Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-27

The financial circles 4, wall street ,,er. H. -.
highest state Of excitement morning New. az o., -
e'auw 70 money affairs, received from wash
ineton, Philadelphia and Albany We had spulta
The intelligence of the passage OF The sub,reasury hin 4; ~
senate ia'e On Saturday night by n TO IS embracing
M amendment OF MT Webster ~eriynR the rorey,p,rr =.
,rsJ'r re".e @ns ~ payment Of public sxds fhe note, A.
specie paying bsnAs Thus wsshinrtes Tbe ,.v.Sy
Phlnselpbia was equally important The R.nl .a,..'
consisting Of Mesrs Galstn have received ~. r.r, ~
r"@oephia Banks TO their late mission an- circular a.
'n"s to Cooperate at all NTH the Mem YorI bank, IN a. -
rppfion Of rpecie Also from Albany nrix,,. -
counts state positively the charter Of The pb, -
oe annn'ied snd the Restraining Law will be repe,,.
hs me organization Of capital IN this r,,
from any quarter OF the world .0aa - 80 iv'
Suck the news in cireulatio. .r,on. a . $3.50.
financial circles As its details came ou liz ~, "a, -, =
eae topics Of discussion produced singular and eon,rae
terry sentiments ' 's-
The passage OF the subtrsasury bin In the Senate win, A.
"ebsers amendment said have the
tive vsi~ Of Mr. Webster, and the negative ~ A., c.n
whatever the details Of the he or the o,,v.. ~ -
scors ns eompronse tor such IL Is considered is
sorabe TO the commercial and banking interests here h
ory fear H. that will be defeated In The Isue 70 ,se.
he nces OF specissyng banks would the even, OF our
banks resunna IL May, be highly beneficial 10 New yorl
TO Pennsylvania asd revo
eu ana west On this stage Of the question: expec, 10 zee
ousr controversy spring up. In four sir years
10 COME the viii not pcsess any surnlv.
and hesce under such BILL power would be uobiny I.
New York banks and the thus TO sc, ,ore
hs possible that something might be effected owards
positive and distinct rrsunpton ofspecie pay menu
Such Is the opinion entertained OF the news from waS.o
orihe news from Philadelphia entirely OF dere. CON-
plerios.
The reply Of the Rank Committee Of Phadepbis meets
the grounds put forth by Banks the CircuIar tho "a
ssd attempts rete every poto. there enforced NV
Ms.ua Gala,in, sissg, Nswbola Co. The Ph,adepIls
Circular dea'e that the fa Of the ign exchanges. or the
import Of specie from abroad sufficient Facts on which IN
attempt the resumption in the condition OF the eoun
try The fall Of the foreign exchange has been nv
the aciior Of the domestic exchange and until ho are canal
med IL woud be hazardous name DAY. The sou,b-rr
southwestern and banks owe 10 rroe
balances probably sloeoeOo These balances are adu,v
diminishing under the process Of qudsoa based on the
crops coming now 10 market This process hardly got half
threugbncr y there than half the crop rome forward
Until the liquidation Of these balances nearly com pie.
ted the PHILADELPHIA Banks deem their duty themselves TO
their stockholders, and commercial community IN bcb
they exist decne any operation for early resumption
Of specie payments that dcssnated in the New vork
Circpaf hiseven doubtful whether the present crop when
II aresches market, In their opinion, be sucien H.
qnidate the debts balances due the Atlantic hsuk The
policy OF the also referred another cbsta.
Gle to the measure proposed by New York. aad believed
that the bonds duties BY New York the Treasury
would 10 the Of resumpton, tend 10 another
| Suspension.
These believe are the general views alluded TO In the
rhiIadslpbis reply
On this being received the New York Committee assembled
haste had consultation discussion on the poirs Al ia