The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-04-01

Taursday, March 3l--6 r. NJ.

vi
ly gave way. Long Island 1t Mohawk d American
Exchange Bank I per cent Illinois 81 Ohio 6's II
Delsware and Hudson rose II Indiana SIS t. United
States per cents quoted at 30 o. ten per cent
discount being all that offered for the securities of the
Federal government leaving six per cent interest =
Bills on Philadelphia at. A. Boston, yesterday, sales
Of $4,000 Massachusetts, per stock payable in 1857,
coupons attached, sold q, auction at s6a per cent
Those Philadelphia papers that year since were
asonished at the wisdom ssgacity, and public spirit Of
the Legislature Of that State passing the law aatho
sing the emission of the relief notes." now full Of
sympathy for the mercantile community whose business
has ruined by those very Those notes are the
ulaton the interior and received by deal
pay of their debts. When the dealers come
to the city TO pay their debts they find that the paper
they hold is nearly valueless They can therefore nell
tier purchase goods make pay ments The result
an utter sagusion of all business The same
10 greater extent in all sections oil the
country, and unless the dealers insist on payment
in specie they twill be ruined 1t is in vain to say
that they can get other. They had far better
take nothing than irredeemabe paper, and when
they refuse it, the will refuse it for produce
This simple will at once give them good
funds and should be promptly taken.
Tomerrow the quarterly of the State and city
Of New York falls DUE and will doubles be paid to the
last farhng Also that Of the Feds, government-pa
Of Massachusetts and land sterling interest also
falls due. These dividends will throw little money
pom the market for investments The defalcaon OF the
collector OF the city will have influence up
the pay Of the interest due the City debt pay
able to morrow, at the Comptroler's Office.
In the Harrisburg Legislature, yesterday the bill for
the payment of the domestic creditors Of the State in
per cent State stock-stoppiag all the extensionsdis.
charging all the engineers in the State service but
and prohibiting the issue of the remainder of the 4h of
May ISSUE passed by vote of 81 3d. aud sent to
the Senate The per cent stock selling at % cts on
the dollar.
On the eth Of February last we published the report
Of the Indiana Committee Ways and Means, in which
the impossiby Of payng the state debt announced
That report was carried to England by the George
Washington and Of copied from this paper
into all the leading English journals and produced lis
natural effect upon the market and defeated the schemes
ofstockjobbers Their ire consequently excited in
high degree, may be in the following extract
from letter, published in the Courier and Enquirer,
from is correspondent il London, who is highly re.
spectable clerk in money change, s Office.
It il thought that business would have been consdera
bly, better in American securities and that the abun
dance Of money would have brought forward specula
tors in CONSEQUENCES Of the depressed pricesSut the
continued arrival of abrica,ions and
FLANDERS in the American journals, causas 20 great q
discredt to the principles Of the nation that Capital
sss become unwilling to interfere with properties of
Amongst these ssres ID that scarcely Ineligible fact
- read in the Now York Herald and copied thence into
I'll the Efish jouraals which eagerly seize upon
sysy Opportunity Of blaekening the republican charac
ter about the State Of Indiana which is now here rank
ed amongst the repudiatng States.
These abricstions and SANDERS referred to sim
PLY the official report referred TO- We mention this
Il to show the malevolent feeling which exists among
papers in the interest of certain parties against the dis
semination of truth.
The progress Of the debate In England on the corn
question Of very great interest to the
mercantile interests of this country The greatest OBJ
lection which has heretofore existed against the
laws Of Engand has been the fact that the duty uc
tusting one and kas made the trade corn 60
speculative in its character to forbid the possibility of
merchants Of character engaging it. The scale of Sir
Robert Peel which published last week. does indie
lower the rates. but leaves the main objection still un
uched and their appears little probability from the
srge majority in favor Of the Ministerial pan that fix
ed duty be adopted More than two thirds were in
faysr Of novesble rates. great discus going on
in the Engl journ AIS ~ to the comparative t cts
which the skding scale would have, compared with
6xed duty upon the trade with the United States Ma.
ny contend that the Axea duties wosld be better and
others the The evidence of those merchants
actually engaged in the goes show thst
be carried under diag scale and they adduce facts
which conclusive the subject The disc ussion
however, shows clearly the important fact that the re-
srictons the bread trade cannot be continued Tha
free interchange Of the medites Of the old world
for the produce Of the new, mast take place The
desperate struggles Of the arisocrats only put off the
time Lord John Russell proposed fired duty Of per
.quarter-the duty Canadian wheat TO remain with
the transit duty Of S. The Canadians making grea,
efforts to mills in order to grind American whea,
for the English market The following cia report Of
the exports of wheat andfour from Canada Great Bri
tain will show the immense progress which the trade
making in that quarter:-
EXPORTS or FLouR AYD WHEAT FROM c AyApA GREAT
Flour. WNeat
1891 bbls. sss2s bush 45o6s. equal to bbls. s2s 80:
1870 r." zsozet l4is3i 327, IL;