Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-08-03

These rate, show further advance the rates the
South and South West quoted las, week. The Of the
South are dependent in great upon Cotton The
disastrous result which attended the pecsatoss
section has materially affected exchange and the rates
particularly on Mississippi than ever bsfsre
The sagnaon Of trade the high rates Of exchange, the
movements of specie and the fcvrsh state Of the markets
all evils which have grown out Of the attempted no
noly Of cstton and evils which will be cured BY the
downfall Of the monopoly The time Of the recovery must DC
regulated the enacy and strength Of the msnoporer
The attention have paid this subject may be estimated
by paper Of the sh Of December last at
which time gave general view Of the projected operation
in the great staple under the head of Cotton Trace Ths
following extracts
The recent Of the United States Bank the crcu.
Of Humphreys Bidde lately published, and the genera
condition Of the cotton trade the attention Of the
unty. The present position and future prospects OF ths
great staple seems however not generally understood The
market that feyrsh and uncertain state which
The great operations Of the years 1885, "a IS and 80
menced with the same appearances TIA. are no" Just visible
The Unlled States Bank forced into the market in 1897
n the best means by which realise the due from
Southern banks circumstances connected with the pros
ration Of business in general rendered it necessary to hold
over ne .does nu. s,s I'M las s roaI
unable TO sustain ITSELF with this large amount oil capital lying
dead sufficiently long to prevent he new crop frsm dePres
the market In pursuance of this impression spinners and
buying brokers ceased operating, waiting for the crop
Humphreys Bdde however, from their connections 81 this
the crop short, and estimating the growing crop at
bales they conceived the design OF again entering
the Market in order to prevent the crop from being
brought into competition their stock. There are
however, those among the large dealers who convinced
ing districts, that the above estimate the crop
and therefore, sk forward to the time when the firm must
break down under the weight OF an stock The
general appearance sf the commercial warldthe clemens in
notion TO- reenerains seassn of Prosperityhe great de-
mand for goods this country and IN Europe
increasing consumption OF the matera-a these cir
combined with the fact that the above
Of talent and capital brought to bear in competition tins
staple produoa Sufficient guarantees that season Of
speculation hand which wH Ia rapid - ito 1ees,
snd dssrsus ITS results, then whcA hds gone be-
fore a. In the rtunes viii be made and The
skfui end Svuden Aemsslsss
The greatest losers will be the shipping merchants and brokers
OF this city who viii mis-. the commission, incident on the re-
shpaeut Of cotos o this port will the hands Of the
above large operators direct from the southern ports
We seed cay that these opinions advanced at the
Of the cotton year have become history much
than We that time, anticipated In the article from
which these taken, gave the Of the Prn
epa Liverpool hosses and the amount Of cotton held
by each adding sketch Of their projected operations These
prose have been carried with various according
to he ability and means OF the actsn
The opening Of the coming Cotton year will present many
change. desers and their policy, taught BY the expert
ssee OF the past extraordinary year. which many have made
money and Gar greater number have Lost their capital We
are preparing general summary Of the trade, and collect
ing information with regard 10 the ofth ensuing
year. which will be ready for publication In time for the sail
g Of Liverpool which time the present year will have
nearly closed We shall then stand uPos the threshold "
year, with data in possession which will enable w 70
rive forecast ofthe trade with gres. precision
Looking through the embarrassment W eh VII undoubtedly
attend the commercial world both here England during
the csning weeks befor. the X Of former TRANSACTIONS
shall have been cleared away, beyond fut,re Of
snramred prosperity. heightened and strengthened by the
bought experience Of the past two in which have
been taught that debts cannot be paid By borrowing
s,uti.na disease cured by quaekey The natural causes
which espb.ed to the existing difficulties have been
more than removed BY the bounu harvest 10 England and
unersmped crops Of both and cotton IN this eOuaiy
Oar real wealth. which agricultural great at
present The active trade insured by the falling prices will
render Il ssefu asd enable the community TO enjoy IL
Tn. following statement Of the principal points Of the
Maine Banks semannua returns Of which have just