Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-08-04
MI ON EY MA II X Il It.
Thursday, August 3, p. M.

About six wears ago. the exporting England this
.cou.,ry was basis Whenever order
was sen, 10 Birmngham Manchester of the large
goods for the no trade
ton with the manufacturer was-how pay off his
hands gave credit his industry three, four
months the might be. The demand for goods on
time, great exhaust the heaviest capital Ii
then TO By which funds could
procured to the weeks labor. What
the method adopted! Let In pst TO Illus
der from London for 2OOO goods The material
trae the procedure manufacturer receives an or
he can buy a, six mon but for him TO have Sc
ven or eight hundred pounds to his workmen WIN ne
forthwith gets thousand pounds worth OF articles Tor me
American market and sends them 10 the Brown" or some oth
American hoase bill is drawn upon the same rouse al
three six months the faith of the shipment Tor twshds
of the easily negotiated, and thus the manuac
put possession TOOL With this fund in hand
he the ORDER and pays his hands at the end OF
the week.
Such i the system whose foundations laid in 1880
1881 II extended TO all Of trade and industry
went on in geometrica ratio till the eninatono 1885, Mer-
houses joint stock banks the Bank OF Englanl bbo
kers and capitalists all joined in building up sys
without in iung whether the ioundaon By
its weight II fell.
There is reflection dictated b. this trading
manufacturing should passed slightly over We
accused by the English OF getting their goods and
paying for them II that their
compelled force goods enough
obtain funds sr the ulfmen Of home and other orders
They dependant for their industry.
They asked OF what they did ast their
chants We became the of the industry of Man
chester and paid for beforehand And have been
led rcbher OF English productive capital The expose Of
their SYSTEM operations throws the winds such idle nsnu
ations and silly accusations The Americans people,
cupy high position Let the English get
If he without for the failure No advances
will from this side Of the for goods which
This very system of advances ruined the South We
have long since shows how operated between the factor and
planter Win the English and American capitalists hencefoh
conne themselves the operations trade Or will they
forget the which they received which
will not end before March, 1888.
Every day. hour is witnessing the downfall Of the
of this system. Our banks its springs While
blind confidence reiyncd they the Supreme
the body commercial and social The public them
dangerously lessened Since the defeat
Bank of Philadelphia has been for putting in crcu
lation dollar bills issued by The Philadelphia Loan
contrary the OF l7h March, 1877 prohibiting small
notes. The fine Of fifty dollar awarded against the bank
by the This is right Let banks know the law and
public opinion will control them, they will desist from
ing wrong.
Stocks very variable The sales very large
They hardly be said exhibit the condition
securities than thermometer would mark
sphere ahot summers day the bulb
Immersed in ice water
moving in every direction that It Is inn
possible to the real value Of stocks We give
the tables however, evidences the disturbed Of the
money market
Mr. woodbury. reports receipts and expenditures for the
month Of July thus:
For customs about s2Is,ooO
lands oSo,oW
ssos,ooo