Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-24
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The foreign exchange market for the pssAsss Of the .I
opened under the extraordinary suspcs Inc
quantity offered properties the qusny wan'eo ws pc
yend any thing have seen Of late % 'ne 1Aeaass
Of the lower Rounds there were prossoiy f"s"sy'.s ~
or bills 81 every amount sale on London fas hasrs
Hsmburgh Liverpool, Glasgow DC. According 70 INC a.os'
accurate lists that could procured It's probable the oer
ings stood thus;- o.oo...
s0uthern cctton bills, 81 ss0
B Blas On s ~" bills, (E5oOoc) 2'otso
Aggregate amount offered, s5oeoo0
+ consequence of the large and the d~sished de-
mand price opened 1906 but soon fe 1901 and before
the of business hours some small parcels were parted
9th at lo5 rather keep idle Probably there Sooso0
ar more still e over which could md purchasers 1.-THE
weather or any should deay the packets The sur
plus NAV be taken off, but still lower prices. II 20,
90 still further and leave l0a New YORK.
renew Now New York currency depreciation of u
er from specie the OF exchanged Eng
land al lesthe price yet sold tors 81 per
under par speak with mathematical accuracy 5.S
IA favor of Neuu York aud against England On France and
the continent the rates little hgher anes selling inr
$40 The principal buyers Of the foreign exchange are the
i'm ortcrs.
La connection with the singular condition Of the foreign ex
changes may the influx specie from Europe TO
New York, Inns begun with steady stream This Inc
natural result growing out OF he movements OF our foreign
trade exchangesand in me the movement OF specie
the House, during the last ten have been
made bullion mportedino this city, to he amount OF $3.50
eoO perhaps This is the Off 'ial import but Wen
known that the movements of Specie the ociai reports
never represent all the facts ny returns the oo"
ing have keen imported
BY the packet ship Toronto, sSoCe
Westminster, $4,000
other vessels, about 10000
A..r.ra,e in .for,ngh, sN8Oos
OF this amount Phenx Bank has received as we learn
$4,000 British sovereigns $i50OOo as part Of the returns OIL
American stocks London for investment in that CAPT.
tai The Bank of America and the Manhattan and perhaps
Others also received small aiarge amount
that expected in on the part OF the French
gov. rnment OF the instament Of the Indemnify
will be seen therefore that the principal element In the
equalization Of the between New York and London
is principally in this ee nent verged another,
new power which w after the present most
important influence all the of trade. We al.
lue ofhe great and novel enterprise
the British Steam Navigation Company, which will at once
bridge broad Atlantic, and bring the old and world
within twelve days al each oher The establish
men of the Express Mail New Orleans had great effect
the trade New York-wba will the establishment of the
Steam Line Bristol have leave other minds
Its effect exchange will be least equal 10 or cent at
bsw-because month, by of the steam ne the
balances be adjusted by export import Of
specie either way
the in the foreign trade and exchanges
our trade greatest difficulties Great ella.
raised against the banks for curaneat Of loans. On
minute inquiry, learn that this curtaraen complained
during month"; has arisen from The
OF the banks quit entirely the inland exchange business in
which have been engaged during the last three years
This policy been forced upon them by the suicidal action
ofhe Trade the charter OF the Phenx Bank
banks have taken seriously into
tendency that inquiry and the determined hostility in IL
ed during progress and that after several
they have nearly agreed quit the field Of inland exchange
altogether coane their operations usual dssoun,
OF paper at their counters.
The effect of this pelcy is fold. First has caused
cuamo since the Board Of Trade moved
in the matteraHd Secondly has produced additional
the inland exchanges Today the quotations
Of the inland exchanges follows