The herald., 1837-04-06


BY the Express Mail Of last evening we have re-
ceived highly importana commercial intelligence roo'
New Orleans 10 the 31s2 of March, and Mobile TO the
LIST inst The commercial excitement IN those regions
is yerv great. Cotton is falling. The following are
extracts
Nrw OprxAss. March 29-The story of two weeks
ago will answer for today. Failures stoppages sus-
pensions of business and payments have now become
SO common-I might say fashlonaDie-Hat ioa'
YOU will tire your readers with rePeution Oh theIi-
This much will say, however that inngs are con-
mo to pretty pass as regards the different bank
ing institutions in this and the adjoining states
man hardly darss put Mississippi bill in his pocket
nowadays, for fear the bank will stop payment De-
fore he can possibly get It Out again. Ihe prokels,
always lowering about in times like these thicker
than ever are reapng rich harvests out OF the unor
tunate holders Of up country money-that is, IL
these institutions should prove stable which IS raiher
a difficult point 10 determine AS regards the NeW
York failures it seems that the Josephs have only
stopped payment-suspended it, rather-trom pru-
dextial n,otires and not from cOmpulSion. On, no.
1t is only one of the fashionable failures, which are
getting SO prevalent in these days OF scarcity, and
which mean nothing more nor less, when we come
to the real truth, that they do not possess money
enough to meet the extensive demands which are
constantly being made upon them, without sacri-
fcing large portions of that property which their
gr1sping 0verreachlng dispositions nave enduced heHi
to lay hold of.-Pic0yune
on the 18th were still in suspense. The Josephs de-
termned to resume payment at once, Dut were dls-
suadel from SO doing by Their friends unll information
more definite obtained from New Orleans mus
stood affairs on the 18TH The next mail will doubt
less inform us what has been the result of our advces
subsequently. Under all circumstances it becomes
the Banks TO deal gently with their debtors, and to
curtail with great discretion, If they would not rum
the community.
Money is scarce, very scarce Confidence in the
paper of neghboring states, whether payable IN New
Orleans or not is being gradually lost and the hardy
laborer looks with dstrust upon all promises to pay
This feeling however will soon pass away, if the city
institutions will act with firmness, and desire 10 sub
serve the public interests
There is but little doing in the regular business of
the city.
No sales of cetton are reported by the Board OF
Brokers. The article has declined from to of a
cent
MOBILE lst ApRIL-THE MONEY PREssURE.-Tho
call for Public Meeting of all our citizens on Satur
DAY, TO take into consideration what is 10 be done IN
the present alarming state OF affairs, Is worthy OF Sc
nous attention. Money is frghtfuly scarce and not
to be had on any account that human nature can bear
to give. Confidence has crept oil from among us
and highmnded, honorable, business men, who,
few months ago would have shuddered to have been
officially visited by Sheriff, and who could in an
hours time, borrow thousands of dollars, have now
by custom ceased feel surprise at score of visits
from an officer of writs The city is clad in gloom
Capital is locked up Suspicion stalks abroad and
fasens its deadly angs upon all who dare put faith IN
any body or any thing but the money before their
eyes, Aud men have folded their arms and are look
ing each other in the face in perfect asonlshment and
asking what is TO be done?
Mucl-much can be done. The city owes nothing
in comparison to what is owed TO her. Our mercll-
ants would be eminenty solvent could they but have
the loan of as much capital as ought alwaysto be at
their command in city whose annual trade is not
less than s25 600 600. Let then our business men
and capitalists meet and resolve stand by each 9TH
er as they kave been wont to do.