Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-09-24
M q NEY MA II X e r.
Monday, sept. 33.-6, r. M.

TIE announcement Of the failure Of hrm who nave aea'
largely fancy socks, caused panic again AZ ns
change this unersiug Sales large, and the qan
fancy stocks thrown upon the market created heavy i
,he nrc., of that description. United States BANK however
bowed an Of per cent from the sales OF the
second board Of Saturday Bank Of Commerce declined q per
cent Delaware Hudson 81 per cent, Vieksburg "a per
Nobawk per cent North American Trust banking Com
many a. pr cent Canton per cent Boston rrovssnce
v-r cent Harlem 81 per cent
There was very little done after the ooars ana e Va
ouite prevalent among dealers gloomy ieeng' ""e 70
ghtr relieved by in certain quarters 'hA'
fam Enrsnd were confident that matters there were
already on the rise. :. ~
n.eke, ,hiy which sailed some time since Tor nc"
60, ha an hoard Sss eco on Of the Real Estate
Rl az Kinds County Mississippi paper states, that 'ns
,;,uioo had in its vaults $50 0o0 and was entitled 70 ara"
on New York for sufficient TO redeem her enre crc"
,ou which as Sls0O00 The institution wouid thsreore
resume 40 soon as the above amount shosd DC
h 81 the Macomb County Bank IN To are not receVeu0 "
the ether bank. in ,hatsecon OF the country
o,ly .,.,edThere in circulation counterfeit nree
~ nate, ON the Northern Bank Of Kentucky dated August
ss navabe al Louisville. The signatures are very oAoy
dorsThe Bank Of Dansve In Livingston County, having
60, Of s,so 600 has commenced business James Faulkner
President A. A. Bennett, Cashier
r. or,..ure in the money market continues to increase 10
;,;,v and seems to be rapidly approaching point At
an explosion must Akc PiASe N se 49,
,, which are now pressing upon the market Inc iaure
the transactions Of which have been large IN fancy
L ha, gone far to shake confidence IN those INSTITUTIONS
- ,.ceuty made upon the same DESCRIPTION
49, M.nv Of the stocks have for long time been hep'
h borrowing and bosering and thereby being MADE '"s
h Of large operations. while they are IN themselves mrn'
LII, orb,e,s They thus far been kept alive oy inc
-, h., large loans been made spon them oy inu
-: .a yronied men, who every endeavor 10 sustain
80 - turn in the market may enable them to clear
,A..,,,. without loss That period now more dH'Ah'
h state stocks Corporation bonds and e'ner 'ee0
- s .naoub,ed goodness selling alta large and ncre
ao.n These must inevitably absorb all the boating
80, and entirely threw Of the market those worthless
49,. which have long been a burden TO H.
eatsr proportion Of the securities OF all kinds IN our
80. NV, been created within the last ten years. They
rev M under Of prosperity prior TO 1880 os'eeo
~ IN. adv command Of capital offered BY the system 81 open
a;, /, Eusasd which revolutionired IN that year.
e.; h.. the sale ofsocks IN the London market has been
h means Of obtaining the end The increase Of pa
credit. has 10 consequence been 50 great that the whole
.m now ,oters its base and IN its hil, n"' crush ne
mart, and bring the whole to its proper level In order
10 understand the present position Of Affairs now
M necessary to the progress OF the country Tor Ten
- hsel during which period the heaviest increase has
In osper edits. For this purpose we viii COM
- Com oaea sources table Of the metallic currency Or
,h country and Of the paper credits, comprising bank
and circulation state stocks corporation and company
stocks, treasury notes, nc.
h or .p.e,s in the bank. and active circulation IN the
d.. Ga al ais ~ nan 70