Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-11-25
W Ss.,rs,nx. N ,eia :" NS'S


The Stock markettod,y has Undergone further depres
sion. Sales limited, at general decline soninon
fell 81 dis; Harlem dis Long Island dis; Ycksburgt
dis, North American Trus, and Banking Co per cent;
United States Bank improved per cents Delaware and
Hudson Idis Sales Of bills Philadelphia made
81 81 dis; Mobile 3, 3sdis; New Orleans "A dis.
In sterling bills there is but little doing, the ia ST
per The London packet carries out 100000 in sps
ce and the Great Western brings $4,000 which sances
the account
The Manhattan Fire Insurance company have declared
dividend ofour per cent payable the ID Of December
next.
The Baston Spa Bank has declared semi divi-
dend of four per cent payable and after the Is, Ds
eembsr next.
The Lebanon star states tina, the Lebanon Miami Bank
ing Company located in that place, which regularly
chartered by the State with aespal Of s1oo 900 but has
lain dornan, for number Of years. has been revive and
reorg snised under very favorable Giro umanees The Of
h.ers John s. glehar President; j. H. Earl Cashier;
j. j. Bingham, Teller and George J. Smith, Attorney.
With rcercuceto the want and probable usefulness oths
institution, the star remarks as follows
No one can doubt that awellrcgulacd bank will be
Of great adv to the town Of Lebanon and he county
Of Warren. Our canal is completed and gable,
and only be Of service in proportion 10 the amour, Of
great agricultural country, and nothing bat capital
NEEDED make II the point for very eStenss. trade
sns we have no doubt ,ss every department Of business
will be made feel ts vivying influence The bank is
The prospect ola resumption the part the Phadcl
pha banks Is becoming daily less probablethe
tile commsnity both here and at the eastward, have
confidence in the stability Of the RESUMPTION brought
about by the proposed All that the merchants Of
this city want is steady currency, one, the position
Of which they understand and provide against i've
contingencies The resumption will indeed make the eur.
rency uniform but merchants have already been twice
deceit ed in the Northern Banks Twice they have sold
imported goods and manufactures to large amount in the
south and south taking notes payable In the eurren-
y sections land running the risk Of the exchange
in full confidence Of stability Of the banks Twice has
this confidence been abused n the currency again Re
comes uniform by Of resumption based upon Dor
ing operations is in vain TO suppose that merchants
will again the risk Of being again robbed uho expres
sion is not too s,rong by the incspacy Of the banks 70
maintain their position Tho banks Of this cywil not take
the risk Of southern collections the faith Of Philadelphia
honesty II the benks do resume the rule for mercantile
paper must be short dates payable in New York funds
The southern nsolvent banks will gain nothing by sach
state Of things They to be Of this fact and
arc already laying anchor to wndwarj" by feeling
through their organs the state Of public opinion regard
to p,ion With this view, the Courier Of this
morning opposed resumption in article, Of which the
| following is an extract;
1.-THE press Of the state Of Pennsylvania is true 70 its
interests they will call upon their banks not 20
specie payments as is termed unless they feel per;
fctly convenient 90 TO do. The Legislature will sso,
Mise .o.S gS ON cali for
such course; nay the Legislature should go still
should authorsc the banks 10 issue notes under the de-
nomination Of five dollars
Forthe community al large this course Is undoubtedly
better than an uncertain resumption; continuance Of
will gradually and Inevitably increase the dis
credit the nsol,ent banks until they are forced into
qudaou AT the time the real business Of the cous
try will increase the specie basis Of New York The
sales Of the great staples will be made in the currency Of
England The imports and manufactures must be paid
Cor specie currency and the sound banks will new
bv whole real trade Of the country aud force
the irredeemsbie banks into Liquidation On me other
hand the banks do resume By borrowing, they viii OBJ
ts p.i.hsr the confidence OF the seund banks the
eonmuns,y ana ~n defeated in any attempt to sGse
prices by stimulating psculston, Ia order to profit by
the expense Of the public. resumption under such