Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-07-10
MON ley Nj Xxx X e II.
Monday. july 10.

present state 10 on
the effect that general suspension will have IN England
that there certainty any calculations we may make
Analogy teaches that the receipt this
American Immediately fall and all credit
to the wall This will be the signal for immense specuationn
deprecated stocks thus adding fuel the fame that now
consuming cur commerce at home and abroad.
Again effect of our bank suspensions will be apt TO ope
rate seriously the moral feelings of the English community
Should the bllhode take the ALARM the whole machinery ct
the currency stops at II England this
try There isn't going upon rredeemabe paper system
Revolution is ensue, if par value established
The action of the is the only safeguard in that
case But the effect ola oppage in England will come back
with double force and drive banks still fur
Their from resumption. The whole field will then be open
spectators and paper monopolists
While we are thus keptn OF what going ever
the water, sky troubled aspect Now and then
clear bit of blue breaks from the swiftly ssng clouds
that hover and hopes nightly lifted up. On
comparison OF the condition the banks the Union
in April 1887 and June of the year, results the
most dissonan from each other.
In Ohio Kentucky Illinois, and Indiana the of spe
lie for April 1887 1862 and for June o2S Here
is clear increase of nearly ye-tentls space
months With this gain the metals the decrease of their
circulation than onetenth that of April From the
management of the banks in these States and their
condition. be safely argued that they will be the first
resume specie payments. What anomaly will be in the
history OF monetary that the Western States
should be the frs, take the lead the the path Of
honesty, integrity and a wholesome currency!
Otner
nothing else but regulary, confusion and ssensn in the
management of banks Those in Tennessee have largely
IN debt to the New Orleans banks TO induce the latter redeem
their paper in Louisiana money Not with this they
about the Philadelphia banks per honor
their drafts hcm thus turning from its regular channel the
of exchanges The banks of New Orleans engaged
ina civil war; while the pressure from without threatens them
with destruction Every where find extraordinary
gree OF ennity rising between the rival
not this state OF things argue complete
mark.
In Alabama the legislature has violated constitution
by actually passing law imparng the OF contracts It
has egazed the suspension till 1910, and directed
when the debtors of the bank shall pay bills Of
exchange This law shall be noticed fully mother day.
is nothing than the work spec and overtra
de themselves from Of their acts
tits another stone in the arch political roguery be-
gun by this
All these things but the porents great thunder storm
that must surely come to purify the atmosphere We pre-
pare Tor another shock in our monetary affairs Three four
hundred banks will have close up and doing they
try TO make the public feel the weight of their angry dsap-
poinment This operation joined unprecedented fall OF
American securities in Europe will teach another
wholesome lesson.
The equivocaons that portion press supposed 10 be
favorable to the United States Bank the cone-
plated resumption Of specie payments by Mr. Bdde are uy
amusing The paper wings fighting in ranhs
with the regency menal equally the PHILADELPHIA.
fn"ncier for presumng The country can now
easily distinguish between its and false friends
market, not to be wondered These never
look till get peace money world and drive out
OF existence whole patches OF Stocks fancy that now
ntes the purieus OF Wall They find their level
rapidly enough
Specie much in requiston today. The effect Of
Mr. Biddle's will still more TO decrease the
demand Our debt England being wiped out that
great operations specie reasonably
for the next ninety days Remances will made in
cotton as by this operation great gain realized
quepce OF the disturbed condition
GENERAL MARKETS
New York, July 8th p M-Aucton sales today were again
entirely uspendedaDd transactions private account were
on an extremely small scale The -four market remains
at our last quotatonsgrzin up and the sf-some
sales OF northern in snail parcels have been
Substitution adly nothing
consequence TO reps in Tohaccoseme very small sales have
taken place
Receipts Of barrels -four 20 do provisions, is
| tubs butter
5. c.; msdsSa,e demand MoIassssmGn I@yee IS =
s per gallon On plantations 70 s2c sale Pork, clear,
scarce; prime 90 plenty; o N III DO dol buzz
Per i. ia,. .srs SssiTMs.. i per ssJs
bill sle Lead Pig sl bar Tossse.
f.t quality y asc perlb second do ~ C. doi crossed,
LousvILLE, Ky, July i-CooD-Tenne,.ee and Alabama,
o. sc s so9S s ra e '.sSwse n '
eonds ~ common per hhd Virginia manufactured, Is -
4 kentucky do. per I'D
AUGUSTA July ah-Cotton The demand for this article
continues animated for the first descriptions and all that offer
ed eagerly besght up while inferior and mddng qualities
nd of even proporonste price
during week have been thousand bales prices
log from % cents.
CHARLESTON, July 5th r. M.-Cotlon-we have no aera-
ton Upland Cotton Sales place
the rates then quoted Rice-Tbere contiupes
good demaDd for this article, with sti further
price Prime Rice has brought ST. since last weekly
view.
RIcHnoSp,' July 6-wbeai-Fss been sold repeatedly or
August delivery at lso The stock Flour how usal
actions triing-he nomnaiy eats supes&Ae
Tobaccc-Is In very active demand improving preesthe
range OF saes pretty much a 6 occasionally under and over
for few bids.
BALn~oaE, July sh-Tbe following ook plsce NE
18th pst-l5 hbds Foo Rico Sugar ESQ e7e6 ~ beA
do o6l0a 6,25; hhdS Oleans 40 -
bhds 90 MoIssses 3sc.; hhds. Porte Rico do. 3ssc
Bosror, July 6Four Genessee Is advancing, Sales 81
do from store, al 1882 Ills No change W sonuserA-
Gran-supries Of Corn light Sales OF p~mc Soosevn
| yellow at La; and White al io5a los PER bu~net
Bosros July M-The market, usual nj this seasUn,
presents much intetst All business Opev
atsss OF the week been extremely imed wieut
20 plenty has been hut prime securities ~siy
taSed legal interest There but little doing in foreign en-
changes consequence efe scarcity o. prime bills Spece
declining
| Sale OF stocks nj tho stock Exchange,
| ca ~ " Rank IIoa a no 20 Manhattan Gas Co. 10
/ IA Civ R.rL yOt 20 Jamaica X r. O5
/ io7sDvl and Hudscn, 7si 73l 50 psstersonRR,s s
| a Morris Canal, 7osT@ 20 Harlem, 90 80.
- S,s,s Ss" trust, ~ .ui 8 New jersey