Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-06

.7t4st TueedAys oePtoM0or 0s~o - Ass
Little husness done daythe election q Speaker
IN Congress yesterday having occupied every tongue md
every mind Wall filed with aaimated groups
during the whole nofnng calculating the chances for he
speakehip The futnre Of the money market DE-
ponds mach the action Of Congress- that capitalist
and every broker waiting anxousy, till development
be made Of It's aclioa rslatve the currency All sor q
hopes and fears expressed Anew days will dPel them 70
certain exieut-but the general opinion that nothing
will be done Of any special importance. s.
The position Of things in this quarter Is unaltered EACH
nan gel ing with his past engagements while new 80!
omen rising up slowly take the lead IN conmefcsl al
fairs
During the few weeks the agents Of the suspended
Americas houses Lsndon, have been endesvorng TO
collect and realize their assets in this country we Deeve
Mr.. Bates, Mr.. Melville Wilson and others have been
here and are still in the country. partner OF the house
ofth Earrings taken his departure In reasng these as
se the greatest difficulties encountered very doubt-
full whether the three American houses will col
ec per cent debts In this country Those who
owe broker houss are particular hurry reimburse
knowing very well that little hereafter is be expected from
that quarter the contrary the Browns Barng Lzsrd
Cryder viii be enabled realise large por-
ton due them. They will all be losers
less by revuo from the fact Of tsiumphanty riding
through hurricane, they will be able the tide Of
the Hood and "grow with its growth and
strengthen with its strength"
close Of 1885, the capital engaged in the American
estimated in the aggregate 100000 Oo and their
engagements 100000 Three-iouts Of engage
we're in the shape "open credits four month bills,
making in the of the year, aggregate OF $l8a00OOc
BY the evuson the open credit system has been entirely
oken up, the capital employed in the American trade
less Hereafter foregntr
will be conducted dere principles Importers here will
find dcut get credit in England than and
will, doubt healthy aspect than it has been
exhibiting for couple Of years past.
In relation banking affairs here there great deal Of
unnecessary fuss and twadde among the banks themselves
There has little excitement among these institutions
whether they shall pay per the outstanding
balances which they may each other. This is
small affair, and be easily settled
What need is there in any bank paying INTEREST," They
compel public take their notes. and will neither pay pe
Gle nor interest they each other in the fae
way, The rath is the banks acting in great confusion
disorder and probable they will continue to do till
they destroy every bit Of reputation they possess
In the mean time revolution goes slowly than
did its convulsive gasps Of April and May But while
fractures commerce. the exchanges in this state Of
confusion the crops basis Of all business in
fourshing condition probable that the wheat crops Of
this will equal 900 for this year, after being
manufactured into four OF this thirds win be required
for home balance $40 900 be export
ed coastwse ooeign ports The country banks The best
of Them may realize payments which 10 spt.
Gle payments half Of these institutions generally
believed to be entirely without any real capital
In our there great stagnatisn for the home
market South America and the West ndesare the only
casers possess Tor goods The
ylsion (which has shaken Southern States has destroyed
the market for York and New England manufacture
er there Probably caamies Of New Orleans and
that caucda dminution Of MORE
of the goods OF the North The stopping Of the
cotton New Orleans the other Southern Cities has
had therefore, peculiarly destructive reaction upon the
manufacturers OF New England.