Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-04-18

VIC arc In new position Every fresh event in mo.etsrv
and commercial affairs Indicates thai have reached the
turning point and doubled the cape The exceme,, /, N
street high Further facts rapidly coming out favorable
to the counter revolution.
BY private letters received through the last packets ~
learn that Mr. Jaudon had intended in the latter por,ion of
Fesuary or beginning Of March, to remit In several vessels
oooooo sterling, ~ 5eoOo0 small portion of this amount
mas been already received by a wall street Cempsnv
PROBABLY Slooess-the follow due time This import
re- arises from orders given by the Uaited States
so ha Mr. Bddle will be in strong position TO meet
return OF confidence and cash payments any of
MS rivals In finance, both sides Atlantic The rdicn
ious caprap stuck the iron ratings Wall street. an.
nouncing In our thuRder" the arrival Of specie was
moae oil turning the expenditures the British
ana the movements Of the Barings good account in Wall
street.
The suaton Of financial affairs in This ceuprv and the
the present are not nv the .i,
usted ana are moreover concealed by those who know
Let US t the VEIL Let us show whom the present great
revelation in monetary affairs isowiny
The Revision OF last spring. and general suspension of
specie payments threw all relations foreign
and domestic into nexcabe uson The action of reli
tics only heightened this confusion IN May June july and
August 1857 we had IN our great crops the cot
oH the elements OF recoverysut whs put these ee
ments into action All the banks brokers and capitalists in
Mobile New Orleans New York every where were in state
of panic Even James G. Kog who seeks claim SO much
now in the condition. when he made ridiculous
panic speech on Change.
IA ms state @I tnings. MIR. BIdde "cdm summers
morning. sitting in his Bank in ChesHut street. looked abroad
the SOUTH and resolved mind to restore
to order-and to bring regularity September
orOc'ber he sent Mr. Jauon London others Liverpool
and also agents to Mobile and New Orleans begin
the bcdes and most splendid operations finance and ce-
merce that ever Napoleon exhibited the south his
agents went into the cotton market purcs the real e
men's Of recoveyand by that very act the
same energetic spirit to the southern banks for this bold
the price cf gone down to or
rs ma than haltip
seat to Burop and being sold in those markets. produced in
due time aremarkabe effect the foreign exchanges which
have caused the great specie New York The
FIRST resn OF Mr. Bddes great movement was the
equalization of the foreign, aad almost that of domestic
exchanges BY continuing the coupled the few
imports of goods this country foreign exchanges went
down to l0f4t The high OF nard exchanges on the
southwestern states priHepay by over ac
ton of the banks these regions the markean over
action which the United States Bank took stop
short Of The extent these operations cotton foot
by Mr. Biddle, probably equal en- his own
accountable profits incslcnlable.
These his in this coanryand bis opera
tons in Europe conducted by Mr. JAadon only rarts
the great plan, conceived by Mr. Bidde himself in
the very midst Of gloom and confusion 1t is true that Mr.
Jaudon has met with great opposition in Londonbut op
position easily understood The Bsrngs formerly the
sgenu Of the United States Bank BY mission of Mr.
Jaudon they superseded Every knsws that
in September last, time after the revision was avora
HE moment for the establishment houses and ne po
suons In commerce. The failure or the large Anglo Amer
can houses left whch required filing up. Mr. Bid
die the opening and took his position Others
ed to preossupy the same vantage ground" The Rohs-
oh Ids sent their here Mr. Benon-and James c.
Kisg London could do in continuation.
with the Barings.
The plan OF Mr.. Biddles operations ws however coneev-
ed AID laid with superior genius to that all others
his kaowedes Of the elements greater that Of eth
The Rshschds have been sending specie here
merely as agents for some Of our banksEe Barngs simply
execu<e the financial movements of the British
Perhaps beth perform few OF these the ba
sis Of stocks and produce-but they are
Mr. Siddle has wieldealn mostly whole elements
OF the commerce between Europe and America. the
first make the the first shew the rav
he Is the prime cnuse and origin OF the sudden spe
ee he-ewhich will in months, lay foundation OF An
other Of prosperity greater steade ard healthier than
that wch In forming this opinion his recent
letter 10 the winds That mere feint uh for whale
political gutrap fer the fools We lock acts hs de-
sgnshs results II the Bulletins Of Napoleon thar
~ his great power and reputation II bis deeds in
the field Se much judgs OF financial affairs The mi.era-
BILE twadsers Of Wall street be compared to
Mr. Bde than Ton Thumb to be ksae Jack the Giant
Killer
Mr. Bhdle's operations source and cause Of
the reaction ssvtaking place in Wall and we
have doubt but before the 10th OF May he viii and
shsw miserable, iQnorast, Conceded aaacers how IN
their affairs. The Uated Bank is st the
element ofcono financial AFFAIRS and any ass oee oso
with such head Mr. Bidsle tbs TAIL will reprodu. the
same power
The business at the Stsck Exchange has very extern
end ssmsted the sales large great advance
in prices, though SNAIL proportions of sales are Tor
sash This indicates ssoyaney in the market scarcity Of
money. The decos at the Rank Convention has had some
eft o butthe large arrivals specieaad the position o,he
Governaen with regard The currency by It's recent
movements have ops rated mainly 10 produce ihs The u
States Bank stock closing sales improvement of q pr
ano farther offers made su 1851 asked Heavy
ssesof Delaware ard Hudson rise per cent America.
Life and Trust, per Hase "a per cent ston.
ngos and Utica also improved yesterdays sales IA per
cent We afihe woods
Sales at the stock Exchange.
400 8 Bank il3 li4t IS Mohawk So
n Mechanics 81 - Pate 40
70 n River 70 lsb Harsem ga
l005 Del Hud Ga a67 Is Bost Aorc e3ia
100 Farm 1901 l0l S5NJR q
3t5 Amer X Gs95l i3n stnnington IS "a