Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-02-09
MO N r. Y M n N X II II.
Thursday, Feb. 8, q p. NJ.

MONEY MARK EFT
Thursday, Feb. 8, 9 p. NJ.
Money matters today extremely quiet-Hct ripple APP
pearng surface of affairs The from England
has been ghly dgested-and the result merely
further intelligence from that quarter
The specie towards this country has begun, and in
its effect the price of specie and exchaRge here
will be seem
In the great staples nothing doing of magnitude
The general impression that flour, and other
aples objects speculation must all give
way 10 a certain extent Charleston this Sd, there
gradual decline and languor in both flour and cetton The
feature prevails the south generally.
The principal topics of interests during the morning
the subreasuy scheme in Congress- and the small note law
in the legislature.
Great aoub and uncertainty yet exist both these topics
of passage of the srbteasury scheme wenld
be without cal bearing In the state OF the
country il mere contest prncipe-an abstraction and
nothing else. If foreign prosperous as II
formerly possible that the action Of the government
under subeasury system very injurious to the ex
panens of credits and specuations But the exact result OF
the present laws which hary be increased by the sub
treasury scheme keep and credit in state Of
permanent depression.
1t is matter OF little consequence commercial affairs,
therefore, this moment whether the subreasury scheme
pass or not although may be policy amssg the
politicians TO make a costest about the principle.
The small bin in the Assembly be in the erisi
fate. The Senae's BILL which is in the nature sof
sumption law has passed that body and before the Assem-
bly,. This measure appears talk among all
OF business men, than the sub scheme
The of small bills by banks matter of great mpor
lance TO all purposes retail business The circu
laoa bills and the sudden explosion and panic
among this description Of currency has amply prepared the
public great the Of baaks Some
doubts yet expressed whether the Senate and Ass mby
agree system of small issues but In the present state
of our local currency, conceive that rational men
will differ trihng points such defeat the
general measure.
In relation the prospects Of the spring business we viii
now give few hints TO merchants.
II seems be the general opinion OF most intelligent
the the ensuing sprsg will he very
light and that the supply OF goods small as is will be fully
adequate the demand The inability Of the Southern
Western merchants meet their present liabilities viii
prevent them from incurrpg ones, and II confidently
than tenth part Of the traders from
those sections the country will visit city this spring Of
the Southern states debts Georgia believed
best those in Mississippi AVID Alabama the worst Of
the Western the credit Of Ohio continues good while
nearly all the merchants FROM Indiana ino and the other
regarded with feelings Of dsrust New York
states the credit OF which remains almost
impaired The great prices which lis products have br.ugh
dunsg the past year. the srgenes OF its last crop and the va
rey Of have contributed TO sustain
her during hurricane which has swept The far
generally wealthy, and In the possession OF valuable
uncubered farms the annual Of which suffice for
payment Of all their debts and yield them large surplus
besides The spirit Of speculation which has been 50 peva-
whole country has been felt there very
lived unoer shadeo his vine and fg tree without
seeking for change The pressure in the state has cone-
quen,y been confined almost entirely to this city, out OF !,
scarcely any failures have taken place. In some instances little
addition time has been required by the merchant ana ebee
fully given 10y creditors bat their indebtedness rapidly
Diminishing and will soon be entirely cancelled. Indeed New
York the only perfectly solvent States In
the Union The trade Of latter belongs to Pnadelphis
look the former for all the business
In which We safely eagage during the This
4 with
wears will perfectly safe and will form nucleus around
which at some future Tine the former prosperity ofo city
may be The present state Of hings all events
ONE; formerly plunges hsadong into pecua.
tons IN Rghon lots, sctes the Western prarss but
every one looks well before he leaps signs obligations With
wing full the risk incurred and prepares
1 for the worst that may happen.
We are not sure but that preferable former
false security We then trod volcano which not the
les. 10 be dreaded because concealed Much blame justly
due 4. the administrator for the disastrous condition Of our
civ hut st tive sane time not forget that some
oo- present distress has been occasoned by our own
acts The foolish speeulatons produced by our desire o.
initiating the expenditures aud display Of the hereditary poe
y OF Europe, asd the onares Of our own country ihe
snces which launched, the Disregard o. al
limits expenses. and the consequent necessity esxens
ing business ia order that the profits might meet ihem
added TO irordnae desire for sudden wealth, are among
the which have produced commercial eires o
ero~th has been rapid and unnatural 70 be heay
Like Jopahs gourd sprung mp and persisted IN day ihs
he dsceatinued-we must De con.enl " "
trace our steps, to follow path u good old fathers
like them We must money by pence, and be grateful y
at the expiration OF each successive year, we can sas small
property. We must not consider se unsuecesa,
prosecution Of business an evidence OF ns
talent Orr store rents our expenses must be resueed our
merchants must themselves take the aborng oar asd inea
being strangers in their shops, must remember The old
adsgehe eye OF the msss&e The ladies' also should as
shat ma The fashionable srcsdvsy stores must ma longer be
. .ers they nay he found morning noon and
nighs adding useless articles to their already cversoched