Lat a1d gfatt depends ugou many ooE,ln
.saco. lsls 4 came, he secured, and Nov, the
fscs fehoss toe road % n 's snd successful ope
ration tc k5vsrI cy, polt aDCus olgh ni,es
& Portage ctr 90 cue 1lfsol line 10 81 Psul The Con-
alractos Of The INC 4rogrtsipg A actively a. at any
lime TIL, year, AMI rlu be competed 10 the iuscuon
where the eiverses ia Ia Crote by the la Of De-
oemher The tancpsu " sixty Que miles uD7thwcst Of
Portage Cy The whole OF the distance IL the land
grant acsorens 70 the ter n. Of the .nd grant, the
uwliI hD I'D han nlo IA
ibs. pcni, 10 so 100 Of Land Inc npsny 10
tart enttled 70 most Of this quaptiy before the road
reaches the Iut ion. The section OF the his sub
iect IrGyices ~ follows-
me Title 10 said hpcs snail vr.t IA the .ald
and slwsukie R.i,oaf Jompa1y n the m.auer follow
ur, bs .. N say, ~berever twenty souruu0as miles of
sid road ehAl rave BEEN completes 90 |. q admit OF
rutnirg res-,ar trs'n. the of tbs
se shall cery W the Secretary NJ Interior the fact
that such twenty cOnhnuous mice arc completed sorc
.sd then the tile bundrtd ard ftriy sections o. ,ad
lsnos shall vest IN the IL Crone A~ausie R.lsnst
CcmPsnyi and chen second cooune Gus treny oes Of
raid road shsl have been competed If
resalsr trans on tho tawe the shat oertfY
pefore, AMI thereupnn further qnsnhty Of hia
Ored ard ,~erty sections Of sait had shs ssa
samfspy; snd 70 from time " time uoul sad roads are
oUmrie.ea.
So~ TIE toy ore uics from porlaee eli, 10 The Iuac
,Cu u Nfe. sooa90s, q! twenty mite. escn, conse
queniy H. psny enniet 10 isc .ecaups Of and Of
30 scrfs Zach Which rsTet an rgEr,g.ts ~ 30T go
Tho c1msl2ea & Ne road from P1Hase oi.g 10
a. irncc1 ccupsie' the re Of tho couri7y so7
sores q snt over .hoigA he whole aa shoult not he
ecmrl'cd Uhu NE ten Jsars upnad IL toe act Or Con
sress rea - Oo.,e Sld MI ~.rse grant s, there
fore -ccars tss' ,rlsn, tho value the aodef
tse thu. see fsd ca W. ta5y uiasd BY iaose
scqdsnted vhn re co1u''f Nc c1mpsny have solicited,
osed -. tct p rs psp,rtHs8i Ne ary o the
io'Ccr NE fape plans 81, ~ '1uF hundred tno0send
zee q cocte Aco between raosse cny and ihe Juuc
~. - cawrspy vtu ~ so.Fie3 % m,re taab that
suss'it - -, disslce G. t,ea bua o Parsgs
ctr. tn 4 irur D. bsfpe uUd mai ~ land grant