Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-24
MONEY MARKET.
Man,yny. March 23--6 II. M.

Monday, March S3--6 +. M.
The stock market has shown change in Its general
today The sales of North American Trust ana banking nave
been large hut in ether descriptions but little has been done
and banking improved per cent Della
ware and Hudson declined per cents Manhattan BANK I'M
proved per cent We shall tomorrow publish with comments
the important tables contained IN the report ohe
late committee The publication of these reports has excited
good of and some Ill feeling TINS Is natural
among those who been in the naer but
the report on the who calculated to be of immense benefit
to the public large Ishows how little interest the
ca community have had institution which has stood high
public opinion Not ten cent Of her loans have been
paper all the rest have been applied drecyto
stimulation Of speculation the initiation of prices and the
of the currency natural consequence If the
same plan be followed out in all the banks and made
public year, is evident that accommodation
paper political loans would to have place the
list 1t is their Operations in this class of which the
wish to have concealed for the simple that if
generally known il would furious their standing This
plain conclusive that such transactions should not
IL the transactions Of the merchants with the banks
confined strictly bona de business operations the pubica
would be service rather than injury and they would
always upon safe ground The instant banking nstu
ton estray public opinion would at set it right
If merchant offered his regular business for discount
and refused and in the report of The bank he should
discover the time accommodation loans TO
mnent politicians had been made the mercantile customers of
the would find to their interest at withdraw their
accounts and with that institution whose returns
showed be the most useful to business The errors that
have taken place in the Manhattan report would not be
their remedy at The Manhattan Committee, finding
that caressness they have aroused strong feeling
public mind have published through their the Amer
kind Of apology for their conduct In which II Is stated
that the Committee restricted 10 report acfs-not op
ons- the information the Stockholders and consequent
they obliged to take the books they found them
complaint that they did not represent facts but they
published that which not facts 1t was their business
that the books correct II they take
the they found them whydd they not take New
they found i'll They published The of
firms having overdrawn their accounts when
those firms had large balances IN their favor II
they report facts why not this fact asceraned2
They close their apology by throwing the whole responsibility
upon the negligence of the Bank Clerks" The injured par
ties should satisfied with this but require correction
N publicly the misrepresentation has been made.
It's stated that money Philadelphia easy
the receipts from the west the
ents produce In this city trade hasno percepby
notwithstanding that the weather has been exceedingly
favorable the opening Of the inland Ii has
boped that by the mild weather. the Erie would
have been opened least BY the LIST April which the
Welland goes operation The financial the
canal have been mseraby msmanaged by the clique that
CONTROLS them that it is ascertaned the canal
pesed before tina goth Of April The whole trade Of New
Nth the Western States must continue suspended in to
mt few more dollars into the pockets Of the brokers Wall
street In October last it is well known that 81 of the
loan for the Canal enlargement negotiated by Prime
Wards King; of this amount Sesoooo not able until
Jv next For Of this the works the canal
have delayed 80 days least and loan for
was taken last wei. by the brokers for the purpose of
6nhnr the before the water is let the
Canal which will require days longer Had the first loan
been negotiated according to law, and the money properly
used the canals would now be and necessity would
have existed the last loan Of 100000 until fall when
il could probably be effected much better This
course would however, have been less profitable the Wall
street clique Their Encouragement in this matter is the
source of eysupplies kept of mar
ket and prices connse preventing foreign
orders produce from being executed The banks
cannot discount dollar The merchants in this city cannot
consequently rese th, debts and than all the produce
Of the west forced from its usual passage through
Canal into the This will diminish the
already crippled Of the State asd be damag. of
millions Of dollars the business Of the State II half
the money spent the Erie enlargement had been applied
finishing of railroads from Albany Buffalo, regu
lar commune would We had all the year round All
this train evils is the direct and immediate result Of the
uence Of the Wall street clique Of brokers the fiscal affairs
Of the State.
Their influence in the passage Of the resolution
in the Assembly favor Of general bankrupt Law exempt
ing corporations from its action This will 70 with
people large The constitution Of the United States
eognses difference between corporations and individuals
In regard There why single In.
dyduas should be obliged to settle their debts and corpora
tons allowed 10 do as they please.
THERE'S yet nothing definite from Harrisburg the subject
of the resumption bill The committee Of conference IL in
stated have fixed upon the second week in October for re-
sum, ton but official report has yet been made The DIS
of the subject postponed in both houses until this
day when probably taken the report Of com
mittee There is little probability Of anything decisive being
done the subject.
The Legislature OF Maryland adjourned on the ai.t n.tant
The bill providing for the OF the State debts has be-
law sets apart for the purpose OF paying the inter
est special depostes made by the State, certain banks in
Baltimore and when these exhausted authorizes sale OF
the stock owned BY the State. The money apart
and the proceeds bank stock supposed be sufficient
pay the the State debt for months
Ne bill in relation the resumption Of pece payments by
the banks passed. adopted with reference
10 them.