Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-10-20

Thursday, Oct. IL. =. NJ.
most extraordinary inaction still prevails In the stock and
money market Nothing doing and soshng like TO be DONE
Until the Treasury notes be issued there viii be dead pause
IN Wall street.
From ndica around u.s. disposed to be-
heve extensive conederacy is maturing among the
Baltimore Philadelphia New York and Boston,
impede negsciaon Of these notes, compel the
submit extraordinary shave The principles
which banks have acted the merchants since
1885, when they first received the deposes Of the govern
not easily abandoned might suppose nj hrst
FASH Old rogues become vueus sudden The old
legal interest offs to sneered at now days by all
the respectable bank managers who have been in the habit OF
receiving 10 to IA per cent for 1885 and 80
would appear that the banks intend to act on the system
towards the Treasury their predecessors did in
1914, during By combination, in that disas
period the government from its necessities,
compelled submit termand 10 species Of
rency 1918 the latter of 1914 the banks negoc
aed about Of Treasury notes At varying discount
Is per taking ase in exchange their bank paper
at par.
II is more than doubtful however, if the
profitable speculation at this crisis in oar affairs In periods
peace the British government frequently issues exchequer
bills to relieve esses of the public
sury instance has happened that these bills
exchanged higher Of interest exchange than
legal of per cent Indeed frequently, the
British government has realized such negotiation avas
at less than per cent interest at par.
extraordinary, therefore, suppose, that in country
Of this kind, where there is such Of a commercial
medium, and much capital seeking investment that the
banks by any combination, compel the government
take less than the of discount Sooner than submit
excessive shave learn that the Secretary of the Trea
sury will send England and throw the whole
least part of the ISSUE into the London market On that
great money mart there be doubt but the American
agent could procure specie exchange for per
interest," payable London, 81 per cent payable
the United States Next year immense food of immigration
will tend ards this country and increased export
and American products 60 towards Europe This comb
nation of circumstances will reduce the Of exchange be-
the countries par below par and in favor
of the United States In such state of things the Treasury
would rise in London, they became the medium
emigrans Of transporting their funds this country
These Of the varying and conflicting views which
prevail in Wall street respecting Treasury notes.
Whatever the banks the Treasury of the u s.
Government will be the best edeemabe
fixed period, in the known world We without public
deb-have fine country-splendd crops-a rising
and in spite of the last six months Revision fourishng
The basis of these issues is the public
that again rests rich and ouhag nation There
is in Europe excepting England
the elements Of prosperity in such abundance possess
this moment The Treasury issues must th reore partae of
the general and spirit of the The
combination and intrigue ouw the government and these
institutions last year. succeeded to shave the merchants we
don't why they cannot also succeed cheat the
They have already cheated the people $4,000
00a beggary discount of 10 per Treasury notes
woud only be $1,000, 900
The foreign exchange market has yet opened for the
packet At present bills London 1854 to l6 The
following the rates ofdomesc and foreign exchange yes
terday-
Prices Of certifcates Of opposite andbams checks
on Savannah, 81 to . discount