Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-01-26
M d N + Y M A * X H. X.


The pressure continues with unexamped intensity Socks
still fall and the inland exchnges the south, which hs d
been reyving for several weeks past begin indicate symp.
sf disorder The discount Mobile bills is CT on
New Orleans being recent quotations of
TO per cert.
One of the principal features oftsday the fall in Ursa
States Back shares and also other solid stocks The fall OF
stocks arises in from scarcity OF
merca paper, ofhs quality which the banks will discount
The holders of stock discounts, for confidence
completely zed that business paper
than has been in New York. III singular fact
whsandng the intensity OF the and great noise
SGT in thereof that The les, commercial paper
readily discounted AT the bankbut there happens 10 be
great difference OF opinion between lenders
to what is lad paper, good paper or tie het PAPER.
one OF the OF the prolongaon al the pres
here the policy Of the banks In Baltimore Boston asd
Philadelphia The policy Of New YORK hes been curamert
and quent resumpisn. We have insisted mach
of acsn, that the other numerical cities have
last complied, and adopted the policy. This genera
csramen therefore, New York which sihe great
OF and commercial operations for this
try As the bank curament ihoug the country wdens
the sphere Of il, aec~, will the reaction he The felt in
New York. Probably tbs cunsnents since the Bank Con-
venrn, sil in Boson Baltimore aud Philadelphia,
soco00 Tie increase In the price Of sp' cethe fuctu
alton beginning the betn exchanges, all evol
we'd by these curtaments In short time The banks further
south and i'll Ne forced into the policy. This will
increase the pressure, and widen the intensity offs action
such the view taken OF the prsseat position OF money s
Netu correct commercial
positively and distinctly that there portion
ofbunpssa germ ola great ready leap into
action the elements Of ate be re ssed rem the
paralysis and Influence OF 10, ofoco government The
all those who have recovered from the engage
of $50 and 1857. The beginning business the
system beyond these fluctuations and protrae,ed
struggles
Another Of the ef the preset state Of things the
bitter feelings growing up between the banks and the
chants This + to he deporcd.
from England By the England TO the 10th
ult The meney market in London seasy. Unite' states
quoted E25 which, In present
taking into the present cfexchange equivalent
10 I2i American stocks all firm Cotton also firm
There be another panic generating among The Bos
ton bsnls II believed that he policy Of the asocisted
banks Il is calculated that during the
week. full IS $1,000 Of eastern money has been retunedo
Boston. II sells at per cent and Is scarce
sales at the stock Exchange.
THURSDAY, Jan. 25-i2M.
% n. =. Rank 1I7ls liza 2i5 Hsrlas w r. X. g
81, Del A. Had ISL n Isl gro Rost. q Wore. 70
20 Mercs Exchange lI2' AS NJ y. R.R. %
50 Brooklyn Bank IS Bloomington IS
900 Farms Trust Io2 1921 - Utica r. X. 1B
ise AMIR. l. at sol a 81 Six per cent Treasury
n Nep Ins. Co. 80 Drafts. 1917 loIt
40 Jehersr do. ~ Sl5ac 1rs@. Ne ie"sa iev1
specie.
American Gold II Half Dollars AS
Spanish Doub III Suarers 3aA