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MONEY EAR K T. Saturday, July 1. From Philadelphia we have received a special and most interesting account of a grand movement on the part of that great financier, Nicholas Biddle. Various discussions have ensued in the bank parlor upon the future course of the United States Bank. By way of preliminary, we will recur to a few past events. Mr. Biddle, in exchange for his bonds and post notes, possessed himself of such paper as would have placed the deposite banks at his feet, had not the revulsion been so severe. Disappointed in this great plan, he found himself, at the hour of suspension, with about $2,500,000 of specie in his vaults to meet $7,000,000 of circulation. Net being able to realise the paper that he had taken, he was forced to shut his doors. Ever since, he has been busy in redeeming his circulation, till it is now within $5,000,000. Reference is here had to the new notes-as to the old ones, he is not obliged to redeem them. During the same time, this master spirit has been increasing his specie basis, till he has got it up to $3,500,000. While other financiers have been telking, he has been acting. On the first of July then, his circulation stands in proportion to his specie as 1-5 to 1. For the past ten days, warm discussions have been had in the sanctum at Philadelphia relative to the resumption of specie payments. The mercantile directors are opposed to it, while a great number of those having no immediate interest in trade, and himself, are loudly in favor of the scheme. It is proposed to resume about the first of August. This grand coup d'etat will enable him to claim the deposites, which by law must be given to the specie paying bank nearest to the place of collection. It will be remembered that on the 10th of August, if Mr. Biddle doesno resume, the government of Pennsylvania can abrogate the charter by virtue of a provision in the same. Look at the subject in which ever light you may, it is reduced to almost a certainty that the United States Bank will pay specie about the first of August. While such important movements are transpiring in our sister city, we see our own State taking the lead in sustaining its honor and credit athome and abread. Mr. Flagg, the Comptroller, who isa hard-money man and opposed toall the schemes of speculators, has issued a circular calling upon our banks for 10 per cent upon the canal fund in specie,-he, by law, being compelled to pay the interest of the State debt in the legal money of the country. The effect of this order will be, to increase the demand for specie. The banks will be forced to go into the market and their notes will depreciate,-that is specie will increase in price. Now what justice is there in this state of things? The banks must pay this demand on them in specie, while they can refuse the holders of their bills. By means of the odious suspension law, the poor man is compelled to put up with their depreciated paper, when the government can insist upon coin for its claim. What an anomaly, to say the least of it ! One part of the State is enjoying immunities, that another part is refused. Mr. Flagg has only done his duty. and he deserves the thanks of all just men for his zeal in the public service. The State of New York leading the way in the great cause of commercial faith, we sball see all the other States follow our example. Indiana and Illinois have already determined on the sarae course of conduct. Pennsylvania will do the same.The debts of all the States in the Unionare estimated at $60,000000, and the interest being calculated at 5 per cent, we have the sun of 3,600,000 to pay annually. The quarterly liquidation of this sum, in specie, will cause coin to appreciate rapidly.This very appreciation will render the banks less able to resume. And every day that they put it off, they will be removed the farther from so desirable a goal. The moral tone of the yeople of the United States is decidedly against an irredeemable paper currency. In the course of the United States Bank, wesee a positive exhibit of the strength and power of that tone. On the resumption of specie payments by Mr. Biddle, the prudently and correctly managed banks throughout the Union will follow suite immediately. Bnt another effect will ensue. More than four hundred of the institutions that have so long preyed on the industry of the country, will close their doors and wind up. They will find that the business of the land will not warrant their continuing in operation; and the prospect of the future, joined to the sad experience of the past, will determine them to settle up and surrender their charters. Again, Mr. Van Buren will 1 placed in a nostawkward predicament by the success of Mr. Biddle's operations. The government will be compelled to give the deposites to its hated ri. val. It is the grandest and beneficial conception that ever emanated from the mind of any man. Let Mr. Biddle resume, and by law his institution becomes the Deposite Bank at Philadelphia. The moral effect of this movement will be greater than any event that has characterized our chequered history for the past ten years. Taken in connection with the predominant feeling in favor of the legal currency, gold aud silver, or their equivalent, the movements of Mr. Biddle will place him at once at the head of all that great and good in this country. From every part of or we standare us legal the Union continual manifestations of the community.jp joined to the determination of the United States' Bank, the commerce of the country will recover from its late shock more speedily than any one could have anticipated. Stocks are quite brisk. U.S. Bank up 111). The tendency of U. S. B. stock upwards, is evidently owing to the projected resumption of coin payments by that institution. Specie in fair demand. GENERAL MARKETS. NEW YORK. June 30th, P. M.-Business, the past week. has
