The Sun.
London, England, 1837-10-14 00:00:00

MONEY MARKET.

A private letter from New York states that the cashier
of the United States Bank has resigned his office, and that
he is about to proceed to London to reside permanently as
the head of an agency for conducting the exchange opera-
tions between the two countries. This is supposed to be
intended as a counterpart to the agency recently sent out
to New York by the Bank of England, and hence the con-
clusion that the two establishments are to act in concert,
and graft this kind of business, which is essentially of a
mercantile character, upon their usual banking transactions.
The proceeding is not likely to be agreeable to our mer-
chants, from whom it will take a very lucrative branch of
their engagements.
Now that various measures are before Congress, which,

if passed, are likely, whether viewed in the aggregate or
separately, to exercise a powerful influence over the
circulation in future, if not entirely to revolu-
tionize it, the present position of the banking inte-
rests, which will be more immediately affected, becomes
a matter of curiosity. As the different States of the
union had not all made provision, like that of New
York, on the suspension of specie payments, by which it
was rendered obligatory on the banks to publish the situa-
tion of their affairs periodically, under the inspection of
Commissioners named for the purpose, it is therefore out
of the question to procure a whole view of the case.
The Bank Commissioners for New York had, however,
made up and published the returns of all the city banks
and the banks of the State up to the Ist of September, ex-
cept the Manhattan, the Dry Dock, and the Delaware and
Hudson. The Sackett's Harbour Bank and the Longport
Bank being, as stated, defunct now, are not included in the
present returns at either of the dstes mentioned. The
statement is given in an abridged form for 95 banks of the
city and State, and it may serve, probably, as an approxi-
mate indication of the present situation of the whale bank-
ing interest of the Union.
1837. Dollars.
Jan. 1. Discounts and Low s
Sept. 1. Do, do.
Jan. 1. Specie
Sept. 1. Do.
Jan. 1. Notes of other Bai ks
Sept. 1. Do. do.
Jan. 1. Circula:icn
Sept. 1. Do.
Jan. 1. Due United States Treasurer
Sept. I. Do. do. 728,571
Jan. I. Individual Deposits 16,8.54,684
Sept. 1. Do. do.
Jan. 1. Profits
Sept. 1. Do.
The circumstances which are most calculated to fix at-
tention on this document are the increase of profits and
the extraordinary reduction of the debt to the General Go-
vernment. Notwithstanding a decrease in the loan and
discount business to the extent of 8,000,000 dollars, and
of paper circulation of 9,000,000 dollars, as well as of depo-
sits 01 nearly 2,000,000 dollars, which are the great sources
of banking gains, the profits divisible among the proprietors
had advanced in eight months nearly one-seventh in amount,

or not far short of 14 per cent. increase on September 1
over January 1. It has been hinted on a former occasion,
that this accumulation of profit, in the face of a considerlble

decline in the amount of regular business transactions, could
only be accounted for by the fact that the banks had been
trading with the specie which they held in depo,it, end
thus realising the enormous rat s of premium at which
it was saleable in the Money M trket, against their own
or the notes of other banks with which their own %vete
exchangeable at par. Against this supposition it is Lir
to state, however, that such a case is hardly recon-
cilal le with the immense reduction effected in the debt
due to the Government ; nor without more full returns,
showing the amount of available securities held by the
Banks at the commencement of the year, and how these
have been disposed of, as well as the past and existine
state of their capital stock, can any satisfactory solu-
tion of the matter be arrived at. Alt that can 'a e said
is, that the increase of piolits is a most remarkable fact,
taken in conjunction with money embarrassments and mer-
cantile insolvency upon a scale such as the world never
witnessed before.
In this arrival of papers from New York there appear
some particulars of proceedings of Banks in various parts
of the union, meant to pave the way for a resumption of
cash payments, without ,citing for the intervention of
Congress. The lead was taken in theta by the New York
Banks, and among the means suggested for the proposed
end was a general convocation of Banks, to meet early in
Oetob2r, in the city of New York ; but the Phidadelphia
Banks, on receiving a proposition to that effect, unanimously
declined it. The reasons assigned by them for so doing
form a curious instance of special pleading ; the real
ground of refuse', though dexterously covered, being ap-
parent through all, that the measure proposed did not
suit them, and that they wished, at all events, to gain
time.— hates.

THE MARKETS.-(THIS DAY.)

COVENT GAP.

I nere wa, a moderate supply tk
was steady at the following prices

6. tl. to
Potatoes (cwt.) 3 0 5 0
Ct ba.,,es White (12) 0 8 1 2
Ditto Red 3 0 4 6
11 Arse itadish(blind;c) I 6 3 0
Celery
Endive 1 6 2 0

Carrots:J2buiiclies) 3 0 5 0
Turnips 2 0 3 0
Onions 1 0 2 0
Colewortsor Greens 2 0 2 6
Spinach (half-si,re) 0 4 0 6
Broad Beans 1 0 1 6
Apples 1 6 :3 0
Pears
French Beans
Green Pease 3 0 3 6
Onions (tor pickling) 2 6 3 6
Cucumbers
Common Plums '2 0 '2 6
Orleans Plums
Green Gages 3 0 4 6

dAY MARKETS.—(A.
CUMIIEI-- --.—.
4:03(11C heavy Lowland Meadow Hay.,.... ........... ~.—.. ..... .24 18 t. 14 15
New Meadow Hay 6 0 0 0
Weful Old Ditto
Fine Upland Meadow and Rye-graes Hay
Clover 1-lay
Oat Straw £1 18 to £2 0 1 Wheat Straw 2 0 2 2
SMITHFIELD. _

.t por Load of 36 TruPos.)
RI 'IND.

--....-
Coar.e heavy Lowland Meadow Hay — £4 5 ',, £4 10
vow Meadow flay ... 0 0 0 0
Useful Old Ditto 4 lu 4 15
F:ne Upland Meadow and Rye grass flay
Claver flay (extra fine ........€6 0 Generally
Oat Straw ... ...... .Z 10 tr. .£3 0 I Wheat Straw " 0 2 2

WHIITCH A PEL.

Coarse Meadow Hay .
...£4 0 to 1:4 5
New Meadow Hay
Usetltl Old Ditto
Fine Upland Meadow and nye. grass Hay
Clover tiay 5 5 6 5
Old Straw , £1 16 to .£2 01 Wheat Straw .......... 2 0 `.l 2