New-York daily tribune., 1858-09-09

steps bu' with s'ow and soucwha' ~ hes's,'ng PSee.
~ the Wet the crop movement ha, been larger, and
at important points the narIGs have ben quite extern
sivr within few weeks past; willie ~ the Ear. there
has been better trade deunud Cor menchanise, AMI
more activity in speculative way. One oi the IT
suits OF TIE peac. news ou China hss been the revival
Of an expor, demand for certain style, 81 Dome>ic
Goods and the restoration oi trade m that tirt'tinn
has no, been without gooi effect TOO on oar SNIP
ping Interests. These glmnerngsc ci 0r'iertin, Naond
not be the les welcome that they come isini.y and
slowly al first, for we hold it 10 be altogether more
beneficial 10 the bu-nes community 20 have iis return
to greater prosperity natural and healthy. rather than
spa,modic isversh and unsub>-autial. We indulge IN
no fears a. 70 the complete re,Stabishen oi onN'h'
that question should consider ooabsurdior di'cnS'
son-bu the manner Of il restoration aud the per"''-
have been to ject ofuO common interest, Nehe'e
had some anxious uSV ms as 70 the effect oi extreme
abundance. after great scarcity OF money, ana u"
little curiosity TO note the process OF distribution "hen
these idle masses of capital called from their pa'
ces OF Incidence. Were the expansion o: trade sni
credit 10 be anything ike the contraction, IN rapidny
extent, It's effects might be very injurious; but II
circulation be restored 70 the system gradually and
steadily. acts nvigoraor and restores to NOR
rugged health. Under these circumstances, We not
only congratulate business men upon the improvement
in business but ecice that comes at moderate pace
The Boston Post has the following upon financial
and stock natter:
Money is about a. easy a. on Tuesday last and the
probability j. that easy 1t viii continue To be for many
and many Tuesday To come. The best notes are
readily cashed at 5d5i y cent. Cali loans are made
at 5, and so downward to 8 in exceptional cases.
Small notes and renewed paper pay o y cent to the
banks. The specie in State street has increased con-
sderably of lafe and Is nearly up to s. 000 0oo
New-York funds are in brisk demand The Autumn
business thus far averages about twOthirs, perhaps
much as usual. The general complaint Is of great
stiffness but there are notable exceptions IN every
branch Of trade.
Among the copper shares - Pewabic has declined.
before considerable sales. To y dsl. We can state
positively that nothing unavorabe has been heard
from the mine. The of the depression to be
found in the dulness of the ngot copper market the
views of the bears and the weakness of sone Of the
speculative holders. The " bears affirm, : inti-
mated last week that at the present price of copper
even the extraordinary success of the Pewabc will
only be sufficient to pay expenses this year. that lS'
viii begin with the concern in debt for O00 or $50
600 for Ball. machinery &C., Nc., that may or may
not prove successful and that therefore considerable
assessment will be levied the Company will hom-
der along with large debt, subject to the vicsstudes
of the money market and to heavy charges for extra
interest The conclusion therefore is that the stock
can be had cheapy year hence As at present.
The disappointment about " Rockland also has
had sympathetic effect upon "Pewabic," for some
holders of the latter have been frightened into beev-
ing that nothing in the copper line is or ever will be
good but the 7Clf and :" Minnesota" The tide
will probably turn however in due time. Al present
the Pewabic, Quincy and Franklin seem 10 be very
cheap. even in the way of speculation; but il is possi-
BILE they may yet show a further decline. -,
Nothing new has been heard from the =" Rockland
or - Isle Royale The decline in the latter is the re-
suit of the opinions of certain people that it is utterly
worthless. The last accounts, however, were very
favorable. and the management is hopeful a. to the
ability of the mine o yield handsome profit after the
traDroad and other important improvements are cont
pleted.
The "Clff" and +" slinnesota" are presenting very
fine shows OF copper but there is no present life to
either stock.
From The st. Lo1. Esenn, Ser, Sept. s.
Active measures taking to organize "a brood ~
Stock banks in State of Iowa. under the General Bank
ing recently law adopted in that State. O course ST.
Louis and Chicago will be expected 10 take all that
comes Of that fresh flood of iredeemable money, and
turn it into gold and exchange. The Israeites that
were compelled by their Egyptian task-Inasters to
make bricks without straw, were not harder worked
than are these two Western cities 10 support the for
eign spectators in State bonds, by converting their
reaIns of "lampblack and rags into actual cash.
When viii the people of the Mississippi Valley rouse
up to the clear comprehension of the swndc that s
practiced upon them by the Stock Banks nj the West
Those Banks redeem their notes in gold or sill
ver except when they are wound up by the Con
troller They furnish exchange at the points
where il is wanted, and where their lying promises to
nav are gathered in the of trade. The system
of Stock Banking withouthe Clearing House feature,
is an enormous fraud and aseperpetuating evil that
will exhaust the West of lis gold and end in vast
pansion paper money and ruinous evusion before
many years.
Just consider the operation Of these banks, mo-
ment A set of -pecUators-nost probably having
their abode in Wall street, New-iork-obtain 80, 900
Of State bonds With this start they organize bank,
say on Raccoon Creek Wisconsin. They deposit the
bonds with the State Comptroller, who ISSUES to them
batch of bank notes thereon These notes are sent
To ST. Ious and sold, any like bundles of paper
might be, at T. cent Discount. Our brokers, bank
aud merchants give countenance 10 this kind of
money. They all say - its good perfectly secured
&c. and must take it else will njure the trade
Of the city," II il sold by the makers and issuers of
il AT q cent discount for Missouri paper.
The owners, through their 81. Louis agents, present
these Missouri notes to the Banks aud den0nd The
spe7e 1t is paid, and Immediately shipped to New
York aud invested in another batch of State Bonds,
which State Bonds made the basis Of another
bank on Wildcat Creek Iowa; and the notes of this
new wildcat in like manner sent to 1t. Louis
and sold for Missouri paper, whereby more specie is
drawn from the Missouri Banks aud sent away to
ganize such banks.
Thus does the swindling process proceed and multi
ply itself without check or limit The country IN
filled with worthless Bank bills that are never
deemed. The specie is drawn from Missouri Banks
and shipped to NewfOrk to buy bonds; and for every
dollar so los, We get a paper dollar in return. And
Intelligent ~ people influential Bankers see TINS hNlng
outrage Gu honest labor and legitimate Banking going
ON. and stand heedess if paralysed before the evil
We say to the Banks of Missouri that their
Branch redemption policy will not save them from the
eeching process of the stupendous system Of nom
redeeIifng Stock Banks growing up around them.
Illinois, with ten millions of dollars of bank notes
practically nconyertible into god-Wi.consin, with
eight millions of the same sort-lowa, with five
millions of the same. and Missouri in the center.
the only State paying goS-how can oar Banks
live under the drain OF being required to fur
nish the gold aud the exchange for the Com
merce which over $50 600 600 Of cnrrcnt but redeem-