Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1839-06-20
Correspondence ofthe Nat. nfelligeacer.
New YoRK, June s.

New York, June s.
A cotton circular irom HrMpHREy
81 BlDDLE. liverpool was os,,,,a
into Wall street yesterday, and created
q great sensation. In this circular, the
offer is to advance two>thirds on cotton
at IA cents per pound. and to hold i;
sufficient time to sustain present prices.
This is done to support the cotton- grow
ing interest against the Bank OF Eng.
land and the Manchester spinners, fot
rs per cent. interest" and short work"
make cotton but drug in the Liverpool
market. II is stated that Humphrey g.
Biddle will take forward all the cotton
IN market on two thirds advance, and
hold II tall it can sustain itself against
the European operations.
The news by the Great Western, of
the depression in the cotton market, the
attack upon American securities, and the
rise Of the rate of interest directed a.
gainst American operations. was having
very gloomy effect upon the money
market. The end of it all il was diff
cult TO foresee, and serious failures were
apprehended. Some power or other
Wall street says it is "the Monster" but
OF this there is no proof-has stepped
into the market, and. taking the great
American staple upon his back, has de-
fled John Bull to do his worst.
II the Bank OF the United States has
taken this responsibility, there is much
TO be said for it, and much against The
interference Of banks i'm mercantile OPP
CREATIONS is. as principle, highly i'm
proper but when, as in the case OF the
Bank Of England. there is direct at
tack upon the great staple of q nation,
SO as to exact from that nation its specie
instead Of its staple. patriotic. if not
proper operation is performed by the
power that meets foreign by domestic
combination. The dram OF bullion up.
on the Bank of England has compelled
it for its own safety to try to turn the
exchanges in favor OF England, and it
looks 10 America as having bullion TO
spare. The Monster" chooses, it is
stated, TO pay in cotton at presen, prices,
aud it offers to draw for any amount at
1881.
Such bold step as this. so character
istic of MIR. BIDDLE. il it be his. natural
iy excites the money circles. 1t is the
great topic OF talk to day. The money
market feels sensibly relieved. The
cotton holders are as happy as Kings
The stocks are SO tickied that they hard
ly know where to stand, but they have
all Jumped up,' and "the Monster"
(Which never jumps has taken strike
OF one per cent. The fact is, the mon.
s,ers OF John Bull and Brother Jonathan
are about to have a little fight, and the
stocks have no doubt that Brother 10.
natban's monster will carry the day.
From CENTRAL AMERICA we have
the Belize Advertiser of May q. The
States of Costa Rica, Nicaragua, and
Honduras, have broken loose from the
Confederation, and declared themselves
free and independent, and have united
TO defend themselves against the Federal
Government.
From PERU. we learn that GAMARRA
has taken possession of Lima Calao
has been sacked. SANTA Cruz arrived
there in British Government vessel in
which were several of his officers. The
affairs of Peru. Chill, and Bolivia, are
TO be settled by general cong ress to
assemble at Lima, it was stated.