The New York herald., 1845-03-15

There Ia this moment excitement among
those dealing In uncurrent money in relation to the
this stae in relation to the par redemption the Of
the Banks OF the interior, Albany New York Memo
Tas nave been presented for and against the system
but the probability is there no action upon the sub
ect this Session Of the Legislature The present system
IS detective III many PARTICULARS but it is matter Of great
aoubt whether a better could be substituted A par re-
dempon fhe Issues of the Banks othis State in this ci
v would throw into this market ton the
Of Banks in States all around u.s. the currency would
consequently be much deprecated Until we can enforce
the laws upon our statues, regulating the circulation Of
OF redsemng the issues OF onr State Banks should
touched We the current quotations for
and broken bank money 10 this market.
QuoTArIoNs UrcunaErr MoNkv.
BssS Bs:tSSa Bank SNtS q ."e:
Slisssepha ifiss @ai91ea. a.sY sGon's s
s1''psas Red S&'';s S:sts lss
E9S iDasa; sssSHosfyRGS1s ssnH Of RScu! Bank. IS
Mchigan ). aa3 neis State Bank ...... .
s.% ss'i ea @ SasS Snfyns'0wn
Foreign, Exchanges are rather inactive; There isa
limited demand and quotations for sterling bills rule
a, o. 10 per cent premium. The supply Of sotton bills
in the ket quite large but those making remtances
ar are afraid to touch them not knowing the responsibility
mand % TO- and v,ry lately have sold at lot Prime
past as within the last few months This the in
the face Of large supply Of bills This time last year,
CouoH coming OIL bpeCud-
ion, and holders were commencing reduction Of the
stock on this side by shipments at prices averaging four
pounds, eighteen dollars than the present market
rates and at freight equal dollars per bale higher
These shipments reached Liverpool falling market
and corresponding advance in the standard of classified.
top. Immense losses made these shipments by
either the shippers this side the Liverpool houses
receiving the cotton but the probability ia the losses fell
upon the houses the other side they authorized
their agents here and at the south, to make ad-
vances TO those making shipments to them, relying
improvement in prices, which they thought
must eventually be realized, to carry them through the
operations safely. The losses many Of these ship
ments have been enormous, reaching ut times fifteen,
twenty, and twenty five dollars per bale loss Of
dollars per bale last June considered hea bite
Many OF the parties engaged In the cotton speculations Of
last year this side, irresponsible, and in
cases. not worth as many shlings they shipped
bales Of cotton Some Of these parties shipped two
four and eight and ten thousand bales,
the losses which averaged at least eight dollars per
bale, making the aggregate loss immense knowledge
last summer has destroyed the credit of those houses
drawing cotton bills, and induced those purchasing bills
for remittance, to be very careful what bills they pur-
chased Tho discredit thrown upon cotton exchange
has enabled those who kept clear of cotton operations
and whose credit not affected by being involved in
speculative movement to command the highest rates
for their bills, and to control the market These making
remttances in sterling bills ofexchange should look par
cularly and carefully to the Of the houses the
bills drawn The drawers of cotton bills this
side generally Irresponsible and the value Of these
bills depends entirely upon the standing and credit cfhe
houses upon which they are drawn.