Mobile daily commercial register and patriot., 1841-09-06
Commercial Correspondence of the Rsgtster.)

Commercial Correspondence of the Rsgfster.) NEW YORK, August 27 lS41.
 The attention of our commercial men is still drawn from their business and turned towards Washington, not, however, in anticipation of any 'relie7' from that quarter, but with kind of fear that some unto- ward measure may yet be adopted, that will disturb the course of that business which already promises be large, lucratvesand safe for the ensuing fill. The number of dealers in the city is now large and our merchants express themselves equally disappointed at the extent of their purchases and their prompt cash payments. The illusion that upon the public mind, in regard to national bank, seems 10 have tirey passed away from among practical men. Their experience tells them that business was never better than now and the evil of an unsound currency is ing itself without the assistance of bank. In this feeling the late veto of the President, has given satis faction, not only among the democratic of the people, who were always opposed to bank, but from extensive enquiry we find the same feeling exists mong those who have heretofore advocated such an institution. Those who still believe its usefulness, if permitted to go smoothly into operation, despair, with the cry of "repea ringing in their ears, echoed and reverberated from every quarter of the union that one can be established. Opinion seems have settled down that ''bank of exchanges, according to Pre- sdent Tyler's views, will be all sufficient. By this we understand merely modification of the Sub treasury, under another name, whereby the funds of the federal government will cooperate with the ex changes, without attempting to govern them. For this no chartered bank, with individual subscriptions is necessary, and to this, the veto message of Tyler seems to have confined the "iscal agency" The veto of the bill is confidently looked for The repeal of the sub-reasury bill has placed the funds of the government entirely under the executive, and many changes have taken place in consequence at Boston, The sub-treasurer has been dismissed and the Ame- rcan bank has received the public money. In this city, yesterday the deposites were removed from the vault in the Bank of America and placed m the Mer chants Bank. This is very judicous. J.J.Palmer, Esqr. is by no means a financier of the "Biddle school 5 The selection of this bank, proves that the Webster influence, which was pledged to the Bank of Commerce, for the Barring clique, has ceased to effect the executive measures.
 Money affairs remain, under all these influences, in very quiescent state The banks and capitalists are full of funds but will not move while congress IS agitating. Stocks are entirely neglected and are daily falling in prices. us. Bank has fallen great y within few days and closed this morning at e4 The demand for state stocks has much improved lately, owing in some degree, to the supposed pas sage of the land bill Most all the stocks that were aAoat upon this market, have been taken up for in vestment, at improving rates. Witbna day or two however, the demand has been checked by the posi- ton of the land bill. The clause inserted, that the distribution should cease when the expenses of the government shall require more than average of % per ct. mpost duty, it is supposed will nulfy its eff feet. The State of New York latel, offered for a loan of $3,OO0, 900 without success. The loan was withdrawn and proposals have been made to the banks for temporary loan. This has in part been successful. The United States Government loan is daily offering at 99t lOl, 54 per cent. 3a years to run.
 There has been a fair demand for sterling bills The rates have slightly improved and are pretty firm as follows:
 Sterling . S2 a 9 Francs f5 p 2Ot Hamburg . 352 35B Amsterdam 40 -
 Bremen. 774 77t
 The supply of bills is pretty fair. The amount o western produce going down the St. Lawrence, form the basis of an increased amount of Canada bills up | on this market.
 In domestic exchange there is but little variation Some expectation has been indulged, of an ameliora- tion in rates but without resumption of the inuen- tial banks and the lending points, it is hopeless The rates arc as follows:
 Philadelphia. 8 a 34 Savannah. .34 a 3t Baltimore. ... ? 23 Augusta 6 15 Richmond. 3aa 34 Mobile 8 S4 N. Carolina. .3aa B N Orleans A a 5 Charleston la 1t Louisville. 2 74
 Mexican dollars.l a II prem.
 The cotton market since the last news from Eu- rope, has been much depressed Early in the week holders found themselves obliged to submit to re- duction of cent per lb. This ddnot however, bring forward buyers so readily as was expected. Sales have been moderate only, mostly to spinners. The aggregate transactions for the week, including to-day, are $500 bales, at 8 l0t for Upland; s2 l1k for Mobile; 84 lli for N. Orleans. The stock IS, 33,OOO bales. The prospective state of the cotton market is sufficiently gloomy, and must