The herald., 1837-04-21
M ON BY MA n x r r.


Yesterdav tks money market opened heavily than
The made by hs Washington Glsbc 81 Wednesday
that another wesd ake place
periodical payen surplus revenns TO the s'ates appsaa
struck new mind The government has
the esns exactly the operation Of the laws OF Con-
gess upon the trade and when the commercial community
orgaH making they begin feel and dread
them
Phe Globe however has tsd The ideas
which the forth have been already placed before
the public through the columns Of the Herald Months fast we
pointed out and enumerated the of the present pressure
and the probable continuance Of the terrible revo
These thoush covered up and td to be hidden
from the public by the specializing prints OF Wall street,
for Hs tasts Of purposes, forcing themselves
their notice The Importance attached to the specie CIR
QUAR- the supeflave y and charatansm that ever
Characterised mind The ssece circular has done eooat
has prevented certain portion OF the banks ef the coaHy
from than they have DONE Ihe ony
in the specie escuar that issued in july 1885,
instead of July It's repeal wou not affect the mon'y
market in New York iota Believing this utterly aston
ished that the President continuing it, merely to ga
l pride ofopnon in tho ExPresden the ferocy OF Inc
kit hen One othe evils that has caused the present Crisis
but not the only from eternal conflict between .e
foolish laws Of Congress and the eternal laws OF trade
there some Esthod to prevent such conflicts IN utuo ~
csssons VII breed revelations aEd Instructions anu y -
ry Yeserday perhaps oil the re-
glar action ese laws and the general tone o INC
at Washington and the legislature at Albany STOCKS ook @hoe
cy and many flurs were announced
One OF the most important during the last lew oays H.
Schenck Co., extensive manuacuers OF American goods up
the North River This house has head Of the
for any years has Tor the advancement OF that
branch in New York than other establishment the
ne Itsbusiness txeHsiveter works at Maewan on
the kesth River
Several houses however connected with England
have already and We an
yesterday Great fears entertained for New England
both its manufacturing and banking systems Their banking
system has been greatly OF loans
and DISCOUNTS three ourhs of which conDec.sd with the
manufacturing systembeg in this something like the
large houses and the planters the inte
of the Soath West
In the foreign exchange business another extensive failure was
announced also yeserdayBulock Lyman Co This house IS
the here for banks in Montreal ana hrous
them deal of the Engish exchange wa transacted IS
feared the eeo will be Injurious with other tgs, TO the
Caaada that the condust etke
Wall street brought this house t. the grsnd
They S5ooOo deposit hyaothecaon ofstock
ofhe Dry Deck per few days paying at
periodical the Bank nmatcd to the house that the
loan would be renewed replied that if they received
the facilities the oth il would be sucica as they had ab
ties day and their emitances from csnada and
elsewhere would be till week on the day OF ex
pectaon Mechanics Bank probably acting under he priss
pies advice promulgated by the Globe refused t. renew The
lsansatng as a reason Dry Dock had fallen from its or
nal valuation per par This easabrou the house
TO the ground their will be involved Others, in
EnganJ !, in New York, and in Canada.
From this there good to believe that
tho principal secretly engaged the amabe
business oeazing the OF the Globe and Of furnish
with their stated monthly returns OF depo
circuation and specie equal important return OF the
failures they and help bring Per-
Aaps this branch the Treasury business for April be stated
in this form =