The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-12-05

paper seldom demsnisd n any ssnsa ERA.
aDSS WITH sa.p Se rhsn ss
thirty ssn' which 3. A bank %. s.'s
,.os re- sn Ha arc ss q
s:.ss AFFAIR." Mss n,a,n m mssssy .sissss
lust :. :. s . never 81.
vansrabls At any point, or ansI .nv eream',snss
ysrSs ssrrsncss. Which crsiit eoo.I,sa, 60
ias up The specie. and for each dollar anser
and sa II ."s i. g
the thing and tbere shoua titles
s ssss pss mus rue
IN . sss na sa 81 M m
there may ss n s.a :: u s ="
regarded furnishing NE condition, y
70 sus end The hstoFy Of the banks 10 ,e United State 10
%s e. s osn s'
nS e ss S.e N ee more am The
eommerc,ai world than the command si
S1sS s
sss. due % h
based on actual deposits Of coin waa have given no ov
s Of Try has ess u % Ss .
entered largely into M composition h.: proved an ioest
Ss.is xs ss, II: had S n
and wheDe,cr the demand has made rcempon
ns been q
y: &: =. %
that period We haye had currency exclusively Spsn
have been exempt from all currency panics or
rGoss the herein maintain ANA
Ne That ss,s :. -
been 70 ss '
aa y =
!sr'Siiy y redeppon which The sspsiaiy .se.piea
! So: n ss s'n: :as$: ssas
Ths ban involves The fecosnicn OF bullion dealers
Who shall DO entitled 70 regular and legitimate
s
for nothing Trade adapt itself % this basis.
would casl%.s and allow these pre- or
and dsusivs element. -
theory which has found favor year.
embodied IN the proposition that he currency should Ss
na at :Ss
ss
sSa 81 o the
currency nov Just no long this take has
sssa % ct
ships associated in The public mind vita contraction The fun
srows sai:s area l.ssuppcsss ga. iss
ss nj I'M
p
h growth s n
ss
lar conducive 70 prosperity to make 4 probable
ss . ss ;1s S'
v likely to Attain such den. rsqars the sSe
se
win rapay with so
that S then W
occur n There mus - Ss e. .aey CON
and silver the currency. there must Be reduction
% Of & ss ss
as not q: cause contraction
q Si couess nor ss Of arbifry
I TSs lot s Be 70 he Sa
urged against contraction now.
AFTER EEsUMPTroN--wHAT?
But whether the coin shall be added 70 the and so
the H o ne p.p ana . BE-
&c Inc s % % e. &c e. @ Ri
,ss
s: .ss Ss;.s 81 i
1oS b. legal s
s g. .ny r o the ss nS,
Or Se,s asSe:s. sna money dspo.es
osss " i've Of q e. s
hs S.nIs those cite. would .sTse settle iSsr
NY @s:;: sss
Sans: pay al deposits IN and ss
e plague ss's able %S 70 %. 'a s
demand you'd 30 practicable 70 place hs on
isS.ies Of Inc Sank. similar ios.ins IN
s:S
hs Vi. The ss"ni p % %a
unaer1e Inc financial management, he great
centres q money and Tnde. n New York can
seg b
any a%s
s s's
ties TO into effect During the last five years
fact than upon nc
have been not les: three during
last had I've o ss paying pss sss sfs
asS Ua ps not their h c
culang notes. but their deposits and this a time when
could have been oSsI a
% Se on and ss S
~ ma: s 3 sS:.$s.
I :. q. j s1ys. =
equally
the s arseSn q
mpered BY the undertskngof few banks few in num-
e ss
the risk b." e deposits could DO made pay Payable IN
mahi Sshs deposition could hav: asl around d
| maintenance of specie payments would be removed.
solution OF these questions lies OF the i'm
problems of the day. but In view of the various the
probable that The solution will
come only with time.
The doctrine contraction . end for the
OF Fastening to specie has
condemned BY the people l. has been tried and sected
may considered abandoned. The proposition 10
wait until the business of the country shall expand to such
an extent as to require the whole volume OF paper mo-
Dey circulation Involves immediate action.
the views Of tho public fully than other plan,
and probably safer than scheme which egis
ave interference Also very evident that The under
\ rency debt the country specie basis, BY the
payment OF deposts In con would be unwise aud mis-
vain futile attempt which would lead 10
pancs and failures in the future as in tho past II peci:
payments be resumed, let the effort be concentrated
the currency and leave deposits and all other currency
direction, the associated banks In all cities should be
required settle baanccf through their clearing houses
funds. The dacredfng OF national bank
rcncy. which 10 the consequence Of their present
uatons this respect unwse and injurious, and creates