Correspondence of the Telegraph.

NEw YoRK, Monday, Feb. 8. ls41.
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NEW YoRK, Monday, Feb 8, 184l


The new suspension of the United States Bank
followed by that of most other Pennsylvania and
more southerly Banks, continues the ruling topic
here especially in our business circles 1t is gen.
orally regarded as the death-blow to all attempts
at Resumption under the Sub Treasury system
1t is expected that all the Banks of New Jersey,
Pennsylvania, Delaware, Maryland and Virginia,
will suspend and the few farther South that had
attempted to resume. In short we have gone
back to the currency of 1914 and Is, and there
we shall probably remain until measures are TAX
en- for resuscitation similar to those of the Mad
ison Administration in 1916.


OF course, there is perfect fever in the Stock
market. Stocks hitherto standing high are now
at the bottom of the hill and likely to remain
there for the present. Some of them have "fallen
too low to dread a second fall" and can never be
restored


Business is of course paralyzed. February is
ever dull month in New York, but this one is pre-.
eminently So Nobody hazards move in such
squally times. Our trading streets are almost de-
serted. Produce which had been looking up, es.
pecially Cotton, is down again, or dull of sale
western Flour, slow at $4,S7 l-2; southern at So
Our importers have ordered more goods than they
wish they had; and appre he nd that our Manufac-
turers will experience stagnaton, or at least a
check, if no improvement in southern exchanges
is effected


All this time there is no serious pressure for
Money in this city, having all our own and five
millions which were lately Philadelphia's we seem
to get along olerably easy. In fact so strong are
our Banks, doubly fortified by curtailment and spe-
cie and SO little is doing among us, that our sure
Banks have less good paper offered than they
would gladly discount; and most take all the un-
exceptionable that is offered.
Stocks all took an extra tumble to-day. United
States Bank is down to 261-2-a fall of 10 per ct
from yesterday. Almost every thing offered went
down-Vicksburgh Bank to 5! Harlem Railroad
to "a l-2. Sowego.
Domestic exchange sold to-day as follows On
Baltimore ga 1-2 per cent discount; Philadelphia
3a31-2; Mobile 51-2a7 New Orleans 3 a s. on
England 1-2a 3-4. --


Itis understood that the Philadelphia Banks are
determined to separate their affairs entirely from
the United States Bank.


We had an arrival from Havre yesterday-the
| Emerald packet ship, with advices to the 9th ult-
three days later. The news is not important. 1t
is reported that new Revolutionary ferment is
felt throughout Spain and that its end will be the
overthrow and expulsion ofEsparterc, the present
ruler. Nothing certain was known about it.
Austria has demonstrated against the enormous
army which France keeps up, as threatening the
peace of Europe. The French minister gave
| conditional promise to abate it.


There is late news from the Exploring Expedi-
tion by letters from Honolulu, of Oct. 24th last
A party from the ship Peacock on shore at Malalo,
one the Fejee Islands, was surprised on the Oath
ofJuly last, and Lieut. Underwood and NJ idship-
man Wilkes Henry killed Ample vengeance was
taken for the murder by the ship; the island being
attacked and all the males killed The Expedition
will leave in the sprino of 10 Yours