Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-05-27

N NEY MARKET.


very e-probapy not less than 81 during the present
month In the next month"; should not be SURPRISED If
S9ooo were to 80 IN part payment of the debt 70 England
Nothing prevent specie going out of tho conn, ~ NM, M
paace OF trade be equaized-w hen that takes place il will
cease OF its accord and probably flow back ayaip
Atths moment the whole trading community are eadravar
ing 10 get into position for action For several DAYS mast
negotiations have been going night day. amonr Tho
banks OF Wall street and The agents Of the country banks
'eens their future of action There been great
ooubt-great diuityand extraordinary ofhannony
between the city and country banks tutimaons indeed
gwen out from Albany and elsewhere at these negotiations
have at last terminated satisfactorily all The
Albany Argus" ON the authority OF the Bank
LON hissloners who Imagine that all the dxcules have beer
dged by the seeming acquiesence of the city banks the
OF the Suspension law We knew this
DC utterly unounded Tue banks of New Yosktie sound and
solvent banks OF New Nowl never permit themselves to be
ne e hs'rument-the corrupt ns,rument-of issuing pro
~ eheenaDe paper currency upon the country which
e Abany Argus in its corrupioa and insoence auda
Guy 70 can better than the former specie paying currency
Originally everybank Ibis city opposed TO the Safety
una pupoe IN the yearsse9 and 80 when that
projected and carried out under the pretence o entire safety
ana oidty the two chief bankers of York. LynIe Can
and Charles wilkes then alive whose like we eer shall see
again predicted emphaticay the which has ovea
ken the safety fund happen this facfor on
the first discussion relative the renewal city bank char
tiers then about expiring, present Albany
correspondence with both these gentlemen the subject
The statement made by the Albany Argus contains indeed
the sentiments OF the Albany banks and probably those of
country banks TO the webut banks in
Wall street never intend to avail themselves inequality
OF the new suspension law. Accordingly the here the
Manhattan the Phenx the National the America and
several Others are preparing to return to specie before
the meeting of Congress- much avoid the inequality of the
suspension law, prevent the country fro. flooding
the nation with irreeemable The country banks
may fatter themselves with the idea that they launch
onward and ISSUE to the full extent Of the law quantity
rags under the consolation that their bills be
payments OF debts by the city banks Let lay fat
tering JUNCTION their soul They md
make greater mistake The city banks shaping themselves
into position that will enable slip their heads out OF
the suspension law in less than months When that
takes place where will the safety fund banks belonging
party find themselves!
The whole jugge of the suspension law beginning
be understood by honest In country banks under
influence of the party deposited about
belonging to the state This large sum OF money loaned out
political partan stae nearly
nscven The whole nearly the whole is utterly
people IF Nsso York damnabe fact is
known Governor Marcy the blocklead bank commits
soners and the whole money "pary the Regency
In order to hide their rapacy avarice and vany men
had the cunning TO brighten the banks of into su
pension o; specie payments and actually make apply
10 the legislature for an indemnity law Not satisfied this
the party" i'm the Legislature completed ugge by making
Incumbent on the city banks receive country safety fund
bank bills at par in payment of debts and depose BY
unjust and ubiquitous operation the rag "pary at Albany
seek TO hide the insolvency the country banks-and the
entire worthene OF their paper money The funds of the
state are all gone-but that dealcaon they wi try cover
up too
The city banks have not however caught in the trap
They determined specie payments before the
party" shall be able to food them with their paper tie
new and important position OF the city banks Mess Gala
tin, WORTH Deafed and many other banker beginning
to their true position and they will therefore,
the project of the bank commissioners The Consequence
this Of things will be drive all the rredeemabe paper
money of the neighborhood of New this moment
Immense Hoods OF small notes are pouring from New
England south, trees are Is plenty a.
thee
med their schemes into effect whole country
would be flooded with paper currency baeess CLOUDS
heaven As the city banks ready specie
payments have doubt that those banks Boston, Phla.
depha Baltimore and elsewhere, are equally solvent
will join them in the resumption readily they did In the
SUSPENSION During the short period that has already elapsed
since the suspension took place. $ooooco of specie have
moved gradually towards the Atlantic ports In two months
all the good banks conducted properly lie able 10 resume
The flood of country banks which mere shaving
shops win be crushed We shall then have good
| banking system.
| GENERAL MARKETS
NEw YORK, May 25,h r. M-Business the rast week IA,
been extremely Inactive. Part OF the time the weather
stormy that all transactions doors very mpeded
Prices every description OF goods continually iucan
and up this day. We appearance of kind thar viii
warrant our stating time when shall stability to
market Cotton has los, all its activity rahe re-
ceding in price; and in Tobacco to say
Grain-Very srge sales auction past wcek Today
we notice sales of 5000 bushels sound wheat 1855 ao
bushels do At iis I23 222 do 10 ut Is io2 as bags
slightly damaged 80 1900 bashes rye at s2I 72 5000
do do ateS 72 l2o do do at &C. private sale grsr
Is dull Our present quotations are superior wheat 40
Las which shows decline of for Inferior 25 I3s; for
Odessa 81 for foreg rye, 70 80 Northern at 9 81 for
Southern 1c Prices generally rather on the decline
Imported into this city the past week. this day. eio
| rye; and 1855 do wheat.
Flour-The marke, heavy Some Western a, so75
also New York. We quote Southern ~ So very
little in the market Very small sales Few transactions rye
| -four, at $3.50. Prices slightly declining
Naval StocsThe market for articles under this head Il e
cesyely drowy We notice very small sales Of ture.ne
| i.37l and Of North country, at 81 Tuat I.N
Sa-we have single transaction remark in the salt
market Imported the past week. date 2les
| Liverpool and $500 bushels from Turks Island.
CoalThe only sale hear Of Is about 20 tons Liverpool
Canal, at So
Collective hear of sales of 100 bags prime green Havana
ec 81 bags Rio, damaged, 800 bags Laguira Ga
| u. The demand is limited
Sugarwe notice asae Of los boxes prime white Havana
/ lOc cssf.
Auction Sacs-2o boxes Pine Apple Cheese, % boxes
Lemon Syrup 5o 225; 30 boxes chocolate at boxes
Spanish segar at 65o hhds rum, C.; barrels New
Orleans Moasses, i sac, 10 prunes al IS
fresh Lucca OIL at a. cash; 10000 Havana segars 3.;
Is hhd ST Lucca wine, 10 sa 90 days; Smyrna box
| wood, $50, months
Receipts Of Projuceloa2 barrels aour barreis ashes and
/ head ofr cattle