Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-08-16
MONEY MARKET.



Tuesday, August rs, 8 r. M.
The singular elasticity OF this great commercial community
visible than II moment of general de-
preston and confession Inspe the destruction OF all conf
dencehe prosraton OF the foreign the confusion
onernal business there symptoms of health and prospe
ry that only require time and little in governmental
bring full maturity snug active retail business
the cash stcn has existed through whole on The
auction ia trade begins now 10 show signs of life and
ira sers and travellers approaching city, During the
Hast few days. these symptoms have increased The CONNER
claladvcrsng business in the HERALD doubled week
never failing evidence of good heah-for when trade is
ou' advertising Is dull Another fact of magnitude
over three hundred strangers the books
Oh The hotels during this day. and probable that we shall
nave several thousand arrivals before the week elapse
The tall trade begins earlier than usual-pary In conse
qaence oil the ery meeting OF Congress-pay because the
Revision has destroyed all the spring trade
Yet must be acknowledged that while these healthy
toms exist branches business the stock exchange and
the money market getting ter and lower The contra
ry character thes. facts natural and reasonable Real
trade founded the and produce to supply positive
demand exist in spite OF bad laws other
emergencies in the money market As the crops OF 1887 begin
be gathered will the regular trade of the whole
try rise ID and walk steadily legs The greatest
folly in the action OF Congress will deprive healthy
of good appetite, pretty OF for graceful dra-
perry Buying and selling to satisfy the active demands of hui
life will exist and widen the circle action as long as
and sons and daughters born.
On the contrary the higher order commerce. par
takes ct specuaon either in cotten in paper in
stocks IN all new experiments the of mankind
angu and droop during such conflict the
have experienced for twelve months and must yet ex
perience during the next session of congress.
BY the last accounts from England aud France trade
to be revving in both those The Bank of England
the nucleus of the the world strengthening
self every day. The following the latest statement
From, april to Aprii q.
Decrease in the circulation, G65l,0 900 $3,255000
increase IN the bullion 93l 900 4,9O50OO
we remember right additional will give the
following results TO the condition of the Bank of England
the latest dates.
May 1 1-sssss Or bullion ssSSsSSS
The contracens and euaimens Of Bank Of England
have therefore, been the last six months greater than
with U.S. Our geaea paper circulation has diminished RS
Per cent while our specie has also diminished equally if not
more On the contrary the Bank OF England has increased
her specie nearly SO while her circulation has been
reduced about 20 per cent
appears therefore, that the policy the Bank England
has been OF signal and essential advantage the commercial
health and activity Of England beginning revul
sion there hanks broke up and gene
rated by their issues blown pieces The Of private
and joint stock banks have sustained themselves
binary extent They did not in the panic of the momeRt
pend body banks did, thus involving good bad
and indifferent ia the catastrophe The
already showing themselves in English Trade
revvng-conhaence revivingand the manufacturing dis
icts viii soon be in action again. The public
that be easily understood improving yields far be-
yond the estimate Of the government
Such are the consequences of and bank
cal science Both the Bank England
may sometimes but such spectacle Of error elimination
and recrnnaten government and banks display
has been witnessed before in the history world
and probably viii not be again In this country the
elements Of prosperity greater abundance there
can exist in England. The following will explan:-
England United States
Aggregate paper circulation, Sl25OOOOOo $50
Specie 5OOO0.OOO 4oOOOO00
From this statement that cur paper
has at this moment, broader basis of specie they pos
sess Ia EnsIandyet the currency healthy
and Sabe-and eurs is deprecated, uctuang and almost
worthless This disastrous result arises from the financial
managemeno the countries When the deposite banks
undertook the sf public funds they pro-
missed better curencyno nuctuaiions-a steady rate
Of exchange and pemanency In the value money They
tempted and begued General Jackson make him
self usder these pledges.
The managers OF the Depose Banks are therefore, evil
spirits at have precpiated this country stage deep
dihonor and tue sooner they hang themselves they will
rejoicing in Heaven well occupy the places ready
for their reception in the 81 one ether place."