The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1840-06-19 00:00:00

THE UNITED" STATES.

The following appeared it the second edition of the
LIVERPOOL STANDARD of Tuesday last
• The New York packet-ship Sheridan arrived here
this forenoon at ten o'clock. She sailed on the 25th
'and brings papers of that date. We have
been politely favoured by Captain de Peyster with se-
veral New York journals of the latest dates. We sub-
join the state of the money market on the 24th ultimo:
There had been a dreadful tornado at Natchez, the
particulars of which will be found below.
A great storm had also been experienced in Illinois
in the beginning of last month. It did very great da-
mage to the farms, on which much valuable stock had
been killed by the falling of timber. The rivers had
also risen to a great height, and done much damage.
The British Queen. steam-ship, arrived at New York
on the 15th of May, in 13 days and 11 hours.
There is no political news of importance, either from
the United States or Canada.

The Sheridan and the Columbus, New York packet-
ships, the Monongahela packet from Philadelphia, the
ship Talleyrand, and several others from the southern
states, arrived this day with the same tide.
The Columbus has brought 50,000 dollars on freight.
MONEY MARKET.

SUNDAY, MAY 21-6 P.M.—The accounts from China
which reach us to-day, are of a more favourable nature.
There is some disposition on the part of the Chinese to com-
promise. _ _ .

Yesterday but a small business was done ; nothing occur-
red to relieve the markets of their gloomy features. Capi-
talists are waiting with anxiety the result of the proceedings
at Harrisburg, and not without uneasiness at the probable
passage of the Sub-Treasury Bill. This has long been a bug
bear in the money market ; and the anticipation of its action
has caused more real mischief than its actual operation will
do. Trade is trammeled by the impossibility of getting
money from the country, west or south. Our banks will
touch no southern paper, and therefore the merchants are
very cautious of selling. Many of our dry goods houses have
actually received consignments of flour from the west, as a
means of payment. This approaches very nearly a barter
trade. Instead of the sound banks depreciating their cur-
rency to a par with the broken banks of the south, the south
must keep their currency on a par with New -York, if they
wish to keep their credit good at the centre of trade. The
sales at the Stock Exchange were small; U.S. Bank declined
- per cent. ; Harlem 1 per cent. ; Stonington :1 per cent. ;
Farmers Trust - per cent.
Nothing has yet been done in the Pennsylvania legislature
towards redeeming the honour of the state. An evident
anxiety for the situation of affairs is fast increasing iu
Philadelphia. The former advocates of the suicidal course
of the state, in legalizing suspension in order to borrow
money, that the question of taxation may be postponed, are
becoming alarmed at the result of the measure. The abso-
lute ruin which is so nearly before the state, has caused a
graat alteration in the tone even of the bank organs. If the
credit of the state is lost, the expanded banks lose almost
their last chance of recovery, and they are becoming anxious
that some regular means of meeting the interest should be
authorised by the state, in order to restore confidence in her
stock both at home and abroad. A New Orleans paper, in
allusion to recent remarks of ours on the currency of that
city, has the following :
Mr. Bennett says, "that the depreciation of the southern
currency goes on increasing, which is a consequence of the
expansion of those banks under the irredeemable policy."
This is news to us here. Has there been any expansion in
this city ? We ask the thousand industrious merchants, who
are now in court, if there has been any such thing ? No, no.
The screw has been forced down and not upwards.
These remarks show a great want of acquaintance with the
movements of the New Orleans banks and trade. New
Orleans is the great centre of southern trade, and is the chief
market for cotton. The movements of her banks, therefore,
have great influence on every other point. Since the sus-
pension, the banks have published their returns monthly. A
careful observance of the figures thus put forth, connected
with the trade of New Orleans, led to the assertion that they
were expanding. The following are the data :

STATEMENT OF THE BANKS OF NEW ORLEANS, MONTHLY,

FROM OCT. 21, 1839, TO MAY 4, 1840.
Loans. Specie. Circulation. Deposits.
Oct. 21, 1839.. 49,138,700 2,847,497 4,341,533 4,928,006
Nov. 2, ~ 48,860,912 2,768,114 5,223,136 5,182,904
Dec. 2, „ 49,861,143 2,504,325 5,526,785 6,118,651
Jan. 6, 1840.. 52,027,697 2,525,969 5,804,130 6,048,218
Feb. 3, „ 52,597,402 2,900,375 6,683,013 6,186,526
March 2, „ ..52,623,659 3,154,351 6,931,224 6,525,866
May 4, „ ..50,730,457 3,575,238 7,112,793 7,221,554
This table, which we have compiled from the regular
monthly publication of the returns of the banks, shows a
steady increase in the currency of New Orleans, or the cir-
culation and deposits of the banks, from October up to the
present time. At the same time the specie in the hands of
the banks has steadily increased. The following is a table of
the currency or circulation and deposite and its increase each
mouth, with the premium on specie in each month :
Currency. Increase. Prem. on Spe.
Oct. 21, 1839.... 9,273,539
Nov. 2, „ 10,416,040 1,142,501 8@ 9 per ct.
Dec. 2, „ 11,645,436 1,229,396 7(f 8 ~
Jan. 6, 1840 .... 11,852,348 206,912 20 3

Feb. 3, „ .... 12,869,570 1,017,122 4 ii) 5 ~
Mar. 2, „ .... 13,457,090 587,520 3 4 t,
May 4, „ .... 14,334,347 877,257 5 u) 6 „

Total increase of currency.. 5,060,708 dollars.

A large proportion of the increase of specie in the banks
came from Mexico. On the 13th inst. 88,746 dolls. arrived
from Tampico. Here we have not speculation, but figures
sworn to by the bank officers, which show an increase of 50
per cent. in the currency of New Orleans since the suspen-
sion of the banks.

Immediately after the suspension, and during the panic
incident upon that measure, specie rose to 8 a 9 per cent.
prem., and then gradually fell to 3 a 4 per cent. about the
Ist March.

This was the natural result of the great shipment of crops.
The banks in New Orleans previous to the Ist of January,
1839, were preparing to resume. The contraction incident
upon that measure was healthy, and the movements of pro-
duce brought the balance in their favour in February and
March. This encouraged purchases at the north ; at this
season the premium was nominal, although a good southern
business was done at the north ; what different views dd the
rates for the year present, althouth the exports from New
Orleans have been about the same in value this year as last.
In this we find that the quantities exported have been much
superior to those of last year, while the value has been much
the . same. The increased quantities have augmented the
freight 100 per cent. over last year. The following is a table
of the receipts of produce :
RECEIPTS OF PRODUCE AT NEW ORLEANS, OCTOBER,
1839, TO MAY, 1840, AS COMPARED WITH THE SAME
PERIOD LAST YEAR.

1840. Value in doll. 1339. Val. in dols.
Cotton bales .. 850,565 29,000,000 518,104 22,700,000
Flour, bbls. .. 354,088 1,416,352 301,865 2,113,055
Bacon, 1b5..... 611,573 48,925 1,070,000 107,000
Lard, kegs.... 143,040 972,800 171,221 1,369,768
Lard, pigs .... 171,182 427,955 141,485 495,195
Pork, lbs. ... . 3,630,326 254,122 6,450,476 580,542
Tobacco, hhds. 26,190 785,700 16,522 826,100
Other articles.. - 200,000 - 250,000

Total value 33,105,854 28,435,660
We have advices from Tampico to the Ist instant. Com-
merce was dull. The arrival of a conducta with about
1,200,000 dollars in specie, had created some stir in the port.
Only 80,000 dollars of this money was sent to the United
States—the residue is shipped for England. The arrival of
another conducta was hourly expected, bringing specie, a
part of which was destined for this country. The British
brig of war Serpent was to leave immediately for Jamaica,
with 400,000 dollars in specie. An English packet left the
day previous for Havana, with 700,000 dollars in specie.