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Sign up freeThe Hillsborough Recorder
Hillsboro, Orange County, North Carolina
What is this article about?
New York newspapers report severe financial difficulties affecting the community, exacerbated by country bank failures and distrust. Causes include legislative tampering with bank charters, US Bank's debt preparations, last year's short crops, and global pecuniary embarrassment.
Merged-components note: Sequential reading order and continuation on money affairs and causes of financial pressure; same focused commercial topic.
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The New-York American contains an editorial article, on the same subject, in which the pressure for money that is now felt not only in the city of N. York, but throughout the state, and along the sea-board generally, is attributed to four principal causes—"the ignorant tampering of the legislature with the bank charters, and the absurd law which they finally passed, divesting each bank of its separate responsibility for its own acts, and consolidating the responsibilities and the risks of all in one common mass—where honesty and roguery, ignorance and skill, poverty and wealth, are reduced to the same dead level"; the preparation which the United States Bank is making to enable the treasury to pay off six millions of debt next month; the short crops of last year—and "the state of pecuniary embarrassment in which the world is generally."
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Commercial Details
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New York
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