Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-02

institution Ike all rotten studiously avoids any pub
iicity of its affairs. Some Of the other banks little
worm eaten We recently expose Of the New Hope
Bridge Company The aggregate shows the New
Jersey banks be healthy condition The specie nearly
as to Of the circulation and the loans show reduction of
nearly 3 cent since 1885, The other features do not show
any material variation
general resumption of the sound banks
the action of the Pennsy bill, if it becomes law will
continue and perfect that revolution the prices Of property
which has been going fer time After resumption
has been effected and uniform currency been restored
uneasness will be felt during the settling of the affairs OF the
broken banks All those the Of which depend the
inflated prices ofpopery will be swept away and probably
two thirds Of the number OF banks remain in sound
condition The conflict between the and old systems OF
banks in New York and the prospective position ofhe Federal
and most of the state borrowers will continue
to disturb and cramp the market but there will be want Of
medium by which the produce of the farmer be eschan
eed for the goods of the manufacturer The currency will be
uniform and the of exchange will indicate only the ba
lance Of trade and the depreciation OF the currency In
section compared with another
The treasury which the is about to issue
will be safe and cheap medium of exchange The merchants
consequently readily collect their jacksonville the ope
ration of the sub treasury plan by preventing any overacon
the part of the banks will prevent any imitation oil prices
and thereby operate benecay to the manufacturers
than could high tariff The real difference of high low
prices if the business of country all confined within it.
SELF would be Of small Importance 1t would be Of no mo-
mentf the price of barrel Of flour called five ten dol
lars thing proportions but it becomes Of ser
If prices here very much higher than in Europe
goods will not only be sent here for sale but will be manuac
expressly for this market In had reached
such height that houses Manchester manufactured and
goods auction houses here to sell for what they would
bring When the Revision came and the auconeers paper
could be discounted and made available those houses fail
ed We will take the of Baker Adams, house which,
dates had failed in Lancashire for f5OOoo This
used send their goods John Hagery to be sold
auction inflated that they incurred little
risk When the vulsion they failed agreed
the & for four years his the third year. and
have failed on both old and obligations Goods here
unsaleable, and will bring nothing auction. The prac
described has been the great of overradng
IL competition against which have had
contend If therefore, by the operation of currency which
is dearer than that OF Europe, Imports while in
of the abundant supply Of produce the real
of the manufacturers than those of the European
OPERATOR the effect is the high duties The
grower will not suffer by the operation the which
not exported will be consumed here
The time fast approaching when England longer
manufacture cheap The consumption
us, the productions and the money prices will there
fore be uniformly higher and rise in proportion
Far different is the position OF this country If the United
States hereafter called upon supply England with grain
the difference between the here the there will
in favor of manufacturers Another and greater de-
nand for coin for export is sprngng up England This
shipment to Canton On the 9th December $500
cleared from London, for that country This will operate for
the benefit Of the American shipping interest, long
the English at with China The American ship
Washington charteredn London, $1,000 per month"; and
all port charges paid to proceed TO China for English
account In this the American shippers will have the
y ing England the Indies This trade
st towards paying of the interest money borrowed
waste in speculation.