True American. [volume] (New Orleans [La.]) 1835-18??, 1839-06-10
MONEY MARKET,
CRY, Monday Evn'g, June lcti,

CRY, Monday Evng, June 18th.
The money and cotton markets to day iousy
depressed ny the unpleasant intelligence fron London
and Liverpool. Tue worst ancipations for the future
are indulged in b, tile most sauguine among
t'ose hest capnh'e ofju.lgng.
Its evident that the Bank of England is determined
% prosaie trade and Keep p,ustrale Mt her feet
The act OF raising the ,a,e Of interest from 10 5per
CENT direct thrust ut American State stocks the
and it was believed in o.lnn tina, they would 60
lower Investment in bills has been more favor
able mode in money dealings in England than in stocks,
and the prospect that atop will he put The fur
Their sales Of per cent bonds 10 the great injury Of
American enterprises.
On the other hand the low price Of cotton may be
party attributed To the fact that the Bank Of England
viii not permit balance he created against Great
Britain and in favor Of this country, greater Than that
witch can bspaid of by the exports of manufactured
Since the I'D of March decline Of Lid per Id on
lower and mddlng qualities Of Americans has been
submitted to in LIVERPOOL and in fair qualities falling
aud fine which were scarce has beeu 8 to 34d. On
TIE 18th May in Liverpoo the quotation for fair
IA to l-2 nominal The decrease in quaint, taken
BY spinaers will average 5000 bags per week since the
I'D al March,
Yarns continue even below the rate .fthe raw mate
n and printing goods are in the same dilemma
They had advices from America TO the 22d Of April and
though convinced of the shortness othe crop the
tent claimed here even by Mr. Note and his party, still
theirs was no disposition in the market 10 advance,
All these thugs 60 to prove the enmty of tho Bank
Of England's policy high prices. There is therefore
anprehend very serious consequences ON the
course Of this Bank. She has struck blow at
our stocks and coOns. Our only hope is that the
Bauk oe the U. States will intepuse obstacle
tire designs Of the English concern and prevent the
almost certain prostra,ion of trade and enter
crizcs destined follow the raising of the rate Of nte
rest on money to per cent.
Our own opinion is, that in less than months time,
We will see cottona drug in England and in this
try and our securities unnotced the ionhon market
Already the shock has been felt in New York. and pa.
mic was expected, Specie in demand for export
and exchange on England at 1863 3-4.
Tie heavy inporta;ions Of corn into England is
element in this course of the Bank An immense
amount ofmoney for this article is one and where The
specie was to come from matter Of serious doubt
Nor does eimport Of bread stu1s cease. sale of
$4,000 bbls American flour SO 34s, duty paid had
been effected in LIVERPOOL. This price would almost
net loss, tho it was hoped that the price would look
We give The ofeting rates for Louisiana stock. in
London, l7th Of May.
Skies 100
Ewes 1913 81
Ditto, 1884 81
Ditto, fSerIing So
For The four "eeks pre-, ous 10 the departure Of the
Great Western, the sales iverpoo had been 81 800
bags. The week ending 18th May there were sold
1853 bales of hch 90 10 were Upland at l.2 to 9,
$50 New t'reans at to II: 1850 Mobile and Ala
bama att Ia to9.
A steady business has charac te,zed the tobacco
market d Liverpool Kentucky leaf had gone at
I'd, and strips Al led. At Amsterdam sales were only
made Tor daily the prices being high for spec
ulators.
Looking at the state of things in England and a,
home, the prospect is gloomy enough. The designs
to crush the American trade evident. A National
Bank could avoid tie threatened evil at once.
The hcns-S of Beyernan and Sicher at Bordeaux
La failed Tor 3 millions OF francs.