Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-01-06

a
ufaeuring districts; both in England and the continent
showed signs of returning activity. The absence of all
demand for goods from America the greatest check
their operations In Manchester the news by the
showing continued decline in cotton this SIDE and
6rmng the report of large crop, also doing away with all
apprehension Of speculative interference in the price of cot
ton treasured the pnner Of whom began to prepare
10 work full time and the sales of cotton were
large notwithstanding which, the decline Cd from the s2d
November TO the 7th December The prices Of commodi"
generally in the markets. falling giving evidence in con-
necton with money affairs, of speedy reaction
~ this yew England asd the United States are nea ~ IN
the position Money becoming more plenty ana prices
have nearly reached their lowest points Both IN New
and London observe s,agnaon in trade and rise in
sock This arises from the s,asnaton Of trade causing
an absence of all demand for money for legitimate business
In this city no new any extent has been
cuted many The banks have been constantly call
ing their debts and yet they declare large dividends and
fancy stocks se The cause obvious The banks not
let their money remain idle, do they loan il directly
stocks persons obtain short loan readily through
whose hand. money finds its way into The stock market
The money thus loan ed SAFE and promptly commanded but
the employee thus given to it, in the absence of good
ness paper initiates stocks and the readily there has
been disposition to sell time The object gain
by operation, both here and in Londcn TO nciie little
speculation thereby to restore confidence and gradually
promote busaes coin flows into tie Bank of England
the contir the removed from
The result fraught with the danger of stock and x-
posion which may possibly be the case banks will
withdraw he funds from those and throw them
INTO regular business, the growing trade requires.
The returning confidence in American Stocks will receive
by the conduct Of the states here The State Of Penn
svlvana nearly credit 1887 by refusing pay
her stock falling due thing but her deprecated
naner SIMILAR occurrence has again taken place The
Hon Ho,ace Binuey who is holder of Sa0o00 Of Phade
pha city stock refused receive IN payment of the
check on one the suspended banks and demands specie
II, equivalent The continued stagnation Of The
ke and the quent want Of the part of the
stat.s constantly exposing them to loss efcredt In Mis-
s,pp much excl from the anticipation Of the
failure of the Union Bank the maturity Of her post
The President Of the Bank H. c. Runnels Esq, ha, made
attempts negotiate the remainder Of the bonds
without success, and failure seems inevitable.
We have received the report Of the Onio Bank Commits
,opers containing full report Of the banks of state
condition of which have previously gvea The report calls
the attention Of the Legislature to the issue of bills Of reign
banks made payable Banks with the ae and justly de
nounces the practice used to sustain
distant for which there not sufficient horse
The bank of s. Clair Michigan, has in circulation S35OOO
Of which payable the Bank Of C:rceye Ohio
The made revocabe the pleasure of
the redee ming bank The public therefore constantly
posed TO when the out greatest The OF
post nste, it is also recommended to suppress.