Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-05-20
MONEY MARKET.
Tueu<ony Hay 10---6 r M.

Wall street has assnnsd the presented before
the receipt IL very evident that the
elements recovery business this eide
Of the En- land and the United States have the
pest year. b>so both suffering under revuson The
former country already recoverngthe elasticity OF great
capital credit producing its natural effects
The United the ire unscathed but
have, mass credit BY their tamperns with broker
ba and eonuenancag the breach OF contract This loss oil
credit has for many months paraysed business IN this coun
y but the sta snaton OF trade has been ndustousy as
bcd BY ergans the SPECTATORS TO the suspension
Of the NewYors Banks This has hitherto received
den-e wing the general stagnaion of affairs IN Europe
The truth no however becomng evident Money worth
the discount Market but per cent annum and
per cent only ON the Stock Exchange and yet American
able in London they when
the banks Of England expected to suspend specie pay
ens in September last Recent this side
have shaken faith in the integrity oil the American
States and Banks They do doubt the ability
the inclination pay The destructive course Of the
Legs aure at it's recent session. in legaizng
the suspension Of the banks proesedy IN order that they
might borrow from them 80 Of ire deemaoe pap
death blow to credit The brcathed the Of
Porter and Governor Seward aud re-echoed IN the
late report the Canal COMMISSIONER Indicative oil the
disposition long Europe will lend This
conpaned by the Loose principles eyneed IN regard to specie
paymen and the observance Of contracts, OF the
nearly ruined the credit Of the States in Europe
Capitalists and merchants this city, taking the view
of affairs here look with anxiety to the proceeding OF Penn
syyana the question: and revival can take
place until definite has been made Tor the
payment aud the resumption Of the banks
This feeling depressed the stock market to-day; n. I.
Banking Co declined a. per cent? Delaware Hudson
cent; Harlem Boston Providence improved. per
cent; sales Of old bonds falling due were
made par and the bonds at psemur Bills on Poi
lalpha sold 81 81 discount; and on Baltimore ats 81
per cent
O. Baker, ESQ has been elected President of the Grard
Bsnk, vice Mr.. schotl, resigned.
W. recently published letter fr the cashier Of the Cen
trail Railroad Bank OF Georgia who complained hat quoted
the bills of bank discount in Augusta He referred
Augusta pagers r proof thty al in that
city published the quotations from the Augusta
dseount that a. that could be bought with the bills at
scoun of per The quotations made in the Augusta
that the sue Of the notes. They
are irredecn,abie bills, and commodity In
Of taking this OF the value Of the notes.
the har made the irredeemable. Augusta bills
basis and By this scale il that the
Central Railroad bils cent better than the Augusta
hills Augusta, and cent than specie That ~, the
Savannah discount Of cent and the Augusta
notess per cent which is called premium specie What
preusm Central Railroad notes in Mississippi post
notss In regard banking Affairs Of 0sors her credit
nearly bad that Of Mississippi few Of the Georgia
saks have much their credit sustained specie payments
This fact only renders giarnx the
exhibited By the other tanks. Their agents
this city buying their funds al from TO s PER cent dis
and far from preparing to they making
~ecn depreciate their IN order TO fleece
the pahe 100000 stock lies ashonored in the
will follow Mis.ssipp to will he 0corg unless
Immediately taken TO their credit
RETURNS OF rsr GroRera Ran Roam AND B,SxNo Cow
rsSy Ann run BASx IiAwNIss,itL,, ON rms srn
Aps,I, 1890, Az coMsAssD WITH rsr Rruss os Ocro'
Bxn, 1889.