Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-04-02
MONEY MARKET.
Wednesday,, April 16, p. M.


change has taken place Money continued
command per the stock exchange aud worth Al
per the dis market Foreign exchanges about
balanced and seemed to be growing firm much
that they ceased attract the attention Of spectators The
for American securities exceedingly dull i'm
poriant sales had rsnspired. The cotton market still
heavy falling aud the manufacturing districts showed
improvement The present prospect that serious differ
il the exists and the improving state Of the
nna markets the belief that the increased export
merchandise will fully equal extra supplies Of corn that
may be needed On the whole the commercial affairs OF Eng
land gradually on the mendng hand
There large business done today sterling bills
yous departure Of the steam boat at the current rates OF
yesterday u cent or 81 IT 81 40, the sterling The
stock market retained nearly the prices gene
rally declined with the exception Of North American Trust
and Banking Co which nproved per cent the ra ties OF
morning board yesterday This stock at s
and fell m the afternoon and has again rallied 4s
cent aucuaon OF per cent in "a hours w. s. Bank deeln-
per cent; Delaware Hudson, cent Sales Of bills on
Philadelphia made at improvement of per cent
The bill which has been before tn. Congress Of the United
States auorsng The Of Treasury Notes to the extent OF
os probably law and the bills will shortly
make their appearance in Wasts.t The bill is different
from bills TO the effect inasmuch as the Seere
tty Of the Treasury 10 authorised TO reissue them when
they shall have been paid into the Treasury In the discharge
there thans Ooe 900
outstanding at one time.
Nearly one half the authorized past due by the
and will be immediately paid to it's creditors
Of which the Manhattan Bank according 10 the comattees
report for 5000 In this privilege of issues have
another Of the projected National Bank Of issue by the
or late the imports have been 30 limited that
but demand nsie has been created for custom
house purposes and the receipts Of the government from all
quarters less than the expenditures This fact, with The
scarcity good paper for viii probably prevent a.
immediate OF these notes to the treasury The amount
H. however sufficient according to Mr. Woodbury. estimates
10 Nj through until the nsamen OF 81 a25Ooo falls due
from the w. Bank in September next but should that not be
the cage e asury paid WILL by their reissue give
him sufficient freedom Of action wants now but TO make
depa at
ton Orleans and ST. Louisana to remove the limitation OF
one year from the act authorizing the isus aud the govern
ment bank of issues established The subeasury b win
its specie caus- has slept undsurbed through the session. o
csue IL was never the intention ,f the administration TO pass
it, ndng the vsporing Of the more radical OF the
pary Necessity has enforced the issue OF bills and u -
easy modify the subeasury scheme as 10 conform TO the
operation Of bank the foundation Of which 10
laid
The effect Of bill. of such bank upon the affairs Of the
country will be beneficial by creating description Of
of uniform value throughout the Union, which has not existed
aimee H., u g. Bank deprived Of its powers national
bank There exemption, however in this scheme from
nat pronsness AID initiation Of prices to which
paper systems that have hitherto been devised liable In
deed situated Secretary OF the Treasury would be at
the head ofsuch Institution and political influence
well mistake the artificial demand er money arising
from vacons Of trade and the movements Of specula
tors the genuine demands Of business the concern VIII
be fraugh with the greatest danger and its explosion form
complete hiatus the circulating medium, from which "ouo
be very difficult In the time there seems 10
be but very little prospect OF speedy res'ors"o"
rcncy. There probability that the Government W."
to exercise an adverse influences until her plans are completed
She stands regard to this pr,s-nt issue OF n nos as
borrower and the whole amount will uhdoubteay pe skn
out orh, New York market Five millions OF IN i'ms
like these be very lily spared The spring nai
"a il ANTICIPATED To be the opening ofhs INLAND navigation,
will We, require aI the funds that can be comr'anded u an
rbe fac, that low the rate Of sterling bills apparently
ia vet largo amount of money sye' due IN Europe By nerean.
40, E. w.. ohio do not remit because they cannot command
80 ,s roo,emen Of business is calculated to place them
mi, renittances will undoubtedly increase. At
the ap esrance Of the government IN the market
q. borrower will in great degree eramr The NOV emens OF
trade.
In regard the Of this state II will
he cocted that bill recently passed the senate OF W"
.o,;,;pr that al banks should redeem their bills in the
v a, discount of cent This bill sent 10 the House
where bill substituted requiring all the banks TO
take notes in payment OF deb and under