Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-03
NJ o N T. Y MA IL * + T..

After week sfdeprcssion agitation confu-
sion-uncertany IN the banks large exports specie
money market yesterday opened with good deal Of life and
animation Stocks several per and the feeling
decidedly better Ia the early part morning packet
with accounts days ater-to the 18th uwas
ced coming up the harbor This produced great
sensation in the public mind and suspended for time
ratons ill known exactly what the import Of news
Fortunately il favorable The OF the M
Of the Josephs with the operations United States
Bank, appear to have reached England almost
ousy. To this latter circumstance indebted for
the favorable appearance The English money market as
far heard from. The efforts Of the United 10
relieve the money market in this country organize
foreign exchanges by the issue of post and bonds
ry much approved in the London Liverpool mats of COM
The general effect Of these operations produce
a slight advance in the price Of cotton.
Yet will be recolleced that last dates in England
they had not heard Of condition in this country
wards the middle Of April and the 10Th May the
banks suspended specie payments reached the deepest
point of depression Our from England month 10
come wi therefore, deal piece by piece the
OF the general arrangements in this country the
trade In England
From the general appearance things there we are dpo
sed to leeve that greatest disasters will affect the En-
giish market so deeply had anticipated The
connections Of England ws the connent-with Inda-wh
the Mederraneanwith all the world commerce
with the United States windle point resources
therefore, in the day calamity greater thar ours
The destruction of the whole American trade would doubt
be disastrous TO English cemmcrce-but are disposed 10
think viii not arrangement there approx
natiop such OF things Whatever may the uti-
mate fate Of the American houses The Bank Of England
the general commerce of that country will be slightly
ecte by the terrible intensity Of revuon. We will have
to bear msortuues without receiving the sympathy OF
those reduced TO the dilemma
On the whole the from England, though definite or
precise, quite favorable encouraging.
Such being the Of the caseand such the prospect
future highly probable that favorable feeling will gene
country the resumption Of busincss-and
The nj fresh
That individuals and particular classes will suffer
severely by Of bills doubtbut Anne
rcan trade Engand Ear from being entirely destroy
ed In jeopardy. The infusion fresh confidence
among cursclve-s moderation in the Of government
abandonment Of political reaction for
quiet pursuits Of commerce. will 20 10 reconstruct
commercial affairs and favorable conduct for
the future.
The bankn this city, suspensn have remained
in Of inactivity; II any thing, pursued the policy OF
curanen This conduct has been cenured by many-bnt
the character of the very doubtful In the state
OF the commercial relations between England and the United
States the policy Of the banks decidedly guard them
selves all points Many believed that suspension was 10
be the signal for fresh aud additional OF paper sucha
policy would only tended further throw them into
difficulties The banks Of New York, at least ihe leading
wisely chose remain in firm sndnpregnaole position
They have been solicited and threatened tor the pu
pose creating fresh issues and OF hoodng ue community
again with paper medium calculated 10 increase Prices an"
stimulate SPECTATORS They have refused ana propeyso
This policy banks have also aoopeo ana sedn
Iousy pursued The solvent banks In Phadepha and Bait
more have also adopted like course The Boston banks
appear have,o Of their specie according 70 s"
weekly statements which, much 70 their cren tney ss
,,,, ~ ,er,,v Our banks here have, suspect, scsa
large norton Of their specie since the sspensiopand there
fore i ,b , reason con6ne their issues to moderss'cn
than even the banks IN the present state 2. 'has
hss not representation Of property The basis
0 , ,ss,es Is paper great portion Of which
ra mere OF book debts or country coss'er
20, ner the last Of which only qudated by the pro-