Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-05


s.sauaiiy getting back to sober and rational
'nss Inc process excrucstng necessary. makes
~ ssenments lose their several good tempers, a the
same time ha they lose their property and their credit But
~ ui''es iose their wits, and launch POLITICAL
financial or commercial pecuaons they mnst xpect 10 lose
something else before the game i closed
events Oh ia week. both foreign domestic develope
more and more the course of the future We have had
from Europe and from the East Indies Win ho,, ~ ,.,
countries we are deeply and intimately connected conme
cial point of view
by the arrivals from England there decided SYMPTOM that
the terrible revulsion will be principally confined 10 the amr
can foreign trade throughout the world The return from
England supposedto only $500 or eraouts
About onehalf OF this EooOO sterling are said ia
be the bills OF Thomas Biddle Co. of Philadelphia drawn
against American State and Fancy Stocks which il
day getting worse and worse in the English market terrible
Revision is yet expected take place in Europe cur
rent value OF American securities The suspension specie
payments here and the insolvency of the State
WIN entirely destroy the credit such securities Europe
hose exchange houses therefore, which have been doing
suness on the basis of American bank or fancy
cue will suffer severely, probably up altogether
ms species of foreign exchange will disastrous
a u'a Drawn against cotton. The fall in bank and fancy
STOCKS at least 20 greater than that To
tins extent viii it affect this class exchange.
Inc ouon exchange houses such the Browns Co will
alone come out OF the storm with reputation dit and
peralve energy They will lose indeed will not
revusion but from the very fact of their meeting
in proper disposition, and proper principles they will
hereafter ENJOY monopoly of commercial honor, sagacy
| ana integrity
is now generally suppoedtat greater bulk of the cot
ton and stock bills OF exchange that back
already received After the bond Of the U. s.
BANK few bills were sent TO England in payment Of debts
From that period the 10th u when the suspension
place. our remttances generally large lots of bankruptcy
by each packet probably the of fire millions
easi We have to learn how this species
received in England and whether served qudate the
claims OF our foreign creditors Like the famous
made by f. r. Blair the u s. Bank Kentucky 1920
our remtiances of 500 bankruptcies for 1887 probably
squared off certain portion ofthe foreign debt so,
are indebted to the Kitchen Cabinet for the invention Of this
useful species of exchange.
Such is the foreign France and
England There is however, another branch Of foreign
trade which will not into reaction for few months
when it does come it will have equal difficulties with that
have been analysing We alude the trade generally
China and the East Indies The foreign dry goods trade is
nearly through its terrible vbraonhe China and trade
yet begun In the Wall Report of the Chronicle
Saturday evening there statement made this SUBJ
jec the authority of correspondent Canton dated 18th
of February last According the treasury report pub
published find the following be the operations OF the
trad -