MONEY MARKET.
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/ Netc York, Nay l3.-1'here is still grea
confusion and uncertainty as regards tn
course of commercial events. The tw
currencies arc under way. Specie is at


premium Of 10 to Il per cent but ycater
day sales Of it were very flat. The runs Of
the bauks previous to the suspension have
thrown large amounts If it into market
and it now drug Wall street.


The Board of Brokers was engaged
warmly again yesterday on the subject of
suspension of specie payments in relation
to stock contracts. The question is no
yet decided. Stocks arc Aactuating anc
unsteady--Iittle is doing.


The great topic of the street is the law
about to be passed by the Legislature, au
thorizing the banks to continue their suspen.
sion of specie payment without forfetting
their charters. The suspension is to en-
dnre for one year. Some of the provisions
ofthis bill, if it passes into law, will boar
heavily on certain banks in the city. 1t is
doubted whether several Of our banks will
not be wound up and closed up. Suspi-
cions are entertained Of the management of
the Manhattan, the State, and the Mechan-
les. Large loans have been made to the
brokers, in default of the merchants
throughout the State we should suppose
the effect of the law would bc to close the
doors Of many banks finally and forever.
Many amendments and much opposition, 1t
will have to encounter. We cannot tell,
therefore, what the exact operation Of this
bill may be, till it shall have passed both
branches Of the Legislature and become a
law. It's possible that some Of the banks
embraced in it may resume specie payment
before the limited period.


In the mean time, the whole financial and
commercial machine is more and more get
ting into confusion. The government has
refused to postpone the payments of bonds
till the frs, of January noxt. This refusal
is grounded on the imperative obligations
Of law. Mr.. Woodbury's letter to that effect
has been published, and we do not sec how
his reasoning can be invalidated. The sns-
pension of specie payments by the banks,
more and more appears to have been con-
certed movement throughout tho whole pa
per money confederacy. At Providence,
the news was cheered ~ its reception, and
in one hour all Of their banks suspended
specie payments So in New Haven--so
in New Jersey-so in Philadelphia. In
Baltimore, the bank we're more cautious, re-
membering the cmeute produced by the fail
ures Of the Bank Of ofMaryland The United
States Bank has suspended in the following
form:


ain consequence Of the failure of the
Treasury Of the United States to pay the de-
mands upon it in specie, the Bank of the
U. States, holding large claims upon the
Treasury banks, which it is unable to re.
llize, has been compelled to suspend specie
also.


The government, through its doposite
lanks, having failed to meet its engage
nents, the Bank of the u. States did moi
hink it justice to Philadelphia to continue
pccie payments.


Whenever the government is ready t.
esume specie payments, the Bank of the
]. StAtes will be ready to cooperate with
he treasnry for that purpose


Herald.