Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-08
M o n h u M A IL X E Il.

We are still in state of unuterable confusion fat nsipd
stupid angud, Needless without knowing coming or
whittier We going The whole trade and
country in the power of the banks the government
but instead ofcalmy surveying the ruins and endeavorng
reconstruct the edfce be the delight of parties
to "nake confusion conounded.,
In this city and State ue banks slowly and with difficult
~ shaping themselves and distinct
are endeavorng to return specie
failing in order to that posonand large proportion
are TO launch into opaper money The Brook
Ign bank and believe the Long Island have
sumed specie payments and thus begun may,
encouraged by the moral sense Of the country wipe away
the national degradation and disgrace by the general
suspension of specie payments before world In this city
ishighly probably that the curang actuaed by
secret resolution to possible In Albany and
throughout the State the Safety and the nancery
connected with the State very anxocs only
Tor large issue of redeemabe paper but DESTROYS that
the President should recommend Congress Trea-
sury notes.
probable that an opposition will be made Treasury
notes by portion Of the mercantile interest," but doubt
whether ucha measure is the best only one that
can retrieve the country from is present
the exchanges or put us legs again before world
Treasury notes. bearing interest," would certainly pree-
Die currency to redeemabe paper money issued by 600
banks one half Of which knows any thing about
One OF the many difficulties pressing moment uponour
money market the preparation making 10 pay off the third
nstalment of the Surplus Revenue to oan under the
State law the two last portions estate every
county Ofts latter about s2oooo are TO be loaned on
landed securities and probable that all land SPECTATORS
connected with the party in will be preferred To any
merchant or independent citizen Part the surplus
will be merely nominal transfer but both these oner,,.,n.
bear heavily paper money market and compel the
banks TO curai and contract These instruments are
in specie but tits not probable that all states will make The
denandn COIN They may be TO take such paper !,
they can get
In Boston the money market appears be easy and cmfra
bic The regular publicity given the operations Of the Boston
banks and their cautious conduct speak highly their su
management and the general system which they proceed
In this city and state, neither Wall street banks nor ~,
Bank Commissioner the have made any
publication since the suspension showing their condop
euaton out-he specie hand 10Th OF saythc .pee
on hand the general policy they mean 10
sue these institutions here and throughout state intend
To act honestly towards the community they ought To show
their actual condition. and stroud themselves in mystery
and darkness publication has Leen made OF the internal
condition Of the United States Bank which shows clearly h
of action that institution has adopted since the sucn
soa took place, and from this We far that establish
men' connected with commercial affairs the germ Of the -
tre and the probable course OF action time 10 come
far form an opinion the hanks are r.,siyw
losing public confidence by ihermysteous the con-
nua Earrings Of the different interests The violent poca,
action INDUCED IN by both parties The chickering's caused Sv
the politicians since the year 1884, have gradually Slapped the
confidence towards the banks ill they were precpi,a and
voluntarily and hlessy stopped specie payments This de-
p1oabe conclusion In the monetary affairs OF great nation il
the Joint production Of both parties the present condition
Of our banking elevated course Of action on the
part OF The banks, and the separation Of all oney
mens rom te action Of political parties might Ne possible
"evse plan by which the banks could few month";
70 specie payments acquire their former public confidence and
reconstruct the whole frame OF credit But this appears
cannot De done What win be the consequence An entire
prosra'ion OF all confidence the present banking ysema
gradual dscred Of all bank paper moneyand the
sudden return Of the community pure metallic currency
rapidly a. possible One party prevents the United States
Bank from doing any oodsnd to reiaise the United States
Bank throws shackles upon the Safety Fund brood.
Thus GO Specie yesterday in considerable demand
fer shipment today for Europe In the early part Of the day
paper money declined and specie soveregns sod for
S5s7l in city paper currency. found however
that the supply was than eqna demand and tho
value paper appreciated considerable amount OF bullion
will 10 out by packet but not much as usual Man
haitian post notes sold per centIned states AZ The
same priceMorrs Canal bonds 10 per cent per month
This is the company Of which John Haggerty director
Things suspicious said Of Morris Canal ana am e,nL
sioois expected In process Of time
An extraordinary state OF excitement exists In relation 10 tho
Long Island Rail Road Company, which we shall explain TO-
msrrow. John Delafeld has finger In the pie.
GENERAL MARKETS
NEw yoRx, June nh, r. M-0peratons today ~erc .,o, -
So busine. generally looks better the wrong ~..
Of the year. to have Judgment markets. warm v.,sh~
puts stopper on every thing.