Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-11-09
N ONEY m All X e II.


Friday, Nov. 50 T. NJ.
little reaction and greater frmness was manifest al inc
Stock Exchange this morning United States Bank improved
per cent Delaware Hudson per cent Farmers do
1t per Harlem u cent; Utica per cent M'nAwk
a per cent Corporation Bonds declined Per cent
There generally no change the rates Of domestic e1
change Of money There every prospect OF an
increasing the market Sterling exchange exceed
ingly PLENTIFUL and the supply constantly increasing Specie
continues from all points 100000 arrived here
sday from the SOUTH Mobile paper states that 81 900
was shipped from that city for New York, the 2sh ult IN
brig Aebs The high position which New York occu'
pies by her maintaining specie payments rapidly
producing natural results in concentrating all the pro-
Of south, and making this the theatre for nego-
atng all sterling bills, drawn against produce sent 10
Europe aud all other descriptions Of exchange, tor the
reason that New York funds specie basis and
par with those in which payment made abroad and are
at great premium those points where they drawn The
deprecated money Of Philadelphia is no better than that Of
Mississippi therefore, bills sent there for negotiation
=, formerly but are New York. The amount based
mon produce larger this than last BY OF
the necessities southern holders causing il to be hurried
forward All this increased supply thrown upon the New
York Market and applied solely to the payment of mecan'
tile debts for the that The u B. Bank cannot now
drain market to meet her necessities On the nth Of
October expressed it opinion that in short time the
suppy Of bills would the demand and made the fol-
lowing estimate. During the three weeks at least
$1,000 900 will require to be shipped To meet this we shall
have Gotten bills, Si,OOooOO
Bills other produce oOooO
And the B .nks m ay supply 100000
Making supply Of ss,oooeoo
The bank. nay hi. without any great aeonvs
nience."
The of this estimate doubted in certain
The Charleston Patriot in particular thought II too
high Let US sec il Is borne out by facts The banks
have furnished their drawing against stock sent
BY the Liverpool large amount Of drafts from
Canada have and the market The reports ship
men Of produce the SOUTH show the quantity for
ward larger than last year. and the New York custom
house for October increased EXPORTS ami the sup
ply Of bills which has been tins market since cur estimate
Is As follows:
New York banks, against stock i,o0o0o
On tobacco from New York and New Orleans, rocco
On rem N York and the south 81 900 bales l75OOOO
On Ssur from N. York, Philadelphia and Baltimore,
IN a.nsr srt;sIe. a.bes rice SC 5000
s4s45OOo
Here will perceived that estimate has bees exceed
ed nearly so per cent result that the rate reduced
20 1854 for the choicest b and will range low loaA
for good BILLS Thi, low rate is Doubt owing to
the great the part Of purchaser and n the
market were easy probably rise to par, which
1921 for short but the advsnce' the supply
~u.t become greater and the demand less With this
,et before them banks Of this city WILL doubt begin
expand TO moderate extent The position which the
o. Bank occupies the desperate attempts she will
doubt make herself will any great degree
Of bsraty on part Of the banks for the present. Aer
the .ps Of few weeks when the SQUAD banks Of New Or
eans and Of south generally have had time TO
themselves and etrace unfortunate step they took
psudps the combined energies Of the solvent institutions will
soon put Ass dN csss and leave clear
field fos the successful prosecution Of healthy business
Their. s however another dieulty the way Of old
q. ~ s~f.v ind
anon The public mind By equvoca the thousand
and sne associations which constantly spring
ns p under the law The most Objectionable
.dna, i the post notes. such We described yes.
terd.y These designed mostly for circulation In the
Western States the nature Of the Law Is not 80
clearly understood. The post notes Of the City Trust and
Banking Company" which yesterday copy, have
to the amount Of $4,000 to in Green
wieh street whose is in possession for the Pu--
pose Of among the miners In rotsvs Pa The
stock OF has been partly filled, chiefly oy mort
sages Of which property IN Ph'Iadepha where
m. post notes be also circulated and 100000 more In
Baltimore Another institution Of this city, called the Man
Exchange Bank has also made large issues Of post
notes, which w.re the for circulation The fol-
lowing are letters the subject from two officers Of the IN
.,ituiion AZ they appeared in . Buffalo paPsr:-
MArwArr,s EIcHAsoE BAsx, No. q Franklin sqsare,
New York t.eay TO make a. sv 'urmss ana ssr the
nor, against neighsor II tie sprit fthe day TO attack
every FORM and hence probably has come the article
in the Buffalo which you Published yesterday In relation
10 the post this bank obvious that on the face Of
there nothing fraudulent and noth,rs 70 stcit. suspicion
An ordinary time. son6sc.cs ard good win sraong
= so certain who know them that the men engaged
10 tk. banL would be- and not, engaged IN thing
fraudulent This institution has been got up under the
raj banking law and according to law and amply secured
for all its obligations. l.. ID. DEWEf, PRESIDENT.
To rsr rysL,c.- Undertaking that post notes Of the
Mashssn Exchange Bank signed BY me, which were sent
40 the western part OF under specific stpuaiions
have been put circulation contrary 10 agreement and with
out my knowsdgs consent take this method OF apprsng
the public have resigned place IN this institution and
have further interest In H. rPe the idea Of any decep
ton or inprepuety 10 their issse VIM > DARLING.
IL assumed by Mr. Dewey that the issue Of post notes Is
according 10 law which not, however, TIE The Law
expressly states that all paper put in circulation money, By
institutions dong under lie sanction sha be sgned
~ the comptroller and be made payable on demand
These movements Of the small FRY have seriously incommod
ed the movements large institutions Of real capital,
which would .,herse have been OF essential service t. the
community The New Ysrh Banking Company that designed
10 sue post notes e large denomination have deter.