Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-08-14

q day or two.


Since sent my last despatch, we have had several
arrivals from New York, all communicating matters
of more or less interest. The most important, and
the most looked after, are the monetary movements
Of New Ycrk and Philadelphia. In London, whchis
the centre and soul Of the money ma'ket-and Man.
chester, the heart and bowels oil the manufacturing
mart monetary intelligence always creates more or
less sensation frem New York. You will mark,
frsm the newspapers here the depth OF interest with
which London regards New York.
The position OF affairs has not altered much since
my last. The great struggle is between the Barngs
Of this sideand Bidde Of the other, for the posses
sion of the "vantage ground" in the American trade
during the next ten years. This has reference, how
ever, merely TO money and cotton. The successful
establishment of steam lines will open new srug-
gle between England and the U. States, for the pos
session Of the trade in fine goods and passengers.
new company has just started in Liverpool-another
steamer sails on the 9Th July-aAd before next win
ter, may expect to see many more. think, alse
that an effort will be made to get off the British
Queen in the latter end OF August.
All these movements are giving great and addition
al interest TO the present commercial relations of the
countries. The indirect effects are felt in various
ways. Amencan securities have felt well for the last
few days-and they are now more and more enquired
for Money is plenty here, and probably will con-
tinue TO be SO for some time come. The bank poll
cy IS very steady-and as the Committee of the
House OF Commons is now examining the joint stock
banks that circumstance has the effect TO keep these
institutions in order. 1t is not believed here that
many goods will be sent on American account-but
to make up the deficiency, the English themselves
will be lavish enough.
Up 10 the present time, great fears entertain
ed that the crops would be deficient This alarm has
now ssbsded deficiency in the crops here has
generally most extraordinary effect en- the money
market and exchanges BY the end of this month"; il,
believed that money will even be more abundant than
It'll new. Nearly 10 00O 00Ol of dividends, and 9TH
er funds, will be paid and come into play, besides the
vast aggregate of expenditure brought here by the
fashionable season and the coronation. have no
doubt that these gaietes and ceremonies will bring
from the continent alone about 1000 0eOL, besides
5000 000l. from the provinces The great reservoirs
for these expenditures ultimately the bank and the
bankers. Ii would not surprise me- therefore to see
money here at per cent in July. The cheaPness Of
money will, and must give great impulse to the
American trade, in every form.
The stock market has been very nat for some ii me
nothing Of any moment taking place. One Of the
principal kinds of stock here the railway shares.
They are as numerous ours in Wall street, and as
huctuating too. For several months past various
bubbles have been attempted but little attention is
given them. Banks here have been organised to act
in Canada, Nova Scotia, Australasia, &C., and they
appear 10 succeed very well. The Banngs, through
the agency of Price & Co., want TO control the
ney market Of Wall street. and keep up rivalry to
Mr.. Biddle, for his planting agency here. Let
them beth be given rope enough-,hey will benefit the
Uaited States.
Very little is dong in Parliament in these days.T
People are waiting mpatently for the Coronation, in
order to be of 70 the country aad the continent
The whole subject of public debate and discussion,
now is Irish affairs. When Ireland gets to be great
country, l don't know what the people of the press
will do for matter to quarrel about.
The QaeeR is at Windsor, but will be in town to-
morrow Ascot races have been held this week, and
today is the gold cup day as il is called. Again,
say, don't think much Of the horse racing here
They are mere es-shows-crowds-bu do
not embrace the science of the animal. Their one,
two, and two and half mile hsats are boys play
am perfectly satisfied that the noble animal has i'm
proved in the United States. This 10 natural. The
horse is the native of warm clime-Araba Eng
land s a Geld, damp wet country. When the blood
horse is, therefore, transported from England TO Ma
NfgIHas VI cvcn AsCW oiAs hS 49, NV ms
natural climate and accordingly improves in both
blood and bottom. We are decidedly superior 10 the
Eaglsh in race horses. Set that down, John X. Ste
.ens, as q fixed axiom.
Tnere Is nothing very newiR ihcatricals. Madame
Celeste leaves today for Liverpool She told me, the
ether day, that On her retsrn 10 New York, she in
tends give her powerful aid in the establishment OF
Theatrical Fund for the benefit Of decayed actors
and actresses. She will give il q benefit herself
She will return to New YORK in August or September.
She has been highly successful during her visit to Eu-
rope When she goes back TO the Uaited States, she
will carry half dozen Of new pieces and novelties,
which will again bring dswn applause from all her old
friends.
The Canadian affairs are not mich though, OF
here People lssgh Al the war in Canada--"s pud-
die in a storm" The governmeu, upholds il, mere
Iy. part of the great colonial system, which may
be considered q part OF the exis,esce Of England.
Yesterday viewed another splendid collection of
choice old paintings, an account Of which shall
give in my Journsl by the next packet | am going
out tomorrow TO spend the afternoon at cottage IN
CamberwelL with distinguished merchant, Who has
been one Of the principal IN creating the new
IN Atlanue steam navigation.
shall send out in the steamer which 10 10 sail from
Liverpool on the 9th Ja y, descriptions, eneravnes
and wood cats Of the coronation. You viii tskecsre
90 have them Immediately Published in the Herald,