The herald., 1837-04-04

Market 90 onward Win unabated
gloomy and Monday opened 90 thai stocks
fell what they had advanced the last week Delaware
Hudson tumbd three other fancy m
proportion The difficulty ofprccurg good paper as
| great as
The nancal of week appear to have ham a
o~ed sp and tho for continues as eve The
me sterling bonds of the United down n mar
ana al length per cent cost Der cert at
c udnk sodnter The Morris Canal bonds selling the street
al - per cent per month spite the of the Bank
" Amenca is also announced that the Manhattan Company
nens 70 Issue twenty-five bonds payable Of
Lnshau ior The amount Of thousand pounds sterling
Why are they not brought They woJ be as coed not bel
e securities to negotiate Londen than those Of tie United
nanA iae MARQUIS OF Caer ma tn: OF principal
stockholders well known across the water The osso ma
per 70 selling for 10 the dollar
namo OF more failures thick yesterday culary in
consequence OF he accounts from New Orleans Today the h
o. april WIN DC heavy day to make payments We anticipate
nuch dcuty to Get through Neyerh bruce M and bs
'heugh One can but supend-a smash or 20 down al the
"os y no docs So there foxes with their tails
| equally as short that viii lor K queer
Inc pressure now beginning hanics and work
he oasses hrgs malufactu establishment reported
IN aihcuty yesterday and wokmen were om
employment he cannot sustain its high rates
when flour and every thing falling around Flour has rceeed
already Is per centcetton the estate 20 TO & Wages
oflabor will also recede
The opening the North will fetch some money to market
and -four too-bu in The money pait cannot save
US from the consequences OF speculation.
The position OF affairs bad. The action of the eoyern
nentthe state Of paresthe misrepresentation OF the WaH
street all tend to hide the evils and prevent men from
preparing for the difficulties months the street prints
nave been preaching that prices hgk;h.t spel
uon did not exs-tha there o,eradng RI
dcuious specie circular only all the dG
ncuty These prints have eachcrous might say,
feonosy concealed the truth Engaged species
ana speculation themselves they up the public
regular a OF decepioIs order advance the prices
articles ana speculate on the rise The Wall press
part and parcel Of tie poca ugge that has
this at crisis Al this the all street and eunv
expndns large sapsscs ignorance in explaining the
Of the state of things attributes it 10 the banks
another General to the n,
| the Bank Of England.
We must unravel he and let little light upon
| the mysteries of trade and Petica economy.
Tho evils oth times much from an ran
of bank credits expansion Of individual credits There
not bank the country
sona debts The evil dispa between the bank
credits and the commercial credits SO sovency
Of the banks and stability Of cican. medium country
in sounde state II that individual banks may
have oveadedbut taken whole banking system of the
United Stats much than that England The agae
gate circulation including deposes only to one Of
the specie In 1895 the last the reaens pos,es and
circulation to specie were probably 20 At this Eng
| land it is stol
The bonkng system, fore never IN bec condition
yet some banks may break and breaking westtc
bank OF Monroe Michigan, for one
The difficulty amount Of com erc;o,
paper based transactions without reality and articles be
yona their value Wa expaa by the follow
| ing statement
Commercial paper, bills Of exchang &c and notes. COM
>. i"g TO maturity, s7oo,ooosco
Circulation 100000 $3.50 100000
Deficiency saos,ooo 900
This shows deficiency Of eco millions the capital and cre.t
Of The banks TO udaIe all the pape now oaat We
have omitted the 40 nons of specie in the banks as TINT
be retained Sustain the bank pape and also the a. millions o
ci cnaon as that must supply the daily ofhf This def
| eieacy is analysed as follows,
Pub c lands held by merchants speculation ssooosoe
Due TO kaslaad ard France ofnpsrs sOoSocS
fs aiDG. anS fxsans sa" rs SSsgs r. 'ssSsSs ssS 600
Suppression Of small notes, ss,coSSSs scSSSs
! sisooooo ooo
All these values affect the general Of great comm.r
cial machine They the pertubafions have caused All
the difficulties Of them may psua ,e !, L
synonymous with each other the public land4 and sups
the latter being aused by the sale othe orme,ut
ductins every such mixed nature we comr 10 The coacl
sion that he mercantile Interests hare one hundred mn,
lions az least Of their beyond neans 10 nm ar h.
pond the capacity ftae banks 10 aid Them through n Wan
therefore, have failures produce panic and m
length affect egitmaie and honest trade the whole cpnn;
must start and demand legislature OF the
state OF New York to nerpoe its those ought
to be saved fthsy do aney that both So
nate and Assembly would deserve be into the waves or
the Hudson would mad dogs or other animals
| that ought not 10 live
Yesterdays operations folowsDr Co.I,Aes
tin WImerdns Co had sale Of abcut cases French ro
and Me-ss Core Haydock Co sold packages foreign a.,
domestic dry goods Beth sales lr,, h
sold at low prices Private sales dull We may a
expect good business from tho north the river Is Omen
Sugar &c-ws have change TO notice either in Sugar No
asses Roeor Tobacco since our last No,hng Of
has bs done in any Of the above articles.
Flour remains without any change from Saturdays oo,o,;a
II unsteady No saes Of consequence have takan
place
Other operations the like manner very dali All
sale bags dana Hazel Nuts a. ~. % a, lo,
Havana segafs 2ii 2keg Raisins, at o.. cash Also ~
Brown Havana Sugar at cents 20 do sa 10 do do s \,
do white do ce nh 90 days.
Prses OF Stocks al The New York Exchange. Apiia
" = Bank lst, lis. Am Trust Co, Hat, 81
Mechanics Bank l2s Mutual ns. Co
| Bank Of America, liza Howard lnsC Co
| Del a Hut I5 Al, "a Mohawk X. r.. III. III, 7Ui
| Blk Stah of ~ y, l05s Haf. X. r.. s., e3i,
Atlantic Bank, ~ Boz. 4 Prov. X. r. s7t sy os
| N. q Canal Co. ~ ~ J. n. r.. Ca
N. o. Mech n Trad BIZ 50 Utica X. X. lis,
| q. Life n Trust Co. los Cantan Co, SO
J Illinois Bask S5 Bos 4 Wor r. n
Farmers Trust Co, st Long Island r. r., 5
| Prices of stocks Phladelpha, April 4
u. s. Bank, IIst, 1884 Kentucky Bk. 80
Farm. Mech. Bk. 81 vicksbuIg Bank, 81
SchuyikiIl Bk 5s Del * Had ~, 7fl, Tit.
Guara bank, SIS Union Lk. Tenn.
NEW March 2i-Anober day has gone br bu with
little ON reference to Benefits he
OF cation
the Bank If England The effect decline must
dsadvanageoLs market
operations the article Inv
Il IN that
We have yet fell the ul iorce acu,es Tbey
destined 70 ws-k eat change the ce unless
sopebe be done by The govenmet the prog
great decline this
will be severely felt IN real estate and