Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-08-26
Condensed ssement Of the condition. al de,es nfsrvss II
al Rs backs in the United States:

The retsrn estimated returns ouch 90
the States made Within that period It's evil
dent that the prices Of the articles must in great
effect the aggregate circulation.
Prices with great BY the price
leading prodsct cotton, that consist three iour,h Of
exports paying foreign supplies The prices
OF that article depends upon the situation Of affairs Eursps
and their ability 10 creating greater or less
demand Al this present they situation
much prices must therefore be low while the
time the quantity Of produce rs per greater than
year, the present prices expansion
o0s the part Of the banks will BE aeces,ary
transaction Of the business growing ost oft
The greatest dcues which financial system experien
from the unhfu action OF the banks which expand
freely in secsns we'll from the d, sps
sustor who disturb the natural Of market By
shedding back" produce which should 90 forward thereby
creating artificial deficiency the
not decreased consumption Of foreign good.
cause he has received bank paper for his produce and il
possession Of artificial Of paynsn artificial because
the basis stopped its way pay Tor the goods has
summed and therefore useless IL had not bees produc
ed The result that the bank makes double upon the
basis and will therefore have demand for twice
amount OF northern exchange which she supply This
depreciation In her bils and demand for Specie
whsh demand she evsde by sss OF post notes;
ssld st depreciation of rsm 10 10 per in market
whs loses the dieosat7 The trader pays in the first in
stance aud in the prspoonatey the price ofse
goods which he sell. 10 the planter IL the time the
holding SPECTATOR Isolated may make msney but the
the foreign balance is Accommodating against and
the produce stl held back entirely, such prices
chi consumption. The necessary esehangedrawn against
net forth coming and specs begss to 10 Esrope, the
sanAs become alarmed and being convinced that they have Ger
the acccsedaon Of the holder esesded their is.es Of
season. Immediately contract them the proper point The
cry pressure raised BY the SPECTATOR then heard fron all
quarters The regular merchant feels his business has
been closed with ,hs regular
In proportion the restrictive expansive system 10
psred BY the banks Of the different that the specie
balances ascumslae aud require the transportation Of gold
from one poa, 10 another n the banks expanded and
sced In perfect harmony and goods consumed
in any one section than their produce paid for Is clear that
drawn against would balance the given for mrchn
dire and not silver dollar ws~d require displaced
Precisely the does stand foreign relations II
promptly sent forward produce our bills for
ehandre hey fall due specie wesd seldom eros, Allan
tic, would its movements excite interest
The Of trade Cor the coming year depends in great
measure upon the fom Europe but whatever the
from England should be with regard 10 the cr.p the e.s
this ccuntryw be seary the the crop hst We can
supply Of equal to sl6oooooo and the sale o.
cotton will be materially affected because IL the con-
-mptios should decrease England the proceeds Of
large crop aecruug the farmers. will enable them TO in.