Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-11-07

important from the SOUTH
Annexed we give several valuable letters, re-
ceived yesterday from the different marts Of the
south, developing the position and prospects Of bust
ness in Charleston, Mobile, and New Orleans. They
will be read with interest. Things are coming right
again.
NEW ORLEANS Der. q.
645O bales Of cotton came in this day, with pros
pect of 70 600 per week, until the first of January
$4,000 on hand, and yet our banks had the meanness
to stop specie payments You can calculate the
course of exchange from these facts. When you
hear Of the New Orleans suspension, New Orleans
and Mississippi funds will fall very much with you;
but will very soon recover, whether our banks re-
sumo or not; therefore time should be lost pro-
fit by it.
MOBILE, Oct. 26, 1885,
The prospects for large crop Of cotton in Alabama
are every day more favorable The estimate Of ex-
ports from Mobile varies from 300 to $50 900 in bales
The quantity of cotton ready for market in the in
terror, is considerable, but the drought has been so
great and Of long duration, that water
are almost dry, and will require constant rains for
two weeks at least to make the rivers navigablc for
the smallest boats. We SHALL however, continue to
receive 400 to 500 bales per week, from the mmed-
ate neghborhood. Small sales have been made at
fair 1sa ssor wsS
staple of what we have seen good, but it is inter-
mixed with leaf, owing to the dry weather The
weather continues very warm and unhealthy for the
nsR-acclimated, and there are new cases of fever
every day
In exchange there is nothing doing-every eye is
turned towards New York. Our banks will,
derstand, take steps, until the meeting Of our LIE.
gislature in December next. The issues of those
that pay specie are small and the amount Of in
their vaults considerable.
MOBILE, 18th Oct 1889.
We understand that the State Banks in the coun.
try intend to hold out for specie payments-the RI
low that no get at them for large
amounts, therefore, they safe enough. The mem.
bers ofthe Legislature are in favor of suspension,
L.HH LII e 49, kUt IL A..~nA
in December next, and the New York banks hold
out, they may be- perhaps, ashamed Of doing il. Our
cotton crop 10 worth fifteen millions, and the amount
Of bank notes in circulation email There can be
our neighbors; and the power OF the United States
Bank much over estimated, that people think
whatever that bank does must be right and must be
followed.
CHARLEsroS, Nov. 2. 1899
According TO your request, will give you
| can, the situation of things In this State and
Georgia. The only two banks here that pay specie
for their bills the bank of the State and the Bank
Of Charleston. The latter freely, and the former
Neutrality-suspicious. copper coin. The Bank Of
Hamburg and Bank Of Georgetown do not pay. The
other banks in the interior pay in moderate sums,
but would refuse, no doubt, to pay large The
banks in this state generally sound and could be
easily made to by sound and judccious legis
ation. The Great South Western Rail Road Bank
is good deal extended, md If called upon suddenly
to pay, would be unable TO Responsibilities notes are
the principal circulating medium Of this section.
X The Legislature this state may be expected 10 en-
force a speedy resumption, unless the influence Of
the Rail Road Bank should prove too strong for the
Bank Of Charleston clique, who deadly opposed
to suspension Kerr Boyce goes to the legislature
aud is powerful man in the up country. His exten.
sive acquaintance, his wealth, his Office (as Presi-
dent Of the Bank Of Charleston) and the natural
strength Of his mind, give strong assurance Of sue
cess on the side Of a sound currency. We have good
reason, therefore, to hope for the best. While ON
the one hand he will oppose the destruction OF sound
banks Qor his interest that side is too great) we
may expect him to throw the weight Of his influence
on the side Of punctual fufment Of bank promises
As for Georgia, regret TO say that the prospects
not 80 hatering From the best inform alton that
can obtain the monetary Of that state are
in a sad dilemma. The weakest banks have the
strongest influence. The people are deeply involv-
eddrectly or Indirectly their BITS are due abroad
Their cotton will bring great deal more if sold for
deprecated bank notes than for notes Of banks that
pay specie on demand. They will countenance such
paper so long as they can pay their debts with il
and foreigners or persons living at distance woulc
rather lose twenty per cent than resort to the un-
certain, tedious and expensive process Of the law
for the enforcement Of their just rights II remains
to be seen whether the people will sacrifice prin
ciple 10 interest, or the reverse My opinion is
that interest will triumph The governor elect is or
president Of Of the branches Of that rotten
concern, the Daren Bank. Ii is reasonable to sun.
pose that his predictions will be in favor Of the
rotten currency GIasscock, the former member Of |
congress, is 20 be member Of the Legislature. He
is locofocoish but fsnd Of popularity The influence
Of irredeemsble paper-currency mongers will deter
him from carrying out his principles
Georgia is doomed! The rights Of the creditor
will be trampled in the dust Paper will drive specis
to the distant parts Of the earth and promises will
take the place Of payments The people will soon be
in state OF Mssissippi-ism. In few davs I will
start on my annual collection tour through taat de.
voted state and will advise you, from time TO time
may gather information that may be of service 10
your readers. Yours, GALLArIx
SAFE vAuLrs-So "OPES sEsANr.,-The
Manhattan Banking Company recently moved into
its granite building in Wall street, which cost
$4,000 On Tuesday night last, all the money notes
&c. placed in the vaults and carefully locked
up. Yesterday morning, the doors could not be
ppened-they had struck or stuck. Customers be.
gan to crowd in 10 draw money and to pay il in but
he doors would not move inch. Two o'clock
came, and those who wanted money TO pay their
notes, thought the devil was to pay with the Man
haitian Bank. Time began to draw towards three
o'clock; the cashier sent for a blacksmith and had
he doors unhinged. The people then got their
money paid their notes, laughed al the big dog and
vent home. At three o'clock only four notes we're
laid over.
0c,- Door. YArEs has prosecuted the Sun for a
ibe on his character This Is probably the ninety
,iath prosecution that this paper has met with The
asst one cost IL 5000. Doct Yates is perfectly
light. We never doubted but the fracas between
lin and his wife was as much owing to her irnperi-
rus temper as TO his rather liberal principles II