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

vor Of ws Of a., warysnse against the writ Of
granted against the Warrington Bans
Mianisbury, Ohio; the Granville (Ohio) Bank a
We mentioned Monday the issue Of Poss notes " ~
Bank of Commerce Buffalo This decriPsn o. eu"sey
to be extending At the wsst and should Be irown
BY the Psblic. entirely irresponsible, the o'i" .s
signed by clerks persons unknown, and Of 70
The Of notes adopted consequence
the nasuer in which mos. of u. new baaks have been
organized, which in some has been as ieiows'-
Blank stock has been issued, and saNequ0us nea up
by mortgages unproauctive iaod in Ohio or
These been barered for state stoess wnch nave ecen
Piled. ed with the comptroller for small amount o
The has then gone into bsins a. bank under hs
general law, using means to force oy buying
up safety running the banks and BY ePreciang
their own bills Others redeemed, promptly those sent
to this city country and then forced them of at dis
count All failed 70 make regular circula-
ton profitable recourse is then had to post
notes. signed as above menonsd aad relying their nominal
credit an institution under the general law make them
current We stated time aimee that the New York Bank
ing Company prepared plates for the Of post notes
That institution is organised regular banking principles
has paid up capital Of 81 900 o and specie in its vaults to
the of 500 Oo0 to meet circulation Of $4,000 only
by such would have attached
them weight Mr. Dsa6ed and reputation
nancer and Intimately acquainted with the
change Of the country to which branch the business
OF the chiefly confined There therefore, obvious
between bills Of Institution and those Of the
multitude Of banks started by nameless individuals without
means. Much difficulty is accumulang among this class
which must end in explosion.
We mentioned days since the assembling of the cotton
convention Macon Georgia, the alst ut The following
resolutions result Of their deliberations. 4&
ted s.S Ja, 10 New 9ort which Ia. caused the meeting Of
this Convnton entitled TO the thanks OF every CITIZEN
interested in the cultivation export Of the great sta
pie Of the south.
Resolved That this Convention entirely ooncurs in the
opinion expressed said Circular that owing the crcum
under which the cotton crop usually sent MARKET
the price article left regulated by the
natural influences Of the law Of supply and demand
Resolved As the opinion Of this Convention that remedy
for the evil effective OF its object, il simple its cha
will be found in the Of the Circular
accompanied by exchange which SALE
at fixed date whatever be the state Of the market
in the southern ports earnestly requested the
recommended by this Convention by which they
be certain Of having their cotton held and not forced the
Resolved That the the be invited
concur ~ general OF advancing on the crop as the
only certain Of repleahng their stock Of specie and
of placing t-er circulation on q sound basis,
Resoved That committees Mobile New Orleans
be requested to call meeting Of the directors Of the banks
planters factors and American shippers in their respec.
tive cities early day in November merit that the proceed
Resolved That It following gentlemen do constitute the
Standing Committees:
Mc0eehee, McCsohD, and Jehn Hagan, Esqrs.
For Mobie-H Gwa,hmey, VIM H Robertson, C Lang.
Ter, Faintaine Jno Maysant Dea Franklin Heard
Esqrs.
Burroughs William Paersos, Stiles, Charles Harsrdge
For Charleston CJohn Robinson Rost Marti. Robert
Collins John Kirkpatrick Henry Gourdin, James Hamilton,
Esqrs.
For Columbia, C-wsde Hampton, Wowalace, r SONY,
For Hamburg, C-Henry Schultz Edward Lea, Chas
Lamar, Marshall R Smith, II W solomon, E.qr,.
For Augusta, GsAred Cumming, Paul Ftzsimmons, Geo
w Lamar, Peter Penuoch, John King EsqA.
For M.ledsssile Ga-Dr t Fort, w SANFORD, L
For Macon Ga DR. A Clopos J Cowles, Chas Collins,
Goddard NJ Burch, Chas Cot'on q Moore Edw Hamii-
For Coumbus Ga john Fountain John II Howard DR. tn
Horey, WIN HarOer, > Smith, Esqrs-
Scot, TS o.'s0 Mas. ssS' E.a. '0'' ''"'
Fer Tuscaloosa, Ala-John Marrast, A Battle Edmund
fr,1ee' H hsa.n rsr1M,r. KGot J."sos E'q s,s.
Young yudgeJ Moore, Thos McGee, Major Bluvit.
For hatcher. Mis-. N Ware, Gen Qa'man john Ruth,
For vicksburgh, Mifs-Judge Lane, Mr.. Mcneil, DR.
For Tallahassee ElJe.ss Coe, Edward Bradford, yH
Lorrimer, NJ Gatn, samuel Reed
For ST. Jo.eph. FIT Howard, EJ Hardin. Parh Street.
For ApslschcoIs, FL W Porssr Wood Hiram Nsur,e
D. Goldstsin, w Raney. a. VI
qsessd carry effect the duties ccn6ded them N the
above Report and that tn eomnunicas the Central Con-
me, al Mobile, what they have done the premises that
the be lDced in the public journals Of the
spective States. a.sa1N .1H
Resolved That the said committees be requested cup
ply all which in their bodies
Resolved That The banks and several counties and districts
in the Cotton States requested 10 send Delegates
Commercial Conventions, in Macon, Georgia. In
May unite With that body for the purpose Of taking
consideration the Of the country and the
Of the Cotton Trade, BY which the direct trade with
Europe 10 30 essentially TO be promoted.
thus appears that the convention proceeds with their orr
gnal designs expressed in the famous circular Of July
the whole appearance OF the cotton
Influenced by financial AFFAIR.", has undergone entire
change Prices have experienced great fall through the de
trade and the short crop England and there
every prospect that the will dspress them much
lower The attending this a bear heavily an those
by whom the sought 20 be sustained last year.
and chief Of the suspension Of the
United States Bank in order to svoid the drain Of specie
which the deficiency in cotton means, rendered
~. The Of exchange low, in consequence Of The
scarcity Of money, but the demand Tor bills specie will
quescnably revive the the market becomes little
RELAXED the balance Of trade undoubtedly against this
country In this position how Is IL possible for the southern
banks undertake advance cotton which BY their
agreement they realise funds 10 meet the dema for
bills specie pay foreign debts They must either remain
In state OF suspension post In either
funds the fact OF their iusonverbiliy mus, be at dis