Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-11-26
HONEY MARK EFT.
Wednesd NV. New Z

Wednesday,, Nov. z5--6 r. VI.
In the Stock market this morning. fair amount OF bv-
siness had been transacted and prices have more
firm United States Bank mproy ed per cent; s,oning-
ton per cent? Paterson per cent; Harlem per cent. Del
and Hudson per cent Sales Of Indiana per cents
made &c; Sterling 30 asl. Bills on PHILADELPHIA
sold 2B dis; New Orleans II dis; Bait more
10 dis.
In Foreign bills there is not much doing the rate on
England is 6! per cent? France Of l7t Sis The
Havre packet carries out Sl4s 900 in specie
have received the message Of tho Governor OF Ar
kansas 1t has the merit of being shorter than
Of the description The debt of the state, it
appears, the Both Sept $780, $95362 In relation
to the suspension of the banks he has the following
The subject of the suspension OF specie pay by
banks, is one in which the people throughout the State
have lastly manifested much
doubtless suffered considerable nconv enence il
quence of suspension The resumption Of specie pay
by the parent bank of the State institution at this
place, has contributed but little to relieve from
convenience complained Of as but very nconsii cradle
quantity OF its paper is in For the goos Of the
people and the credit Of our Stats most arGen,y hope
the time hand when each banking institution
within our limits will be conditioned be able to
redeem with the hard dollars, all its notes. they may
presented for pay not in possession any
formation relative to either institution which enables me
TO know at hat probable period they will be thus happily
conditioned The general suspension OF specie pay
by the banks in the whole south and west the
conductors of ours to necessity follow ex.
ample for the alton ofour infant Institutions
The al Assembly will doubtless give to this subeok
full fair and impartial investigation adop, such
will require the banks TO The
lest possible period without endapgering the interests Of
the State and usefulness institutions and to
OF the evil, measures it'll the
importance Of the subject will doubtless be adopted.
The demand for the precious metals whch has
reached extent both the continent OF Ru-
rope and in this has been owing mainly to the military
preparations going throughout the continent War.
like preparations always makes coin scarce but parcu-
lasly gold, which is portable than silver, aud con-
sequently more convenient for military purposes. This
usually creates in England scare ity Of money and sill
becomes article Of export, Of counter.
acting the exchanges by purchasing Herewith the bills
the continent running England This op,r
sis the exchanges During the recent drain however,
silver commanded high prices in ST. PeteIsburgh
nearly all the silver 70 be taken up fer that
market. On OCCASION 50, 0oeo 0o received hy the
sparrowhawk at London from South America takea
by house in London for the st. Petersburg Market
This for silver created surprise usual
demand would have been for gold II appears however,
that the demand for silver has really grown Of ina
portan change made in the Russian currency al the be-
ginning OF the year. On his subject two imperial uhases
were issued the close Of last year the material Points
OF which as follows
l. The silver ruble and its fractional parts in
rculaon henaeforh to be recognised the only 10
gal OF value for the whole empire AM are
be paid in this and all the expenses the
Treasury are to be calculated therein
q The existing bank their origna ies-
tins,ion; that is to say they will henceforth
commercial intercourse; their value, however s perms
nenty fxed at the aabe price OF $50 paper sor
g. In all pay ents person payin has the choice Of
paying in silver, orr paper at the rate Of $50 eoIecs
ties the silver ruble will to be reckoEed - 80
eopecs till the LIST ofJanuary, ls4o
s. All Government accounts and those between r-iyate
individuals as well all and dealings III b.
redue ed to the silver valuta The latest term for this
dueon throughout the whole empire is fixed ol the ist
ofJanuary, 1870.
Russian gold coins will he received and pad all
Government Offices it'll sgio OF per cent. THUS the
Imperial Of 10 rubes in gold to be calculated worth
10 ules and 30 copecs in silver; and the half at
rubles 10 eopees in silver.
:. Foreign exchanges and prices OF meTchaOrl,c VIII
heneeior;h he quoted in silver only.
has been farther resolved that from the st elIanuary,
1870 bank for deposits (eosse de depot shall lie establish
Cd where silver nsy be paid in and certificates 20 cor
Icpor ding amount given in eNchange which will aways
be pay able demand To this establishment merchants
will be attached.
These important changes will be seen, hare created
new demand for silver, which has, with the
trade been slowly accommodating itself to the state
Of thngs. have been kept in ST. Petersburg in
bank notes Rubes since the ukase of ISL and the sill
yer copec worth paper eopees. The raising Of
the standard OF silver has caused the flow OF that metal to
incease ards Russia during the year, am WI pro-
baty continue mp the for the closing al the
trade the The demand thus far has raised the
price Of silver in the PORTS Of Hamburg and lam;
and in France England and this country about pr cent.
The demand for money carry the vast military
mCns OF Russia have also been immense and sue - the
power ofths Imperial Mill, that when money wanted
f,r the armies must be had fthc Of the
country entirely stopped by H. The effect Of this
the tardness with which the continental d,mand
for British manufactures revives the
nense quantities Of coin she lost las, year 1t ia ssuaIly
the case that the markets Of the continent beeeme
gluued with the gold paid out for purchases Ct rom
OF English aecoun IL soon begins to act upon Tire
koi and by invgorsng trade, very soon tuEBs tie cur
rent back the great centre Of the commerce of he
world Thresdneede street. London is now, however,
nearly since the coin in the Bank Of has
bee materially inc At former period has the eank
Of Eng and ound difficult to get back its gold during
n. rast year The usual measures OF restriction have
hitherto failed Of their effect simply because The present
scarcity being created by commercial causes with
Oh, the influence Of commercial remedies; gold absorbed
by the military chests finds way hsck the channels
slowly than whci abst-1ctcd " aten-
yorary de sng.msnt Of business II Les IDLE longer be-
the item of interests regarded BY
with the s,ricness asby commercial Although
the demand for money may cease, the
Of tina. collected will take place until all danger of
war is over. speedy revival Of trade 1t is therefore
not reasonable to expect
Forthe last years the United States the Argentine
Republic and China have been the best eusomsis lox
English cotton goods. Large amounts have also up
the Mediterranean The trade nearly all these roiss
il now stopped The European demand will net revive
before the close Of the year The China trade done
there prospect OF raising the sege Of Busros Ayres
andthe Mediterranean markets not promising these
POINTS usually take 100000 sterling Of English cotton
goods The prospect h therefore gloomy for this branch
OF British manufactures The low price of grain favor
allie 20 an increase the home consumption. Odd not
the structure Of the money market operate agains, Il.