The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-23


REroBT ON THE rRESKNr STATE ~ ms vrsAscrAL
AFFAIks OF rHB COUNTRY.
An adjourned meeting Of the Bard ot Currency "a,
held last evening At Cpsoo Hall. James 6sIaIln Esq
President occupied tne enrm The mectng was held
for the purpose OF oonsi ierDs report SPECIAL ON
the present Of financial aG.rs Of the
country. Tue report presented BY the don George
opcyse, 10 behalf Of the committee sting Of George
opdyke, Vim. A. Booth Joseph lawrenee sstthe~ Nor.
san, and James Gallatn. Il nsDinousy adopted.
REPORT or THE COMMITTEE
The Committee charged 9Th the duty ~ nguirns iuto
the csuses Of the present nIssosl dlcuI.es add q
suggesting appropriate remedies, osg leave report
that alter careful consideration Of the sabject they
sfe fully conviccsc thai these difi,utes solely
ssuators and threats Of s-oossioo, have pro iuo.d
sudden oonrActi ~ credit aud In psued 20 BIC con
uoetce This constitutes the whole cificaty There 10
~ much money " The country - tnere hse ever been,
ana more wealth but the oircuslips Of b0tn IL tud.
denly checked BY a ~aei o. confidence ~ t1s
q ate future. Thoes who have surplus funds
willing 10 part win them rnsy prefer bolaDs 10
meet tbeu future wsnts or favorable oppptant.s
81 Investment Uon'eauenty. those sno need money
car bebe' borrow nor reaiize property seccri
ties without heavy sscr incss.
hn generally oono~oeo that this Ia the expsns-
ton Of present embarr.ssments All sdmt that
their imms diAte occasion the dstrust by the
political asiaton and threats W which we have referred
But there tnose who believe this " merely The
agency that hss given action osber and potent
Unsouudreps Of our npAr oiA or econom coalition.
brief survey o. the material Interests Of country
prove the uosourdrssr Of the optnioG
AZ no rmsr period n0 every section Of country
pssessed nue. wealth enjoyed equal desree %
prosperity All branches OF productive industry Ia
unusually touad and n0ufishing cpndition Ddrfug
the currens year agriculture has 9ronucod abundant
cpps, for ~hich there active iorego demand
munerating prices Manufactures, win scarcely
cepton. have yisced hnsral prhD. Osmmers Ia eli Us
oepatm,nts hss ariive and h.atny with excess
o' exports over imports, which sbo~s have
Traced Rar ads sAd earned larger revenues
A war
more actively and pron,sby empcsed
The currency ~ the country never been In q
snunder oondiuon, stable Not xsnstAnd OF me
Inherent defects u orr banking system the movement
y. eanss q the United states the financial u
lss7, has been uSsed by sret prsoence unfit unity
rner iDcrtas. 81 circulation and depos< has sczro
kept pace vi the Increase population c,sr ne-y
srd ncr spece reserve 70 noe up~scs o. $50 900 ooo
which 70 nearly much they held Of any .ina
prior " the Criss OF 1851
They thus c,cupy position o. urususi strength and
serrriiy-s posncn sheh u douoy fortified BY favor.
sos faaLce IN our forcsn usde This balance, Aresdy
isrse and rapidly sncuunaiirg must be liqaida,.~ In
part BY speee We shsi thus change the ~ the
precious metas Instead - Shipping hen Europe, a
ns'coiore sha Tor months At be receivns
len thence nese tec.ip,s, Together with tne ususl
ttree mnliors 9TH altoruis VII b. likely N
sre b. esrs o. civ speoe reserve OF $40 COO 900
An nus, sdri TIE sere-l ,ru,hfulpcss Of this p,o
ilre y rsauit an, quaiecatioo, 70 Ia relation
= the costp rosms sta,se stringeet money
market rss ersec 10 thst tection for months.
nut your committee believe II have ben caused
rsiter ~ uf~otted wospsrty than by . deficiency Of
ysArs have BEEN yeaFs of uuexanped prosperity 70
ths go~tfs ~ cotton The haze been larger
than ever hsiorc, The, have heen cold a
prices ar above The average he natural results
lave hssn en- mcresse ~ ..altn, q growing
csur c'rs, and lse. Investments negroes and
~ hrcs a. hub prics~, without corresponding In.
10 Their fr the bAnss Of the south
~ uuduy txtsnoec tber - being
tn tnst ~ the scrthrn bsnst, chile lner immediate
tAtilrFs s. mueh zee IN q xurd tbe chief difficulty
usr~ bs rapid Of wealth and busiaees,
suntut ccrssspduf increase q currescy 70 keep the
u.rtinery ~ u de 10 essy motion such difficulties
s.ny- kmfcssrs and hsrue-s and although thoee ~
hs -uth bet awaited the droutb ~
.'ta, doutt.ss rave ds.t peared 18th the hrst ship
ntr ~ the pFssent cusoa orrp out for the political
nsusss slrescy reserrva "
frn tho rsFio survey ~ ecroomc and monetary
wndhhn, -ih ~ seen that ,hey tree from every
sFr ~ nst oouid r'odnce ass'avsfe financial
oss On re ctpvy. 10 safe 10 cay tina,
nsFcta snf nisteisi mteresu " the whole country
Asvsr % fotrnsr eubouon than they 20 ray And
tt ve 80 hsm suddenly psrsiyp ed by threats from
scre ~ ne Suuuerr ~ases TIE thew wl secede from
he TIVE s~mT~Nl~c By he declaration portions OF
- rhc p-~e fs, uerosnte deb,s the North gill
- rec ssss
la 20 srsnins the.~ ard s-e whether there
sfNftHt u them ~N~f 49, uN ast.r the paukeys.
rsr''asv arr msrhsrv n ritz fror, rurvure sbe
ss~f tnts ~ wv nnsine~- We rrss suvros~
49, tey 80 NE ~ ssrusst .nd ihot they wtll
ts.s - Py~~ q carrytrs thsm INTO execution