Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-11-24
M . 81 M A II Il IL IT.
Thursday. Nov. 23, G II. M.

MON 81; M A II EFT.
Thursday. Nov. 90. II. M.
The inactivity OF the markets continue Stocks are dull and
few transactions taking place. Nothing time and a long
slice oft will mend the stock market place its for
mer position.
In the specie market tendency downward This arises
partly from the general operations liquidation the anti,
cpatons formed of the of the Bank
Convention There rot great demand for it, either the
banks, for and its arrival here
tends deFre the price and 10 hasten its 10
the paper currency Yesterday sl34o5 in the Mar
settles from Carihagena Since the suspension large
received from America in payment OF
debts and for the purchase of goods 1t estimated since
May less than 900 have our ports
from South America and the West Indies There no want
OF specie for all the purposes Of resumption pro-
vded little confidence could be created.
Foreign exchange drags heavily II opened Yesterday at
14i lis, but few buyers The Morris Canal Company is
generally that foreign exchange fall The regular i'm
port OF specie and the fall in the price in the south
both unite ID produce such belief The fall at the
opening of the will the Eng
land demand article among the british ma
nucturers This win hasten shipments low prices and
thus produce fall in the exchanges by keeping the supply
bills here fully beyond the demand. For years past
the British manufacturers have begun the high
prices and thus losers close This now re-
versed, and the effect Of fall in The foreign exchange the
natural result
Bat in addition this element producing such result We
have the growing imports Of specie, which operates the
direction, ard helps give force natural tenden-
ccs towards fall fall in the Greign exchanges nav
therefore, be very naturally expected.
In domestic exchanges there very lit alteration during
the last few days. Bank checks the southern este
and western towns, at the old prices saw several
transactions yesterday in bills OF exchange Georgia and NJ
Orleans than usual atesbut they consisted of private
bills on time Some Geo ga due in De cember sold al per
cent and others New Orleans, the same time ca
to cent nereo of. These are to q DER cent
higher than bank checks
The general courseOf things sluggish. The bank Con-
inn is ha0ip min "a.
cers Questions put in all directions" What will he
done p" what can be done " whs will give The tone ,
where there man of inlueBce Before the
regime Of the Safety Fund.- there intelligent bankers in
Wall whose practical knowledge great sagacy and
public spirit created and caused general in their
suggestions In the Of Lynde Catn and Charles Wilkes
our banks were managed with csnsumate ski
Buof late years have come into
the field, TO whsse rashne, expeme want of real
knowledge well attribute late disasters Who are
leading hnanciers in this day Albert Gaatn Robert
White c. W. Lawrence George Newbod, job Fleming q.
A. WORTH Preserved Fish, kc &c Yet among there
a single man. equal Biddle Of Philadelphia in capa.
city Influence, in power in talent general knowledge
in practical experience.
The various banks OF city, of state Of country are
supposed be many isolated institutions possessing no
particular connection with each other moving ONE
as seh This is great and fatal Banks any
number size only OF the general system
basis Of which is confidence and good gement con-
he OF difference cvi number OF banks
against their exsteHce-their prosperity The
the basks relative the possession
produced the deplorable effects which they
recovered ean-neither the peculiar OF
chaeror the general forms OF number charters Of
much consequence the sku banks null
tude Of conflicting minds, among the banks of any
difficulty than Any other kind Of disaster In
Phadepha there principal intelligent mind apablc
Of graspng the whole details Of the system, upernend,
drea and give energy and effect TO their financial
We have Nicholas Bd5e in New York We have mate
ra make this city the great the
OF the Union but where the mind with cabe enough in Wall
street TO create and through such SYSTEM Mr. Gala
tin Is fine theors-can pen admirable report-spec uate
as much few facts any do but he
perence practical knowledge and general
the commercial concerns Of the nation Mr. White Of the WASH
ington Bank Of mind only looking spe.
cs interests Of his Institution and utterly regardless the
general concerns Of the currency be conducted Mr.
Lawrence amable Mr.. Newbold-M Risk is
also very amable- so is Mr.. Fleming hut they mind
insIeci,grasp OF mind. reach or intellect There
that stand in the shoes Of Mr. Cstn except be
WORTH the only banker touc hing the de-
In the Bank Convention curou, Developments will
be made. The Philadelphia and Baltimore delegates will
into that body taking with them all the profound views
and principles which Mr. Bdde has brought
tury during his long experience In the United Bank
What the creation OF general system OF
finance, with its in New York. is circumference every
where. Can Wall francie devise such system
Let us
Sales nj the stock Exchange.
NOVEMBER %, IAN.