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U. S MATTERS The New York Herald of Monday last states, "That the United States' Bank had been offered a large amount of specie to assist that institution in returning to specie payments. We now state that deputation left this a few days since to make the offer and was received rather cavalierly on the part of Mr. Biddle, who replied that he had 'taken his position, and should maintain it, without any assistance whatever -Mr. Biddle seems be in a fair way of making his Institution odious to e great body of an enlightened people. The Herald states, that the packets were to sail on Tuesday; but that "the business done in exchange on London has been very moderate, the demand generally much less than anticipated-the asking rate at opening by the leading drawers 7 per cent which soon gave place to 3-4 per cent at which the best bills, to small extent, were sold-the rate further declining to 6 1-4 and 61-2 per cent., at which prices the leading houses were offering their bills on Change. Late in the after noon we heard of sales at 6 per cent. of good bills. Bills on France opened at 32 1-2 a 35, and fell early to 5.37 1.2. "Otherwise it has been dull day as to quantity of business transacted, but we perceive no falling off in spirit and confidence The small attempt at resumption in Philadelphia has operated to produce a greater firmness in the rates at which the money of that city is held, but no material change in rates has yet taken place.-T dividends by the banks are daily declared -already six city banks have made dividends from 8 to 10 per cent for twelve months-the New York Gas Company dividend of 5 per cent. for six months The State stocks declare their dividend to morrow.-Specie is still flow. ing into the market. From Bermuda yesterday was ceived $250,000-also small sum from Tobasco to day At New Orleans, on the 21st, specie was at and 8 per cent. premium. The Globe remarks, that " all eyes are turned to the millions of New York, while the hundreds of thousands of New Orleans attract no attention. In this way it escapes observation that the West and Southwe are replenishing with specie, not so rapidly. but as fully and surely, as the Northeast. Every week we see two or three hundred thousand dollars noted as arriving at New Orleans, and on the 9th and 10th instant, $300,000 arrived in two days. The supply at New Orleans has this advantage over that at New York-it is perennial. It continues all the year round, and every year in suc. cession, and is the regular sequence of the Mexican trade Besides the coin which now comes to New Orleans, we see the arrivals of the bars of silver mentioned there. di rect from the Mexican mines, and brought to the U.S. Mint at New Orleans. This Mint is to become a main coiner of Mexican bullion The Boston Daily Advertiser states, that "the Merchants', Columbian and North banks of this city, and perhaps others, have already resumed specie pay. ments in full We have little doubt that their example will be soon followed by the other banks of this city and State; nor have we any doubt that they will persevere in it. It was evident some weeks since, that they had prepared themselves for such course, provided the state of the foreign exchanges favored the adoption of it. It has so happened that nothing could have been more fa. vorable than the state of the foreign exchanges, and the consequent influx of specie. The currency of Massa. chusetts, therefore, is restored to specie basis, and the first step is taken for the restoration of Mercantile con. fidence, credit and business. A small but cheering sign is given by the Philadelphia Sentinel of Tuesday last We learn that the banks of the city and county are making arrangements to pay in specie in a few days, all sums under one dollar. The City Councils have passed an ordinar authorizing the City Treasurer to issue new loan of $260,000, payable in May, 1840, to redeem the certificates now in circulation, which are due on the 12th inst. We understand the intention of the Treasurer to issue no certificate under one dollar. We trust that the loan companies and the incorporated districts will also make arrangements redeem all sums under one dollar as speedily as posst The great Regulator is now the great obstacle in the way of specie payments. But public sentiment is ing against him even at his own doors. We hail the following account of public meeting in Philadelphia, with the greatest satisfaction SPECIE PAYMENTS- public meeting (says the Pennsylvanian) on Monday evening at the county Court. house, in favor of a resumption of specie payments by the banks, was very numerously attended A multitude of people who caine forward in consequence of the call, were unable to obtain admittance. and had the room been many times larger than it is, it would have been com pletely crowded Mr Andrew Milleracte as chairman on the occasion- series of resolutions expressive the sense of the meeting upon the important subject under notice, was adopted, and a number of spirited ad. dresses were delivered The meeting adjourned to assemble again on Monday afternoon. May 14th. to hear the report of committee appointed to address the banks in reference to an early resumption "It is plain that the strongest feeling is abroad in ference to this matter, and that the people of Philadelphia are justly impatient at the continuance of state things from which their brethren of N York are now effect released. It is to be hoped, therefore that the move ments in this city, and the general course of public nion among men of all parties. will not be W without their legitimate effect, and that the first step towards resumption, as announced in the determination of the banks speedily to pay all sums under a dollar in specie, be immediately followed by a prompt adoption of that policy which alone can restore confidence and prosperity. It may be. as the bank letter assures the prerogative of strength, not to be afraid of the post ponement of fulfilling obligations-but the same policy is so often the necessity of weakness, that it is very ficult to discriminate between the -certain that the public do not; and so long as the suspension tinues, just so long will industry, energy and enterprise be 'bound in by saucy doubts and fears, and the dead weight of distrust and apprehension sit like an inculous upon Philadelphia. Every one sees that now, when specie is flowing rapidly in upon us from every part the world, is the movement for resumption- precisely the moment foretold in the bank manifesto of last year, and by all the logician's rules now must be the time for shaking off the crushing load of a totally irredeemable currency. Thus, from every quarter the screws are about to be put on Mr Biddle. He will be compelled by the force of the public sentiment. and the character and credit of his Bank in Europe, to resume. if he can. But. "Is ABLE TO RESUME? Under this head, the last Globe devotes more than two columns to an able discussion of the question We take the following extracts for to-day We shall publish the whole article hereafter: "The first item to be looked to in every bank is the amount of its specie in hand, and the proportion which that amount bears to its immediate liabilities Taking four millions of dollars, in round numbers, as the amount of the bank specie, we will see what are the liabilities which it must provide for either upon the instant, or in short time after the resumption At the head of these liabilities stands new item in the catalogue of this bank debts: that of its debt to local banks! This item alone announces the deplorable decline of the great re. gulator The amount due to State Banks is the enormous sum of $6,853,849 And this is an increasing balance. and known to be on interest. Eve. ry return since the stoppage of the bank shows an in. crease of this State debt: and nothing more is wanting to show the helpless condition of Mr. Biddle's bank, and the wretched manner in which it has been managed. Against this enormous debt due 10 the State banks, there is an apparent set off of $2,786,337 due from local banks to Mr. Biddle's If this set off was real, and was actually due from independent State institutions, the balance against it would take the whole of the specie which the bank possesses, and then lack near a quarter of million of meeting what is due to banks But it is not real set-off-it is not set off due from independent banks but is chiefly due from the numerous dependent local banks, now prostitut to the degraded condition of Bid die-bank agencies. The greater part of this apparent set-off is due from them: that to say, is due from Bid Biddle that due from nobody
