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

compelsu topostponea long and important letterIrom
New Orleans on the state of the commercial commu-
nifty there which we shall give tomorrow. We have
now a 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 SIa,-Nothing of Importance done yes
terday in business transactions. About ll90 bags
cotton, prime Louisiana, went Off at To- 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-
sure is doubtful Ii they do, il will afford no perma-
nent relief
We must have Immediately discounts to the amount
Of SIS 100000 or we shall not be able to get The
threatened run upon their vaults and general mis-
trust, urged the banks this measure That it will
be productive of no general good is evident from the
immense defc, 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
raent Of our banks become matter of judicial nves-
tgaiion strange secrets will be developed 1t will be
found that banks and prosperity have a wonderful
duce correspondent laxity 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 10 the causes OF those changes.
ID ~
Ise PnospEoTs.-In addition 10 the gratifying evil
dence which is apparent in the streets of city,
that most active mercantile business is going
in the sale of merchandise foreign and domestic,
have the pleasure that the receipts for travel
on The Baltimore and Ohio Rail Road during the pre-
sent month have far exceeded the amount in 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 give security, merchants, banks,
compan es and all must be involved IN general rum.
As low as cotton IS, men cannot get money 10 pur'
chase it, and hence IT may be considered mere drug
in the market. Dealers in cotton and tobacco seem
to have forgotten there anyof Their iavore staple
in the city, so absorbed are they in looking to how
they shall meet their liabilities. There must be no
niggardly coarse pursued by the banks If they would
preserve the credit of New Oreans-if they would
prevent genral bankruptcy. We have been walk
ing on eggs TOO long this city. 1t is,ime that
thing be done, and that too promptly and eiecually.
Hitherto the monepolsts 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 ste interests in the north begin 10 feel the
weight of the calamtcs in the foreign trade How
long will il be before our own hard working citizens
will begin to yield 10 the pressure from without?
I,,,, he ltg niI disco
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.. Biddle has tricked
New York into the measure Of the United States
bends. He makes that city furnish the specie he in
fends remit abroad, and has shaved her in the par
gain. The New Workers begin 10 feel ncensed al the
affair Banks are souess creatures, and like the
Massaroni they attend 10 Their own interests, let who
may 90 TO the wall. This is the nature OF all corpo
ratons.
Flour is dull 81. Lard can be bought for Tets
Ordinary Whisky will fetch 80 best 80. A small
lot of prime Sugar disposed of al 6, cts.
In molasses a small sale al 32l cts. Coffee refus-
ed al III cts.-no sales. Corn goes AZ 60cts. Oats
As cents Rice offered al 3. cents. Hay, is S25
ton.
DR. Shelton, President Of the Brandon and Alaba
ma Rail Road Company, in ttter 10 the editor Of
the Mississippi Free Trader, from Nlcksburg uRder
date the I'd inst asserts that the of that insu
lion were made payable only al the Merchants Bank
and ut the Joscphs house IN New York, at the Gil
rard Bank in Philadelphia and at home. The ar
rangemcnt 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 nj once restored the pa
per of this company 10 confidence Ii is taken by
the banks at Vcksburg, on 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 in suit for debts due that bank shall have the
liberty Of renewing the same for undoubted paper ill
the LIST of January next on their paying % per cent
provided foreign exchange Is included in this pro-
posed arrangcment-andp provided further that the re.
newal be made Mt any time before the sitting of the
next Circuit Court"
Mr.. Bennett states in his paper of the 9TH, that
Hunt the gambler, has been acquitted al New Or
leans THIS is a mistake. Randall Hunt is lawyer
OF this city, and was counsel for a set of blacklegs
and gamblers IN late uah before the criminal court.
BY his extraordinary zeal in their favor, and the won
derfu display of eloquencc in defence of these unprn
cpcd volators of law, he succeeded in getting them
acquitted. What are we TO think Of the who
could pu, himself forward TO the most drefu
pests Of society from the arm Of the law.-True
American.
meeting Of the Presidents of all the city Banks
was held ut the Union Bank last evening, when the
following preamble and resolutions were unanimous
ly adopted, and will be submitted at an early hour
this morning for the approval Of the several banks