The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-05-17
MONEY MAR X e IT.
Wodnesd ay, May IL.

determination TO prevent the tnieu "
resunng specie payments till its charter shall have been or
eed by the laws Pennsylvania and that the first step IN
this the reception OF peremptory iva
sury order yesterday enforce the collection OF the con
cial specie in the specie paying BANKS VI
this could not be done, the bonds falling que a. ~
Treasury the Custom House. al least
small extent.
by the laws of Pennsylvania every bank iores
its charter fiat the end Of days does not resume specie
payments II is, therefore the purpose OF governments COZ
ect all is specie in few places and to m iore On
the United States Bank nts most vulnerable points, 80 a. 20
prevent its resumption Of specie payments t he aeay shai
work forfeiture.
rbi il r., ala ocv ofReuben NJ Whitney ia 1883 revived,
when an effort was made break the branch OF savannah
When the government made preparations 'o ha' DOW 'l
Bdde himself was the discover their secret purposes
In looking over OF notes received al the New YORK
hrancb he al covered that among them Savan
nah branch notes The gave like indication Mr.
Riddle nedaely discovered the plan from this fact and DIES
patched messenger Georgia with the specie TO meet any
blow that appeared 10 pe meoita'ed against ee oi ne
succeeded.
In the present plan of the government appears that Mr.
Riddle intends guard himself in His letter in
another column plainly that he viii walk cautiously and
maintain strength his position In other respects thse
ter gives very little insight into the position of things
simple that have overaded in our for
egn affairs that this debt be paid before can get
old practice. This slight discrepancy from
year, which he stated that he did not under
what overtrading lie has probably dcov-
cred It's meaning
From appearances therefore, in the beginning OF
fresh pressure panic the hostility OF the
the United Bank each other and il their
empers consideration, it Is highly proba
bic that neither will relax i'll every part and parcel OF the
credit system shall have been thrown down The general
sumption specie payments from these hostties, viii
take place. and the beginning of the present crisis only the
last Of the uagcal drama Of paper Throughout
the unon by the laws of tie tire banks later
lose their charters in this the Safety Fund law
Eay but there be doubt but the Legislature viii
that the
OF redeemabe paper The hope that any Of the
banks would he able TO resume specie payments getting faint
and fainter We have before long ofeacn,
perty and contest between specie ard paper.
Under this of things, the loos
ther gloomy yesterday. the government deter
mnaon insist specie payments all the paper money
TEN is gone Hereafter viii be fierce and bitter
contest between the paper and the specie rency
The consequence, therefore, Of proongat Of this singular
quarrel viii be rapid dmnutou in prices the absolute
cesy of ecsnomy and the curtamen OF foreign ard do
mestc trade.
Now in such contest, which the bes
of the victory! We disposed think that oece
viii paper all hollow, that il the power If the
government with its party and M united VIII, the
pausibity popularity specie cy, destroy
remain ing paper in is thu This
contest will extraordinary chan in the owner
ship property for the coming than u recent pressure
has for the past
In his state of confusion, all knds of and surmes
living about yet tell where he is, or whittier he IS
aong evident that the whole bank ~ syem con-
nected with only ID o' uauS VI
ton pays the balances between section an sections but IN
the absence of nednm specie and book debts viii have
to step and take its place about eighty per cent q all
transactions OF life negotiated without the Intervention
bank paper then the explosion OF he whole system WI oy
be partial. general, evil
In the meantime for time the tsco
in fall activity ong each ether in tie race Of utility While
things lasts specie will connue 10 advance and
paper depeciae is highly probable 100, that al the
Union will flood the with fresh emissions
when the CT. OK convertblny in specie removed and
toned by Law. Our paper under the present maiasor
speculation w therefore, go on gradually 70 get less ana s
r'--r the continents.
ney Of OR canno,tand tie Jug OF war with e
Gle Accordingly failures in the higsr branches Of business
continue, Will. the middlng nerests u trade which e
nucleus system conie oage, get brisk, and
widsnin healthy action The ovingTe the yesterday
in City Bank Bills
American gold, sto 10 .per cent premium
Safety Fund Notes, q, ), and 20 pr cent discount.
GENERAL MARKETS.
New YORK May l6.-Owng TO The incleRency OF the
forenoon door transactions Of all description
postponed and theew country merchants tt present
IN the city kepz home; when tiny DO bay however,
is rarngy ssyng 10 the derangensss Of money
fairs all the county, wholesale bushes great measure
Is of from this city, and Appearances indicate as an
exceedingly dull fall We DO any thing in the pros
pecti,e that would favor the opinion improve
ment the markets this day business has passed off
with Lille better feeling bn how long This will last i in
possible for determine Flour both a
sanced trle, but few sales
Flour remain the advanced prizes; sales
Grair-wc quote wheat a, sl.3o 10; rye At 20 10 &;
Northern at 20 a 100
Receipts of Producc--llsO barrels -FOUR
aes a tie M.o York St.cs Erosanse, May 49,
1G " states Bank liz " III! p Manhattan Gas Co 100
% Mani attain Bank 100 20 North Am. In. Co 80
100 Mechanics Banh, 10 20 Howard fns. Co. N
q Morris Canal - " 50 1862 Mohawk Rail Road, 10 81
go De-. Hud 70 to 10 l5 Bos Pr. H. X. lO2 10 1913
3ot Am IT. Co Bait. ~ 20 ~ 10 Bosi. Il Wore, H. w. 81
60 Far. Trust Co. 891 to 60 20 ~. J. r. H. A r..
% Ohio l. r. Go. 87i 10 81 1853 Utca w. x. no us
p y. o. Canal Co. 10 2Sl5 Long Island r. X 81 10 65i
20 Kentucky Blk. 80 1855 Canton Co. 10
Saes at Philadelphia, May u.s.
40 u. 4. Bank lis to liz Louisville Bank, 80
5 Mechanics Bank 30 100 ". q. Gas Co. 10
MARRIED..
On Monday, 18th by the Rev Francis L. Hawks
9n.i. King 70 Aene Taylor, daughter Of William
On Monday, 18th inst, by the Rev DR. Hawks John r.
land Nelson county Va, Mary, eldest daughter the
late John sebbins, Of thi. city.
On rha,rssy lah inst at Baltimore, BY The Rev. Dr WYATT
william H. Hoffman, ESQ, sf that city, Ellen ~. NJ eldest
daughter OF John Trayers, Esq, OF New Jersey.
DIED.
Iipat Nr,I flarL