Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-11-16

MON u Y MA N X ET.
wednesday, Nov. 100 p. M.
The excitement in the stock market isdificuit
reach the orkng produce this result In tie
minds Of individuals, there vague though posveiee''
ing that the revoluoa politics will cause revolution In
trade Many yet as Of opinion that this favorable change
cannot place till spring We at the close OF
season. and on the edge winter The engagements forming
are limited aud diminishing
Mo fact deyeopes the present condition. Of
eal affairs better the business and policy Of the banks
We are informed the best authority that during the last
thirty days banks have diminished their loans full ssoooco
and their circulation in like ratio heirs9ecie has some
what ased The OF the banks Tor NOVEMBER Isl
are already in the hands Of the State authorizes at hpahy
md il probable they will be Published 10 lew days
In the mean tine we vely that the following es
innate for first of month near the accurate re-
turn made by the banks Of this city
STATEMENT OF THE rWasTEoSsD Sas uAsS Increase
Icons. 2ssss,s3s 2s,oococo $4,000
sspss,si, 5 isls sss $500 lssss
These quantities. with their variations will turn cut to be
near tie iaet-sufeeuty for all cur present purposes Of
general reasoning a deduction The quantity OF m
paper seeking dscouR at the banks uy one ha
more than is negotiated There is strong disposition IN the
mercantile interest embark in new engagements pu ne
hank arec.rs uHcommony costve. TINS arises from
want OF fun confidence in the aspect of affairs few weeks
nav wear this doubt suspicion Off sut doubt whether
every element prosperity be brought into full action I'LL
the next congress and legislature shall have developed
their new impulses under the recent state of things
Another holds back the banks and pre-
vents them expanding formerly There strong be-
lief aneng the a resumption OF specie payments
and anzaon of some general system OF foreign and
domestic exchange ought precede bank expansions,
anv n.w speculate ,n From May up this time,
tie putting themselves in healthy condition
Al this nom probably tspeu fourteen banks Of this city
out tsoe0ne excluding the Manhattan in condi
specie tomorrow The drectss
prepared-he commupy prepared-every element oil pros
Rrtt. hank vil c.lvas
OF their strength until the Bank Convention meets the
2h give the whole banking Interest of the
opportunity Of and perecng some new pfac-
cal system capable preventing such revuon have
SEGA banks expandng but such few and
betweenthe aggregate body are still pursuing the policy
Of contraction.
In this of ttiags The lection inbred has
given great impulse the spirit and fancy bat the influence
Of the the action Of ae and para
mount affected alone by political result Of any kin
banks of this city, and throughout the country with the
exception those in Philadelphia thus endeavoung
bring about system Of general action Mr. Bidde is dec
deely opposed Convention Of 27t conec-
ured by bankers that at this he much
ed think of immediate resumption Others suppose
his opposition this arises from renewed hope
under the present of political affairs he has
very prospect receiving charter from the Congress
be elected The leading fnancers the interest
Mr. idle this city very prevent any
ent OF national bank present Congress
Their that project the back ground
Congress. III Ter revolutions
present Congresswere bank, il feared they would
bank, with the chief OH &c in New York
of Philadelphia.
Entertaining these views, Mr. Bdde probably conduct.
ed his financial operations to enable him specie
payments some time in 1858. He is now expanded be-
yond proper mano therefore, policy and may
for his opposition the approaching Bank Conven
The statements Of bis circulation and specie given few
ago. do conf CT with tles views The
pansons the circulation Of be United States Bark prn
in in he shane Of pnsno sandho
Blu, spite Of this opposition it is possible, however, that
the Bank Convention become the controlling
money An asembage Of all the leading bankers
throughout the Uaon, may lead Of the greatest
startling results New York naturally gr
ney and merchandise The Convention may make
Aconcearaton the capital and Of the Who'll.
banking interest general SYSTEM placed New
York viii form check the United States and give i'm
pulse this city without limit and without calculation
Some of the interesting prospects OF the
the antcipaons formed Of the legislature The
opinion gains ground that the restraining law the law
the mortgage law, and small prohibition laws will all
Free trade in every line of bune the motto
n wings ihey throw open the banking business and al
any association OF capitalists giving ample security to
circulation and do the business OF banks pro-
duce many unexpected effects Under such law Stale
Bank OF $40 roe, 900 might be organized In oath.
The circulation Of small bills will undoubtedly be author.
ned Already has the bare hope affected the immense
tty OF small circulating here from New En-
gland The discount this ton Of paper, has fallen
TO p within days Its also returning very fast for
pion-prcbabiy $4,000 100000 day. The aggregate
OF such paper in circulation here estimated S75a
0oa-o;hers at SltOo,OOo. Truth lays between them.
On the whole, lookngup.
Sales at the Stock Exchange.
NovCMBER Is. IAN
$50 ". s. Bank l22 1913 10 Mutual Ins. Co. los
Is Union ll6 - Merch Ins. Co 100
1gi Mechanics 30 55 Paterson 5oa 50A
"a B ank Of America 1i6 1855 Hsrlaein 63l a 81
go Dry Dock Il. SO ITO 3ost K Prov 1921 1924
80 National 1851 Is Bos- Wor 96t
90 Leather Man. 104 los 10 IN. J. X. TX. 9jt
Is ". u. Conn., b. ~ $50 Stonngton efa GAY
IA Mech N AM Ins I'll