The New York herald., 1873-11-12

inrmcn throughout the country, ana IN this city
particularly, would do well TO bear these lacts IN
mind and prepare themselves for this new deal that
@ q Se
try, whether that be sooner or later.
oaSERyv. AcESSwa.Dstn = & o. s,sa TIE s,Tga1os m
hasten this revival. It would be wise policy on
itiative In this direction, and secured compro-
mise in the transition period upon which We are
lust entering, that would secure them employment
this winter and bring them by gradual approaches
to the full decline that must come with resump-
ton o. p spees ,a 'sSor s would be best
ing their rules SO as TO permit members to enter
upon work on special contracts. each ior himself
membership. When business shall have
resumed q normal condition. and through
nsa ound their m s nsM
order the unions might then resume their super
vision and control with an enlarged experience as
to their rights and privileges in the premises.
Workiugmen Just now very Justly complain that the
snrinkage OF values upon which such stress Is laid
at the corner grocery store, at the butchers and
bakers; that coal Ia just as dear as ever and
Is too much truth in this. The shrinkage spoken
OF has not yet reached to the level OF the con-
o9S will come 1n ana - nS,s o ane
above suggestions are MADE
Proposed Bank Reforms.
yesterday received the report Of its special COM
mittee upon reforms necessary in the present
banking system Of the country. with special ref
crence to the associated banks Of New York. The
report is sharp lncisive and thorough in its ex-
animation OF many Of the faults and evils existing
in the present system. candld In Ss exposition Of
such and outspoken in the gesstion OF reform.
1t ias short, however, OF the popular need, mas
much as it limits those suggestions to continu-
ance Of the present system without reference to
the great reform Deeded-free banking. Sub
joined is the report In full. No action was taken
upon 1t yesterday, action being deferred Tor one
week.
House %ssocisson 10 carefully consider report
% es: osr sa Win s %
the security q their busness respectfully report
Al,
Bsnfs sss he dspos.orss tie current capi
q
20 ans 9ss nsss:nsss ssss
yet ready consOlidated into a.sd capital
nature
sssS rays 4 x s% and ss% into only ~
also to hold such 4. raa ss
to in
i wsS %sy Hs Ss
full equivalent for any benefits which can be honorably
nsiton IN deposits Of
as
s's e "a
saa
'es q
The creation Of many institutions since the late
om
ss equally T. 1aSRs Of obtaining
a Ss s has sas
far ssss N o o
ciatss has led them in pursuit Of busI not only from
throughO9t the country have been qssd enlist in
IN hs has
been given which LEFT 70 Itself
s sn hs ss rsaa " the
sss e sSs Sut sdd
ssnss sss sssPsy 1aa
sssssS s s arc % s
@ 4 i asa % n ss
which dows 70 and rom the co@mercisi centre
ssasss $ s q
absorbed and diminished by redemption,t accumulates
n banks which cann0t keep II Idle without loss OF tho
merce does not then. demand It is still
subject to instant call ). There y consequently
stocks and bonds in doing which much Of the nations
movable capital passes for the time into fxed and inn
ter is instantly changed. Loans made with facility
upon securities which have no strictly commercial
aged Wild specniations are stimulated and the thought
less and unwary are betrayed into runous
ne na' their ns ssms S the
and they can only be turned back with difficulty and
public embarrassment Such has been well known
consequence fuctuated widely from three and four
per cent per annum an summer to fifteen and twenty
per cent in the fall and winter upon commercal paper,
and upon stocks at times to onehaf and even one per
cent day vcissitudes like these utterly destruc
tive to all legitimate commerce. and institutions whose
deposits which are derived from strictly commercial
produce disturbance in the community and banks
which confne their business to them, they naturally
their managers and safety to the public On
Of q oeswss ana wch of
necessity be largely loaned ION demand" are the
them charge. They are certain to be withdrawn at
the OF the year aid at the moment most incon
Ses aspated p ss By The folowns sues rms 'ac'
The average deposits OF the sixty Clearing
House banks for ten weeks from 9TH OF July
September $232 600
The lowest amount reached since the panic
was. l4SIU,0u
Showing total reduction of............. $aO5S 900
OF the above amount during the ten
weeks twelve interest paying
The lowest total reached by them
since the panic. bSHs,U0
Showing loss in twelve banks of......... 6Ssl6,oOo
apd In tbo othor ,oht hantso of an ~, AN,