Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-08-01

The future movement of the exchanges is dependant
the pursued by the United States Bank In re-
gard resumption If that measure postponed until
January next when large proportion of the growing
crops will have gone to market it will prevent any posi-
bility of renewal of business activity in the fall and
will afford profitable of speculation to the sus
pended banks at the expense oithe public
During the past month"; and since the arrival of the Bril-
fish Queen commercial affairs have assumed more goo
my aspect from different The steamboat brought
information that the Morris Canal and Banking Company
had neglected pay the interest their bonds amount
ing OOo and also large amount ofpos notes due
in July and held in London and INSTRUCTIONS were also
brought to Mr. Cryder, who has been in this country
about three months 10 act of committee of ve to
investigate the affairs of the company in pursuance of
the resolution passed meeting ofcredors held in Lon
don the both of June. The movement in this respect
caused developments in regard to the connection
between the United States Bank and that concern which
with the reports large Indebtedness of the ExPresi
dent and theocers Of the bank not only checked all dis
position the stock but created great dspo-
ston TO SELL that the stock thus thrown in the market
added that brought from Europe to sell at any
price have knocked the stock down 10 per cent in the
course feght days The following the prices of
United States Bank the close OF six successive weeks
Junea7, u Bsuk Stock Y July IS u s. Bank Stock 70
'@%yii. Sd 81, 81
The stock four per lower than ever before
with other large institutions, and the general feel
ing is that crisis in their affairs is rapidly approaching
The public have longer any confidence in banks which
do not pay specie.
In State stock there has been but little done recently
prices rather lower owing the fear that the de-
falcation Of the Morris Canal in London, and the large
of State Stock held by the United States Bank
connection with that company, may njure the ayaia BIZ
lyofocks generally London Sales of 81 10000 New
York per cent redeemable in 1885, have been made
at 90; Ohio per cent at 81; Indiana SIS at 70.
The financial position Of the federal government is ra
fher embarrassing at this moment The subTreasury Bill
has been in operation nearly month"; and already many
treasury drafts have been protested in the different
ports In N Orleans several drafts have been
protested and sold to the brokers at per discounts
one these drafts for si57 10 cents The report of
the Secretary Of the Treasury at the close Of the session
stated that IL the u g. Bank paid the bond of 900 due
the in september next and the appropriations
were reduced onciourh there would be necessity for
new grant Of Treasury notes. consequently further
provision was made. There is every probability that
the paper will fall into dsrepute before the
meeting Of the next session Of Congress.
These general financial and the great chan.
ges which they viii probably effect in the few months
have great -ence in checking commercial enter.
brzs There is probability Of any speedy settlement
OF the currohty whereby business may be renewed to
extent that will encourage importers to order goods
for the fall trade Produce Of all descriptions is exceed
ingy sbundsn very large proportion Of the old crops
is still hand while the growing crops promise TO be
equally prolific The disposition Of the banks in all sec
tons Of the country is still to reduce the currency, pre-
paratory the coming in Of the new crops, when, If the
United states and the southern institutions generally
shall have resumed general and healthy movement on
the part Of the banks will undoubtedly take place, and
business gradually revive To show the general move
m.at the banks have complied the following table Of
the monthly situation Of the circulation in the state Of
Rhode Island manufacturing state; in Ohio, the princi
nal agricultural state Of the west and in New Orleans
the principal market In the two frs, states the
hanks pay specie, and in the last they do not
Tux CALCULATION AND THK SrrcE HkLo nv rHE BANKS
~. p,.opr I.t.rp, Ono NEw ORLEANS, oil THE 1sr
p" hA'" w Premium