Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-06-24

HAAS
= rnE soSr MARKET.
: The Money Market i Decidedly easier in thi
) city; that is to saw, money can be obtained q
: much lower rates than formerly, provided thu
I security be unquestioned For example, Unitet
States Bank Bonds sold at the close Of last week
At sercs per cent per assam, or one per cent pre-
, sism only, beyond the legal rate Of interest
Business, however, is exceedingly dull and the in
crease in the price Of money, may be attributed
, materially ifnot wholly to the cause. The New
York Daily Express says:-"Therc has been q
great change in the money market; within the
last ten days. The period Of shaving and usury
has passed-money is no longer employed to buy
notes. During the week, money has been loaned
with tolerable freedom ON Manhattan and u. s.
Post notes, and also favorite Rail Road Stock at
Der cent per annum This is state Of things that
New York has not seen before within year past.
! Some Of the Banks are discounting with tolera-
M fQedom, while others are holding up and draw
Money is also beginning to be offered on
and Mortgage pretty freely. The business
city has fallen of astonishingly. The
& have not more than one fourth the paper
f6dered they had six months ago.
| Gold and silver continue in demand; indeed they
are now looked upon only as articles of menchan-
die, as al! debts are paid in Bank Notes. Sill
yer is worth about eight pr cent and gold nine.
They will no doubt continue to rise for some time
to come, as not packet goes out to Europe that
does not carry a large amount
IxPoRrANr DECrsIoN.-The National lntelli-
gencer Of Wednesday contains the opinion of the
Circuit Court ofthe United States for the Dis
trict of Columbia, delivered by Chief Justice
Cranch, on the motion for a ns0nddmus to the
Postmaster General, in the case of the United
States GO Stockton g. Stokes, Realtors. The
document is of considerable LENGTH and concludes
follows:
sThe Court will order a writ of mandamus to
issue, commanding the Postmaster General to Gre
dit the REALTORS with the balance remaining due
to them, according to the award and report of
the Solicitor, unless the Postmaster General shall
show cause to the contrary, on or before the
day of
sThe question whether a mandamus shall is
sue, commanding him to pay the balance, may
be reserved for further consideration, when the
result of the mandamus to credit the balance shall
be ascertained.
GIVE ME SPEc1E-Gire me hard money for this
note, saba mechanic to the paying teller of the
Bank. "Here it is my friend" Off he goes,
ngling the half dollars. "Oha!' said he, ''ths is
the thing; something to touch-something to feel.
How bright and shiny these half dollars look!
Jackson and hard money forevcrc' Home he goes
with his silver on Saturday evening, spread it on
he table and makes quite display oft "John"
lays the wife, 1--WE owe four dollars to the grocer
or the last weeks supply" "IIcre it is.' "a 4
lalf dollar to the mlkman-twelvc shiIings for
'alf load of wood-tcn shillings for the baker d
"A dollar for pair of shoes for Bob, and piece
f beef on Sunday. Now John, what is left?' {
the end Of the gold .nd silver humbu9. o
The mechanic is advised TO carry very note b
suncy ror it he does so, and in few minutes af Fl
er he receives this specie it finds its way into u
he till of the grocer and into the pocket of the
aker, butcher, milkman, &C., who in return pay 81
way that silver to their customers, and finally it in
again deposited in the Banks for new issues; U
nd it is made to perform certain services which tn
bank note in good credit can just well per- pa
m. Gold and silver may be admired-very er
andsome to the sight; bat can you keep it? In tn
ne moment it is in your hand in the next it pas to
g to your creditors for family supplies. Why eli
i'll the laboriDg classes reduce Themselves to So
isery and want to s'aPeet the silly policy Of i.
l6-h party? You cut off the hand of the me-
lanic when you bankrupt the merchant. Where
ere are rich people, poor people may obtain en-
oyment and bread, but when the people all b.
'or, how are they to help each other? The only en-
countries earth, where gold and silver cir ha
ates, and banks are unknown, are Spain and CHI
lly, two miserable poor countries, without COM tn,
cree and without employment for tho laboring til,
ass, the 10000 Lazzaroni of Naples can tes- go
v. The two greatest commercial, prosperous, 10.
urshing countries on earth were England and -.
nerica, until crippled for a while by the con- ~,
mptlDIe experiment III Andrew JACKSON ana the ~.
I'd money system.[N. Y. Star. -.
SPECIE PAYMENT -
This morning, June IA, the Ohio Life 4 Trust ,n
'mpany, of this city, resumed the payment OF =.
ecie, for its notes and deposits As the instr -.
lion is managed by men well acquainted with 80.
cir business, the just deduction, from their re- ''
mption of specie payment, is, that they arc ~
III assured of their ability to continue thus to o
y, without further interruption. Considering VI
a duty imposed upon me, an editor, have arc
lde inquiry to the actual state Of the Com
ny's accounts. l am entirely persuaded that NJ
~ are abundantly prepared to meet and dis -
arge in specie, in preferable funds, the whole
ount of their liabilities. This statement is NJ
de, after actual inspection of their affairs na
e principal object of this notice, is, to advise sA
holders of Trust Company notes, throughout Cos
country, to retain them with entire conf '
ace, and make no sacrifice upon them, to the mas
,cie spectators, who will be out in search of tim
IN, seeking to buy them up, means of OBJ
nj evnortation ahrlad forS cha