Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-28
n % N Ely NJ X X EFT.
Tuesday, March 27-6, p. M !.

Monetary affairs now in their crisis tn. element. "a
every part Of the country from New to Boston
commotion From Boston have Intelligence that their
banks will meet banks in the Convention TO be held ON
Wednesday the ih Of April will then be ready To
positive AID distinct day resumption of speee
mens Al New Orleans, similar preparations are maturing
| ton.
coupled with the Of events in washington
and Philadelphia have produced much agitation AZ 70
" 'sncy s'ock while we perceive evident revival in
general business Phenix Bank fell today in the stree, =.
though the Beard sales were recorded a, ,hs a.
"g his however solitary growing ont Of sneci,
causes Though stocks and speculative business feel denre.
he agitation In mssey affairs the OF
city founded en- the products country Ia randv
sng from tina stsgpston Of winter The Eas, India trade
the shipping business the stores and other ~
are rising sto momentum every day The dry goods busines,
much depressed bat this he sct ,n Of
e ounerh ssAn inc cotton market-he arrangement Of
the exchanges prodsesd by that actienand the general Ma
management OF the years 1856 rs not vet
nave no'~en tor months past mssh excitement IN -
high SHANGHAI circles but the excitement -,
OF depression. nov
The sustressury bill passed in the Senate and h c
saiof, the Philadelphia banks resume with opr, ain -
10 be great topics Of discussisn
- he n'oansd SUB treasury bill, form a decisive
Opinion varies with the hour Further intelligence from.
washington must be received before positye oo,n,o =. !.
madeuP One thing Is, however cer,sp-th. dvoyr. ~ -
ernment from bank and the hard.rsoney policv h.v.
cevcd The entire de gy~cs Whatever policy ,.x he
ns government In the collection OF the revenue n n
certain that Its financial action viii bs separated from thar
otne osnS and reasonable currency H,he present s =,
sa ths time In the Senate, should be The govern
nent VI" De hre~n back upon the law OF 1883 which ..l.
ne0ngoy 70 use the state banks receive their
ey soon |" they resume specie payments Aev DAYS win
possibly terminate this state efuncerisinty
In the meas tiae Is now tb,, I'm sr,,. ar A.. -
u'a o. the Philadelphia banks join ours In aver OF 70,
SUMPTION the new position OF the government viii c,u.e Mr.
ede 70 pause ssd review bis past course Tn 1855 In hs
famous letter 70 Mr. Adams he stated the repeal Of IN,
specie Circular and the receipt OF bank currency far phl
cues would restore repose to the money marhe, IN
Tour sour and eonsdesce and prosperity In as ns.v s,y,
"e conceive a the recent in sesate las pisesd
me government IL the position described by Mr. Bddl, ana
are prepared therefore, 10 look change OF policy In
the Philadelphia banks. - =
on The subject Of rcsumption that our sble 6na.
esrs are decidedly against any further extension OF the
$40" law, believing that they viii be competent at the Bank
Convention to meet wednesday after next 10 name In
conjunction with the Bestos, the day positive and une
Quvocsl resumption.
ssch NE situation Of Affairs here The very cepf
son and crisis cause exeteuert and agitsti,a =
Sales AZ tho stock Exchange
M.r~l