Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-06-18


don papers to have steamed ~ miles IN one ncsi asJ
r before.
The following are the three first letters, which we
publish, from Mr. Bennett. They embrace variety
or topics and were all written the day before the
Western sailed, at different hours OF the day.
IThe very lates, by the Great westerr.l
Lospos lst June, 1885, W
Seven o'clock, p. N. !
write this from the North and South American
Coffee House, the great centre OF all the monetary
and commercial intelligence in London.
No event Of any magnitude has taken place, be-
yond what have already given IN my other letters
American securities drag very heavily along, even IN
spite of the great plentness Of money. In the eve
ming papers of this day. which send you, will be
found the quotations. From several quarters, great
efforts are making against the character Of
rites.
have further learned that only two of the Amer-
can suspended houses have yet declared dividends.
have already mentioned Virgins, As. per pound-and
now add Grant & Co., who have declared los. Yet
the Bank Of England gives ost that the houses which
they took hold of are proceeding very well in the
process Of realization. In spite OF this assurance, it
is generally believed that the old houses that suffered
in 1887, will recover slowly. The greatest antcipa
tons are formed of the new trade, constructed on
new principles.
have every reasen TO believe that the operations
here in American State Securities will in year or
two, begin to rival those of any other kind. Hereto
FORE we in the United States have taken too little
pains to describe and make public the nature and
character of our public resources. With correct
daily report and exposition of state resources the
capitalists of Europe would soon lie convinced of the
superior character of our stocks and have doubt
in the natural progress of events, something of the
kind will spring up in short time
Some fears are beginning to be entertained here OF
the next crops If such fears should be warranted
by coming facts the money market and exchanges
will be affected more than any would believe. n
the present state of the elements of industry on this
side, would advise all the energies of the United
States to be directed the development Of their ag
rcultural and mineral wealth. Without more atten-
ton to the cultivation Of our SOIL the money expend-
cd on canals and rail roads will be rendered inefficient
We expect for some weeks here season of quiet in
the American trade until the effect of the recent
poration of specie seen on the currency CT the other
side.
Every day hear complaints against Mr.. Biddle
for engaging in the cotton trade. have endeavor-
ed to explain his position well as possible, by re-
minding them that his connection with the cotton
trade was contingency growing out of his dsposi-
ton of the branch banks south and south west, on
the expiration of the old charter. The banks to
which he sold his branches, were compelled 10 60
into the market in 1887 in order bring the crops to
Europe-and the United States Bank had to receive
these consgnmsnts through their agents al Liverpool
in order 10 realize their asscts 1t very EVIDENT
however, that the mercantile bsdy here will not
brook long the operations of any banking institution
in the cotton market and every one expects Mr..
Biddle to withdraw after the present season.
NV next letters will be written up to the 9th inst,
and sent by the Liverpool packet shall have col
lected large Of monetary and commercial in
formation by that time-te say nothing of fashiona-
bic. NV opportunities and facilities increase every
day. Iadeed, am astenished myself at the success
have met with in finding out the exact and true state
Of affairs.
LoNpoN LIST June, 1888.
l mean TO make this general rambling letter,
speaking and writing whatever comes uPpernost,
whether il be prayer for the lovely and graceful
fair ones have left behind, a maledlcon for the
rascals which every country holds within its bosom
In another epistIc, which you will please TO publish
first, / have given my beloved American readers my
first impressions Of the great money market of the
world For the mere details, prices quotations. &c,
refer YOU to the files Of all the London journals sent
you.
Ny dear fellows and fellow aborers in the field Of
intellect have seen your labors for week after
my departure. You manage matters very welfare
markably WE'LL Go on as yeu have beeun--we must
make the New York Herald the greatest paper on the
Americas continent We can do t-and we shall do
it, never knew its wide and extended influence ill
reached London. / feel prouder than ever Of the
Herald and my whole life shall be devoted TO the i'm
prevement Of the press in our happy, excable ina
ginative land.
/ have received the seven locks of fair hair which
were sent me- ] shall treasure them as my soS
which hope is destined in this werld TO make SEINE
gentle being happy and 10 sing psalms hereafter for
all eternity.
L have received great attention from the gentlemen
of tho press here. They seem all know me. Yes
terday received card TO attend the public dinner Of
the Newspaper Press Association, accompanied with
polite note, inviring me a. guest and "ss nem-
Der Of the Americas Press" have been very al
tentye in cultvaing the acquaintance of the gentle
men of the press. They form highly important bo-
DIV here and such az have seen are very anxious to
know the condition, prospects,, and system Of the
American newspaper press. shall not fail 10 open
an avenue Of acquaintance between the Lsndon and