Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-01-16

tomorrow, opened today 81 on England and 20 on
France. Only small portion taken English account
at lC9aprobaby $50e0c-the bulk OF remtances being 10
to loa AT these the Manhattan Company
OF America Came into the market sellers. The United
states Bank Agent ia the position of purchaser although
Il SAID that 5000 Of gold have beer shipped by
Jaucon to New York since he reached London number Of
private bill brokers also sellers. time
past there has been such exchange negoa
tons as by the present packets According the
mates we learn that the transactions foreign bills will equal
$75eooc to Liverpool and $3.50 Havre-n sloooOoO
10 this large amount required by remaRces the unpre
pared state OF the Market be attributed the
the rates.
The conclusions drawn from these facts and others Of
similar nature highly favorable character OF the
foreign trade.
Inland exchanges also mproving-h,t is eouali sing
particularly between New York and the South o. Phade
phia and the they usua-on Boston
Ing the panic ameng the banks there difference
The action and OF the foreign exchanges the
most important Tie rally price large amount Of
mittances spring from identical causes All the packets to
san are full OF our products going iorward-and
packets oil the LIST OF Feb are half engaged The quantity
American productions seeking expectation Europe is far
beyond the supply OF vessels This inequality the supply
and dem7nd exports Increases the eights also
now well knows that much larger nportaions Of Foreign
goods VIII be made here than many expected The old
porting houses swept crippled by evusion will
not enter seepy in this but houses
ened here the shape agencies houses have
seized the opportunity, ard will avail themselves
chances opening upon the next spring large of the
spring mporta,ons will probably be foreign The
great crops OF 1887 coming forward and regulating the
northern and southern balances and exchanges will naturally
attract foreign goods here.
To these therefore in part attributed the pre-
rates and of the foreign exchanges
sequen disappearance ofspece oper a-ns exception
OF the anomalous movements Of the u. Bank. IT, as we
have already minated this great bills
ON England and importing specie from London this policy
must arise from their peculiar plan of organizing Of
foreign exchange operations ways as has been
minated in several of the Philadelphia London pspers
In the midst Of the trades move
ment going properouy Mr. ssgacity and
dcernment to avail him Of the action and to
make the foreign OF country the basis OF his own
individual organization Of system will regulate in less
than year the action OF the whole
An connection with this subject give the following STATE
Of the condition of the United Bank four
periods the only periods we believe for which any
| been Developed;
UNITED RANK.
Leans Ars s lssI Mg ssg doo Js" 1885
o'f po Isw s.sasss 7lO7s t9isSs $3.50
Specie l9s,oo4 l,4eos2s s'ol623o s77os42
s sS%a no,e. Europe not ss ISIS .s s.ss:S
This is however, mesgre statement ard lets us only see
small part Of the magnificent machinery by which Mr. Bdde
and has begun, TO organize the whole foreign trade
and exchanges to make Philadelphia the monetary
oil tbs ceuky In this great design he facilitated by the
action and policy OF legislature which peddng nightly
al the passage OF small note lava specie of locooco cur
rsncy-nstesd Of organizing State Bank capable Of
giving New York the advantages that she al
ready possesses by God and Nature
The excitement la Wall growing out or the Bes,on
bank explosion has somewhat subsidized Great effort Is max
ing 10 Keep the credit Of bills and distinction H
drawn between those of Boston and other have m
and detailed statements Of all the other
sets banks, and shall publish them In day or two
The confidence in banks Of small capital &c exp.n
sions, terribly shattered Deposors show disposition 10
draw out their funds and invest them In tangible
such asRa Roads and Canals and other stable property The
Boston and Providence Rail Road has divided yearly
dividend OF cent Throughout the country every leg
lature engaged In nkerng the curreRcysome in deysng
and baks specie payments
others 10 look into their vautsotbers
currency Doubts OF individual banks every
where The public first lost confidence In the banks and
then banks stopped paying specethe banks losing
dence each Other and then solvent thus shut up
The Treasury Department has begun a emission OF
Treasury notes. bearing per interest why they
do so before The that the
creased order give curreRcy equal specie OH
Wisdom In red whkers rides Pennsylvania Avenue on IN
English blood horsesnd receives the pretty widow.
in his private Office. Oh
Sales at the Stock Exchange.
SATURDAY, Jan. f5-I2M