The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-17
THE CASE OF TIE CASHIER OF THE AGRl
CULTURAL BANK OF HERKIMER.


THE CASE OF TIE CASHIER OF THE AGRI-
CULTURAL BANK OF HERKIMER
HKKlMrs Wis UaoA, Oct. Is, 1857.
The Grand Jury have di,missed unfounded all the
complaints made against Harvey Doote, cashior OF the
Agricultural Bank Of Herkmer. meeting OF the dlrec
tors and kholdYs OF the bank rep escnpg four nhs
Of i capital had previously unanimously certified that
the charges uafoanded and that they had entire
confidence the recsver and that hs appointment
necessary and udicious and that they requested his
tinuance
THE MONEY CRISIS IN MASSACHUSETTS
THB BOSTON BAkK-nIkErIka OF BOSTON NJ oHANrS
BsroH, Ost 15-P. NJ
Tie Massachusetts Bank at the meeting to-day united
fully with the other banks in tina suspension. Il IL SAID
though this bank ostensiby held cut yeitory, but 1t only
redeemed is small bills.
There was very little movement In stooks to. day.
All cnanc nj m alters remain Quot.
The suspend OF Little Alden 20. was published to-
day in Ihe Journal 7rayes, and osher noraog papers,
but their suspension u denied n per tho following
Mr. Ed rands, of the PAoino KILLS. publishes sa-d ask
Ina Of the oosSti OF corpor FOR
ak months after mxurty, under which s-rangore,y, his
a.. ole and their nil, can BE- Kept in operator gsrsrs
Lite, Alden Co are the reling agents OF the Psch,
As and ba 20 not suspended, aad VII not h tho Paoic
Wills obtain the extension osked for They have very
limited lie oilitee In his country.
B,sros, o.. 10, 1857.
meeting OF bank directors and Leading merchants was
held tn forenoon which tho policy OF extension of
money facilities ~as discussed.
Mr.. VIM APPLETON though, that the banks might safely
increase hsr tbs amount Of that OF last August
$s3 900 o0O Al the present time they amount to
about $40 COO
Mr. NATHAN APPLETON expressed similar vicws.
Eer-s LAMB and HAIL. for the bank oloors, expressed
their earnest desire 10 far ~ their present position
would usfy, for the relief OF the busness Community
The meeting then adjourned IA tomorrow morning.
Ths money market remains quiet, sod eyorybod ap.
pears be waiting the result Of me suspension. stooks
show . little more activity The specie brokers are
realizing small ,alns, gold being plenty q. pcr
premium.
HON N. p. BANKS ON FINANCIAL AFFAIRS.
Bosros, oct Is, 1857.
In the face OF drilling rain and thick FOG Faueu Hall
wded to night hear the address Of the Hon. n p
Banks Republican candidate for Governor OF State
on financial auAirs.
The meeting was political one bat the annouucemen,
that the ds,pg geEtean would devo.e most Of
address the and remedies Of the present all
absorbing financial c,nvusion, filled the hall carly With
people Of every shade Of politics and social poaition.
Hon John A. wilkins presided, ana introduced Mr..
Banks who received with the GREATEST enthusiasm
Mr.. BANKS commenced By saying that when no engaged
speak In Fapeul Hail. he oesgned speak the sub
ect Of tho policy OF the se and nation and the
great monetary crisis which had been brought upon
ooup,ry The distress caused BY which possible
rass In silence lie comphnentea tue mon Of tbs
city Of Bost,n for The courage vigor with which they
had met the storm which had suddenly broken upon
them the union OF and purposes employed
fond IL evil The steadnoss % theit position
had sustained tie business cnaa,ier OF the city which
her chief honor Recurring again 70 tho subct Mr.
Banks said tha, no one csuh pcsdby avoid . feeling OF
disiress accoun. OF the suffering wni III
the Monetary crisis had oc~aoned Fortunes that had
tell genoe unveared industry and fruGaly he'd bsen
dsraisd IN night In be .ss ing away OF the great
commercial landmark there haf been . corresponding
wreck u other interests Every must feels mpShy
for labor wihos employment and support; labor made
the coming winter 10 would breadlos with all ,ne
TIE suffering ard ioss consequen, on l,e crisis vhi,o
naa eIponS S Sse 0un 20 .us %
without faults u their own. oas Wow OF tho
,ubjec, indicated seemed 70 No Ranks. that The gone
raj disability Of the period would be bat tsm oorsyy
The country was never richer tbsn 70 day, for
the Agricultural crops estimated ~ value Of tvo
thousand millions CT dollars and the product OF manursc
turing indus ~ nj about fifteen hunnSod mions With
our means of sterccurso with other paru OF the World
the enterprise of our merchants, tie economy OF
famies-n fact all rsrsons would irfass into tue ooadi
ton Of the country confidence vh8i would cusble NJ In
iev mouth, to arise from the fail va had ox,crisnsed
The spirit OF economy which mgh, be impaired 70 oar
rational lie would enable speedily W recover from dis
sstr there could be no jas, oomps,,on bes~cen TIE
"
Of that psriod were fruhless bos regards agriculture
and manufscturcs Capital 10 toe latter mephoscd perioi
su.., ,1c.s.. 81 ,ss oora.,, mere vas Ia isiT 30.
~ eo In specie In the who's country ~sn sts 600 900
Of exc'lsion IN bark Paper NOV, lss,, 10 isse, &c
hcve was $3.50 ,oc0 In spcole Probably t,ere wss
s2seoo Osb ste 900 COO Of bank Roses
n circulation 10 his sato the banking ioterosi vas In
safer ccniu ct present tran In 1857 and the conndoucs
~ the reople In this particular gresrr and the feeling
OF hos,ily u tbc banls ~as far icu In regard 70
NJ the r. -
coyepg their political bearings and here sr Banks wish
ed that his purpose was speak Of ins policy ana nol 10
their conceptions OF monstAy affairs few esoi n fAols
would preocde other ooiervauous sr Bsnks had
u,op ana fair euo ds.,on OF oor dinisulues Assn in
portsnt fact this connection might be Ead that this
h,ve occurred This year An Opportunity 70 haze uaus
ported the Agricultural products from the vslev Of the Mis-
sisslppi, which had yielded nearly aoaole is usaAl
wealth 40 would have enabled merchants and psope
meet all demands sgs,ns' them. vas, therefore, ia
sort panic hist had proiuced the dihccliy M
Nnhs would not dc1as the or tbs panic, but ba,
which had contributed ms,erially 70 bFtus " about
Among her things fsce 70 be recognize, that
the govern ncns OF this country 20 ~er that lhs
government had beth an op-u aud tact ihlience-h
had duues vhich u could not svod and re'pousibIl
ties which had IN meet Tho com mon opinion
that tho initiation OF tue currency was the soe case
OF the erirsvsssIcs Of The nmcs, ooIn Ia expend
ture and In trade, must be aAon with some quslidcsu
There -eTe other ard des-sr -hl6h nigh,
only s,ibuie pobc and private exusrAgsncc Ia tue
OF ne and w exfsnt o. oar
ness yeiauous bot 70 who's m'ght attribute lead
log blame he nnsicn Of the currency Paper money
mst have hieshed into the erenn ~ HE, oshcrsss
could no, 20 alone II cannN eniou ITSELF vita life,
but q vitality must DO impaired 10 II, WHISTLER
| 10 produced by the people or By the q ve,nmsal
Measures mar be devised 20 sveshs oarrenay "
ty greater stability By limiting s upcn iu specie
osp There were hfy millions Of dollars Of bank noes
in circulation ~ the denomination OF are nosrs and
DOR and tho time not far distant when there would
be 10 the adoption Of permanent measures
that w tend 70 ,he snoscaon Of gold and silver In tae
hands 81 the people FOR the small notes heT nos hold
In compensation for their LABOR, and tha would
tend more than any o,her event 70 give sta
billy OF . soHd chs-scer 10 our currency
Ybere was deposition current 70 reAin gold an
silver. People parted with every other product WIN
peaaurc bui precious mea lbey Vi long
possble Gold aud silver TO- the par OF labor, and bank
notes Of the higher dennmnat1ns for com nermh pur
poses would be even where comfortable and safe tia OF
value In 1919 ID ninsraon undertook tne cares
~ govern ent In this Union and found ~h "a enpsn
cuye OF fb4 COO 600 and The Isl Of JAY thai year