Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-26
MONEY 1EAEFxET.
Wednesday, March 2J--6 p.


The market has been quiet today, very little disposition to
operate being evnced any quarter Stocks generally de-
clned the Board Harlem fell off per cent North Amer
Trust and Banking Company per cent, Delaware Hud
son J per cent
The rates for money do appear vary much there is
however increased caution apparent growing Of the
prospect the political horizon The relations between this
country and Great Britain considered certain quarters
far from being amcaby settled, and the dquct with which
the boundary question viewed at this time last by
capitalists, e be little revived This feeling tends to
check any disposition embark in mercantile enterprise.
There increased demand for money growing
the regular and natural trade of the country which, this
of the usually its activity The abom
nabe Encouragement of the affairs of the Erie Canal which
great through which the of the Wes
States with York conducted, of the prnc
pal of the present dormant of business We
before alluded this fact and again call attention
our readers o the subject.
1t is well known fact that Ohio and the West is
stocked with immense surplus crops The destinations of
great portion of this the Northern and Eastern At
anc States To reach that destination there
down the river New Orleans, and thence
North another through Pittsburg and the public works
Pnny Philadelphia and another by the river and lake
navigation to Buffalo thence through the Erie Canal to New
York This last is the cheapest and most direct and n
the Canal in operation shoudbe produce would
be its way, the Western Banks would discounand money
would flow into this marke country dealers would
their purchases and the State be the receipt
tolls meet its necsities Instead Of this through the eup
dity Of those who undue influence affairs
Of the State the Canal will be navgable until the goth Of
take of the other the natural is that
down the river to New Orleans; but Penny vana bankrupt
she is has been the alert take advantage Of the bunders
Of New York. and TO ae produce her Canals
reduction has been made in the Of transportation
Flour at Beaver be delivered ia Phade pha
the former charge cents bae and immense guam
titles flowing through her Canalswhile the Canals of
New York solitude, her Banks doing nothing and her
merchants vainy expecting BUSINESS and
West How different would have been the things it,
instead of sinking money In the Erie enlargement lending
IF 49,. Gt.tat III. Me- D..ln
the line of Rail Roads from Albany Buffalo been con-
tnued and completed Had this been DONE should have had
already three weeks Of active communea with the West
markets would have been well stocked with producehe
foreign orders for flour, Market would have been
fulfilled proftabythe Western Banks would have had
their power expand produce going forward active
marketand money woudbe plenty with merchants As
stands, day is loss The business which New
would have done forced into Pcnny lvaa notwit
standing her irredccmablc currency.
The position Of the banks of the Western States being
PEELED pay Specie and exposed to the drafts Of the T.
Bank which does oslf pay specie has opened broad
field the post banks Of this push paper
The City Trust and Banking Company the Eagle Bank the
Manhattan Exchange Bank, the Farmers Bank of Seneca
County and the Tenth Ward Bank have the
spic these and all down their
bills under protest The people OF the no however
Of the nature Of the bills and post will 20 among
them. The "Greai Western Bank" Of which
recently made mention, has got post They
utterly worthless
10 January last the arrival Of the ship Garrc pub
shed extract from the London Herald Of the 18th Deem
her, which stated that the house Howell James Co Of Lon
DON extensive dealers in Thibe shaw had failed We have
received letter from the Paris agent that house requesting
contradiction of the statement not the
There nothing done today in Manhattan Bank stock
The extraordinary developments made the expose of
that continue to excite good deal of interest and
there s growing dsrus the situation Of certain Of the
other banks which may similar
We yesterday the table Of loans under the head Of bills
not matured this city" We will today give the loans
the head Of bonds receivable as follows:-