Year: 1873

terday nom Comptroller Knox. dated September
20, in which the latter gentleman cordially
york Loan ns afi Hs sse S s a
ns, that the plan had received the approval Of
President Grant ana and, Secretary Richardson az
thought that any action on the part of depositors
IN tfe way Of protesting, against their payment
protesting national bank notes, and greenbacks
were too plentiful to make the attempt o success.
Thus have we tided over great possible event.
claim to some sufferers, because an extended sur
vey Of the general situation makes US regard it
pass the worst is over. We have passed
through q trial that has simply purged
US Of some fungus accumulation, the accretlon
OF an undue speculative purpose, which losing
sight, in times OF excitement, OF substantial basis,
wandered into dangerous eventualltes The great
.ions was the the sudden Change rom nigh borrow
ing rate TO high carrying rate. This showed the
pressure for settlements first, while the hour for
The scarcity OF currency, notwithstanding the re-
el To-Day US s apparent IN these changes: he an ar;
soon determine this changefui condition.


THE SUBTREASURY.


The only thing OF any interest which transpired
at the Sub-Treasury during the day was the paying
on OF the clerks OF the Custom House and Post
once: Tne system OF paying these clerks at she
the Post ONCE respectively is carried out in very
simple way. Each clerk gets check for the
q his salary for the month signed





Post Once atasne as f0Sr%ss'ea Tns check
the Sub-Treasurer's clerks appointed to pay the
men OF, and each one OF the check bearers gets in
OF his salary. THESE envelopes, with amounts
ranging from $50 up to the highest monthly salary
paid any OF the employees OF the two establishments
IN question, are made out days in advance Of pay
day by subdivision OF the Sub-Treasury clerks;
and thus 1t will be that the paying of Is done
very rapidly, thanks to the simplicity OF the sys-
tenn adopted.


THE TRUST COMPANIES.


Affairs at the Union Trust Company, such as the
posting OF the accounts In the ledgers and examin-
Ing depositors' books preparatory to the promised
resumption OF business, went on in the usual hum
MIR. scheIl was on hand all day personally attend
ing 10 the work that was being carried on.


rhe Secretary OF the National Trust Company
stated to HERALD reporter IN the afternoon tnat
the company would make a statement in few
days, but on what exact day lie was unable as vet
to decide. ',At any raIe.n said he. .you can rest
assured OF one thing; we intend soon to resume
business and we are now actively at work to bring
the resumption about"


THE CLEARING HOUSE ASSOCIATION.


The Loan Committee OF the Clearing House AS.
soclation were In session as usual yesterday, but
the applications for certificates were so lew that 1t
was decided upon by the committee to sit here
after only one hour day. That looks as though
everything looks well. y said Mr. Camp, the man
ager when questioned as TO what the committee
intended to do In the future.


THE BANKS AND BANKERS.


The banks went on with their business as usual,
and nothing OF any moment transpired at any one
OF them TO create even ripple Of excitement
among depositors or others on the contrary, the
depositors deposited their money more freely
than on any day since the panic began, and the
bank officers say that legal tenders are coming In
IRON the country and that confidence seemed TO be
generally restored.


Mr.. william b. Duncan, OF the firm OF Duncan 4
Sherman VINO arrived from Europe yesterday,
was met at his once by a HERALD representative
during the afternoon. He declined to say any
thing about what his views were OF the situation.
He stated, however, that when he LETT Europe peo-
pie over there had simply Just heard OF the failure
OF Jay Cooke Co., and were rather
in fog as to what had brought
1t about. Neither he nor his fellow passengers
knew anything 0! the other failures and the terrible
excitement which had followed that in financial
circles until their arrival here. They were, he
stated, very much astounded when they did learn
OF all that had happened. AS to what he thought
Of The iuture, financially speaking, he remarked
that he saw nothing to be frightened about. Though
he had not been at home long enough to know inst
what the situation was at present he felt confident
that the outlook was not a bad one. "lndividuals
may 20 under" said ne laughingly "out don't
ehink a panic OF this kind or any other kind can
Kali a whole communit!."