Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-08-24
HONEY MARKET.
sunday, August 23---0 r. M.


NJ, ;,vsd ner cent Delaw are and Hudson declined
er cent Harlem l. There sales OF Canal hves, re-
deemsble in 1855, 90. Treasury notes sai premium
r. ersyo exchange there is little nothing dong,and
bably will until the departure OF the President
ON The lat proxmo The sales for the Great Western were
lsss than ever before by steamboat In domestic piS
is both account ofthe Increased de-
.and and the decreased supply
In money affairs generally the progress OF events con-
tinues without much variation; capital CONTINUES W '
muate and for desirable paper the terms are very Az"
The operations Of the government have relieved 'he
market slightly by taking some OF the iuie caf''a' ~ "
&c., NJ very low rate Of interest There has oeen
some increased activity in business during the past week.
which has created business paper OIL inc oh''ei
con sderei choice by the banks The pos'oh oi as III
the south will efectually prevent any maeiiai increase
IN bu sness this fall, notwithstanding the evident
Of confidence which business men have manifested III the
last week or two The present feeling has undoubtedly
o,v ont of the increased probability oil the success OF
the ,,ostion at the Presidential election This in con-
ueon it'll the fact that the stocks oil goods In the hands
If ,,orters are far from being large, has caused the
trade 20 come forward with energy and may influence
the importers extend their orders by the next steam
boat d looking abroad however at the condition OF
Tho whole country we shall find little encourage the
s.pectation of large business. That portion of the
trade of New York which depends upon the south,
and west will not in our opinion undergo any
material Those sections have very slightly
diminished their actual Indebtedness to this city The
very abundance the crops has been the of this
In the the trade has been SMALL and the produce pur-
chased from the country has been very low prices The
ac,ua ants of the cities have been amply supplied by
the product of the immediate neighborhood, where COM
munication with the city has been prompt and cheap
The produce Ohio and Michigan have lad to compete
with low prices and the additional cost OF trans
poration has been deduction from their profits The
has been shut out Of the markets. and how
,icth heir
able as a pay ing debts making pure bases
The banks the south and southwest still continue their
and those of Ohio and the western states pay
nominally only There are therefore, indications Of
immediate improvement in those quarters The busi-
ness that in the city this fall will be to supply that
portion the country in the neighborhood which has dis
posed Gifts produce and has the Of purchasing
the cash plan This in succeeding will extent it.
sef gradually until it embraces the whole union, to the
exclusion of the old unlimited credit sy stem.
The principal difficulty in the way OF revival of bust
ness now it has been for the last year. the nsoly
cy of the u s. Bank. This fact is becoming every day
strongly Impressed upon the minds of the business
community. Mercantile men, both here and in Philadel
phia who months since among the most strenu-
supporters OF the Bank strongly opposed to
it the ground present injurious influence trade
The dey elopements in regard to its connection
with the Morris Canal and Bank has also alarmed in
great degree those interested in its stability This alarm
by allayed in consequence of the reu
sal allow Of any investigation into its af
fairs Every mercantile to have become
thai the borrowing and oanng operations of the Banks
have 90 far from beaefung the trading community been
of immense injury it, The vast accumulation Of credit
the foundation, and cannot be sustained unless
by dragging in the real of the country for its sup
port.
The recent correspondence between Prime, Ward and
Krg and g. Griswold, ESQ., is not little instructive
to the history of the times although it has immediate
interest the public. From the correspondence ap
pears that in is3Is the United States Bank loaned Prime
Ward and King, I. w. Ward and Barring Brothers, on
THEN personal ury from 81 900 900 This
stme when the Barings the London agents
OF this bank This fact is instructive illustrating the
hazardous manner in which the United States Bank
poy cd its and the direct agency which had in
establishing clique in this city, remarkable for little
else than and presumption but which has
exerted such mischevous influence the financial and
political asas OF this State The loaning opera
tons, in which the hank engaged, and of which
this brokers' loan is illustration, have made the
meat they fed on" That is the facilities thus obtained
have been the basis Of wild specuations which, in their
turn became, exaggerated values, the basis of fresh
loans. With the revulsion and depreciation in values
this Of credits has fallen back into original
thngness and the only which the bank has of
tanning itself in Europe is possess itself Of the property
of the community in return for its rredeenabe paper
For the last few months has used after obtaining de-
Posits from mercantile to pay out its paper but
marks their checks good the back This avoid
the rapid depreciation of its paper by accumulation, the
amount out being already large constitutes the sole
rency Of Philadelphia. This operation Of marking on
the book is, probably, borrowed from of the nge.
NOUS methods employed to sustain sssignats during the
French revolution, which his In 1874 assgnas had
fallen very considerably; much so, that they were
scarcely available. A. that time Cen Pichegru
HOLLAND with the army the North army was in want
r. Al. -.
The invader issued narin,p list Of prices at which
every thing should be paid in assignsis At the time
he required that every citizen should send list of his
goo3s which called placing them under requisition.
10 case any citizen omitted do this his goods should
oonfseatcd Property, in this way, obtained the
amour, Of several hundred millions Of francs the use
OF tn" amy, and, also, works of art to send TO France
The Dutch satisfied because they had cd seem
insly fair puce in assgnats The operation Was how
ever consummeed than it discovered that
all the assgnais issued in Holland, had particular mark
on h> beck and decree passed forbddng any assg.
mats bearing that mark to BE- agaia brought into Franc
This paper money uggs likely be repeated here un-
less the Puolic ITSELF compel resumption and
continued payment Of specie.
The Of the State Of Illinois against John DrIacd
argued a, Saratoga, Friday Messrs Van Wrinkle
and Gden on behalf Of Dclshell and Mcssrs Kent and
Webster for The state The Chancelors opinion has not
been given but the impression that without doubt il
would be in favor Of Mr.. Dclafed The case was an al,
plcation lor Injunction TO prevent Mr. Deafeld from
dsposng Of certain bonds of the held by him and
for him pay into the proceeds of those already
fvk st.tr.