The Sun.
London, England, 1839-02-04 00:00:00

MONEY MARKET.-JAN. 15.

The recent heavy importation of foreign goods led to the
anticipation of a large business in sterling bills for the steam-
boat Royal William, which departs to-morrow for Liverpool.
The transactions have, however, been less than for any picket
within the scope of our recollection, being scarce 10 per cent.
of the usual amount. This is attributable to the state of the

Money Market, whsch, so far from being easier, presents daily
new difficulties in the way of those dependent upon bank faci-
' •
lities The rate of exchange has been firm at 91,- a 94. The
present state of the market may, in a great measure, be
ascribed to the peculiar condition of the great staple, in con-
nection with the progressing resumption of the southern states,
causing an unusual demand on the north for money. The for-
mation of banks with large cash capitals, is also another means
of diverting capital from the regular course of trade. A spe-
culative mania, whether it takes the direction of real estate,
articles of merchandize, banks, or any other object requiring
large sums of money, always has the effect of cramping the
business of regular dealers for the time.
There are now forming in this city different banks under the
new law professedly, with cash capitals to the amount of 15 to
20,000,000 dollars. The withdrawal of this sum, or a pro-
portion ofit, from business, particularly at this season, must se-
riously affect the market, until these banks having completed
their arrangements, sSall commence operations, and give those
facilities to merchants for the dispensing of which they are
created.

The mania of bank speculations extending itself throughout
the Union with seemingly increasing heat. Michigan and
Georgia have already laws similar to that of this state. The
Legislatures of Alabama and Virginia have similar laws under
discussion, with every prospect of passing them, and movements
are making with the same view in other states. The operation
of the law, during the creation of these institutions, will have
an effect on local markets similar to that of resumption, by
absorbing money prior to commencing discounts. Of all the
institutions which have been proposed in the city of New York,
but one or two will probably be of any real utility. The effect
on the money market of the city will, however, for the present,
be the same. We may therefore, look forward to a continued
security for some weeks, perhaps months. In the mean time,
regular dealers must suffer severely.
Bicknell's Philadelphia Reporter remarks there is not much
change in the money market of that city ; there was yesterday,
however, a temporary buoyancy in the market.
The Philadelphia banks now refuse to receive on deposits
the notes of the Berks County Bank at Reading, Pa. They
are purchased by the Philadelphia brokers at a discount of 1 a
1i per cent.
The Ohio Life Insurance and Trust Company have declared
a dividend of 41 per cent., payable on the 25th inst.
The Greenwich Savings' Bank, the usual semi-annual divi-
dend, payable on the 16th inst.

There are five-dollar notes of the National Bank of this city
in circulation, of the following deicriptioti.:=
" No. 5,266. letter D, dated May 16, 1837, payable to S.
Grosvenor. En,raving very coarsley done. Signatures en-
graved and inked over. Paper of a reddish cast. The filling
up appears to be all in one hand-writing. They are so un-
like the true notes, that they are calculated to deceive none but
very poor judges."
Sales at the Stock Exchange to-day have closed very heavy,
the amount of transactions were small and at a general falling
off in prices. U. S. Bank receded I ; `Mechanics' Banking
Association; per cent. ; Delaware and Hudson per cent. ;
Mohawk per cent. ; Stonington per cent. ; Dry Dock
Bank on the contrary improved -1 per cent.
The Lafayette Bank of Cincinnati has declared a semi-an-
nual dividend of four per cent., payable at the Bank of Ame-
rica in this city on the 25th inst.

PARAGRAPHS FOR THE ENGLISH PAPERS.
(From the New York Morning Herald of the 16th ult.)
The Royal William left the pier at the foot of Pike. street
between eleven and twelve o'clock this morning, carrying out
28 passengers; bat no freight. She passed down the Bay in
fine style, and was seen to go out of sight in safctu.—[N. B.
If she should sink this paragraph will not get to England to
be copied:]_ _ _ _

Se;eral 'Government officers and U. S. Marshals were sta-
tioned at the dock to see that no sub-Treasurers ran away in
the Royal Wil!iani. They were supplied with blank war-
rants. Mr. Van 13uren was not ready to go in this vessel.
The Royal William reached the dock at New York in 22
days from the hour of leaving Liverpool. The Wellington and
United States arrived the night before her.
The Garrick reached New York just ninety hours after
the Royal William ; and the Poland, from Havre, ninety-
two hours after her. They all three left European ports
Dec. 15th.

The last departure of a steam-ship from New York formed
an era in the history of Locofocoism. Mr. Van Buren's re-
presentative in this city ( Mr. Price), ran away in her, and
carried some of Uncle Sam's money ; the amount is variously
stated at from 100,000 dollars to 1,000,000. His friend and
fellow runaway, Mr. Swartwout, had 2 1-2 millions dollars
of the same trusting old gentleman's money.
Within the last two weeks goods have arrived in this coun-
try from Europe, to the value of 25 millions of dollars.
The rage for new banks under the Free Banking Law is
is spreading rapidly over the country. New banks, with ca-
pitals of from five to fifty millions, are springing up like
mushrooms.

Money is anything but easy in this City, and United States
Stocks fell on 'Change yesterday 1 per cent.
The corn crops over the country have yielded an increase of
one-third over last year. More than a quarter of a -million of
dillars have been paid by different State Governments for
bounties on wheat.

The silk mania is running through the States like wildfire.
In short in every State in the Union the niorus multicaulis has
been planted, companies formed, factories erected, and silk
for sewing and westing brought to market, equal to any thing
seen in England.
The
lheasst year.ugarcrop, it now ascertained, will yield an increase
over
The Locofoco Governor of Pennsylvania was sworn in yes-
terday. Burrowes, the secretary under the ex-Governor, and
his friend Stevens, of course are kicked out. Here is a de-
scription of their exit from public life:—
famOonusTreuteusrdnaey; ojfan retulsrn, sallb2u
ror
o'clock,pTp. l t
i.e
aßi
luyr
fr
eo
ry
tehs
e,
rest
of his life. "He went up like a rocket, and comes down like
a stick." This will be his epitaph.
At noon, on the 15th of this month, Thaddeus Stevens dis.
mounted from his donkey, and took the world on foot. llc
has broken his bridle, and worn his spurs to the socket in his
three year's ride.
The administration party bad a majority in both houses this
Congress, and will probably have in the next.
There is a prevalent report in Washington •that Mr. Van
Buren means to marry Miss America Vespucci (now in Wash-
ington, descendant of Americus Vespucius, by virtue of whose
discoveries she lays claim to the whole of this country. IF
Martin marries her, he and his heirs can reign till the resur-
rection morning ; that is, if the stock holds out.
The weather has been playing us strange freaks of late.
The morning the Royal William arrived, the thermometer was
down to zero. One week afterwards, the mercury rose to 90
in the sun, 65 in the shade. Yesterday morning it was again
so cold that the wind came very near freezing.
The English merchants are sending orders to America for
our manufactures. Norris, cf Philadelphia, has received or-
ders for some half-a-dozen loco-motives ; and Ward, cutler,
of 134, Fulton-street, New York, has received orders for
several dozen tailors' and bankers' shears, in the manufacture
of which articles we far surpass the English.
Combe, the phrenologist, is now in Philadelphia. He has
delivered lectures in Boston and New York to crowded and
fashionable audiences, and is doing the same in the Quaker
city. He has made some money—many friends—seen three
of our principal cities—is in good health, excellent spirits—ad-
mires our women—dislikes our wines, and means to remain
here a twelvemonth.
IThe literary world is looking up. Several new periodicals
have been started recently—several more are about to begin
business. Willis edits one, and calls it the Corsair, because
he intends to pirate promiscuously upon European literature.
The English Annuals sold remarkably well this year, al-
though they were very expensive end many in number. There
is none of Finden's Tableaux. left-20 dollars was given for a
copy ; the Diadem sold well at 16 dollars.
These indefatigable and enterprising publishers, the Har-
pers are doing a large but safe business. They have published
many valuable works this winter, and are now busy completing