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Commercial

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Parent Issue
Day
15
Month
August
Year
1842
Copyright
Public Domain
OCR Text

Price of' Wheat in Ann Arboi 62 cents per bushol. Flour do. $4,50 per barrels Exchanges at Mobile are worso daily. Checks on New York sell for 60 per cent premium. The Bank ofOrleansatNew Orleans haa gone nto 'iquídation. No chaiige for the better in monied affaire. Il is said it will be almost impossible for the Banks to resume next winter, as cohidence io so destroyed that nothing but dollar for lollar can stand it. The banks of Tennessee resumed specie payment the first of August. State of things in Louisiana. - A gentleman direct from the State of Louisiana, informa us that the pecuninry condition of that Siate is becoming truly deplorable. It appears that the Banks in that State, have been in the habit of letting out their moiley for eight years, to be paid in instalments, and that the laat instalment on the immense sums of money loaned to the planters, is about becoming due, all the nreceding instalments remaining unpaid also, not even ihe interest, hesays, havingbeen paid. As a conseqaence, universal ruin isanticipated, as thebonks in their present condition. will bo compelled to wind Up iheir affiirs immediately. The planters, he eays, owe these banka for the moncy with which their negroes were bought, and that too when negroes were worth 800 or a 1000 dollars each, while at the present time they would scarcely fetch two hundred and fifty dollars each. The Sugar planters seem to be reduced to a most desperate condition. Hè mentioned an instance, in which a eugar planter shipped thifty hoggheads of sugar to New Orleans, and sold it for one cent a pound, and all that he realized over the cost of transportation, was tkirty-eight dollars -

Article

Subjects
Signal of Liberty
Old News