New-York daily tribune., 1858-03-06


Ift7.............. ............... s240 % .,oo
o. vth nis-est Il pf esu
Th. results t.sire eo ~lou, owrs F incress o.s on -
sigsf amount os-clfed ior GddoDs '."isbli' NO
.. os ~ Nd tse iBede
tbc yol Of tusDes. and risss slo ID oI
~ss than eoD9 Ufboat ntsest- would b .SoNn " O
70 sd'Jost Of 900 600 dr.~ns - ,tn- , bs.i
is clear, Therefore the, shsiev-- Pron. q, "a ~ .b
# ihs chsT-cter = Il necessity D. mad y n
arse'i possible proportion Of '1eh deposits or the 4
o'-e' ~oIS. sy etcrosctnE cs,eard 4 hr LsLs 80 a.
'l Isde: s,lors ron the amount whcn j. H 2.
h wGs.d bo4db rets ued for - oie reserve = os 4.
committed this ur', sIfo: of paying in'etss: On "
e'od fsse sep snd eIIsrd :s op@r;ion' By ono 81
b. Id. 4, :. .Ls.. -
srraIf~d i ne order q he- a. 81 pot a. lTo-itIy -
lac fur year. The ma sory u 'Ao-e % 'c ,ne -,
CHtee also ir.is. h., tsrss are properly lenders
sts ard ~, borrower. and thai II is not 90" Of fei e
t,. inc absfeT saeb toEs.i;ae
,p.cstoh money and simulate tendency n ne eoa.'
MY whih j. dan 20 a. sud which ,irsey yea o.
,ie wh degrucye power From the n1 re
a. ,.r or,aniop ,hy shold be ooseratve. Tney are IN
en0uay ies.c~d IN their operations within pre-
whh al b bo.ns ,hA. lon- exrersrc tas fixed .. coz
r sy .s 20 bernselyes and - the commcniy and they
sford spp4f~lt pfoht u ioster fIe p
is,1e viii TetarI JGTy ioT L. with &C ni-aea
banks are designed to boone permanent r;-ors I'D
brfre Law ihe highest motive. regard every Hf
Dhrb HI upon III ubBcs oI's.Ols # ne 20 mn
ho.e a character alone sr' sa-n Institutions a. 'he'
PaIt IN his oi.y have $50 interest and a no be
sted. The dc reo weasle't Of one op"rs'e 20 ne
u1ce and injury al and therefore u carrot b. 'N'y
hat any neuer has perfect sion n csg no pso. LOS
prnipe Of business which are e-Iesy - ~
DeIeny prn oIs, or injurious % the wnoe. Inc
~ ,be ., y.sr hss .tTsusly :te "a: oi Hts
dependenr and ye may remind some hat he practice OF pay
hso oDe case of recent embsIrassusrt. Bescsa c"1n
specie in this city ads ensete 20 me ayy q Nm %
having established eqitsbe principle upon which 'ha sona
,hoa he se S:eq e1. b. sB1 B.r s no ID mboy in Re se
pn ire of business which prevents i from Carrying m ,.s
b.. bs o,IeIs sri ore cor,.itorsy con.ervs,e,
possess higher Of their obgsiions 20 society a4 st
co. he ronmon sse,y canpo. h. 30 strongly condemned
1he known tact that such position may D. eretsSy
ought The opinion Of your Committee 90 induce every mel.
Of this Association cheerfuy 20 scquee in al asre' n-n
which removes the empsiion and n.ces'y 70 spar
esse compare with the benefits which every
member wod derive from the eomioT; sod pslLs shd 9e
In rep, to The objection tha. di.cons1e Of interest
would divert cspi.l 20 other cues your Committee WodTe
III, If the banks in other cis Do not. a. believe hey
would accept the testimony of experience, vel al
civ, hem opportunity 70 learn from :ne owai confident
that .h,y viii scorer or later reach the ssule result
~ tn payen Of interest ost attract c,pta
this city il is pain ttl, ii mas pr'due u-s-esd
and the community nsmlch thai capita which flows
OF is nat aTa cane must N the LAT re o 1ss, ddeny
repayment fact De withdrawn az the very
mert es convenient Tor the banks 70 pay Al ch forced D.
Promoting a feyersh money market and hiciua'lg y~ge
The necessity noe them al instant command sId a.
IN ias rse: is% has 4S 1i,en q s9
stitne. sno,heI evil ie & GsG~ ~ I' sH pS
regrded a. obnosious. tact hsk; having borrowed
1%s S.nnef and thus The system il
e community causing the unnecessary nee ana ls o. s,oe
be multiplied evils both financial and moral of the Stock Ia
hang. Tb- banIs thus bcoome 1euts Of ey direct
nd not nsturay ow becase tBey have borrowed money
which proftsby be used 10 sustain the legitimate com
Ot he
But youT Commute. believe that the drneer Of dvrtine any
this cty ,he financial
Of country large, and must continue to be the main
DE- pOs,sy Of is surplus flnds "inof ucn hhos induce
rits The well known ia that Geposit In New York o
valuable specie in any portion Of h' United sa'es mas
ed the legitimate pus depos 10 this city as the result OF
ineisbe law Of trade; Nothing therefore bat unhealthy
comJeon banks ha led 10 the OF Interest
AID such competition sa' aud ,tlre,ed nlrry I'M
banking system by It's OWE memter. TIE pro
abolish the practice amounts then 70 nothing
more nor lees than uuaImolt rsoVe 20 cesse ioH de''e
y arfore zach Othor.
M intercourse country ad the commercial woId dsy
,nces and that financial nsng7s az every ~h'fe t
udden ard nusnec The eNp"eure o. ne iis' year mas
kingy proved ths and must daily become sI more tpFi'
int ts h,s" improvement sdvaIc..
FOR the reason the traus')rs o: f'aag caId f. ~
POINT pon: daily becoming more rapid al 'risr l.
hole tendercy Of these Improvements l. .o osaia NE cen
rsXsiion Of commerce and captI a. -ch Fa1us Io.Hs
London and New.i ork.
Fcrurly that .:sgr ston q sss aud
cs.e OF capital would ooclr IN one oreiy whe ihefe We;
relied upon permanent In New.1os H.; tms "oras
Intelligence ana consequent: activity in CONNER Ia Atom
NJ, simultaneous and the laLcin current n more
spd and exerve the ocs points i've as'r comparative
rserye 70 contingencies Of o1nes a. uey u'A'e N
A. a, n,tTs,ion Of this truth sud Of the sssisn, harse
IF these deposits il nay not BE- sn,s 70 remind ae on s'
v hanks that during the Of ~ anlel ~ -"ntut ~
NJ the exaggerated r1or:. Of which cIred win
~ 5 ot iSbtn5s 10 every p. the iend, tli. rei
# .sonrstjon with ga 1syit'y lid bank. with iu-
peratye orders ioT The immediate itu'h - ~i 'el''' -
pece.
r ;herf fore prec the possibility Of PAYNE refe' ou de-
9s,s without o5rnusy increasing 1asrd fcr me same
s,of @y IF Se ios srt H., couGe IN he in
thin their walls, nor eSeo il III cy OF conny
bicL rru'. them they a. OL-', elements INTO
ne sutt+ Atmosphere trade ana tend t,er %
luce violent commercial rS l'o-s "h or th- as yesI
sde n rCt cf preventing the of such cssit-s,
bn ontiprsly bearing more directly upon 1ur Ely banks
They are Therefore by every considerable Of i interest
y m soo5 Win views and aims rea-hng beyoc the merely
poary advantage supposed 70 be denyec by any particular ltl
The example o bark, ii rea- s hs. been cited snow
M, of the prncpo paying interest. But 20 far a.
yor Committee the pratt Of allowing nieres; by
lint ,.ok banks (ou,y m 1851 differs wld yom ne
y.teni which Dr. yas with They i;scrmLae between
and an sccouut lot owing interest o. the tor
h rss of the tudruy vi and unwarFatsse bank
ns D. he. iuuors j: would ha-ty = sae % axe GreA,
sr perfect nod' for or tre hnsnclA oIeTaons al
bopgh VT are clad % De instructed by th -e eNpoueni OF
20 nd pr ncpl. any country Besi iAc bsS there o;hr
Nan the Bank England are o.; ihr POINT Of - feoTt whence
b. Whole nation +. 10 he supplied WIZ coin. Thei banks bear
u, The ss1ne relation the Bank of England country
banks do those Of this y Il may vel b. do bed THeheI
Banking 1853 snd he sSyert eis an IcaSy Lefsi
s .itrsr in his country IL vugld B' tie E4Ik o III
land n which the r,e Strength q ihe county e manly
,.utrs,,d. bss never allowed r'eres. on teposi-s.
It's slso Instructive to TemsI< ina Il Ie'n' o- l9h N
p uept OF tie bill esai4c the suspension Of .-e BSls
Cbsrrr AZ the v,y pa:cc r payus r'er,.- Gepo tec
IN lie moo FED tom there allowed ty oil stock banks.
,r ur-d bv Char ceor Of tie ENche4 prnci
I se Of The fusicia euntass meuts IN Great Brian.
m, very TACT also The bauss il New lork col-Ail 20
degree than any oher the corotnt-aied deposits q The
ma ion aud IN that tsI TIE l'ae sor .2r sp--ie re-
w. b.ar the relation 20 TINS country the Bank Of In
pisnd doe, 70 the Ited Mi gdo aud thai its
~ tsrt b sdopted Ds prE,s uizh We D. scdued
J, 80, nm the opinion JTersEe - sht
ID. t,- f.c o tbs: uir-d toty ~ -hs.
- ,tiy, te,ttu This nA-ion rendels ~
~ rnsf row IL .iIne tranquility Wit the memory oi me
- - s,,do Vi. VS. which prevailed GuriDE The cnas
av - W, .hsud -Llte esAhishLg u EuI-ir.ss
y, & A, ,ha pro, ourselves AID ne pubc fsE may
. ,,,;rs, the recurrence o. .imi or mist Jrtunts.