The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21


New Orleans on the state of the commercial commu-
nifty there which shall give tomorrow. We have
now corps of private correspondents in New Or
leans and Mobile better than any paper in the north
those of the Courier and Express are trash. Who in
Baltimore, Philadelphia and Boston will write to us
for publication!
New ORLEANS April l2-lO. A. M.
DEAR SIR,-Nothing of Importance was done yes
terday in business transactions. About ll90 bags
cotton, prime Louisiana, off at l0u II for cash.
Flour still continues at 81. In other articles change
occurred
send you the proceedings of the presidents OF our
banks Whether the boards will come into the mea-
is doubtful If they do, il will afford no perma
nent relief
We must have Immediately discounts to the amount
Of SIS 600 0OO or we shall not be able to get The
threatened run upon their vaults and general mis-
trust urged the banks 10 this measure. That it will
be productive of general good is evident from the
immense defci, we are laboring under. In order to
meet that deficiency, property is forced into the mar
ket and hence the present runous prices of cotton.
Should thiags run to the worst, and the manage
Iaent Of our banks become matter of judicial nves-
tgation, strange secrets will be developed 1t will be
found that banks and prosperity have a wonderful
tendency to destroy commercial honor, and 10 pro-
duce correspondent axity Of morals in the trading
world. Our great evil is, that the state banks
suffered TO exist moment after the monster was
killed.
The specie circular is not talked Of here, nor in
deed any of the measures Of the government. We
live and exist but in commercial atmosphere, and
are only alive 10 the changes that may be produced
in it-not to the causes of those changes.
BALTIMORE, April Is, IL O'clock M-CHEER-
ISG PRosPEcTs.-In addition 10 the gratifying evil
dence which is apparent in the streets of our city,
that most active mercantile business is going on
in the sale of merchandise foreign and domestic, we
have the pleasure state that the receipts for travel
on The Baltimore and Ohio Rail Road during the pre-
sent month have far exceeded the iii The same
period for any former year.-Gae.
New ORLEANS, April l3.--The failure of Comfy Of
Philadelphia has carried IN its train two large dealers
here. Yesterday an extensive importing house went
by the board. The fact IS If the banks do not come
cut and discount to meet the wants OF the trading
community that can give security, merchants, banks,
compan es, and all must be involved IN general rum
As low as cottonls, men cannot get money TO pur'
chase it, and hence il may be considered mere drug
in the market. Dealers IN cotton and tobacco seem
have forgotten there IS any Of Their favore staple
in the city, so absorbed are they in looking To how
they shall meet their liabilities. There must be
niggardly coarse pursued by the banks if they would
preserve the credit of New Orleans-lf they would
prevent genral bankruptcy. We have been walk
III tHlS CITY. IL time tnat
thing he done, and that too promptly and eectually
Hitherto the moneposts OF cotton have only felt
the arrangement of trade, because they were the
first 10 produce il. But il must rapidly extend 10
regular merchants and TO the honest and industrious
mechanic, unless the banks come forward and grant
facilities to the solvent. Already the manufacturing
and dome interests IN the north begin TO feel the
weight of the calamtcs In the foreign trade How
long viii il be before our own Woodworking citizens
will begin to yield 10 the pressure from without?
Not long if the banks should persist in discountng
only ten per cent of their daily income. Let them
take bold stand, and they will save the community
and themselves.
Ii is now ascertianed that Mr.. Bddle has tricked
New York into the measure of the United States
bonds. He makes that city furnish the specie he in
t.nds remit abroad and has shaved her in the par
gain. The New Workers begin 10 feel ncensed al the
affair. Banks souless creatures, and like the
Massaroni they attend 10 Their own interests, let who
may 20 to the wall. This is the nature OF all corpo
rations.
Flour IL dull al 81. Lard can be bought for Tets
Ordinary Whiskey will fetch 80 best 30. A small
LOT of prime Sugar was disposed of al 8, cts.
In molasses a small sale al 32l cts. Coffee refus
ed at III cts.-no sales. Corn goes AZ 60cs. Oats
As cents. Rice offered al 3. cents. Hay, is S25
ton.
Mr Shelton, President of the Brandon and Alaba
ma Rail Road Company, IN litter 10 the editor oil
the Mississippi Free Trader, from Sicxsburg uader
date the ID INST asserts that the notes of thar insu
lion were made payable only AT the Merchants Bank
ana at the JOScpHS mousse III view AT tue Gl-
rard Bank in Philadelphia and at home. The ar
rangement was made in good faith but the demand
for northern exchange forced their bills those points
before they were enabled TO transmit the regular
funds. In sixty days every note will be paid Bills
presented at the counter of the bank are promptly
redeemed. This information at once restored the pa
per Of this company 10 confidence II is taken by
the banks at Vcksburg, deposit and in payment Of
dues.
The Mobile branch Of the Alabama State Bank has
published a resolution, that all persons under pro-
test and suit for debts due that bank shall have the
liberty Of renewing the same for undoubted paper ill
the lst of January next on their paying % per cent
provided foreign exchange included in this pro-
posed arrangcmen-and provided further that the re-
newal be made at any time before the sitting of the
next Circuit Court"
Mr. Bennett states in his paper of the 4th, that
Hunt the gambler, has been acquitted at New Or
leans This is mistake. Randall Hunt is lawyer
of this city, and was counsel for a set of blackegs
and gamblers in a late rat before the criminal court.
By his extraordinary zeal in their favor, and the
derfu display of eoquencc in defence Of these unprn-
cpcd volators of law he succeeded in getting them
acquitted. What are we TO think Of the man who
could pu, himself forward TO the most dreful
pests of society from the arm of the law.-True
American.
A meeting Of the Presidents of all the city Banks
was held at the Union Bank last evening, when the
following preamble and resolutions unanimous
ly adopted, and will be submitted at early hour
this morning for the approval Of the several banks