Morning herald., 1839-08-28
m d N &c "a vi a II KE 4.
Tuesday, August 25-6 r. M.

Th Ia. n,.n rather more than the usual depression at
the stock exchange today Sales have been very small anu
prices have declined FROM to cent Del ana Hudoh ae
cned per Dry Doch per tent Ma T. and Bk. per
cent Harlem per cent Canton per cent AT Augusta
on the 2d sight exchange net to DO had at Tree
sight Ia. rate pc country notes and "a perct focy
noesat all points throughout the South and west
the money pressure is increasing in severity.
The fall in stocks today directly BY the fact
having that the United States bank had made sp-
Gle upon the debtor banks Of this city to the amount Of
s5oeooo These part OF the system of settling
Balances aud concentrating specie, incident upon Inc time o
year. regular state Of business The operation is pre-
paratory to expanng the opening Of sui
The u Bank backed out Of the Cotton .peeua
ton. with profit one to two million dollars since then she
ha, gradually falling back regular state Of business
Of outstanding debts curtang loans on
stocks and placing her affairs in position to commeace the
opening year with sgor The field for action before her
very large The the South larger than beore
but unfortunately for them the banks of that section have 50
conducted their affairs that they poweress as Anaacia
agents The planters will neither take post notes for
cotton bills ofe Southern holding convention Seme
medium therefore be provided and the u
standing good repue home and abroad her notes
will be readily by The Southern planters, who will give
them circulation which will be highly benesa TO the Bank
This mediun o circulation will be required by the middle Of
October and unusual amount fpece will be required By
the bank sustain accordingly perceive that from all
quarter Of the compass specie flowing into her coes from
New York the proceeds Of the exchange drawn against her
European assets taken Philadelphia in spece her
Southern balances required h medium, and the
Western financial contributing their proPortoa
The specie her Golfers has been increased
$2,os0O0o within fortnight Thus
From New York, SLIGO 900
the South, yia Baltimsre, 3oOeOo
direct 10000
West, via Gin a,innat o700OO
Total increasu Of specie, S2O2o0Oo
At the the entered the cstion market
it. had hand specie 81 6Ss 4ls, with aeirculaos Of
Sll or near dollars circulation to OF specie
Her aggregate pece hand and at
the ratio may safely expand the crop 10
335 discounts confined excusive, to producer
and all borrowing operations are avoided
In all former circulation has exceeded S22
100000 and il sposoe, for the coming year II may not en-
eeed sl60ooo0o This will however be quite sufficient to
give perfect to the market in the South
The process necessarily fatal to all transactions OF indv
duas and companies hitherto existed by borrowing
II therefore surprising that those stocks like the Deis
and Hudson songtoa, and Others which are not only
worth innscay notug bat yearly creating new stocks
pay the losse, their transactions should fall price, The
United foeclong the mortgage on the
stoningtou All who have hitherto lenders now
auxou. TO withdraw their from the ruins Of the old
pcsons and concentrate them in points where they will
form the basis Of fresh ISSUES, made upon the new crop
The losses aimed by Withdrawing from old operations
will repaid by the profits Of the large business Of
which growing crops will be the basis Our exports for the
eosg year will be very large and !. always the the
imports will be reat in proporos, and, as the year will
with prices their lowest points, is clear that the
markets throughout the year must be- generally speaking rising
sne.
The following table ofmPors and esportsfo series Of
years. ending the 1T October Of each year, and aso Of
the bank oaIs and circulation at the close ofhc