Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-07-06
N % N n Y M A Il X K r.
Thursday, July O..

InursOoy, July D.
Having got through holidays we now make
the tack till reach the meeting OF Con-
gre which takes place the LIST OF September The deep
importance Of the monetary questions the country
win fix upon Wall street the OF the whole Even
politics into the currency quetonand
into politics will be purpose 10 diyest all the iove-
OF the market of political garments and exh
biz them in their true form and pressure We look upon
and the currency science and
mathematical deduction Our hitherto commanded
the attention and appreciation the country because for the
first time, has daily report money been given in
whch pohtcal feelings, speculative motives had no share
Yesterday we had couple days later intelligence from
England There additional arrival IN Liverpool, from
we" YORK. and OF OF specie payments
was not known these dates But the London money market
appears easy and the Of matters connected with the
American houses and better than we had anc
pated.
The interesting home and within the pre-
cincts of Wall street.
Stocks yesterday ned their ground firmly. United
States shares, dividend oil, went up per cent compared
with previous The dividend declared by the United
States per centpayable here at least their
paper al nominal rates. This dividend, and its ccun
stances great deal of remark Many
policy OF bank making any dividend all considering
their suspension sufficient delay such thing Others
again dissatisfied with the payment ofhe dividend paper
money, its nominal value We disposed TO think that the
foreign holders will be paid specie, equivalents and
is manesty unjust TO pay the American holders in paper
money, unless the bank intends Immediately.
We confess cannot the policy the morale OF Mr..
Bddes declaring dividend per cent and the paying
Of that amount il his paper The belief generally
entertained that he will be able specie payments
about the first OF August As this is DONE stated
that the Grard and the Western Banks OF Philadelphia
both depo-e banks win have their charters forfeited by Co
Rner who by law holds the sole power in his hands,
The resumption specie payments by the United States Bank
will therefore, be terrible blow OF the government
banks Yet if Mr. Bdde had paid his dividend in specie
would have commanded the decided support Of public
opinion
stated that the Surplus Fund the United States Bank
100000 and the for the last six months
S6750eo This may be all very in figures and pro
msebut how much of real. What would the OF
the surplus fund realize! the profits of the half year. II
useless for the United States Ba,k attempt the
world 1t has been better managed, doubt than other
bank country but if esses during the revuon
its whole surplus fund, may be thankful Our
belief is that it will take five hard work to bring
its losses while Safety Fund Banks would require fifty
years, all the roguery of Albany, the
grouAd
Mr. Biddle, however has his difficulties and
but he manage them better than the Safety Fund
state, by whom operation just per-
formed in the payment Of certain canal stocks worthy the
miserable shavers in Wall street We will explain On
the LIST instant the following portions Of the Erie and Cham
plain canal debt and interest thereon became due
July ], lss7-Five per cent stocks, s6t5S57 so
Interest on tive remainder, iscosc 90
In order to be prepared f<ss> ssoa, of
wheh ished Europe, Fagg, comptroller, gave
the banks that he would require cent In bull
lion the aggregate amount OF the Canal Funds which IN
September 1885, was $4O66,S53 This would give hin only
100000 pay off the whole about onetrd of the
funds quidate the stocks redeemae incn-
ding the interest on the past and present.
To effect this payment without pressing the banks who in
Justice bound he always ready the Manhattan
Bank and other banks directed pay the interest,
amounting sl5oOao less, ia specie their own bills al
nine per discount At this time the average discount
city paper the very Lowest per centand probably
eleven per Accorgy the interest paid the
choice cr suckhsler hes NJ Specie, city paper,
por discount This payment in fact, is done to esta
hsh The whole but Die great bulk Of the scSs oil
the Five and Six stocks OF 1887 cannot and VIII not he
paid in Specie They rorc receive their payments
city edeemabe paper at nine cent discount or
be compelled receive the state stock which auhor
zed by Legislature ny this process will be perceived
Flagg shrewd comptroller shaves the holders of
these stocks difference between nine per cent dis
count and eleven per cent which latter the market pse Of
paper money in Thk difference win
million to S2oo,ooc-and the whole debt redeemed to
ssoo,eoe
BY this operation will be- how the Safety Fund ire
esabe paper enables the state To cheat the leaders
OF capnal property, the Of sooooo
single blow We admit, however, that Mr. Flagg has
exhibited conscience th. rich and wealthy than the
banks done the holders OF their paper
The ormer only OF per cent 600
manages no his dividends though he may his future
movements
The elimination Of the public revenue goes on apacs The
reevps May, by the secretary Of the Teasu
RVS report, 81 1884, and the expenditures S2l
making efciescy 1858 Iia much for the foreign trade
and the public lands.
GENERAL MARKETS.
New YokK July 9Th, r. M-Trade today was very dull II
has not yet from the beavne occasoned by the
Of the fourth Of Juyby Friday or saturday how
ever business will look little brighter bat need not expect
much al this Of year. and in the present state Of al
fairs The only have notice that Of about 100
bushels rye 10 74 cash. The -four market reHan as we
last repor,ed-recepis continue light as they have been
throughout the spring The quantity Of produce this season
does no, amount To more third OF the amount received
last year mp this time.
Receipts Of Producel07 barrels of Hour 10 do provons
10 do ashes, l6 tubs butter.
HAvAsa June ZThere have been several arrivals lately
from Charleston with Rice and the article has declined IN
pricepresent quotations II l2s rs the former price
the Of the Pegasus and Deposit were sold and ut the