Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-02-08
MONEY ARKET.


=
We have several remarkable events bearing money
and other markets today Foreign exchange
another great and sudden faaccoun from Have and Lii
verpool rather depressing the Gotten trade but the
OF money matters Is palmy in England, that,
learn the Bank OF Esglaad the last dates celebrating
the policy of aiding the New York banks with supplies
bullion to resume specie payments.
These the leading features Of the day-aew for the de-
tails rationale, analysis and probable results
Exchange London opened early part the day at
81 the sve de Grasse from Havre the l and Tur
bay 5th 10 the morning, little done
I'LL her commercial Intelligence reached Change On being
ksown that had and the stocks In Europe
nulatng, exchange began TO decline also, although il
ought This decline further encouraged
by the large number Of bills thrown into the market based
the large shipments here and the South
Accordingly very few sales made at a. heders being
glad realise to Oh by high Change. At later hour
believed would still lower, and intelligent dealers
think it must 20 los ios few weeks On
France ruled 10 532i and heavy these
Southern bank exchange went at s. On Amsterdam 3s3
~ Hamburger asa 35i be quoted as the fair rates
The scarcity Of money bills TO be offered for good
paper.
The sudden turn Of the exchange clearly shew that the bs
setting strongly 10 favor Of the United States
asd against England In the natural OF things specie
will how Eur.pe TO America Al percent, the diff
ference favor Of this is nearly u per cent which
will stimulate shipnes Of specie from Eagland 1t
last long. The exact par IL le9 23-4e per cent
The projected movement Of Bank Of England TO aid the
New york banks the most impsrsat piece OF intelligence
have received from England This was currently
reported among intelligent circles Change today the
authority Of letter from the house OF Thomas Wilson Co
one of their agents Fro another quarter have
learned the probable that have caused the Bank
Or Ensiasd to entertain such purpose.
II is well knswn that the revusios IN this country
upon the large houses Ia London the Bank
Of md sent Mr. Cowellas agent this ssuntry In
der 20 examine on spot the Of disorders and
the probability Of their For several months past
this been engaged In the msor It's believed
that he has found great cny In the realization OF bis assets
principally arising from the disorders Of our eueacy' and the
complete confusion slani exchanges This confuos
and this disorder by the suspension Of specie
payments and the continued naeon OF the banks long
they r,maa in that position. resumption specie payments
by ali the Leading banks wond lead expansions Of the cur
rsncyo revival Of uado-e vigorous rsconsrusdon Of all
the elements or prosperity But In consequence 81 the po
cal hone. az the Unes Bank and other institutions IN
m interest there are great efforts making TO prevent the
sumption specie payments asd, consequently 81 all the adj
van,sges that may grow on, ofsuchs movement
Th. state things being represented to The bask OF Eng
land nv their agent subject Of establishing an sgescy In
New yorL Paris Amsterdam asd vesns was sgtscd the
Bank parour II viii also be recolleeted that this very intel
rence We through the Londos papers several weeks
ago The great increasing quantity OF specie IN the vaults
OF the Rsnk Of ngandsnd indeed In every department Of
h,s. ,hro.ebeut the Usiied Kingdemhss, We learn
rlv The views Of the Sank as respects Their policy
The sed At the last dates the bullion IN the
b.pl had reached ssrsg and would soon rise to
ne ooo oeoss amount equal that Of any period The most
prosperous in m history since resumed specie payH en
sa2 The Bash Of England, from the staeWen. made by
M, co~. have become satisfied that the restrictive policy
Of 1855 which set motion the revulsion In the American
trade 10 E~sssd end ultimately tended 70 esu'- The a'psn
SIC. Of specie payments here-,hst This policy was adopted
from knowledge Of the resources and soy o. 'hs
country ,r,r to their engagement
Tn. Mesv, ws.. Of Paris scby sustained by the Sank
Of France end nov esrey out Of ssuly has also cssvn
sed the directors 81 their bad policy. The Bank nov ss
pesed s,dopt more LIBERAL policy ssS he project 70 ssdhe