The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-31

~ York Gas Light 20. ALL - tll3
The most valuable stocks in the above list have fallen
of within the past month. United States skies. Ohio and
kentucky sxe and all the good dividend pay ing stocks
lately been sold at decline of from two to three per
cent from prices quoted month since. The various in
uences that have within this period been brought bear
on the stock market have seriously affected all stocks of
fancy description. This, however, amounts to but very
little compared with the depreciation of sound stocks
Fancy stocks affected by every triAing
that arises and their quoted value is not the slightest in
LEGATION Of the actual state Of the market generally State
stocks are affected materially by themovements in the
different legislatures Even those States paying the
interest their public debts regularly not beyond
being influenced by legislative swelling the
ebts or restricting their by appropriations for
other objects The lately adopted by the legsla
of Penns has caused great deal Of excitement
financial circles, and destroy ed what little hope still
ed i'll the minds Of few regarding the faith Of that State
The movements in both houses OF the Legislature exhibit
determination to do nothing this session towards
he relief of he public creditors 1t amounts practical
population Nothing less With resolutions for
adjournment laying the tables of both houses, we
every expedient resored stave of the subject Of
state Indebtedness and create all the delays possible to
prevent arriving at crisis. We have not the slightest
ioubt but that Legislature Of Pennsy lvaniaw adjourn
without making any provision for their creditors Tho
eope Of that State in favor of meeting the pay ments
their debt promptly but will not submit to taxation
Che representatives. Of these people, have not moral
ge enough to take the responsibility of making taxation
that WILL enforced produce the required resources
pay the interest regularly the debt 1t will not do
the inhabitants of that State to again deny their having
epudiaed They have not SO honestly declared doing
the people of Mississippi, but they have by their
cs plainly asserted their intention We cannot expect
younger and less wealthy States to meet their Liabilities,
epudiates Maryland, Mississippi louisiana Illinois, In
LLAMA and Michigan have not advanced single step TO-
wari quidatng their debts. The legislatures Of these
states have adjourned without providing for the pay
nent of part of the annual interest They have treated
their creditors outrageously and have had regard for
their necessities. A Commissioner from the State Of Hi
nos is in Europe endeavoring to pei feet different
arrangement from the first proposed to the compile
ton of the canal OF that State What effect the reports no
carried with him may have the foreign creditors
it is yet impossible to imsgine. Those interested
in this country will doubtless ne informed ofhcialy
the arrival of the next steamer. LOUISIANA ike
several other repudating States, is abundanty abe 10
her liabilities but the indifference manifested In
the Legislature towards the public creditors SHOWS
the existence of feeling regarding the State debt that ar
CUES very unfavorable for those holding Stock
Notwithstanding the evidences that dayspring up
that State credit is rapidly reaching the lowest point we
have in our power saythat individual credit is becoT
ing established on solid bss The agitation OF the exet
ing political questions Of the dayhas very little influence
nm .he reoar movements trade and commerce We
,rrr,aea with indications of an immense inland trade
during the approaching Speculative movements
have nearly ceased The European advices per the Gale.
aonia created slight advance in these articles in which
speculations abroad exist such Coffee and Sugar. but
has subsidized and prices previously current now rule
transactions The Cotton Market has settled down very
quietly The movements in Manchester amongst the spin
ners and the inactive state Of the Liverpool market
crea,ci corresponding action here, and prices
have slightly fallen Off The southern markets have un
dergonc great change within the past month this
those the other side The disposition to ship appears
be very general and within the past few weeks seve-
ral ships have been taken up in Mobile and New Orleans
for Cotton at high rates fer freight