Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-11-19
MONEY MARKET.


liability bring the Coumba dates to the 4th via Boston
The by these vessels will, probably, have great
effect upon this market the state Of things the last
dates far from satisfactory; and the turn affairs may
have taken will determine tho continuance otherwise
OF the present demand for specie II the prices ofe pre-
cious metals shall have fallen the continent and the
discount market have assumed favorable aspect
in England, the demand for sterling bills means Of
remittance, will increase is, in great measure
ing this posture OF affairs that tho negotiation with the
Philadelphia Banks has not been finally closed. II the
state OF affairs in Europe to be such, that specie will
continue be the avorte OF remittance, the pro-
Tosed assistance will be Of little avail, as the event Of
the banks here the being pushed to any extent
the Philadelphia obligations may be disposed OF in that
market and the avas drawn in specie On the contrary
if affairs have taken favorable the operation
will hare beneficial influence temporarily upon the
market.
AT the stock board this morning. transactions we're
to the usual extent presenting nearly the features
as for few days back United States Bank imrrovcdt
per- vicksburg per cents Harlem Long i'land Il;
North American Trust and Banking Co. declined per
cent; s,onng,on I per cent The following sales Of
state s,oeas we're made
S5oo, ONO stses, 1889 ..... .......''......' ~!
e,s9 Ind ANA hses. ...'....'s'' 'i....'...i -.
s sSSs DO DO DO ms S Ssy. q
The Howard Insurance Company have declared divi-
denl offoar per their capital payable the 7h
December.
The Warren Insurance Company, OF Boston, auisliend
Of six rer cent pay able on demand
ANss.ssPp paper has the following, in regard TO he
Union Bank ofthsi s.aie:-
Considerable speculation has lately been going on in
the Union Bank money. The brokers' oil View Oh ans
and other places have combined 10 raise the price Of it,
with the view shifting of upon the ignorant and unwa
~ large amounts which they hold We warn the pub
worthless The Federal court, which viii meet in this
city on the first Of month, i'll completely NJ the
ing he inc millions OF bills recciv able wik pay The
judgments that must 60 against IT, AMI which iaey can
never tond.
As , as the Legislature. OF the several
BILE the subject OF the currency appears TO be the hrst
touched In the Georgia Legislature. many movements
have been made TO compel resumption at early day The
Legislature OF the State Of Georgia last has teon The
chief means nearly runing both The currency and the
credit oftha. State. The FIRST thing to he done IS to undo
the work Of sessions and then 10 provide ways and
means for the prompt payment Of the states creditors
in specie Having this the State government may,
with some face demand Of the banks pay their debts in
specie A Law now compelling the tanks TO Tesume,
would he 10 place them and their resources at the mercy
OF the Central Bank which Institution has been IN tho
hands OF the Legislature the instrument run Ihe peo
rs Of Georgia have suffered intensely during the past
wear in consequence Of their dcranyed currency, and
seem now pretty well convinced o. the redundancy az
well as the NAL nistra;on ofheir banking capital
The Message Of Gov. Bayley Of Alabama on the a'tem
tng the legislature Is before us In this cc-umen,
he
and aiso new restrictions their future movements In
January, $40 law was passed authorizing tie return
ndcsnceng Of the State Bonds issued 10 the several
banks In accordance with this law the following bonds
have been returned -
Bank othe state Of Asbams rc,uracd bonds for $4,000
Hgntsyille Branch, .rs"S
Montgomery 1870
Tots. s.ne,Iledaai deposited in the Treasury s'eOoe
Department.
The Governor further remarks
ct will also be perceived by letter from the frsdst
~ @ hs, proper steps have been taken to
rec all all the bonds remaining unsoid nav
rs.his Of s se1 BANK Of Mobile ang the nsygable
state Of the river to be transmitted 70 the psns a ms
pa Cow rsrle esnnos fail 10 have beneficial
.6ec en- the credit the State, and enhance INC value 81
stuck II at any time r"nsy or hs pab ersS Of
the STATE Influenced by constant des,rc 20 tiesstve
hat sresn .na fleets Of the proposition which be
seriously entertained in some poItionso the country or
as, Of be Individual states beg leave sgan TO press
upon ths consideration of the Legislature the IroPrey
Of o,idng without further delay either IN INC mode
rcoje as the wisdom Of the Legislature may suggest,
sinking fund FOR the redemption Of our state stock
This process is most slthy and the real
way TO get clear Of the difficulties which surround the
| fin snces Of this state.
In regard 10 the banks amer recommending that sey be
restricted TO the issue dollar, Tor OF specie, on
| hand. the Governor proceeds as follows;-
Iures.ed with the importance and correctness Of these
| views earnestly recommend TO you the adoption ef
such measures WILL early practicste enabie me
Bank the State Of Alabama and the several
thereof 20 resume specie pay and to continue to re-
deem their notes demand without future
only way ofeaecting this object rs y ps sns
keerns circulation Of the banks 70 the standard oeore
stated permitting then at any time or anoss
any oircumstances ceed ~ Thetrsnssctcn o. msch
too large portion other business on long time oesv
ed 10 have been frsugh with the most pernieious
onences 10 the borrowers a. well as 70 the banks ana
ought in their future operscrs. 70 b. guarded ag1ina
fr es POSSIBLE would also tend greatly 70 psrny anM
the ordinary chsnne Of 70 restrn
the banks from sssing say bills Of lees
than tw en,y dollars and N connection there~h 70 ex
cIude from by efficient Legislation those
pests OF ordinary eireulsssn individual change oies