Maumee City express. [volume] (Maumee City, Ohio) 1838-184?, 1839-07-13

erpool arrived in New York, on the 29th
ult. after passage of fourteen and half
days, bringing Liverpool papers of the l2th
and 18th. The Liverpool brings news of
advances In the price of cotton, in the face
ofunprecedented supplies.
The political intelligence is not n,eres-
! ting, Parliament being in recess.
Mr.. Webster is IN London, at the Bruns-
wick Hotel in Hanover square. lie is said
to be the Lion of the day, and is treated with
great attention.
The money market is easier, influenced
by the intelligence that large supplies of
bullion were ON their way, from South
America.
The following paragraph, in relation to
American securities, will be interesting TO
the people of the west. 1t is from the cor
respondcnce of the n. Y. Courier, and En-
quirer.
In American securities, regret, howev-
or, to be compelled to remark, that the bu-
siness continues to be eeXceedingly dull, eve
ry description ofsecurity being driven down
in value by the masses of new stocks with
winch the London market has been gIutted
for some weeks past. How depressed has
become the value of such securities, may DC
perceived from the circumstance that the
new Ohio per cent stock, which Mr.. VIII
iUms has lately brought over to London,
has been placed by that gentleman in the
hands of Messrs. Barring, Brothers s. Co.,
and this firm has issued proposal for re-
ceivng subscriptions to the stock, until the
3lst May, at the price of 93, eX-dydcnd.
| For the Indiana stock, which Coz. Murray is
endcavoring to negotiate, it is said that no
offer could be obtained at u better price thln
G3 or 8O.-Mr. Duer, perceiviIg this eX,
IRENE depression in the valne Of American
securities, very judiciously keeps out Ct the
market and probably viii not effect the sale
| of his Kentucky bonds until the month OF
| July, at which time, in consequence OF tic
payment of the half yearly dividend on the
/ English funds, there is usually large
amount Of money coming forward for invest
ment, and all descriptions of securities are
consequently more easily disposed Of than in
ordinary times. Shuuld no further impor-
tatlons of State bonds be received before
that iiod, it Is probable, certainly, that the
market may be cleared of the over stocks Of
securities with which it is now so much op-
pressed-particularly should there be no
material changes i'll general political and
monetary aif:lrs. 1t is, however, sub
iect of very general observation and com
plaint, that so little regularity and judgment
are displayed by those vino have the man
agement of the issues of the new bonds Of
the respective States--for the loans are
generally to excessive amouns-and issued
to an extent very far beyond the Immediate
wants of the State--and without concert
with those who are issuing similar bonds IT
the same time, and consequently, without re-
hectlng in what ,egree, the general masses
of securities can be borne by the London
which the cspital is attempted to be raised.
1t would be highly to the benefit Of the Gre
dit of all the respective states, and OF the
holders of both old and new state bonds
were more iudcious general system pur.
sued and the public works pressed less for.
ward, when Obliged to be executed witt
capital raised at the ruiuous rates which arc
prevailing, in consequence Of the pressure
of such loads of securities as are forced OF
the Lnnd II money market at the present
time. 1t is certainly true, that larger rate
Of interest can be afforded to be paid for cap
ital to be employed IN the execution of pub
lie works in countries, where the return is
frequently so great, as in some of the Uni
ted States, but on the other hand, so exces.
sive is TIE demand for capital for such pur.
poses, that the value Of the state bond'
is bel ng driven down to a point, ut whicl
many well informed persons believe, that NJ
further sales will be enabled to be forced a
any depreciation, whatever, and at this time
aud even this afternoon. money has beer
| borrowed at the rate of 10 per cent, OH tht
deposite of American securities, when thu
rate on the last English stocks has not eX
ceeded % and 3. All this must tend strong
ly to exhibit the imprudence ofso pressing oil
this market, with these new issues of Amer
ican stocks.