Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-06-11

trated the power .f bssks and deprived The tracer Of
the means Of conducting his business we'll Is the planter
the power Of forwarding his crop to sui healthy
This crisis was promptly met and successfully parted py se
Bank of the United States With the terminauen Oh 'hs
movement the character market changed England and
the continent prey the revulsion smanans from
the of American heightened and
by political disturbances and the failure OF the corn
crops Al such moment true policy on the part Of our
dealers bend TO the breeze and by econonisng and
strictly keeping within their endeavor to rsgenerate
healthy consumption Of merchandise the ground work
for healthy demand for the produce unfortunately
graspng policy forcing high prices out Of the
English spnners without taking any thing in return has been
until the expenses Of the operation have been
serious loss to the community large than would have
BEEN the difference in the price obtained for cotton left to its
natural action and the nominal price to which it yet
hoped to bring the English spinners.
The great evil under which the country has labored for the
last few has been simply the fact that has lived beyond
its income This has arisen only from the fact that the
mportaons have been greater than the EXPORTS but the de-
paure of the banks from their legitimate business has diverted
from the dealers in general the profits Of regaar business
the profits of speculative few Yet with al
the advantages promised by the banks on entering tins trading
course the southern country in most precarious posoa
foreign exchange for weeks and
any attempt diminish the immediate assets of the country
that proposed by circular will be attended by flow of sPe
Gle to Europe already the balance of specie against dur
NO the past month"; the imports and exports standing fol-
lows
Movements Of Specie for Nsv York.
Specie exports from 18th May to sth june $540aal
;mports 22s367
Excess of EXPORTS S3ll, 94
appears that specie gradually leaving and under
.ucb be exceedingly
tous sudden drain should place them in position from
which they may find il difficult to An attempt there
FORE to Of 1000 bales equal for
three or four months undertaken with safety Such
proceeding equivalent for the period of its DURATION to
dmnuon of the crop the amount aud could only be
supplied by Of like amount whchs
not now available The effect of the circular of short du
ration and ths morning it had entirely disappeared.
sales at tAe stock Exchange.
90 Bank of Commerce, 1914; 70 do do l02b30 SO do
lss20 do l02b6020 Phenx Blk l06t so do l06 so do
l05s9O; 100 Dry Dock l04sb30 30 National ll460 Mech
Banking Association S96 Southern 79-l5 Illinois 92t-25
Morris Canal 49, do 4st25 Del Hud 74b3 SO do 73ac %
do do 1880 10 do 7Skc so do 7s 100 do 73 $50 do
7 rs do so do 73tc so do 70 6od 2 do 7Sb3050
Farmers Trust ll0s4w-25 Blk l2ic so do I9as60-25
Vkburg IS do 3d. IL do 53 % do 53ib60 % do 52b0
$3.50 rs do do SAT- 300 do 52w IS do 52l0
30 Canton AT 60 do do AIT so do 1880 25 do 44b30
do 4360 so do 423 25 do 4 % 43b30 45 do
10 do 42ftw-25 Paterson 63s30le Prov le5I7oStonon
5000 do 30 % do 32blo IS do 3 35 do ST. IS do
lem Sale so do 64c SO do Sb20 SO do $780, do 5b3o
643 Is do s4nw so so do 34b30 so do 5ibw
100 do 53 l6 do s3 900 do 6ssbw % do 5s}-6e Long
Island 63ls80. $50 do 53s3