Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1837-04-28
DOMESTIC.
THE MONEY MARKET.

New YoRK, Saturday, | o'clock. M
relief yet 10 the money market, and indeed
no prospect ahead, only, (soys the CONNER
caD that it appears to Us the state oil
things cannot be much worse. Yesterday
the names of several extensive dealers
were added to the long list Of unfortuna,es
IN all probability many will follow in the
same train this afternoon. What adds to
the distress of almost every individual, is
the situation of country paper. particularly
Of our own safety fund banks, with the ex.
ception of the Geneva Bank and Bank OF
Buffalo, and perhaps one or two others.
But one or two brokers will buy this money,
and they have taken only limited amount
at 2 Q. per cent.
Half past one o'clock, p. M.--The Com.
mercia Advertiser says The money mar
ket was again seriously agtated this NOR
ming, by advices from Albany, that the
banks Of that city would receive no more
paper of the western safety fund banks.--
The state OF the case we believe to be this :
The comptroller had given directions hat
the State Treasury would receive no bills
Of certain western and northern banks
which were specified, and which we for.
bear TO mention, inasmuch as it was under
stood last evening at Albany, that the or
der would be revoked this morning.
One of the Wall street houses this NOR
ming received letter from an Albany bank
stating that they wished no more country
bank paper at present. Net a whisper has
been breathed, however, against the SOL
vency of any OF these banks.
Another Wall street house executed a
small order from Albany, for the purchase
of country bank paper, TO he amount OIL
SIS 900! 1t was soon supplied
General Davis, one Of the bank commits
sioners, is in Wall street this morning.
His assurances are Of the most positive
character, that The banks are entirely sount
- and so we believe. He is DESTROYS o! eff
tectng an arrangement for the redemption
Of country bills, TO the amount of FIVE hnn
dred thousand doIIars-which, he is conf
dent, will be sufficient for the emergency
Accounts from Mobile and New Orleans
arc startling. 1t would seem that the con.
tinuance Of house to do business there a,
all, forms the exception to the general rule
New ORLEANS, April l4rh. The fail
ures cont niue, and consequently the pane
cannot subsldc. Ii is reported that The lIa
bllilles of the house of ". e. j. Dick
amount to fifteen millions of dollars. instead
OF five, as | stated enormously yesterday.
They show assets for l6 millions. The
other houses that have suspended within
the last fortnight, arc estimated a, the same
amount, making in all, thirty millions. -
Among them arc five or SIX Of the first
commercial establishments Of this city,
The genera opinion of the knowing ones
is, that every body must now yield to The
present unparalleled pressure and dcrange-
men'. Unihvorable rumors respecting
some Of our Banks are in circulation, which
renders hopeless The idea of any assistance
from these institutions. Finally, things
look exceedingly gloomy.
BosroS. We have foreborne any recent,
comment on the state Of our Commercial
affairs, from an unWillinGuess TO add any
thing to the prevailing alarm Of the com.
mnnlty. We had hoped that the troubles
IN New Orleans and New York could be
partially rxpla ined and accounted for by 10
cal causes, and that they would not extend
to our own city. Our homes have been in
a degree disappointed. The causes of our
distress are too deeply seated in the zen
eral system. The entire deranpcmcn, of
our trade and currency, by the mad inter
ference OF Executive, Is destined to harra.s
and convulse every section Of the country.
There have been during the last ten
days five or SIX large failures in this CITY,
all OF them Of houses esteemed two mon his
since not only perfectly solvent, and abun.
dantly able to meet all their enga remen,s,
but removed from all apprehcnslons of dis
aster, OF credit undoubtcd, and resources an.
limited, But while they have been for
years stimulating the enterprise Of hun.
dreds of individuals, and furnishing hun.
dreds with the means Of subsistence. bv the
active employment Of their actual wealth.
they have themselves fallen victims to the
grand Executive Experiment of a Specie
Currency. The failure Of these Houses cree
ated much surprlse-but we understand
that most of them show a large amount of
property which, in ordinary times, would
be amply competent to the payment of
their debts, and leave them with a con-
surplus. The destruction of con
fidence, The loss of the facilities of bust
ness. with the failures at the South AM
West and New York, and the depreciation
OF property consequent on the state of the
Money Market, have led TO he embarrass.
menls which have finally terminated in
failures. Alias.
BUSINESS. We understand that i, is in |
TO stop several mills in this
city, ~ consequences of heavy pressure in