The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-08


The National Currency act requires every associa-
zion 10 make report, exhibiting In detail It's
sources and liabilities the first Monday OF Janu-
ary, April, July and October Of each year. In addi-
ton TO this, every association Is required the first
Tuesday OF each month to make statement exhibit
Ing the average amount OF loans and discounts.
specie and other lawful money. deposits and circula-
ton; and banks not located In the cities named In
amount due them available for the redempti on OF
their circulation.
The quarterly reports coming. as they do, upon
certain specified day, known In advance, and for
which the amplest preparation may be made can
hardly be expected TO present the actual working
condition OF the banks They are OF course careful
10 exhibit the ful amount Of reserve required, and
otherwise fun compliance with all the Important
cities especially In New York. that this plan proves
most objectionable. Gold and stock Spectators,
knowing that AT q certain time the banks will make
Il 4 point 20 have fun supply OF lawful money IA
Their vaults, get up combinations for the purpose or
producing a scarcity Of legal tender notes and
FOR government state. railroad and other securities.
National banks, held 1rmy to the requirements or
the law, are seriously embarrassed by such rickery.
Their necessities compel them TO have the lawful
money at any hazard. Besides the damage resulting
from an unnecessary and forced depression OF public
securities regular commercial transactions are i'm
pedei, suspended, or forced TO he carried on az
ruinons rates owing TO the Artificial stringency thus
produced. 1t IL becoming more manifest as one
quarter succeeds another that the evil Ii becoming
trade ana legitimate business OF every kind. which
depend upon the banks for their usual facilities,
subjected 70 great inconvenience, hardship aud loss
This state Of things calls Tor prompt and enicient
remedy. This may be found IN an amendment TO
section thirtyf0ur OF the act authorizing the Comp
truller OF the currency 10 cnll upon Che banks Tor
five detailed statements or reports during each year,
fixing upon Some day thai past FOR tue date OF the
report In hs way the condition OF the banks may
he asccrtaned ut irregular intervals, without
previous preparation on their part; and the PEE
Rod when the reports VIII be called for being un-
known To tile public outside operators viii be pre-
vented from couspiring against the banks aud the
honest trade OF the country.
This subjec, Is commended 10 the early attention
OF Congress.
The subjects OF blanks Of voluntary liquidation"
"a central redeami1s agency 'Jhe periodical
s.fingency IN New ofk city," .'specle payments
free banking" kc., discussed by the COWptro,.cg
have already appeared IN our columns.
THE HESTER VAUGHN CAsg--IIrR DEATH wli,-
RANT NEVER lssuED.rhe Harrisburg tDcc - cor
respondent Of The Philadelphia Press says-No fur
Their action has been taken ia the case OF Hester
Vaughn. No death warrant has yet been Issued ~
the Governor, 80 that repreve IL necessary Cow
crnOr Gcary has informed Hester Vaughn nas ~
will never enforce the sentence OF the court NC oc-
leyes. however that she deserves some pnniSncn,.
AMI no viii ask 10 commute her sentence ~ = ~
OF imprisonment though, OF course, ny qnis
pardon h siu usnef advsemeuL he '.hs .,.,, ~,
effort 10 make her heroine a. inllucsot -" ~ ~.
proper IN view % her frank confession =, Sns -
Cooke and William q. MOoehcad nave ple.ko '9 a
selves TO dclra} tue expenses " hei iS'sH " la
! land should shc lie Lasd0uso'