, 1840-05-16

'S 'CHH'hS ~ entering upon Sucn IN IN
vcStigation, parliament had exclusively de-
termIned on Il metallic currency, and on the
present standard of value.
Mr.. Charles Wood. Mr.. Halves, and
Mr.. Turner, anticipated good effects from
the inquiry; and Sir John Rae Reid declar-
ed the Bank of England had not the slightest
objection Ia it,.
Motion from the committee agreed TO.
TmF rlNi.> ~ NEW YorK.--Thc Express
at the 27h April. presents the following
picture OF the business concerns Of New York
al the present time:
II Is a singular fact. that Exchanges on all
parts 81 the world are in favor of New York.
Tn England. France. and other parts of Eu-
rope. bills aIc iuIl one per cent in our favor.
In the West Indies. and in all parts Of South
America. Exchange on this place is above
specie, and at Il premium. In all n,r,s of
riiiS country, particularly AT me Sourh and
West, the rate is greatly in our favor. Ac-
c"rding Ia received notions. all the world is
indebted 10 New York. II this is really So.
We ought 10 he the most ilouriShinr and
prosperous city on the globe, and rich beyond
all precedent. Yet, in the face of all these
advantages. what are the facts. New York
Is more PROSTATE than ii ever has been. even
during the periods of cmbargocs. n0n-inter-
course and war, which prevailed from 1908
To 1916. Real estate is below any point it
ever touched. Fine stores rent for less
rates than ever. For example. those fine
stores Oh Broadway. above the Bowling
'rccn, running through To New street. G,Ir
and SIX stories high. and which rented for six
dollars per annum. now rent for
TX ami seven hundred dollars. In MANY
"!:tS -! Pearl street, the falling offs nearly
II Tic same proportion. The dry good
~..icrc>i. as 4 body, was never more pros
raic, many OF the oldest firms, that have /,
TODD til test ola quarter of a century and
t"Ie. have within the past year. been com
'ciIcd To suspend. Most Of the suspended
"u>"S "l 1881, which got lime To liIuilatc ,
ic" debts, have been unable ia meet their
r>t m"i"S. There Is less buildIu. IN the :
ny than there his been for years. Ne ,
h"nic$ WAGES were never lower, and not .
ne halt oI them are in employ. Good Iolncrs i
re- glad 10 get fifty cents and found. :
Every branch of business aud trade, save -
nj except one, ana that is the shipping. is in i
most uInods state. The mercantile com "
ltInIty. ~ whole, have not mad, their Il
tor two years past and untli within :,
very lew months, The %Shippin" interest has -
zen as bad as any other. Some al our !
nest packets run all last year, and did not :,
AXE any thing, but brought the owners =,
IN debt. The banker and capitalist :,
C no better of, there are comparatively ~
W that can employ money. and fewer still .,
no can give security. The consequence h,
that there Is a larger amount of idle capital :,
an ever has been known. Large sums u
we been loaned AT five per cent per annum. ~
this is a faithful picture, not by anv IL
cans over colored. The facts here set
rth are not hear say, but are within our =
vn knowledge.
IL is Il serious question to answeI, how is \
this with the world in debt to us. With "a,
the elements of health and strength in m
2 ~country-with finer and more abundant of
ops on hand than ever known, yet we are an!
'~rostrate community, confidence impaired req
arge portion Of the population, if not idle, ,ar
t proftably employed. The truth is, the it
up Of the United States Bank, and ed
destruction Of the currency, lays at the
of all this evil and distress. The
nova! Of the deposits was the first step :
i led TO this train OF evils. Confluence
down, all the financial arrangements no.
ween banks, capitalists. and bankers, Pa'
oughOut tins wide spread country is On,
ken up, and cannot again be formed under Lao
present financial system. Hs
DEsrINY.-"Women," SAYS Dr.. Lcibcr W.
ere horn ~ Ln morrjelr