Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-09
VI ON EY VI A Il X IL II !.
Thursday,


The Meeting of the Merchants held today the Exchange
passed of with great tameness and inspidy AR Booman
was Chairman and Messrs Stuges and The
Resolutions. which offered by MIR. rerr The Sc
OF Gsodhue CO., general echo of the recent
Bank Notwithstanding the willingness Of the mercantile
body stand by the banks the and
to dscounienance all efforts draw specie impair re-
turning confidence Beyond the declaration mere gene
raj purpose aad the ecapuaion Of the
nothing developed tending dictate future policy
OF the banks One Of the resolutions speke Of gradual In
crease OF issues and the equalization inland
as the natural or expected result arising from general re-
sumption.
In private mercantile there is more candor-more
precisenes OF detai-more explanation purpose than by
any public expression Of opinion.
The mercantile boay of New York is composed OF mer-
Chants bankers sancers, forcing extensive medley OF
interests all having separate and distinct purposes On the m
ture movements Of commerce locking this mass of yar
Gus Interests almost impossible arrive at any acou
rate classification analysis OF its constituent parts The
financial elements of New York of chaos There
no sysrm-no desgnno general principle by which these
materials an be regulated. The banks-br
brokers-he different classes OF traders each and ALL move
round their orbits endesvorng preserve from e,cb stber
hs movements In the most profound mystery. The rbo.
frame OF commercial affairs ought thrown omen for ,b
examination analysis classification and action the public
mnd. Mystery the great bane OF the modern system of
finance. currency and commerce BY enyeoppg tb-se
men,s in the solitude Of few bank parors and
sumption regulate what intelligence science ought 10 bay.
full power over.
There the slightest doubt but III. hanks a. iii.
city, at this moment have the restore confidence in
mosth-to begin gentle expansion immrsi,,elva,d -
equslze the exchanges, and compel general ~
all ether banks In six montyet consequence Of The ,,
OF sysemof full knowledge detais-or master mind =
set the machinery IN motion, losing all The fs o
curtailnent of than a year. and series of
might satisfy the most rabd locofoco the country The
commercial and financial community are in srecissl ,h 80
state OF nature with regard To the principles OF the science
~ 49, "A. A.
guiar government We want financial organization Of the
banks OF New York, under the joint management af MAJ
Chants mechanics and nsncier We have the materials h.r
control and regulate all the trade and resources NJ ~
Us,on-but want the mind to organize n On ar
right principles, and 10 il in motion.
This Is the that there il so much eonact s
among our merchants and bankers This the reason h,
the movements Of trade, this menent assume 10 day
persons such opposite shades and Appearances l,r~.
portion ofour foreign aad domestic trade slowly recovsr,
lis former momentum the midst sfa general depression and
gloom still hanging those who have not vet ~
engagements OF 1885 and % Ever thing unettes in so.
circesmany ,hngs in regular others In IN. same
street developed the symptoms OF decline and the vn
prosperity That latter in time will prenondsr,,
the former deabt; process aud detail,
eexcruciating in many quarters
To-day stocks decinea-spd feeling OF anruor prsv,,-s
IN general markets life doing. Specie IL flowing from
Europe The Samson from London brings a onanty-~.
have not heard how mach The movements of Br,;,. ,
this continent will be anied with arge anorr,. r
specie Of British goods to for the hills
consequence Of these aud events spe lie TODAY ri, -
and n pc, cer We know of deposc made in sps Gle /,
Of our banks New York buk paper and specie may lie
said 10 have reached the point ef equazaen for the
first time since the suspension of May last This fact il
indication of the returning tide Of confidence in b
condition =. the banks and the value OF bank currencv IT,,
small bills increase and the rag money Of other ,
IL rapidly disappearing