Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-04-04

the South Although the purchases goods the Northern
ports have been small this spring the Indebtedness of the
South the North will increase degree by of
the large crops the transportation of which done principally
by Northern vessels aud than usual quantity sent for
ward Southern account Freghs have to exaor
binary high The whole of cotton will be oooso
bales lbs The aggregate freight this win be near
SIS ooO a4Se proportion of which will be earned by North
vessels the time the purchases Of produce the Sou
the ports Northern account have been less than usual
This largely the cash balance against the South
The Secretary of the Treasury made his month returns
ofTeasury notes The amount outstanding on the LIST March,
IT, amount oai:,aadinc on The Is. Apr a.
Amour, redeemed in the month Of March, 7siaasos
As the law allows of the OF notes paid pre-
tn. monthly report hereafter will include the statement
osueh amounts resued This important feature aud if
business brisk the whole might be paid and
issued FIVE times in the OF the and would
of the nominal
amount.
The much talked Of and much needed Bankrupt bill, has
introduced into the Senate Of the United States by
Mr. Webster. The bill brought forward by him, appears
to be concise yet embracing all the desirable points
provides for Of bankruptcy, both voluntary and in
voluntary provides for Of present insolvency and
for those Of future insovency away with all pre-
erences hereafter be made but takes notice Of such
have been heretofore made. There to be no
direct suson To any distinction made between corpora
tons aad individuals in regard to the payment OF debts and
probably such distinction will be sttempted The bill pas
readings the Committee Judiciary
The distress which prevails in all sections OF the
country has made the proposed law exceedingly popular with
all parties, and there great probability that IT will
The position of the nsoen banks throughout the country
loudy calls for the intervention Of such
store the currency. The State Legislatures have all hecn
in session. and have all pretended to enforce presumption,
but FAR from doing those composed Of the most an
bank have passed in Of the spccua
tors than against them. Mississippi IL instance Of this
That State has suffered than any other the Union from
Tired currency and when her Legislature met
posed was who proessed opposition to all Banks
baE
debts So far from that the most material law passed by them
repeating the which obliged the Uuon Bank to
pay per interest all notes. for which she refused
to specie This vetoed BY the Governor P,nnsylv
MIA kept the country excitement for months, Ia the
peetaon that the resumption bill would They coaeu
ded the by giving banks longer time than they at
first asked or The currency Of all the States daily be,
coming worse and there hope OF restoration Of unfor
nifty but by the operation Of Bankrupt Law. which will
pei those Banks which pay their debts TO wind up aud
discontinue business The whole amount Of loans due the
banks in the United stas sos 600 ooo at least ore hall OF
this will under the operation Of the Bankrupt Law rms
great dmunon in the will nearly half OF the
banks be wound up The law in all its ram6caonw cause
and great revolutions throughout the whole Union IL
will conflict with the law Of New York regard to landlords
and tenants The landlord will longer be able TO seize for
rent to the eNeuson other honest ia, bill pro'd,s
for the equitable distribution Of the prop,ry Of insolvens
all their honest creditors proportion 10 their debts
The sales OF public lands Iowa the 10Th OF
March, and during the first four had been received
Of which $4,000 were in specie.
The Boston banks have declared dividends
able the 9Th inst averaging about per cent notith
standing the hardness &C the times We have received the
port Of he bank commissioners in relation to the winding
those banks whose charters have been declared null void
the The following table Of the reduction OF
liabilities during the past Year,