Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-30
JUST PIIBIIaHED.
NOTICE EXTRAORDINARY.
lI...-I-.. NI....L Oh
MONEY MARKET.
Sunday. March 10..6 II. NJ.

MONEY MARKET.
Sunday, March 29--6 p. NJ.
There good deal of gloom hanging market
terday aceable in degree aspect
political relations with England The agitation the bounda
question last the first blow the high credit
which American securities then Id in London and started
that resuison which speedily carried those banks whose
sole dependence the activity Of the for state
stocks The markets. commercial financial never re-
themselves from that blow and the subsequent events
with whch it necessarily oowedup The question itself
apparently than when the excitement
began but has gathered difficulties by delay and has
this time great influence both in England and the United
States in etardng the return of mercantile confidence The
prospect for revival obusmess in all ha depends
mercia very favorable but the possibility of col
sion between nations closely connected the United
States and Great Britain ofo nature to be Of
SELF Independent Of other quite sufficient for
continued inactivity the part Of capitalists This
feeling yesterday Immediately out of the char
acter OF the documents sent to The Senate Friday last
ana the debate on the subject The effect at the stock board
was to cause decline North American Trust and
Banking Company fell off q cent; American Exchange
Bank per cent; Delaware Hudson Canal Company pc,
cent; Harlem RR Co per cent u s. Bank improved per
cent
In domestic exchange and money there
material alteration. The currency bill which passed the
Senate and obses the banks to redeem their this
city at cent discount, up the House. and
amended in ae morning by requiring the banks
instead of cent discount In the afternoon proro-
son requiring the Banks receive each Others PAR
substituted by vote of 4S to ST. The House then ad-
journed From this it is pretty evident that nothing will be
done the subject IN fact the party power between
the horns of dilemma the subject and it has become
much the custom shuttle off responsibility by the egs
atur of the State either by delay by humbugging the
public that important bill is passed In this the
people suffering intensely from Gisordered currency
The Banking Law has opened for the creation OF
nnumeabe shnpaster In eneavorng to make the
trade of banking free possible the trade money and the
of have been confounded and
Spectators who have money deal wtn take advantage
of the law and making dollars they would make shoe
of the
all to redeem in the city, would if enforced obse all the
banks of both systems, that have large capital stop
They redeem the city There of cap
tai nere sed the banks embracing large proportion Of
the landed interest for the that during the
which attended the of the law almost farm
ia the State became IN other involved in TIE
banks The party power dare provoke the hostility
this class BY the o Law against this large banking
interest On the other hand the continuation Of the present
state Of things will lead explosion whereby the
business community will sustain immense loss, and
those who might have prevented il will be held responsible
this latter result however prospectyee other Immediate
and will influence the party all probability in not passing
the law.
The course for similar rea1ons, has been pursued
in the Legislature, in regard the resump
ton bill The dominant party in that state, at the opening of
the session. professed great desire enforce resumption
They placed however, with the banks hand and
taxation the other They chose favor the banks, and the
resumption bill has been banded from branch to another
until fallen through and session approaches close
without having brought about thing but avowa Of
bankruptcy.
The federal government ofth T. DO
son with regard to the sureaury bill The dominant party
have Ssn "a for II. for They , sn,e S.
months undisturbed The BILL reported does not authorize
the issue of bills treasury notes by TIE government but is
framed the hard money pie of the radical of the
party. This is felt by The government to be inpraeticable
The low prices such will prevent
Imports aud of the principal of and
had toaxaton This brought practically home
consideration by of trade during the
have
Imports and the tins only without
but positively bankrupt The S225 Pensions and
Treasury Notes which fell due March not been paid and
provision has beenade for them Under the
Treasury bill reported this things could not
be retrieved except by Immediately reducing This
foreign domestic political relations will not admit Of The
project the administration is undoubtedly government
bank issue bills receivable r all public dues, and convert
able into specie in New York and the principal cities Of the
Union This plan would be of immediate bene6t
to the mercantile community by restoring to the
its uniformity and furnishing circulating medium in
which confidence would be had I, carries with it. however,
like paper systems, the geras Of evulsion The supply
Of the would be regulated by the real Of
trade but by its artificial wants the eysencies Of the goveia
The different channels Of circulation would thus be-
swollen By unnatural Prices would rise and i'm
until the foreign demand for specie would attract
TIE whole upon the Treasury vaults and drain them Of
their last dollar Iretrelvabc and hopeless insolvency viii
then have entire sway. The history the commercial world
proves this TO be the iuevitsblc result.
The peculiar condition Of the trade Of the SOUTH arising from
mark If examine the facts shall discover that the
ofbusne transacted this year much larger than last
year The quantity of produce which has gone down
TO New Orleans has been much increased while the exports
have decreased with the Cotton which has largely
increased foreign ports by decrease the Northern ports
This has Of the want eon,rtble good
houses have been induced to ship their cotton Direct and send
their bills Mexico and the West Indies for sale and import
the specie obtained for them arrived New Orleans
the 18th from Mexico The Of the market for the pfncs
pal staple prevents tho price the bands
IL.
markets New Orleans the point from which half Of the
whole exports Of the Union The principal article OF
export being and the growers Of that article being the
OF this products Of the both the prices
quantities consumed Of ts other articles OF produce
in great regulated by the Gotten market The fol-
lowing table of the receipts, aud prices Of Of
the principal products of the New Orleans,
October 1882 to the iih March, $780, compared with