Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-10-01
For EnaI Ian 4


Amount Of foreign shipments, $780,, 3l7
The excess Of specie exports imports up
July om the LIST Of May 1851 that time know
ledge that large ordered from Eng
land hrst began to excite fears that the supply bills
not be sufficient the demand up the appearance
tie CROP Apphenssns were therefore, entertained that
drain Of specie would be the result The crop that
time, eceedngy promising forward The bank. kent
their line Of discounts vigorously low in order
late the demand and the United States Bank into the
market aseer. to extent just sufficient keep
below par Notwithstanding this small amounts principally
to Havre went out by every packet during ut1ost
anxiety was evinced to hear packet Amer
can stocks in London such hopes were however,
al"ed each packet brought Of ,hickenng disaster
in the London MARKET goods began arrive very heavily,
the supply Of bills decreasing, and the first rious
shipment OF coin, made by the steamboat Of the
first Of August at the time that poet By
the T. Bank frst tegan attract attention har qsant,
N aud to Cypress the market by the Of purchases
made in them The u s. Bank still continued supply
with bills and proceeds ia specie which was
taken TO Philadelphia This checked foreign export up
the departure Of the Liverpool the oath August
vessel the u g. Bank sold about $4,000 Of bills
drew tbs amount In specie few days Afterwards city
banks Since that time the institution has
but the demand has continued Increase evident BY the
above table At the departure OF the Great Western il will
recolleced that vessel detained the
press which had been Philadelphia preceding DAY
with the BY the British Queen The resslt Of
order keep back large amount of specie which
would otherwise have gone in the Great Western
The demand for bills is evidently increasing while al the
time the prevalence Of sickness and the low
the south will r.tard the crop
than usual asd that at very critical Great hopes
however nertained that the Liverpool which
been nine days. will bring stock in Eng
land to an extent which will the demand for bills
the crop comes forward These hopes based upon let
by the British Queen stating as the opinion Of
the most eminent 6nancers in England that were then
al the worst A. the Liverpool sailed weeks after
date Of those letters some reaction may nv taken place
are, however, Of opinion that operations in Aue
rcan stocks will not be made for long time Their
credit has been too severely shaken BY the quantity offered
the Market almost term, and instances OF
failure pay the in,res, hs. had serious effect them
This the with the Mobile city sscks and also with
Georgia bonds of these latter there
extent Of o000e; Of TN. $500 900 sold
ds and the interest paid. Il mainly owing this
fact that Joel Crawford Ess who lately returned from
London, failed to negotiate the balance loan Of $4,000
the bonds got from the Pbenix bank Of this city
which has also been paid These facts which will
strike death blow to American credit abroad
TIE prevent the result OF the specie drain, which
likely ensue the mercantile Interests have been sacrificed
The dry good obbers have, perhaps, class suffered
than others They stand between thu importer and retailer
and in the habit Of granting credit easily buyers
TO operate They deposit the they receive for the
guods they SELL collateral with the asctonse and mpor.
from whom they purchase their gooJ. Those
sttery been 81 service to the importer The banks will
do nothing and the country dealers pay ns,hng spt the
crops forward Last year the notes taken by
exchange Dealers payment Of sterling bills bot the
practice discontinued this year In th Of affair, many
failures aud many extensions have taken place.
The soppage Of sales of stocks the London market has
only deprived the hsnks Of spry Of bills but has render
ed imperative ssspenon Of the public works Of the
States Ohio Indiana. Illness Georgia. Pennsylvania and New
York, have partially stopped the scheme. of state
trpes which progressing the basis Of foreign loans
Thu has thrown apon the market large amount OF bonds
TO contractors and airing per cent interest which
selling al four per discount These have been iavorte
Investment with capitalists The post notes Of the United
State, Bank which ceiling at PER cent per north dis
count, have been the Of concentrating specie IN a
dephia from all quarters o. IN. Union Frca Cincinnati Char
sston, Savannah New Orleans, ST. Loa Boston and New
York the current has been setting rhsdeph for the Unit
ed States Bank which institution has also been shipper TO
England, TO extent In all these movements We
nothing but regular and healthy COZ the disease fspe
custioa, whiehhas afflicted the mercantile community long
The time not far distant, when upward tern 10 Affairs
WILDE aiken
setcs at shc stoSk Exchange.
100 torpor on Boud. o1l200 shares United states Bark
IJ1 100 10 l03l20 Bk of Commerce fall ~ DO - ho0i
fedo 91l 20 d. STATE bk ofN yM-bo do d. -d STl nv,
10 10 H. 10 10 o. ~ III az so 10 ST. SOL
20 5sl lC0 DO t6l d. 81 bod ~ 40 "a ~
s4Od ~ DO SOL 10 ~ s63 10 dtss ~ ID ST. 100 ~ 20
A. 81 s0l 80 d. b7l iw0 do Ex 7Ss 10 fa2e ae