Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-25

This indicates precisely the Of commercial affairs d-
ring the last week. Whether this tendency will be permanent
probably this week. or the next will fully determine All the
elements OF politics and finance action igno
rance vulgar error and folly, exist country mixed
however, with good aud sagacty.
The two leading powers the progress of commerce for
tie next few years. the Administration and u s Bank
The State Banks, being small capital generally smaller
IN brains and Intelligence, range themselves or the
Other The great struggle this moment is for the vantage
ground ia the financial operations Of the five or ten
years. which many consider beginning in the present FAM
with the action of Congress that Of the United States
Bank.
We have already alluded the Treasury circular
probable effect OF that OF
banks. The following is an copy
TREAsUsY DEpARTMESr, September lal. iss7.
dent OF the United States the Treasury Notes
ceedng in the whole issued tie SUM OF twelve
millions OF dollars and of denominations not less tan one
treasury Of the GATED States % IL the espnea az an ne
Ill thank you state t I n' dc e passage o
tbs bn you 'n agree to tae The Sid notes from The
aesnt to DC drayn for be and poseb spe
s%d ; ss t. ., s. 3. .sa s s, '
Tam, seTy respectfully, your otedisnf serrant,
WILL thus, be that gnes yesterday the Jour
nal Of Commerce had msepresened this Circular turns out
to be accurate guess. The Secretary indeed nqures
what the banks individuals weud negotiate his ex-
peeed issue Of drafts and expresses himself very properly
to unite with the government and specie
the terms of the inquiry would enhance their paper
would then be redeemable paper There be doubt
that this the view OF the Secretary His language could
be otherwise than it Under the laws the consultation
he had no authority TO ask of the banks what will
me in shinplaers for dras He very pr,ps ly asks
what will you give me in specie if requireds'-meap
ing by this their paper IL they will be enough to
resume.
Some of the Baltimore papers-parcuIary the
denOunces 4 is
TO observe how political fanacsm will take heads
the little brains they possess and put ia the place folly
and madness.
great undoubtedly making by the u s. Bank and
and is affiliated banks defeat negotiation OF the Sec
rotary, merely for political obecta object being to de-
feat the bill now pending in tue House Representatives
and thus possible, lay the foundation for resumption OF
the United States Bank the fiscal the
This the whole meaning and intent of opposition to
the Secretary's negotiation
We disposed however, believe that private capitalists
End banks in Boston will take whole Of Sl.0oo0oO-
Afnancer Of great capacity from Boston given hi. as bis
opinion The Boston banks, tits well known thu prompt
and regular statements the solvent attain
ed tie greatest credit this country They resume pay
mcns tomorrow. II highly probable, therefore that they
may enter into negotiation for the whole ISSUE paid in
their notes, which be specie paying notes in
momcs under the understanding that these
pended stated times in the south and the west On TIE
back othis, the whole issue odafs will be the NJ
fereign exchange market and sold provide meet
tner gradually back the
BY this operation Boston hank paper would to cetais
amount take the place of the exchanges and a of
the daily currency in the souiherH middle states W. have
no doubt The operation could be very beneficial for the
government, as well for Boston
In the mean time, the projected OF the United
States Bank definite shape We lave al
ready stated OF the plan make fresh OF nm
new bonds correct TO the letter This issue is 20 become
the bnss OF new movement OF the Bank In England In zpo
Their part of our paper, correspondent
plains the whole pan Mr. Jausoa soon for London, q,
organise the Bank In London this new issue of
bonds forming his capital He to take tie place of
Mesrs. Virgins, Wilde and wilson, who recent, broke 4,
and be will also be the rivals essrs rnr, Nor
rson and Cryder Lilsrd and Of the Browns II Is
that Soo0eSOO IN British gold this country annually
by emgrants. The bank agency viii intercept This
stream, buy up in London and Liverpool give the own.
es crafts on New York and Philadelphia aaorn,s ad
vsnced in gold IN England II also the purpose of Mr. Bid
die whose son to be with ar Jauon 10 control the
whole foreign trade Of the United States in Euruse
The idea is magnificent, and like magnace nee i,
intellect, design, and execution hall Inclined TO feet
quite cordial and to wish him success Damn tine conse
quences," asJack OiIaggery would say
Taking all these facts, reasoniogs snd gmpses in bunch
there every appearance Of resuscson trade and crrsu
cy. So-go 10 breakfast
sales at the Sfoe II Exch.ug.