New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-08

Inc Iuuutu uuu uIIuHutu ucUI VI tuh' ah1o VIZ
the fret of December, 1857, was as follows;
FUNDED DEsT.
SIX 2 cent = "a "a 5 SS -
-Four and hall p loan......... 2as 900 20
-Four 2 o s@, td St de,t I0D ~ %. s.
rSFusDED DEBT: 80
Relief note, in circulation ....'.... i4st ~ %
Iniercs, certificate unclsimed... 4tas 50
Dont;r~ ,.I Sn5e5 icn . 1915 20
7o., debt December !. 1857. .......s39 s8i738 q
Toto, a.h, Dec 1876 7ois55 3
Tos debt Dec l. 3sss 75s q
n.o,o..s 5orr, Tho Inf. fiscal og7 s.
In addition to this decrease OF $50 900 in the ndebt
edness of the State 500 600 were in the treasury at
the time Of the suspension of specie payments, apph
cable to further reduction but which it was deemed
a matter Of prudence to retain in the unsettled aspect
Of business matters The interest the debt, due on
tho 10. of February next, will he nr1"n''' - "
specie its equivalent and the financial affairs OF the
State gepercmy are represented as being IN the most
satisfactory condition.
The President of the Bank Of Che State OF Indiana
has made report TO The Governor, showing the condi-
ton of the bank on the 30th Of November. The lead
ing items Of immediate liabilities and cash means com
pare as follows;
circ,5 al.rlLl1Iss % .
rot.l....s2g757 o8 II Total 'ss COS "a
The Washington correspondent OF THE Ataay Ar-
gus says: ,.o
"Tbe Railroad Convention which took place at
the National Hotel in this city Oh Monday night, was
the means of bringing to the surface one OF the most
novel striking, startling and magnificent schemes
which have entered the brain OF man SINCE the eNpo-
sion of the South Sea bubble. 1t is worth while TO
| tell you very briefly what the telegraph does not,
namely, what We're the plans connected with railroad
construction and interests submitted to the meeting
by Gen. Duff Green, and upon which, as the report
Of the Associated Press says, there was diversity
of OPINION You will wonder, when you hear them,
how there could have been any ether diversity of
opinion than a simple difference whether the man who
submitted the plans mad or Joking
| Gen Green proposes first, that all the railroad
stock Of the country shall be capitalized and reduced
10 one denomination, and all the railroad companies
| in the Union consolidated into one grand mammoth
railroad corporation. This DONE and the railroad sys-
fem of the country in the hands of single set of men,
controlled by the interests, and acting IN concert
through one Board of Directors, Gen. Green proposes
TINT Congress shall donate all the public land OF the
United States 10 the PostOtice Department. as basis
TO enable that Department 10 make advance payment
10 this grand consolidated Hot Muffin railroad com.
many Of fifth millions Of dollars as compensation Tor
carving the mails. The company, thus in possession OF
fifty millions Of ready capital, erect mammoth IRON
| mining and manufacturing establishment al Iron
Mountain Missouri. and enter into the business OF
making iron. And in order further to insure Tue sue
| cess of the grand consolidated Company, congress
sha place prohbitory duties on iron imported INTO the
country and make various other needfu rules and
regulations with tender reference To Tue interests Oh
| the Company aforesaid More of the same visionary
| wild extravagant stuff filing up details and remov-
| ing objections was submitted by the General, AMID
| the icouce aled wonder and amazement of the per-
sons present suspect Congress viii not adopt the
Generals plans nor am afraid. the Railroad Com
| NAMES either. II they did, we might soon have Gen.
Duff Green as King OF the United States, and Panta-
| loon for his Prime Minister
| The annual report of Mr.. James W. Cook, Superin-
tepdent of the Bank Department, has been published
II is of unusual length and unusual interest, aud We
should be glad possible 10 find room for entire in
our columns. The Superintendent goes into detailed
history of the late suspension OF our banks, gives his
views as TO its causes and the errors OF the banks
which brought il about; and, although We disagree
with him in some of his positions, yet in the main he
has furnished valuable contribution TO the financial
history of 1857 and useful and important hints in
regard to the necessary legislation for the future The
SUPERINTENDENT considers the payment of interest upon
depo,its as one of the serious mistakes made by our
| banks and counsels its abandonment.
| The measures which the Superintendent deems ne
cessary for the stability of bank capital, and the
securiy of the public both as debtors and creditors
| of the banks, are briefly as follows:
The voluntary establishment Of country clearing house In
the CITY d New York Albany By the interior banks For this
| there is adequate power under existing avs
To amend bank law that bonds and mosase shall be
No ns.r received security for The Issue Of circulating notes
To compel all safety fund Incorporated banks 20 have on
III, L., Of 1uly third Of her stAl Ation T.
cured note third BY January 1859 and he remainder
| by July of the same year .,..,... 49,, ,,,,,.,
bankers wheth, free or Incorporated 70 maintain .pis ~
their vaults Of . 2 cent upon The anGqnt d9e psof'
Nh, bel ON, Of the 4 New York 20 be allowed 20 ;
pece any balance hir credit in solvent bank II either the
| City Of New.YoIs Albany or Troy.
In case that it is decided to throw out bonds aud
mortgages as securities for circulation, the Supern-
tendentrecommendst that banking corporations or ndi
vidual bankers may be allowed 70 commence the
business of banking upon the deposit Of 5000 in
| United States or New.York State stocks. Ii the
bond and mortga feature is 10 he retained be sug
gests that the enactments Of 1910 and 1874 relative to
bank capital shall be placed in such language a. TO
obyate the necessity OF Judicial decisions as TO COL
| structon.
The above we believe, are the only recommenda-
lions made by the Superintendent. Tue Rep9r staies
tha, tie entire loss Upon tho free er,na. on Of ihs
| State L three yea-s : cry l. Sc -. We aLreJ