Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-10

demand for the American bills YVES probably the prin-
cpal cause 1t appears that the country bankers are
in many cases adopting them for Investments.
In the English stock market there was not much
done during the day. Consols advanced in the early
part of the day to 905 but the afternoon dropped
little, and finally closed at 90t TO for money and the
account. In consequence OF the continued sale OF
exchequer bills, 10 which reference has already been
made, the premium again declined, and was at one
time as low as 23s., but improved towards the close
of business and left off at 24s. to 26s., premium.
| There were symptoms today ofa relapse INTO the
commercial distrust, which was supposed 10 have
been removed by the introduction OF the American
bills which prove however, at present, by no means
sufficient relief and the Bank OF England IS again
called upon to interfere Some attribute 1t to the
| limited amount in which these securities have yet
been sent under the uncertainty OF the reception they
were likely to meet with but the real source of evil
it is now obvious lies much deeper. Nothing will
place matters in their former sound footing but such
a rise in prices will allow of fresh importation of
produce as medium of payment. Unfortunately, a
struggle of the same kind has commenced in our
trade with the Eas, Indies and China, from whence
mmence conslgnments are on their way hlther, on
which loss Of probably Is per cent must be sustain
ed looking at the state of the home market. With
the additional claims on the bank for support which
arse out of these new sources of commercial diff
Guilty the directors evidently placed in very em.
barrasslng position, and may even find the power fail
them, whatever their disposition may be to assist
With respect to the new American securities, the de-
mand does not appear from the best information that
can be obtained, at all to diminish. Now that the
bills which were without endorsement, and which
greatly preferred at the Stock Exchange, have
gone OFF, the endorsed bills, which objected to
first, beginning TO pass current there, and the
price is remarkably steady one, scarcely varying at
all from the quotation of 94A to IS. Whatever the
amount OF business in them may IN reality be- they have
never been so firm as they are at this time. 1t has
been stated that the bankers in some instances have
refused TO make advances upon them, but this was
1kakl, tlnr
claim for such assistance If this were the case it
would be no argument with parties having spare
money at command against employing 1t IN hat man.
ner and II is chiefly in the hands Of those who not
accustomed to ask for help at all that these securities
must come. They prefer them to Exchequer bills or
India bonds both for tn higher rate of interest they
YIELD and because they are secure for a given time
against any reduction in the rate ofinterest paid.
Letters and journals had been received from Madrid,
of the 18th of April. -Four directors of the financial
ference with the minister Of finance. The psople of
the capitol were apprehensve of visit from the Car
lists, and the minister at war had made preparations
for the protection Of the place.
The troops stationed in the ncighborhood are, il is
said, in state of too great decentralization" to be
relied on. The communications through CASTLE were
every where interrupted; one of the semi monthly
caravans from Madrid to Andalusia, had been plus.
dered by 80 Carlist horsemen within three leagues of
Talavera de la Reyna.
The Cortes, on the Gath April, adopted the 10th
paragraph of the 47th article of the constitution,
speeding the powers of the sovereign and voted down
the following articles to the 59th inclusive.
Letters from Bayonne, state that Don Carlos was
to remove from Estella to Villa Franco the LIST of
May.
The Paris papers of Wednesday, May 3d. ray that
the debate in the Chamber of Deputies on the sap
Elementary grant of q 000 000 francs, for secret
vices was going The grant was commended for by
IL. H. l~ntu - ..xG
dencs, in the theme as measure, the necessity of
which was imperative.
Count Mole declared that the appanage bill had
been Withdrawn only because the king desired not
that three measures relative 10 the interests of his
family, should be discussed in the same session.
II was asked what course would be pursued with
respect to the revelation bill To this Count Mole
declined answering, as the bill was before the COM
mltlee of the other chamber.
With regard to the transportation (for political Of
ences) BILL he said the government intended TO press
for its ADOPTION Ii was the complement of the laws
of September passed by the Chamber.
The comments of the papers on this debate lead TO
the belief that the present ministry will maintain itself
with difficulty.
PANS, May 3d-Bourse.-Five per cents l07f Soc;
Three per cents 79f DC; Bank Aciives 2400f Renle
de Naples, 99f 30c Romans, 1925 Brussels Bank
l,42Of; Portuguese Three per cents 29i Spanish Ac
ves, 23, do. Passives 81; New Dfieres, s; Belgian
Society, l,050f.
The BANK PHosEcUTIoSs.--John Haggerty &
Sons left alone in the glory of prosecuting free
press for publishing list of broken banks and mer-
chants among which they were by mistake iRclu-
ded, but without any intention to do injury Messrs.
Burns & Halliburton, and Davis, Brooks a. Co., have
abandoned The suits, both civil and criminal into
which they were persuaded by the OHaggerys' to
institute against u.s.
Both these latter houses are the most respectable
in New York. With the senior partners we have
long had personal acquaintance, and they know us
too well to credit, for one moment, tina, the pubca
ton of their name originated in any other than mis-
take When men Of high order of intelligence and
inteectare our leading merchants or our leading mcr
chants arc educated and intellectual men, we see no
scenes of ludcreus passlon-no groups rushing before
courts and juries with every cemplant-no hustle
and nonsense only characteristic Of the untuiored
Mlesians of the Five Points, or the county OF Con-
naught. Intellect and refinement appreciate intellect
and acknowledgements, passion, grossness and
vulpanty try to reduce all to its dead dirty level
During the last few years, scenes have taken place
opinions avowed and conduct boastcd OF that
would corrupt whole people. The genius that
conceived the originality, the great WISDOM and
the deep philosophy, quietly hidden under the