The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-20

The Money Crtsts I'm Hamburg.
(From the London News, l3tY Artice,) Dec 2.
The check to the markeM In IOadon, was aggravated
by that the monetary pac p hsmburg has reached
an alarming height THE gave rise % a0Ioanded rumors
for expectation TO that city The operations IN e puion
department Of the bank day consisted Of pur. u
about f6l 900 In newly imported gold there we're M
Withdrawals. But no one possessing an acquaintance
with the currency system peculiar 10 Hamburg can fall
into the Of supposing that shipments of gold can
be made from this side for the relief Of the community
there The Hamburg currency based solely upon silver
and the crash which is going on amongst It's com
mercal houses, solvent and insovent, furnishes an
idea Of the inevitable consequences Of panic amongst
q community who bound irrevocably in the
letters Of purely metallic currency. Confidence
at an end in Hamburg money is no longer
obainasle This morning gave the names OF SIX large
houses which had just suspended To-day we have 70
add eve moreviz Mr.. Conrad Warnecke, Messrs. Wag-
her Enett, MessTs j. c. Jacob Son. Messrs. Barbeck
Wall and Mr.. j. p. N. Jahncke The first four all
in the colonial produce trade; the fifth money chang
ing house. Many names freely spoken OF.
To relieve the universal distress, being
adopted for attracting silver 70 the city from all quarters
To-day some incI8se in the demand for money was oc'
casoDed in the london Stock Exchange owing to the ope
raons Of the foreign bullion dealers, who eagerly bought
up for shipment TO Hamburg all the available parcels Of
silver IN the market The General Steam Navigation Com
paDy's vessel John Bull which will sail from the Thames
for Hamburg to morrow mornug, has on board fsl 500
in silver This silver would probably have been des-
patched TO the Fast and s transmission back to the Con-
nen can scarcely be said to form an unfavorabe feature
for our market
Hamburg (Nov. 2s) Correspondence of London Times
The freehold burgesses OF this city assembled yeser
day morning. in consequence Of unusually short
mons from the Senate TO receive and consider important
and exraorduory proposals relative the of
relief deemed necessary TO be afforded to the mercantile
and trading community under the existing crisis,
After being made acquainted with these proposals
Wrcn were simn'y ttha the OF from ten TO fifteen
millions o marks banco should be granted 10 the govern
ment the shape of Exchequer notes ready money,
the purpose of making advances upon goods not OF
perishable description, upon State securities, to he
repaid (cediRdr) at latest by the end OF Juyw 1898,
such advances to be from 90 to 6625 per cent OF the
tFat,ta of uad
the burgesses retired 20 their respective parishes
vote, and BY clock they unanimously decided in IA
Of the Senatorial proposals Many, however were for
Amendment to the effect that the sum he altered to
ftC 000 considering that less amount woud scarcely
sutce TO meet the emergency butreframed from propos
Ing IT, fearful of causing any unnecessary delay 10 fhe 81
ors 10 restore confidence the public mind and which
happy say have had the desired effect TO sonsde
rahle extent,
A committee Of men of high standing in the commercial
community will he formed 10 draw up the best
plan to administer the relief thus atordei but IN some
quarters wish has been expressed that the issue Of notes
the amount in question: or to greater extent even, and
bearing rain interest had been proposed by the gov
ernmebt current banoo paper BY which more lmme'
date and direct relief would have been gwen and the
placing under lock and key OF the pawncd goods might
have been avoided However all are OF opnion that
something better than nothing" under present crcum
stances
AS many as fifty six firms have decided upon redeem
ing their acceptances due in from week n month
from the present time, and many among them without
deduotng any interest for the time wanting TO ar
rive at neutrality-suspicious. again merely taking small
All these spirited endeavors to support the credit Of
their neghbors will doubt be considered extremely
prasewCrthy.
The director of the Austrian Credit Bank, Mr. Self,
rived yesterday in this city, in order TO take 900 900 OF
bills, long short OF the market, which viii
tribute also TO relieve some houses from the extreme
pressure from want OF banco and IN consequence Of this
and other favorable circumstances occurring almost hour
ly, the feeling OF the public mind is beginning TO assume
greater tranquility.
The Committee the Credit Discount Soscety has been
exit emely active and the number of applicants 10 have
their paper stamped by them very considerable. The
bills stamped however, by the Committee very
fully selected for any bearing the least impress Of rogu
ulaIny upon them promptly refused.
Mr Charles Ieine has received the amount OF amon
and half banco in silver from Paris, and Messrs T. H.
Merehe &Co expect immediate supply Of another mil
lion OF banco in silver roubes from Russia, which
qured support the present banco circulation here.
The two firms Of Carl Hene Of this city, and c. H. Don
ner of Altona have laid JOINT embargo the
eyant in harbor 10 support claim OF 900 900 marks
bsnco which thoy have upoc The rm Of Messrs. Nay
Vckars Co., which vessel reported 10 belong to that
house.
Letters from Berlin alluded TO in the anielaa OF this
Moses Co u Stettn This failure Is to the amount Of
800 600 thacrs and promises very III 10 effects remain
iDg 10 the creditors.
have heard from other very reliable that no
less than eight different firms have suspended their pay
Stetn, and less than thirty houses er
in among which j. the Of 400 900 thaers
and the ohe partner of the house julius Cohn having
;orgeda check unon the Berlin Money Society (Cassen-
Neteln) for Is ,0Oo, has committed suicide.
For the last three days there have been failures
ali and upon the whole only twenty-five occurring, the
majority of which by involve any large sums
gagged in "kte nyng on which account they have been
allow la fall unaided