Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-11-20
MONEY MARK EFT.
Sunday. Nov. 10. q -. Nj,

Commercial affairs remain in nearly the situation in
which represented them in last report Stocks are nat
and money few and diminishing The impulse
from the election has entirely subsidized Every
element nearly in It's old position, and what worse quar-
breeding among the banks themselves relative
resumption Of specie mems IN Boston, The political
elements beginning make movement against re'ump-
This has first appeared in loater pra; called the "Bos
ton Aasn which supposed be in the interest of the
ted States Bank.
The look over tie field of the currency, the M
Satisfied strong effort will be padc to prevent tie
lark Convention about assemble from ormsg general
system leaGag positive and dnct resumption. Never
hcess will be made, and in few shall learn
the result.
he principal branches of the currency the domes
exchanges Since the expiration or the United States Bank
charter in March, 1885, domestic exchange has fuctnated
than has done o- tweaty years previously Yet whe-
Their the operations the Bank the natural operations OF
trade which the Bank avsed ITSELF prevented these nucu
atoms some doubt to many haanccrs IL Is
steady uniform system of exchange in commodities that
forms system exchange IN currency Since March
1885, domestic exchange has varied from Is per
points Of the country New York. From that period
the suspension Of specie payments these fluctuations
caused by the Of system among the State Banks
After the suspension the natural III the tines nerea
ed Il sse now OF The
Of natural and the necessary liquidation Of
taking place between different sections Of the country
exchange has fallen somewhat moderate rates Al the close
week past checks drafts and southern funds
| selling at the following raies,-
Prices cfercGaage in Nr York the following places
Mobile, 6ite6a disceGn.
New Orleans. 81
Charleston. IA tsl4
Augusta and the Interior, ,osi
Cincinnati and the west, nominal
The exchange the places, New York.
reguated by the causes but in anep
poste direction. The demand for southern funds purchase
cotton, funds purchase wheat, has tendency
dimah the OF discount here and give greater de-
gree equalization is prices and values On the contrary
the balasces o trade in spite Of cotton, rice, whs &C,
qured coming here always 10 favar Of New York,
hence exchange those dsiaHt places at MUM
New York Today we have only received by the Express
/ Nail a few ofthe quotations a annexed
Prices Of Exchange an lie folosping places NsfU York.
\ Nov IS. Cincinnati, Ohio, "a o4prem
/ II" IS. Richmond, va. par. banks not drawing.
4 s s:s :!::.. d =, Note. s'S
In the states, the operations or the specie
market affected the exchanges and reduced
oDabe since May last IL is calculated that s5oofoo
specie have passed through Cincinnati alone towards Phia
seps Before the suspension Of specie payments hs United
Bank OF PHILADELPHIA had only about olOoo Of specie
in lis vaults Recent accounts his
increased 10000 s000oco The greater porsa Of
the has therefore, collected in the vest either
banks the orrary channels Of circulation In this
movement government has contributed for learn that
time ago. Treasury dra Tor 5000 paid by the
Receiver IL Public Monies Cincinnati the Surveyor Ge
neral Ohio That officer Immediately took II 10 abulion Of
6ce in Cincinnati and sold FOR premium Of s7eo Tie
specie IT, way directly the mountains towards
Philadelphia and is snugy stored IN the vaults OF the
| United States Bank.
In addition this fthe specie from west TO east
embracing probably s4oOo0oO Tor the whole upper delta
formed by Mississippi and Ohio have bees receiving
through our canals quantities OF wheat -FOUR and other
produce To this is TO be attributed the return
reasonable ~ western exchanges The southern es-
,nge however consequence oe carnsss Of their
and the quen arrival Of the crops 10 market were
The first to begin the equalization OF the domestic exchanges
The southern balances due New York 10 a rapid
process of than the nor,hw Yet have
doubt the latter In The end will ful well the
SOUTH IL The northwest great wheat and pro-
vision gion Society always though they make
| the old clothes last a yearlonger.
immediate neighborbood the future full OF
hope The opinions Termed Of tho action of the legsa.
ure are assuming aesae shape All tie various parts and
parce, OF the wing party 10 be united distinct
line policy affecting our monetary affairs repeal Of the
usury Of the Of the safe
" fund systema repeal Of the prohibition against small
and the establishment Of General Banking system, seem
% be the policy Of wings The democrats possess the
Executive aad q majority OF The Senate but doubt
whether they will oppose these sautay II Is
they principally oceoco in their tendency for although
the ooooco mother demolished the pains Of par
uron the children that's their principles yet alive and
Kicking.
These measures will be Of benefit monetary in.
eresS permission banks ones, twos
hrees will be equivalent sic direct addition their
facilities and their ability aid the mercantile interest The
highest circulation Of banks reached 1884 asd 1885
In September 1885 s4 600 of which large portion
small bills at least ssoooceo An Of small bills
viii have similar effect Large bills are principally used
large ansscionsand IN speculative business They
always returning upon the banks Of issue. Small bills