Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-04-13

d ONEY MARKET,



Thursday, April I2.--s r. n.
From Phadeldha learn, by private correspondent
veral items indicating the position OF the United States Bank
which stated with sufficient expcitness the letter
OF Mr. Bidde These additional facts and items these
Circulation ofthe cid U 8 Bank, % 10000,
nsss % biased on cotton stocks
Advances spring of 1887 10 New York. part sus
pended, r 600,
In January last Mr. Jaudon extensive negotiation
with the European holders coming due in
Londonn April 1885, and subsequent In this negoca
ton he exchanged for these large sums of
state bonds and other stocks which preferred
holders TO the United States bonds they longer
date and OF interest In this ope
ration the OF the bank have very much
in Londonand il policy BiddIe to secure his Gre
dit and give stability TO his operations point in prefer
any point in the United States On London Change
the United States Bank through its agen Mr. Jaudon is and
always has been, speciepaying institution 1t will conpue
be- and in this consists the great of its strength and
the peculiar financial policy Of Mr. Bdde. is in fact the
POLICY in finance which that of Napoleon, AL
exsnder in concentration of proper
point Mr.. Biddle looks upon New York frem Philadelphia
with the difference of exchange against him. may sup
posed the Bank England looks upon city, an
equal difference against London The exchanged New York
Lendon nearly exactly the that is New
York Phadephiaabou 81 per in favor Of New York
and against London and Philadelphia At the packets
ling exchange sold for lc New York papers this paper
custng discount of per Pc par 1884, which of
makes the exchange against London show
ing that exchange Tendon per
Philadelphia, and that he currencie Of London Phade
pha nearly par with each other Mr. Bdde only
that bis should par with that of the
great of in London The Increased value Of
the currency of New YORK. arises from Fictitious causes which
may disappear month London centre of the
great European market for Philadelphia
consequence Of the cotton operations of the United
Bank has become the great centre of the American market
of materials for the supply Of the world New York
the of the exchanges between bob po
on packet nesbu its measure of value
price foreign exchange emily indicates disturbance in
the equilibrium Of trade depreciation the curen
cies of London or Philadelphia
Such The views given by Mr.. Biddes friends Phs
epha.
From Mobile the south learn generally that the
Bank Convention sxces the veest Banks
of the south, correspondent win vhdraw any of
The funds deposte In New York. should banks
Why! For the best Of Ieasens-becaue funds
New York worth to than
bile in London Now exchange London worth specie
to buy goods in Manchester follows that New York
worth to per than specie The United States
Bank, and other banks, continue their operations
Deep consultations and comparisons OF opinion held
night aneng the principal nancies of Conven
the Of whom soournng the
In The session oyeserday mornngne Developments
took place. appears that very serious difficulties
be presented the combined action Among
the New England Delegates there strong opposition to
naming any for resumption The mentioned in
Mr.. Bddles famous letter.
is generally believed that the impulse under which
the NewYork Banks frem clique stock
pecu in Wall street. and that such policy by
certain portion Of the press pure speculation in stocks
The Eastern Delegates also very decided
the New York banks only make fit Of reumng-thnt they
do with advantage the pIbc-a that If
they make the in May the fact will
position year afterwards also very conf
and banks by cura
men,s have brought New York in debt to hem,bs there
900 sfunds belonging the banksana
that the New York banks all The funds here will be
Withdrawn In specie In single day. is further sad
Philadelphia ready pouncs upon 200
Of specie the day after they resume.
These views and sentiments and facts from nonre
sumption party, the head OF which is Mr. Biddle
On the contrary the resumption party composed principally
OF New York, Virginia, and portion Of the kohw esern
assroos for the appointment OF to
proceed Washington and the aid OF the General
in the effort resumption The party oppose
this swiuy and charge the whole policy New York
banks the efforts Of clique OF peculaer have bee
making operations London 'Chspge in opposition TO Mr.
Jaudon From Appearances last and this morning il is
probable that the pcnresnmpon party the Others
and that the Convention finally end in abortion The
indignation OF the great body OF these 6nansers
daily against the Wall clique of specuats At the at
tempt made them merely socl obbing opera,sn On
| Tendon Change.
The downward impulse gives to Stocks yesterday s con-
nue States Bank having again receded 81 per cent Ru-
ascbcs this the large Indebtedness Of the Bank viz
S8 e00 FOR which she liable he called upon any
menL The for sssooe ooo available In s. and
years Delaware ssd Hudson has also declined A. Farmers
Trust, Harlaem l. The sale OF Eagle IBs at "a
with the dividesd eff. Specie has advanced little.
sales at the Stock Exchange.
is. yssask iosislcs s Eagle Issco g
IS Z P p:l asa a,. ~! 2 S.s s.;s: