Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-08-08
II NE ~ -
"wednesday, Aus~se $500

HONE ~ -
weAassAsy, Aususe 5-Sr. ~
r.. !, ~. Steel Exchansp hss pot bsss lasge and
,..ryoa, bat ltts change Bank Of Kentucky fell
~ o.r ce.t. Canton Co. per cent; stonagon improved
There ha. bssn but small business done 10 s'e''ns
. The u s. Bank selling at %, $3.50 " per cent
A. a AZ cents The scarcity Of money SAGA '"s' 'ne
, hav. bsen limited although private bills have be'n o.
fred !. low - per - 80 cts the sterling Inc
Ipdependence for Liverpool carries out $i4O IN specie
IT, dividends been declaredThe City Fire
Company per payable the 18th inst The
u.Lak and fIadson Rail Road two and half per cent Paya
HE At the Dry Bank the Goth Instant The Bank OF
per payable the Merchants Bank on the
al nroximo The state Bank per cent able
at the Phsnix Back ID September
There haye for days back tranrrsd failures among
the weaker portion Of holders which failures an
tcipated considered inc table, but hopes INDUCED
MAT the larger would be enabled stand through the cr
sis During the past days. however, the failures have touched
heavy houses important deaers have yielded to the
in hi, city large house Philadelphia went down
Yesterday This connected with an eminent
pool house, AID early soppase here It was hoPed weso
save English Events are last rlPcning 10
The mysteons Of specie which have recently
taken place the open recommendation to ship spece Tue
evident attempt conceal the fact the part Of those who
have Obliged ships ths noportune runs which have
taken place dsre quarters, the continued TALL
in prices Of stocks merchandise circumstances which
have all conspired hasten the explosion Some months
since when views that such must inevitably DC
the case accused Of makng at that time there
was disposition speculate, and buoyancy IN the markets
which i'll timed aud calculated to increase the difficulties
which were plainly approaching The Wall street press
we're naustrouy beerng the markets and condemnng the
city banks for expanding cuators all sides were
ready to dash forward their wild schemes Such being the
case we duty discourage the feeling U"der
this impression held the following language in eur article OF
April2
There large quantity Of cotton held here which must
thrown the market event which viii alone
cause great the price Of the article here money Is %
scarce holders will utterly unable to hold on any longer
The fall difference in the anticipated credits
Of inst in country who depend upon
thea to meet their Immediate liabilities.
condt the exchange market Tor some time 20 come
cannot be such Of large mporatons specie even
shoald political difficulties entirely cease Utter bank
ruptcy seems therefore, on the point 81 hssn
only by the OF that caution Tor when ey nave
reviied ter return to specie paymen
to SPECTATORS expressed through
their organs in Wall street.
The old banks Of the uncertain prospect 81 our foreign
trade were the remotes return to specu-
ave and TO discourage the nportatons Of large
quantities good, while the southern banks profess' their de-
back cottoA well that by pursuing
contrary must be created against the coan.
try The will The correctness OF ms Poston
with large stock goods hand the prices Of cotton must
fall in the hands Of the holders thereby taking from the
Of paving foreign debt The ability Of the southern ana
bass to undertake this holding policy
now ys, strongly doubted all their means having
sustain themselves In premature resu&Pon
The result fully justified view The crisis has how
ever been more than anticipated at that time
Its inevitable approach seems now to be creating an
alarm which be or services and may do much
harm by depressing the markets than necessary and by
creating too great vacaon etard the settlement Of affairs
A, matters stand the mischief has been doae prices have
fallen and the been insured all that remains to do
is to meet promptly aud clear the wreck calmly
The deveore which will take place in the next lew
weeks will undoubtedly be such little anticipated by the
public but they will involve the ruin Of speculative class Of
banks and Dealers better out Of the way The COM
uny at large may hail the event the downfall Of monopoly
ana the CONNIE nceras of free trade.
The returns sf the BaAks under the law have been
nearly completed There few however, which have not
svet made their although the law expressly requires
under the penalty closing Of the business BY the Chance
Tor that the full shall be published within the month
Of July in the paper and in paper published in the
Mace where the bank situated The Comptroller should
enforce this Of the law II Is enc Of
the which the public possess that the banks
are we'll conducted The following the leading features Of
ZACH Of the Baaks under the law have made their
se mi. annual returns:-