Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-07-18
N NEX Ahk ET.
Tuesday, July IL


The election Just Terminated in New Orleans Though uDim
portant viewed politically fren the cleo.
on showing the great change which has taken place in
pubic opinion with regard to National Bank in those cities
which have heretofore given large administration maerites
II becomes Important letter New Orleans 7
instant has the following This has been the mos, con-
tested election ever known in the state OF Louisiana in
TINS cy ms resulted in small democratic minority fer CO.
vernon Inc election for Senator turned question
Bank or no Bank Jno. Sddel Esq the w. d candidate
Tor SENATOR very popular last year sosd highest
on the ticket for assembly, his election Congress
his opposition TO National BaRi. His opponent Ed White,
ESQ., 1eng IN favor OF such ms institution The election
contested under large printed hand headed Bank or
no Bank" thus the question fairly issue and Mr.
White rumphed ever his opponent by a ory OF oao votes
out Of SOC votes poed The other members elected
in favor of Bank" Thss of the many indications ,bat
the question of re establishing National Bank on coming
before the approaching session Of Congress will cease TO be
doubtful
We have received the proceedings of the Board of Direct,
ors of The Citizens Bank New Orleans meeting held
the 9Th u to whom rete red tho proceedings of
tho board Of Presidents in heir meeting ne 10Th of June
That IN the opinion Of this board the extraordinary
rangement OF our domes txchsng'sis the natural
the would Be- 4. s
for the That the trade suddenly enrved OF
would exist in the exchange commodities That In ,emo
val OF The cause The only remedy evil SO demorazng
Tha. another benefit be derived the resump.
ton won be he returning sto circulation OF Of
sevenyfve millions of specie, weight by the
Suspension.
That from da,o furnished by tn. barks civ il ap-
peas that their outdoor circulation $5onn ono
That they hold coo Of specie of Of
cent and of bills receivable that nothing
vast OF concert OF action can prevent early resumption
That to attain so desirable and crediabe end, this
bank disposed place the whole surplus active
a. the disposal osuch ofthe other City Banks require
them.
That the sran appreheaded by many for the western
country may be easily met by timely arrangements with the
is ued by eastern iunds.
T. That ia the opinion OF this Bank su table time
for resumption Is the dead August SEPTEMBER
that the pub gradually he said resump
ton, previous 10 the receipt Of the crop,
This movement eoncurred in by the banks generally will
eve the Philadelphia banks in from the Ger ma
in which they stand with regard The souhcrn Banks Tho
New York institutions accused e 81 and
public spirit, In disregadng Of the southern
banks by returning to specie before these
should far have matrred their operations
muaEeous pon safe arc practicable In this
the rhiadelrhians stand ard this may account
for their back wardpsss In openly avovisg h. for all
business purposes thew have been doing last fourteen
redeemrg Their issues in specie ard which they
been driven into by the force of pubic opinion exam
pie of the New York and eastern banks.
This has probably been .dullest Says in Wall,
street. perhaps known Change very thny attend
ed and great spirit Of ndolence among bro
ksr generally.
TIE Hudson Republican states tsata will 90 ino
operation in that city, probably before close Of The
bank law OF the last session the legislature The
capitals to be $4,000 Already something hundred
| ar thirty thousand dollars have been subscribea
The business the board today las bseu small and but In,
tie disposition sell has been manifested; nseqnence Of
this have been less than they woud
Prices closed firm, and in instances nc
advance. NJ Il r. went up one Stonineton
per Harlem closed at per higher han The rates Of
yesterday while Illinois bank declined per cent