Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-19

Inc disturbance created by the Phenx ank
increases ana wdens Fears beginning be
"msnR capitalists that this business will unsette the move
ment oil money affairs during the present season
The Phenx Bank In the years 1886 Sc and n
asyem OF internal exchange very high and very
10 DC sure ont SIN better than the ,hon
pronounce TINS system usurious Illegal and sufficient to cause
repeal Of their charter then hardly bank in Wall street
can retain Its privileges The Board Trade c,mposed
principally Of highly respectable merchants In the Dry Good.
ne prosecute this investigation with deliberate
akns away the charter Of the Bank without lookn, 10
e such movement the present state OF public
epin'on whchs smbttered much against nil bapLs n
one bank for such stop short OF
dozen for similar causes
In consequence of these and ohe and ..
stocks declined agas Saturday and the Of the
week the depreciation has been very considerable
ing that at this season OF the year. recent ayov
ais OF the banks better times believed 10 have
many also begin TO fear that the investigate and further de-
bate In Albany, will prevent the resumption OF specie
meats or at least delay the expansions which banks were
expected to begin about this time The Dry Goods trade bo
are principally the Of the banks may carry matters
little 100 TAR Tor their own benefit We say this with perfec
kindness but IN perfect freedom beyond the mower
or control OF both banks and Board OF Trade.
During the last few days. inland exchange on the souh and
southwest has dc preciated discount rising and
per beyond former rates Phs IL In mar, ,trh,.J -
the Investigation Ii the banks prohibited from dealing in
inland exchange In consequence Of usury the business win
the hands OF individuals WHO responsibility "a
Another for the depreciation OF southern ercba,.
sth conduct Of thu southern banks II is thai h
southern banks have purchased during the season N la,.
100000 baess cotton, and shipped then, 20 the Atlantic ana
the ports The United States Bank lead the av
In this business nd probably has purchased for foreign a
count 100000 bales. The aggregate aaad as follows :,
Date Rsrls R.,s, D.. r.,
Harch-Purchssed by u r. Bank 500 ooo 10 cts ~ sso o
do. Southern banks, 100000, do. 1ose 600
s5oeoeoo
The proceeds Of the purchases made by the si,.d states
Bank the basis Of all the and foreign exchange
rson Of th,t institution The uncanceed mites Of the s
bank were made the medium psymept The other
and south western banks particularly OF Alabama Mis-
sssppi and Tennessee purchased their cotton in their ow
paper which now flooding the Atlantic states ut deprecs
tenof to 20 Their cheeks aud certificates
site are also equally deprecated This depreciation grow.
out ofbe current Of trade large amount por
goods Asiong the Suspension Of specie paw
'p's "'' neee no node Of compelling these bsnkst
correct the depreciation equaze the exchange Every
effort Of New York and New 10 brisg ,heu,
TOMS aytedby the opposite eopduc OF Bal.
iimore, and the southwestern banks
It's also surm'ed that the south western banks may employ
agents 10 buy the which the us =, mar
IL cotton shaving their own planter, !. the
eSen, OF 10 tn 20 per cent by operation Every thing looks
disturbed head.
Foreign eSchssge fell yesterday to 1861 on Engsnd and
was that price The quantity market Is large, and
the BUYERS very chary The southern bin, are flowing into
New York In great abundance.
petition for large state Bank capital sscsooooo Is
CIRCULATION among the merchants This movement Is also
coupled with the repeal OF the restraining law large bank
on large Ne useful but present institutions
have the means and ability OF increasing their circulation
ssaeoooo and their dscouns Gle oseooo In three months
confidence could restored and brought back
nottbe creation OF banks that will help usa ne Of
confidence. Thnk Of that ye bloekheads!
sales NJ the stock Exchange.