The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-11-05
COMMERCIAL RECORD.
MONIaY nrARKEr.

From Bict,lsNa Reporter Of yesterday.
The week that has just gene by, has been one of cx-
traordinary political excitement We have had all sorts
Of stories in circulation and even the moderate Of
citizens have had little opportunity Of attending 70
business Money, nevertheless, has been somewhat
in demand, while stocks have experienced little or
no change. The impression prevails that the money
rates will continue to extent, az the
period for general resumption Of specie payments APP
proaches. Doubts still expressed quarters
the pracucahliiy o. thorough and successful re-
! sumption by all ronetHy Institutions. The argu-
ment held by doublers that under existing cir
cun-tanees, tie loan fhe East viii be oblained'
and that without GIa loan, the contamination so dc
voutiy wished viii not be practicable. Pest Noteshey
say, will not answer the purpose, and they state the
thus-
Suppose Philadelphia Bank il indebted to N. York
600 0O0 and that that Bank, order assist resump
ton, $500 go of the Post Notes of the Bank
the United States, and gives in return for those pos
notes. $500 900 OF tine U. s. Bank notes, payable de-
inand. Suppose, then, that general resumption sho'd
be agreed upon and attempted. Also, that New York.
finding herself pressed for specie, should send from
New York, and demand from the Bank above alluded
70, 100000 in specie. OF what avail would U. s.
Bank post notes be to the Philadelphia Bank unf
such circumstances 'rhey would not h" .,,..aa g.,
N. York, and she would thus, ~ \ ros,,n,n,or have
lHavd hefsefina f,'s;ion 10 enable her Eastern credit
oIs to drain her Of coin. Tie doubters go on TO argue
that banks not sufficiently weak in intellect and
forcthought place themselves in such dilemma and
that hence, general resumption is ilnpracticable
sill, il is but right add, that Banks have agreed
TO loan the u. 5. Bank five millions, in the manner
heretofore described. True, the arrangement was en-
tered int0 under The expectation that the East would
forward ahd assist the by every means in
their power. We indulge hope, moreover, that
plan viii be hit upCn calculated TO ohviae the difficult
ty, should the Eastern Banks be unable assist
the way of loan. Those favor ofa resumption say
that measure and will be carried into effect at eve
~ hazari They argue tia! the Banks are bound by
law 10 resume the 18th Of Januarythat the Cover
nor stands pledged to coercc resumption by every
in his power, and that thus, even were possible for
the new Legislature hestate--they would not be able
10 vote oftwo thirds in both Houses in order
to obVate the decision of the Governor. Public opin-
ion they add is still more powerful than all these ca
sons, and ii will insist upon resumption the proper
time Our Bank Directors generally speaking, talk of
resumption thing Of course, especially those of the
U. g. Bank.
The Money and Stock rates the close of the week,
were as follows:
Money, GAR paper out d0OTsl 6tOs per Ct
U. s. Bark Stock 674a67l
Grard do do 4Od
P.S.-THE RESUMPTION MOVEMENT CoMPLETED.--
1t is confidently stated that such arrangement has
been made with eastern Capitalists will secure the
resumption of specie payments the 18th of January
It ia understood that the debt due the East by the
Banks Of Philadelphia is to be secured by of
Post notes Of the q. S. Bank, is at first proposed.
satisfactory arrangement will doubt be made between
other Banks of Philadelphia and the U. S. Bank This
movement cannot hut inspire a considerable degree of
confidence in monetary circles, while the period
of resumption approaches, we must expect that money
will become less abn udant.