The Sun.
London, England, 1837-11-04 00:00:00

AMERICAN PAPERS.

By the arrival of the packet-ship George Washing-
ton at Liverpool on Tuesday, we have received New
York Papers from the Ist to the 9th ult. inclusive.
Their contents are of 'very little importance. The
financial affairs of the States were gradually improving.
From the South the accounts received respecting the
cotton crops were very favourable, and in Wall-street
the merchants had begun to boast of having got out of
their worst difficulties. Trade had greatly increased
both in the Northern and Southern States. The fol-
lowing abstract of the sayings and doings in Congress
from the 2d to the Bth ult. is abridged from the Wash-
ington Correspondence of the New York Gazette. We
have so condensed it as to render an analysis of the
business to which it refers altogether superfluous
WASHINGTON, OCT. 9.—Mr. Wm. Cost Johnson at-
tempted to introduce a resolution directing that the Bill
authorising the issue of Treasury notes, sent from the Se-
nate to this House, be returned to that body on the ground
that it was an infringement on the rights of the House for the
Senate to originate a Revenue Bill ; but leave was refused.
" OCT. 2.—Since the express closed, the House agreed,
by a vote of 115 to 103, to the amendment of Mr. Haynes,
fixing the 16th of October, instead of the 9th, as the day
fur the termination of the present Session ; and the resolu-
tion, as amended; was agreed to ; yeas, 152 ; nays, 65.
The Senate concurred in the amendment, without much
hesitation. So Congress has but a short fortnight more.
" The Treasury Note Bill is important, and I trust it
will pass, provided the notes shall be so issued as to an-
swer as a currency.
" The Bill to postpone duty bonds, the Bill to remit the
duties on goods destroyed by fire in New York, and the
Bill to adjust the claims on the late deposit banks, all ought
to be passed before the adjournment.
" The inquiry into the conduct of the Florida war is un-
fortunately laid aside.
" OCTOBER 3.—Mr. Calhoun made his principal argu-
ment to-day in support of his sub-treasury plan. It was
his closing speech in reply to the objections offered to his
proposition. Though purporting to be a reply to the ob-
jections made to his scheme, it yet avoided and evaded all
tilos, arguments. Mr. Webster expressed his astonishment
at fijMiling the Senator, after his long experience in matters
of finance—an experience extending through more than
twenty years—where lie now was, an advocate for old con-
tinewtal money, of Government bills of credit, not bearing
interest, as currency ; for Mr. Calhoun, in his remarks,
supported this as the only species of paper currency that
the Government had a right to legalise.
" OCTOBER 4.—ln the Senate to-day the Bill relating
to the fees on the renewal of Custom-house bonds was dis-
cussed.
" The Sub-Treasury Bill is under consideration—the
question being on its passage. In the form in which it
will pass the Senate, it is Mr. Calhoun's Bill, and dissolves
the connection with the State Banks gradually. In the
first year, three-fourths of the public dues may be paid in
notes of specie paying banks ; in the next, year one
half, then one-fourth ; after the fourth year the separation
is to be complete. This mode of effecting the divorce is
held up as a decided benefit to the banks—enabling them
to get on their legs again before they are to be discredited
by the Government ; and Mr. Calhoun says, that by this
time some new and improved plan of currency and ex-
changes will have been established by the local banks.
THURSDAY, OcrozEc the pause of Representa-
tives to-day the resolution declaring that it is inexpedient
to charter a national bank passed the House, by a vote
of 122 to 91. The principal argument was that the
abominable bank of the United States in Pennsylvania
had ton much credit already, and would ruin the Arne-
lean Commerce and Government also, by establishing
agencies in England.
" The Treasury Note Bill was reported to the House
last night, and will pass to-day.
" The Senate, at a very early hour, having nothing to
do, adjourned t'll Monday.
" OCT. 6.—The Senate has a holiday to-day. The
House will have a long and arduous; sitting. The Treasury
Note Bill has not been dispoled of, though it was under
consideration till eight o'clock last night. The division
may be reache I to-night. There i.m no doubt of its passage
without essential amendment. The rate is to be at not
more than six per cent. Some say that the Secretary will
fix upon five per cent. as the rate. He may have been
advised to take that rate by those banks with whom he
ha. corresponded—but it is questiened here whether they
will comman3 specie et that rate.
fame Florida war reso'ution was taken up again to-day,
aal though a long debate took plaice, in which Messrs.
Wise, Loomis, Howard, Gli.e.cock, and Adams t ok part,
no division was Lad upon it, and I doubt whether there
w:11 be any. Every attempt to get any inquiry into abuses
connected with our Indian relations, has signally failed.
" The House has taken up the Treasury Nute Bill, and
Mr. Bond is speaking against it.
" OCT. 7.—My letter of yesterday left the House deeply
eagaged in the discussion of the Treasury N.,te Bill. The
amendment of Mr. Underwood, substituting for an issue of
Treasury notes a sale of the bonds due to the Government
by the Bank of the United States, amounting to six and a
half millions for the use of the Treasury, was negatived by
the close vote of 104 to 11.3.
"In the House to-day, a resoluticn was adopted calling
for information from the President in relation to the occu-
pation of Colombia river by a foreign power.
" The Treasury Note Bill having been taken up, Mr.
Bell moved to strike out the enacting clause of the Bill,
and is making a strong speech in support of the motion.
His opinion is that this Bill is the first step towards the
establishment of a Treasury Bank, which will to all intents
and objects be the same thing with a bank founded on
the credit and revenues of the Government. Every friend
to a pure republican and an economical government would,
he said, go against this measure. If this Treasury Bank
was established, and the President set up supplying the
emergencies of time Treasury, in time of peace, by the issue
of bills of credit of Government paper of any kind, it
would be carried to as extent that would soon lead to a
prostration of our Government in the present form.

" THE JOSEPHS' ESTATE.

" By request of Messrs. Josephs, a meeting of creditors
took place at the counting-room on the 28th ult., when re-
solutions were passed, recommending that those gentlemen
be legally empowered, under inspectors, to settle the busi-
ness of the concern.
" The following is a copy of the statement exhibited, which
shows, it will be seen a balance in their favou-r of 539,983
dollars 17c.
" Messrs. J. L. and S. Josephs and Co. having submitted
a eear and distinct statement of their affairs up to the present
time, by which the nature and extent of their indebtedness
and assets are fully set forth and explained, and which is
authenticated by their books, open for the inspection of this
meeting, it is deemed expedient that the following summary
statement of their affairs should be made known for the sa-
tisfaction and information of all their creditors, viz.:—
‘. INDEBTEDNESS. Dollars.
" Open accounts due to European houses... 164,657 98
Open accounts due to various firms and indi-
.

viduals
Outstanding claims against us for stocks
Outstanding bills payable to various firms,
individuals, &c
Outstanding bills payable to banks in this
city and other places

730,790 27
217,200 00

3,525,470 94

1,868,748 98

Surplus assets

6,506,868 17
539,983 17

7,046,851 34

ASSETS.

St)cks in the banks in this city and other
places
Notes and bills in the banks of this city and
other places ..•
Notes and bills in the hands of Samuel Her-
man and Sons, New Orleans
Notes and bills in the hands of Briggs, La-

1,045,772 47

106,425 26

ooste, and Co., Natchez
Notes and bills in the hands of Moses
Harris, of Mobile
Notes and bills in the hands of J. C. Levy,
Charleston...
Notes and bills in the hands of J. H. Eus-
tace, Richmond
Assets in real estate
Assets in bovld and mortgages
Assets in various stocks in hands of indivi-
duals, &c.
Open accounts duo from various firms, indivi-
duals, &c...
Open accounts due from New Orleans houses 2,920,711 65
Bills receivable on hand,,,,,,,,,,,,,,,,,,,,,,,,,,, 20,9-19 70
Cash on hand.,,..... 17,906 27

101,769 68

25,935 40

99,492 94

14,700 98
309,627 26
40,000 00

418,873 45

7,046,851 34 "
Extract from the Journal cf Co»zni
e
" MONEY AND EXCHANGES. Therrels plenty of money,
ivii:n t it, and
exportrr of
but chiefly in the hands of those who do not
e
difficult to be obtained by those who do.
specie to Europe is much reduced, and a moderate cu
is setting back across the Atlantic. Most of the packets('
now bring more or less, to be used in buying cotton and
other produce, and are induced, not by the rate of ex-
change, but by the uncertainty about getting orders exe-
cuted, which rest on any odier basis. The rates of ex-
change for the packets to sail to-day are more arinst us.
~4414.4.,L00d many bills on London were sold on Saturday at
"Th.luPliCorpisgemium, and some at I tirf. Some were sold
gh very good in ordinary times, and really
d not names which removed all doubt.
te was 4f. 90c. to 95c. per dollar. The
to-day have on board but a very mode-

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