Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-31
III q N Ely nj A X X Il Il.
Friday, March 81, @ p. M

The approaching Bank Convention which opens on the
lth OF April and the subject OF naming day resnmp
ton Of specie payments by body the leading topics
OF Wall street.
Notwithstanding the efforts OF interests particularly
the dry goods line, and the Board Trade we have every
TO believe that the policy Of banks to
winotbe changed under circumstances During
the last ten days great effort has made both
here and Philadelphia influence our banks into
relaxation OF their policy. These efforts have been unavs
ing The curaiment necessary in their estimate success
full resumption has continued and given Mr.
Bdde and the Philadelphia banks will be at the Bank
Convention change their policy and day 1. con-
junction with This belief has gained strength from the
fact, that funds on Philadelphia beginning
qured asr here, and that the Of the exchange
has begun.
banks have during the present week. the
preliminary curanent, and that In few days we may ex.
pect similar policy adopted the part OF the Bat-
banks This opinion fortified by various son-
tempoanesus 10 the legislature of Maryland and
again that Of Pennsylvania bills have been ntroduced pro-
vdng for resumption Of the banks Of each OF those states
in the contingency OF resumption Of those in New York pro.
baby including the Boston This symptom most broadly
developed In Pennsylvania.
Another circumstance also confirm the belief that
Mr. Biddle under action OF the Convention may
change his policy, and take himself IL he ean the whole
credit of general resumption II sad bonds pay.
able hence have made their appearance in market II
this be such has been adopted impede
general ton for that his INTENT but TO furnish
him with part OF the necessary carry
ful operation Mr. Biddle is also Of the great blow
which his credit would receive Europe permit
the packet carry out the intelligence the Boston
and New York Banks had resumed but he had Such
spse gritty would not ony ~ credit
Of his Bank and Of the banks Of Baltimore and Philadelphia
but woud deprecae value The slate stocks both az
Maryland and Pennsyvsn in the ,ndoA market In Eu
rope little distinction Is between the credit Of
state and the credit Of It's backs
From all these considerations the impression is gaining
groun that Mr.. Bdde aad several teams he drives so
neatly in Baltimore and Philadelphia will approaching
Convention, agree with the Boston New York Banks
name day for the general rssumptoa. Now basks
sannot by law delay longer than the 18th May pro-
bable that they all before the kr OF June
IL asst the LIST Of July.
II such be the policy Of the Philadelphia and Baltimore
banks curament Of discounts take place the sexs
six weeks great scarcity money cities snsuea.d
general equalization OF exchanges between them and New
York. present much In favor. pursuance OF this
policy by the Bask Conventen will also produce striking
effects the banks Of the south and southwest
pressure there aso-and the inland EXCHANGE. co.
time, become deprecated dsordered befor.
they get back To par
II utterly impossible time or in our limited .r.,
calculate the fleets Of policy on the ,enb.r, "a
southwestern banks Many OF them must close mn and ,h.,
In the recent preparations made for resumption bv the B
banks have banks shut nm nna.y ri. 49,
ratios Ths process Is still going on. Yesterday in w,i
$40, 'c'eNeu IRON Boston, Of the failure Of
shree banks In Vermont, as follows
Bank Of Newbury located at wen. River
ors'se, Chelsea.
"husor Windsor
The agents In Boston for Of banks had ed and
the seholk Bank Immediately theu or the is, In cos
sequence eastern money advanced today per cent dscosn
Great approximations entertained Vermont money
fortunately little is In circulation IN this city
Today scchs were rather quiet FIreen exchange looks
up The asking price 1854 10 ee-but little yet done.
Sales nc the stock Exchange.
Fspsv March 3o-i2M.
ie1 states Bank iiil ala 10 Equitable ms Go 90
~ Mechanics 90 i2 Firernsns pl
sa5 Del and IIud Goa aeil 80 Manhattan Gas 81
State Bank H N TIaaem 40
ilf Farm Trust GA osl 25 BoIk Wore 70
81 AmLkT W 100 sionsngton NR2p
10 Ohio +" sss Trca Notes $1,000 1905