Southern telegraph. (Rodney, Miss.) 1834-1838, 1838-08-01
NEW YORK MONEY MARKET.
TuE.pAY, Jnly lO,-5P. NJ.
Youis, Froly,

NEW YORK MONEY MARKET.
TUESDAY, July lO,-5 P. NJ.
10 Triumpts! MIR. Bddle has resumed
the payment Of the notes OF the new bank
in specie. and large amount oflhe precious
metals was paid out Yesterday for the re-
sumption of these notes. This movement
on the part of Mr. BIdlIc, will be hailed as
the bronx of day through the stormy atmos-
phcre in which we have been benighied. In
tho opiulon of Mr.. Biddle. the wiseSt policy
would hive been to resume at the time
the growing crop of cotton viii be ready
flr ne market, and in thus Welding his
own opinions he eymcrs great re pect for
hose gentlemen entertaining different views
"a the subject. But perhaps, the most CO.
gent reason for the change OF policy has
been the operation of the law Just passed
restricting the issue Of the old United
States Bank notes and supplying the place
with those of the new bank, it became ne
cessary to resume to sustain the institution.
We trnst the Southern banks will find
his Arrangement equally beneficial with
he furnishing Of old notes as medium TO
enable them TO resume. Thus the great
step is taken towards return to the old
channel Of business, and we may look for
ward with confidence TO large fall trade,
as the other banks of PENNSYLVANIA viii al
So fall INTO the measure without delay, in
conformity to The joint resolution. Bick-
no.l's (PGiIadeIphla) Reporter Of this morn
ing says
"We understand that The delegates Of
oar city and county banks will hold a meet
Ing his evening, when committee, recent
~ appointed Ter Inc purpose, will make
report % gel gu to the Propriety Of hold
ing .., convention in ibis city. We
learn Hl ,he 23d inst will be suggested as
.he proper ums for holding such a conyen-
uoH, aud thai the banks Of ha neighb,ung
slales-Elrgum, Maryland, Massachusetts,
Ohio and ihe district Of CoiuAb.a--wiIl be
invited 10 send delegates to the proposed
convention, Ii is our impression that this
con.eH ION will recommend the first day OF
a gust s. ho proper time to resume specie
pay mcn's in full"
Bu IN consequence Of the above prompt
mmyemen.s on the part If Jhe United States
B ak, these banks may now deem il expe-
dnuj Goo Il.ow up the measure at once --
We -ia' hts once more be put IN posses
.loa $50 ui currency, vnd Time nlii 'n-
f.. wen us .oro- ono Oh. conf .ouco IT,
.., Is .slr. without winch mess t.u-r
contInue 20 druor
There no material difference in exchange
Today. Mr. Bddle al Philadelphia, is
winE "a New York at per cent preml-
um ~ oul brokers are buying at per
disc Uni. Ono.harpoints South and West
'are is ~ Oh ngo.
Sight bill. on New York were sold at
New Oaleans on the I'd inst, at 4 6 per
cen; TO days, 3 4 per cent.
The banks Of Toronto, Upper Cauada,
arc DRAWING on London at l3l per cent;
and "a n York at per cent.
The Planters Blnk of Tennessee hrs
declared a dividend of 3 per cent for he
last Is m n's, payable to the Stockholders in
New Yelk on thc 10th INST.
The b nix of Tennessee, Nashville, has
Instructed the branches MOI II di,coan' Tor
The first ) diys after they % into opern-
ton, more than $500 for any individual or
firm, and in the discounts made by the prin-
cipal bank in the month of July, they shall
be porportionod to the citizens Of the seve-
raj counties as follows: