Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-02
MONEY MARE K II.



time the spece-and there plenty of it in the countrys now
very benevoleny in sustaining remaining portion
of our foreign trade and building up ready money sy
TEN, oniy in the retail but in the coasng and INTERNAL
trade
The large traders and dealers who sprung during the last
years. based entirely credit find themselves no pse
of by the suspension than they before The gfea, o9c
OF the SUSPENSION by those who urged son inc p"A WIS
fresh issue Of papea rise OF
of the stock jobbng and land obbing MANIA IN TINS purpose
they have been entirely defeated large poruon OF 'e Guy
banks viii not enter upon the new moveeh.-hor WI eS
permit themselves be made the Instruments lot retrieving inc
broken fortunes OF the spectators
The negotiation between the safety una anu e Guy oAs
is therefore far frop adjustment as ever
We have TO believe that the proposition hade
,y Cornelius W. Lawrence Co., will be fully carried
pto ert We will in order that be under
stood There are seventyfve country safety fund banks the
loans Of which SS3067053 AT the SUSPENSION their crcu
laon was o0bu by the Law they allowed to
increase that $l5OoOO0 large portion OF the loans Of
these banks facilities given spectators, connected with
the government For exampetere is land company
in this city with which several OF these spectators
neced They purchased large amounts of public lands at the
west II called the American Land Company portion OF
funds for this and other purposes unquestionaby fur
nshed by the banks Another point important The depre
citation ia prices generally, will great loss to those
received discounts These losses will ultimately fall
the banks Their general situation with regard to the state
Funds also precarous The specie OF ali these banks
be less than million, as tar as known As to the
statements put Bank COMMISSIONER and the Legs
lative committees confidence is placed in then
things, with the power to issue rredeena-
BILE paper currency the amount of Sloooo and as much
they get out "by hook by crook hsno won
der that the city very cautious of entering into the
conditions the Suspension Law of complying with its pro-
visions As the proceeds, and business increases so will
he difficulties OF redemption increase the part OF the Safety
FUND banks.
The struggle FORE between the specie resumng banks
and the paper banks, will continue
According the accounts s5oO0oo in specie,
ported yesterday Euopeof which, only $4,000
tered House These operations will the
nucleus foreign trade hereafter by securing the mutual
confidence certain portion of the houses in both
countries broken Yet tbsre doubt but large
portion of bills England will be returned This apprc
henson great embarrassment here Drafts houses
here London bankers refused to be paid to be
accepted under the belief that they have failed long since As
the time stretches since received arrival from Eng
land the ntery increase know what is
In the meantime trade between the different sections of the
country channel for its action and
system Ourdomesc exchanges all nruns
yet enerpring begin find expeient sufficient
their purpose, till shall receive National Bank We
learned yesterday this fact A house in Augusta Georgia. had
belonging house NJ York-but in the state
of exchanges Ismances could be made What to be
done! The Augusta writes the house in New York
=" We will ship you coonseli for cash and pay yourself
This DONE BY this species OF domestic ex-
change esnsng ITSELF the basis Of produce, ship
ped On consignment
This transaction indicates the OF reconstruction ID our
domestic exchanges That the foreign and coasiing trade like
the trade with New Yorand the retail trade OF this
city, will naturally fall into convenient and useful system
have slightest doubt On the destruction Of the u
Bank internal exchanges seized by State banks and
brokers' whom understand fully the principles of
change The consequence complete explosion OF the
spsem year. order grasp than they could
manage, the large exchange houses in London Liverpool
New York and New Orleans, mad career, increased
the price OF the staple beyond its value, and made
local dicouns to per cent per month"; the oaseess
t..l.u. -~l.~ l.,atn
Take this city sample The competition OF the State Bank,
Morris Canal Penx and other large dealers, who have
ed run business into every degree OF exrayagance
This by weight Accordingly the dealers OF pro-
duse SOUTH the importers and jobbers north after an IN
errupon Of months beginning reconstruct their
own business The operation which already Described
Augusta and New York. the beginning OF such
system Adomec exchange business founded on this princ
pie will tall ruin did the former baseles system
founded the value ef cotton and other produce, at their
cash market price in the To which il is sent twill
sver the purpose very web till get National Bank
GENERAL MARKETS
New York, June l. r. MBusiness today passed of very
qui ty. Auction sales rather a smaller scale Not
nuch doing cotton, flour tobacco Our hast quotations
will answer for todays,
F1our-The market without any material change Sales
of New York took place sa25opcraons heother brands
light
Auction salcsioo bags wheat IS sc IL boxes raisin
s0 IL boxes prunes Is 400 casks port wine NJ 90 Sc
VI &l0 lIo0loaves refined
49, cas half pipes wine 28c 63 wine nj l2 IL
red hermitage oil - white do. ut 3 20 case
campaigns 81 81 GO 10. do 81 10 hook 81 81
% half pipes madeira 50 &c., months "a boxes raisis
n or. boxes sugar III $500 bushels damaged rye
67 7f 1000 do do wheat or - bbI New Orleans
moas-es SHE - 81 Is dozen each care q 81
hhd Porto Rico sugar 5ac 81 half boxes egars Toe
cash.
Receipts OF yroduec-lf15 bb. aour ashes 10 do.
provisions.
BosToS, MAJ Jo-Codee-There has a little demand
speculation and sales OF no good Havana ~
25o 10. st. Domingo, quite ordinary, ri cash sales
day iy auction OF $50 bags fair RIO, at " G, mos Fruit
sales 10y auction OF - casks Malaga rasns AT $500 375
mos FlourSaes OF GeDessee made sl02j 1880 per
bril- la0 brls good New Orleans sold landing $780, cash
Sonthern Is steady; prices little higher GrnnCorn Is In
active demands there but little here, and small lots have sold
M% 8 Tor white, and 100 for yellow sugar-Prme box su-
Porto RICO " u SAC. per h., 3mo..
R,cHsosp May z-The supply Tobacco very light for
the season. the shade NJ improvement n prices
Of all descriptions Flour bcd ts fpr superne Of
nspeenn transactions merely by reta continues
SCARF win very little disposition TO operate in any article Of
produce.
New ORLEANS May cotton this day, 1857
bales at "a i2c.
2ihlhe Yesterday were larger than on any
day. for months past, they amount 10 1851 bales.
We not aware 81 particular for purchasers
terng the market 90 freely, should he that capitalists
feel more confidence IN hs, article and money be
moro easily obtained.
Four and continue advance we ouoe the former at
go bbl aud holding lo hut we hear OF no sales
sin; corn v selling readily ~ III per bushe.
Other articles of produce remain last weekly repor
Saes at the Nec Yort Stock EroAonee yspe l.