{"newspaper_name": "The New York herald.", "edition": "01", "page": "p2", "byline": ""}
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ATTEMPT TO CREATE PANIc.-The two demo.
cratic prints here-the mere organs OF cliques-
have been endeavoring, for some time past, to Gre
ate panic, and to pave the way for revulsion or
failure of the country banks OF this State We al
lude to the movement recently made by the Globe
and NeWs, the petty organs of two democratic
cliques of this city. They have been urging upon
Governor Wright and the next Legislature, the ne
cesslty of establishing what is called an indepen-
dent treasury for the canal revenues Of the State of
New York-that is to say, to take away all the sur
plus canal revenues from the country banks, and
place them in vaults in the city OF New York, or in
Albany


Well, what would be the effect on the currency
OF this State, il this movement were carried into
effect According to the last returns, the amount
u circulation of the country banks was fifteen mil
hons OF dollars, TO say nothing Of deposites. To
meet this circulation, they have $500 900 in specie
The amount of surplus canal revenues denos;ted IN
the credit OF the country banks is equal TO two mil


lions. The removal, therefore, of the canal demo.
sites, would produce revuIsion that would break
down the country banks at once. They have no
means OF paying their deposites at once, and thew
would require long period of preparation and re-
stnction to enable them to do il. This would pro-
duce great revusion in the flour and other mar
kets as well as in the currency itself, and would be
the cause OF great commotion in the State of New
York, and in other States


This movement has been commenced in this ci-
", and we have doubt it originated in Wall
street Some say that George Newbould, Esq, the
eminent fnancier OF the Bank Of America, gives
advice TO the ocoioco leaders here; and Erastus
Corning OF Albany, the leader OF the locofos there,
IS the adviser Of the country banks.