Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-12-22
MONEY MARKET.


fair amount Of business at the stock board this nd
ing presented the usual features without much cha
in rates U. s. Bank improved per cent, North An
Trust and Banking Co. !, Yioksburg !, stoningt{
New Jersey Railroad Paterson Z, Delaw and HUI,
declined per cent Long Island Indiana is at 73i,
cline of per cent from the quotations Of Saturday
Philadelphia were sold at lials dis. 5per cent n
sury notes dis
The general features Of the money market remain
ly the same. Much anxiety is expressed for the ar
Of the steamboat from Europe and hopes are enter,a
that the favorable symptoms manifest at the deparur
the Sheridan, may have ripened into degree OF
perity during the succeeding three weeks and the den
for American produce increased In this event. howe
it is not probable that any great activity will take pla
Ameri securities, that borrowing in any shape
be done to much extent for long time 10 come The
duct osome of the States to past debts the
tons, policy of the great Philadelphia borrower,
the profess ed debt extension system OF the party abo
into power, will be efectual bar to any great
position to loan money to this country. The electo
Gen. Harrison will have effect directly contrary
which has generally been supposed Ifthe event has
influence upon American credit abroad it must depre
for the identical reasons which always govern il
outlay of their money In buying goods or stocks 70
vestment or sale the NEST important consideration
probable supply now on the market, which will
upon the market The fall Of stocks in TIE fore ia
1889 was greatly accelerated by the glut upon the
ket Fund commissioners for states and corporation
the last extremity for money TO pay the interests
debts were traversing Europe, Offering almost any
for money on stocks. Some did succeed and failure
the consequence The universal distress led foreign
itaIiss enquire into the means ofthe States to pay
debts and it was found that in most no means
provided but the profits of banks and railways that
generally unproductive and in most cases speculate
While large sums were necessary to complete the N
works in order to render them productive; and in
cases the banks created by Borrowed money were
IDENTIFY to be sustained BY borrowing more money tn
sness being Improbable. These facts renewed dis
and Barring Brothers then published that famous Giro
in which il was stated that money could be
rswed without the guarantee Of the United States an
public lands pledged for their payment.
Since that time mighty revolution has taken fla
the POLITICAL aspect of the Union, which revoluto
turned on the financial question. The party going
power have held the policy of ceasing to issue stoc
nrovde for the pay ment Of those issued and sy contra
to raise the value OF the stocks on the market The
about to come into power have always held the OF
policy; they have advocated pushing the credit
country to its utmost limit and when At fails, bolster
up BIZ new schemes. Governor Seward, OF this stat
commended last session, an increase Of S3o0Ooooe
, Of this state alone; national debt Of The United
~ an 600 eco is already talked of, and national
s,r $50 600 oeo making $40 900 ,O0o, exclusive of
states which require, and must have nearly as nv
courl,te the works already commented 1t is ca
see that with this prospect ahead there but little
s,r n rise in the value Of stocks The public land
,robabiy be given the States BY the federal govern
,,;,b one hand while with the other she is lc
t,xes ia the shape Of duties, to pay her expenses
,ro,cels Of the public lands will 20 but little
towards having the interest Last year the receipts
loss than s3!oooooo while the interest was $4,000
and will shortly be $40, 600 annually. Under
eircumstancesn is not TO be expected that the sha
credit Of the state sill be much restored
The establishment Of new bank OF large capital
Lii, If the wreck of the old banks will not com
confidence and will also be a work Of tine.
,,yle has frs, to be endured iroTa the old United
RAM which is striving TO have the dcposi.es res
% /, while the New York clique are strongly oppos
!, The oresn OF Wall street clique surmscd a,
ma, IN his senses could think Of such thing, and
is,.llk noxn 10 lie the object the bauk has in Vi
During the pas, year, those banks which have been
on, the restraint OF law compelling them to pay
hav, run wild in their course, while those which
IN, fear of the laws before their eyes, have pre-
a ubolesome. steady, and cheap currency. The
In, 4. table of hanks in the different parts Of the
At The close Of las, year, sseompared with the lat
turns Of the same banks -
strv,rto~ 90 BAxKs prTrrnENr PARTS 90 rfE u
rHE cLosr Last WAR, COMPARED WIN rHr