Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-15
n ONE MAR X Il r.

MONEY n n X TT.
fhursday, june Is.
The operations the stock market in big Wall street. furnish
as correct ncsons Of the condition movements OF
money MARKET the transactions of faro banks in sae
Wall street The stock market merely paper machine,
without any noence effect real business Rail Reads
e rmbu bank stocks are getting and
into diculy. The United States Bank holding its head
although II generally believed very insolvent
and bad condition, in spite Of all putting and Sosering
Of certain cIiqses Of spectators newspapers
The state OF the money market indicated by the trans
actions ofthe baon brokers' such friends T. g. Cape
ter, Wood Bosar, and Bebee Co.
During the last few days money has gradually depre
caed and yesterday City quoted at 10 to IL per cent
dseounSafety Fund.- II 10 l5-esse IA to l6-and south
IS rs discount from the legal standard Avery
remarkable business growing up from the constantly
dePeciang character OF paper money also inquired
creates the demand for pecie Probably the supply for
Europe ia FOR the present. nearly close. The banks and
private individuals actually coming into the MARKET and
purchasing specie boarding other purposes We learn
authority several quarters that the banks pur
chasing specie through their private brokers' exchange
their own bills The business OF discounting very uch d.
mnised lae and the paper money hand increasing
Al the Merchants Bank, the last discount day. only four
small notes offered for discount in addition the
reaewas
These mspece, of remarkable
Before the sailing of the packets that
demand for bullion should increasebu the demand widen
ing and increasing all the time The explanation therefore,
cansot be found altogether in the foreign demand II
spring from other growing of the condition Of
banks and the opinions their managers Of the future.
The general impression that the banking system will
get ard deranged-and that the suspension law
stead of being benefit will be The par.
pose of the bokheads who framed that unconstitutional law
was to make the safety fund notes at and therefore,
cevabe all Over the By this MEANS supposed the
internal exchanges Of this would least be preserved
from utter proaon From these exchanges
than the great southern exchanges The effects
the arrangement developing themselves day. Money
cannot be RENTED from Buffalo New York. from
part Of the state TO the other but by special messengers There
is syse-no sympath mo mode Of ansactng such
through the broken banks
The belief therefore, the fnancers Wall that
Congress alsne competent regulate the exchangesand
that all business will be deranged before body in
September, compel them 70 act with and
promptitude This belief is however, coupled with another
impression that the OF the bank will be able pay
the depoors and the bhoer and that twohirds of
the stock will wind up complete bubble This impression
the fall in bank stock Its impression with
out At this the banks principally
gagged in renewing paper, and canceng engagements
The protested in their possession and called available
securities, probably equal fire millions least
Now this in continued arrangement the currency
will not pay ten cents on the dollars in the end.
Another point bears heavily broken banks
the power Of any the banks their AMI
compel them pay the specie have their property le
We'd upon The suspension law does prohibit the usual
legal remedy Of debtor creditor. During the last
pension of specie payments the banks nsolent and
bearing they citizen brought action against
the Mechanics Bank for $o0 recovered in due process Of
law the sheriff walked the vaults Of the bank seized upon
the specie the Of $6OOo0 and walked of with the
property Every broken bank Wall street liable TO be pro-
secuted and recovered OF in this What prevent
the depeso and holders or. doing sonow! The conduct
OF the banks and the commissioners becoming outrageous BY
the suspension law the Bank Commissioners directed
publish statements Of the condition and circulation or the banks
yet these hhess, foolish functonares have perform
ed their duty
Such being the condition Of the broken banks,
however, be supposed that the country gone the devil
This Is wonderful landand the present revuon cansedby
miserable politicians and miserable bankers will
year. In this city the retail and cash trade
good particularly In seasonae goods and groceries
From harm that e prospects
never better The approaching and fail bids fair
make up all the loses OF the revision All want
uona exchange system transmit funds end the
oousIry The other and for this purpose time for the peo
PHI TO begin to teach congress IL duty.
Yesterday we pettcoats pctcoats very pretty
p@coais In Wall street than did 10 day for
years WHATS the moeri Il that coming