The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-05-16
n o NEY MAR x = II.
Tuesday, May 10.

Tuesday, May 10.
re still in state anarchy In relation to exchange pa
~ n rency and all large commercial operations The treas
Is Ter received Saturday by the collector TO demand
or all government dues has been suspended for the pre-
@ Yesterday generally at the treasury banks city paper
was received, under the belief that the government VIII
w az TO emergency and legalze the transaction here
The attempt of single paper in Wall street TO get up
ement on this point has signaly failed II called
in the Exchange but none-no not one OF the respect
sh excited merchants of this city obeyedhe prepoefous
Mr.. Price, the U. s District Attorney, has written
W and able letter to Washington, explanatory OF e su"
'o things here and showing necessity OF renquss
specie order till the Treasury Banks in Wall street be
a e resume specie payment
aif Price deserves well of the commercial community o'
a. bearance good sense Goodness In the present eSca
alt condition of things
10 loub exists of the imperative duty OF te 10
DON I'd specie-but matter OF policy, we shouia tk the
e. lent would relax as far as his duty ana oa o once VIII
p During this and next month"; the amount oil bonds due at
e ,sto House fully $25000O0 While the Treasury banks
continue suspend specie payments, the govern
n ought indulge the merchants in like suspension Not
uch a course is legal absolutely right-bu is neediu
III necessary-it is wise in such condition OF affairs
sov find ourselves in.
rne specie circular the Post Office different affair The
a., there small and may easily be carried into e
feet Weear, therefore, that the postmaster receives nothing
pece for letters This proper enough, under the cir
tance~.
The general government bankrupt-the governments
II banhruptal the banks bankrupt-a large portion
mercantile world is bankrupt-in fact, solvent
N these dro times but the locofocos whose property capital
and specie consist in the labor that springs from
hard fists and harder head AL therefore, have been
ding borrowed capital except the ocoocos who have been
doing very prudent business and into specuatons for
cert lin reasons unnecessary mention.
Socks yesterday again from to per cent
We adhere the opinion already expressed, that this
re gives real indication of the money market.
There is little cooperation among the banks
evy one is now driving along his hook The Man.
lS px,fs III ia
fhomore positively asserted that viii specie pay
IS per tas ant nefas in twenty days
Accounts from Philadelphia state that Mr. Biddle preparing
mother letter on the recent suspension and the project for
r.mpon early day. Ii the United States Bank the
general government, and the banks in Wall would only
together like three reasonable men, willing properly
could restore specie payments In week Hthey do not
olics actuate them-f politicians be permitted rule-
prints the Courier and Enquirer have any influence
will venture say that the whole banking system is
ed forever There among the great body of the people,
eater aper towards the banks than towards the govern
rom Albany, have all kinds of Until the
81 egalng suspension carried into law it is impossible
redc the consequences to know exact position
re proposition make all Safety Fund Bills receivable
the par Ifhi should be incorporated into the
law il will shut solvent institution, andleave only
se rotten banks standing, memorials Of legislative wisdom
~ country members is said in favor of such change.
course may ascried their hostility the city banks,
consciousness that their banks utterly worthless
Td force into operation, all the banks in the state
would shut up This event would bring about new and
m aornary of things Some predict terrible conse-
ri, nces--others the reverse.
ii the meantime cash trade of the city lively, spite of
Il general explosion of the banks Specie prodig ousy
nant II per cent premium on city paper We hear
Il; the Delaware and Hudson sung its paper quite readily
brokers selling at 10 to Is per cent
for specie We would advise all persons to be chary
delaware and Hudson bills Dry Dock bills dcredited
1rey banks 1t is said that in the packet that sails
about 100000 in specie viii to Liverpool The
ted States Bank and foreign bill drawers sending
specie abroad meet their engagements in
there This together with the of the eg
e make specie vary much from city paper The convul
81, in the money market has entirely end usury
specie crcn;a, usury has repealed ITSELF
following the prices oimoney yesterday in city bank
BILL:
American Silver, to per cent premium.
Do. Gold, To do. do.
English Soveregns $3.50 to $40
Safety Fund Bank Bills per discount few sales.
New England do. do. | to do. do. few sales
Dry Dock, discredcd entirely.
Delaware and Hudson, ticklish concern
All other bank bills, mere oafcrs in the street.