Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-02-13
Richmond, Tuesday, Fcb. a's.
LjfousiarU Market.

The New York Herald Of "Wednesday last says. ihnt
HThe news from England is the all engloSS'hS Su"Ject
The policy of The bank of the Great Metropolis 10 a.
4rdnG facilities the banks OF this country 10 resume
noc nuvments is looked upon master stroke OF po
lcy-induced partly by the condition OF nar5 ana part
w. it is supposed, in opposition TO Jaud"n MISSION
The policy Of the Bank of the w. 5. beng well known
In The Bank of England 10 be adverse To resumption
II isu curious position this, in which the Two Banks are
nI,ced Whatever their feeling be in regurd 10 each
other the policy Of the Bank OF England VIII unques'
tionuby if carried out be productive OF great gnod 10
this country in the first instance, and Il" ultimate benefit
4, Euuand, The countries are so interviewer IN COM
mon interest with each other that one cannot suffer
without involving the other.
The same paper on Thursday last states, that "money
matters day are extremely quietnot ripple appear
inc on the surface Of affairs. The news from England
has been thoroughly digesed-and the result IS merely
an ardent desire TO receive further intelligence from tha'
nuarter The flow Of specie towards this country has
begun and short time lis effect on The price Of sPe'
Gle and exchange here will he seen
London Cores pondent of the n. Y. Evening Star,
writes as follows on the Goth December-Thls again
opens more cheering vista to Us: "MoneY Is very
plentiful and at low rate confidence IS much restored
in relation to the United States and they look forward
to brisk Spring trude Bank Stock has fallen in con-
sequence Of being compelled To reduce The dividends
s there is little call Tor money, and the Bank hes
fifteen millions in It's vaults, and there is some talk aoou
exporting part 10 the IT, S. Every thing here is quiet
and comlorube-every one is getting good living, and
times never more prosperous.
The New York Gazette Of Wednesday informs, that
Exchanges Eng land aud France have fallen full one
per cent The New York State Bank Is now drawing
on stocks they have sent out all Of which helps the ba
lauces BY the last London packets appears that large
shipments Of specie making 10 the United States
The balance o.! trade is decidedly III our favor lhe
tide Of uod and silver is turned from Great Britain
10 our own shores clear from the fact that from
London, in the week ending goth December, 221O ounc
Of gold coin, and 5000 silver coin, were shipped 10 ~
York, which is pretty large sum Tor one week, "nen
butih bnu mir Of
ness We see that 40 onncss Of gold coin WINS also
shipped 10 the British West Indies. good deal Of
this coin. that TO New York, Is on It's way 10 "a
NADIA The increased expenses OF the British armament
there will make such expectations quite frequent
The ~ York American insists upon it, that the Banks
ought to prepare for immediate resumption, and as.
signs The following tnrclbe reasons Tor IL Let US
take the price OF bills, and as The price oil
spccie and we have for the actual specie quotation
for bills on London, 70 per cent. premium But
the specie pas is about - per Gently consequence,
bills on England now six per cent. below par Can
any doubt that under such state OF things, specie
must flow in here from Europe; the cost OF bringing II
here from London for instance, is about two per cent
leaving profit Of four per cent Tor all operations OF OU
days.-But il may be said, Exchange may rise again.
How, or why; There some 9OO,0GO bales OF COT
ton TO 90 forward, which will nett probably between
30 and $40 per BALE equal 10 SUM Of -say-lhlrty-
millions of dollars. Our commercial debt 10 En-
rope-so long a bngbear-is now we Imagine pretty
generally pad-so far as il is e1iglbe at present 1t Is
certain, moreover that orders for foreign manuac-
lures and produce few in number and comparatively
small in amount. Hence there must remain very large
balance to credit from the sales OF this one article OF
say nothing Of tobacco, naval stores PeltFies,
ircighlS, Nc, &c.
sin The face Of such balance Exchange more
rise than the waters of Niagara flow back into lake
Erie We therefore repeat that specie must come here;
and that in such view of the view clear and
we'll founded as any mathematical deduction-our Banks
bound declare their purpose of resumng at day
mentioned"