The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-09-20


Snchange, and rates were steady. Bankers biIls
hasiand sixty days quoted icT AZ;
Gays, los; and bills drawn upon continental cities
nominally the same yesterday.
Mining stocks continue strong and active under the
manipulation of cliquea We, therefore. think well
70 caution the public against buying them for invest
ent for although they 20 higher they viii proba
by decline again TO their former level Tho market Is
entirely under the control Of speculative brokers and
Dsofessiopal operators and outside buyers therefore,
have considerable odds sgans. them. II is the same
LINE rndeniable that some Of the properties repre-
ssnted BY these stocks ~ rich in PROMISE they
Aavo yet to be developed abb s course Of the develop
spent viii be beset by host Of uncertainties Al the
nsy board Atlantic and Pacno closed e0c higher than
at the time yesterday, Benton SOC, tsunnel Gold
lsc, Holman Gold ioc, Hope Cold TOO, Keystone Silver
20 At the second board Columbian Cold and silver
closed $50 lower than the FIRST board selling 81 co.
Consolidated Gregory Gold, $50 selling sl7 IS; Cory
aoa 100. selling al 81 Hope Cold &c., selling At 81 7b
New York Gold, 1oc selling at "a 90; Smith panolee,
loo, selling Gil 90 Bates Baxter csc. higher
selling at % so; Quartz Hill l5c. ceiling - 10 Kpp
Buel sold al rs. La Crosse Gold 81 ~. Liberty
80 Montana ESQ, Texas ooc., WAIKIKI Load 81 10.
There is gut Of American silver in Canada, and
ssps brokers' Offices those who hold II cannot In the
sswsr provinces sell tho quarter dollar for more than
twenty cents and At Toronto II is current only
80 40. Al the time we learn Of semi panic
u Montreal In consequence Of the suspension OF the
Bank OF Upper CANADIAN institution which has boon
looked upon lettering for some weeks past.
fhsre Is no doubt but that the revolution
going forward in Canadian finances contributed to
Ne downfall Itis however, stated that tho deposiors
secured and that confidence Ia tho other Of
Canada Ia unlmpared. Tho immediate cause or ns
fure IL taceabe 10 the system Of clearing adopted
~ fha hook hlrh 40
witch some Of the banks had evidently depended The
Bank Of Montreal the largest bank 10 Canada sniua-
nsously contracted and called Ia ts oans THIS IL H.
understood 70 have don. for the purpose Of
crisis and forcing tho goverunaea. 10 sdopt certain
measures which would DO likely 10 ,sa.l. =.
great benefit TO ITSELF The revenue and expenditure of
the province for July OF the present year arc thus de-
scrbed Reyenue-customs ss7t 600 IS; excise Sis2.
is3 s7 bill stamp duty, siooss 30; Crown Lands Do
partmont tl23 $50 OF; Post once ts5els Ia miscei-
isneous t1s4,1se a. Total, 1,to7. as 90, expcpd-
turc e67 800 90 The statement for tho month end
ing sis. August 1900, subIoincd. Customs
ssIeeH o.; Crown Lands Department SEQ, 2s5 10;
Posi- once, f63l5e 65; miscellaneous, tiel, lT5 as
Total, 81, 657 a.; expenditure VI 14o5si %. 1t
seems 70 W. tina, Canadian Frances have been greatly
rasmanaged 70 mako 1t necessary, dernir resort for
she government 70 the functions Of bankers In
ssuins currency and u Ia larpcnisbe 10 see colony
"uch ough, 70 DO prosperous situated Canada w.
me verge Of insolvency and the mercy Of local nnan
eiai pctentatea
OF the essential portion or the act 20 provide
fsr TIE ISSUE Of provincial notes finally passed by tie
canadian Parliament, s A. rcllcws.--
The Governor IN council may authorize tho .sre ~
PROVINCIAL notes, payable demand of .uch
i0nai values and In such form ana slrned nv s5~i
persons and IN such manner by n,horrapb nr,n,,s y,
otherwise, he may from time r. TINE direc, ~ an
amount not exceeding in the whole ss 600 srcsp.
hcrenator provided Such notes shall b. tetasm.hs n,
specie, on presentation Al ocos ba es,ahI,.bsd a.
Montreal and Toronto, and that 81 thc ala
at which they may DO respectively made payabn 800
san be legal tender, except nj Tho Offices sforr.sis
TIE Governor Ia council may enter into arraneencn,,
With all any " the chartered banks Of thu pruvincs a.
fhe surrender or before the first day ~ Janvnrr
1888, Of their power 70 issus notes and n az
Tor sach surrender annual not ecdng nye usr
cent upon the amount Of Ns circulation AZ estabrsfe
w The nesshfy return upon the 20th day % Apf 1sos
sH b payable By the province 70 each bank suf.
wandering s power Of issus aud reieemlns It's IN
circulation until the expiration Of is charter and the
Recover General shal receive the provincial debentures
held by such banks In compliance with the require
menis Of their respective charter in exchange for pro
yinaAA notice and shall sso pay fuoh banks one hal
Ne estmsed oost Of thor upssnsd notea In enterns
Fts any sueb cement ~ Aforesaid with any bahh
the ecvssnoy In cvoDcI may provide either fos abe i'm
s>sf"ss o. ~ srseas GzpsneS q ~ ssvwH hrns