Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-02-17
M q n r. Y M A IL X u IT.
Friday, Feb. I6--6,

Friday, Feb. 1876, p. NJ.
The money, stock and staple markets in extraor
binary condition. One portion OF business complain
ing Of the scarcity of noney-no transferable pressure
while another portion Satisfied with what is doing and
actually making money by taking advantage Of the existing
movements
This contradictory Of things resembles the phenomena
exhibited previous the Revision of 1887
from different and tending far different result We
had then the spectacle OF high prices high interest," high
aud the appareHt synptsmso prosperity butthe
hectic flush previous dissolution We have low prices
tending still lower depressed oregs exchanges search
~ great pennes of funds in the street. every
apparent contradiction thar bewIlder the mind
-s,rsy the observer.
But submit this things rigid
real condition will become apparent.
All the phenomena OF trade foreign and may be
divided late two powerful current-he founded on
principles and leading fortune, the other ug
with the bad system Of he past asd gradually closing
amid the struggles Of dissolution, The od suspend
houses founded sound apta compcse the former
Thus therefore, is evid that both classes OF observers
the eroakers and antcroskers, can appeal to facts
Since the revulson, large Of foreign apta has
been conyergng this country and In addition h the ac
ton Of banking institutions the singular fall foreign
exchange To-day considerable were sold Al 10 ca
for cash. We have heard parcel Of 100000 drawn by the
Planters Bank Of hatcher sold 81 also 5000 that
sold per small quaHty OF exchange was
disposed yesterday time days. at per cent
sales OF foreign exchange have taken place on teand
the appearance OF such transaction for present packet
evidences OF the returning Of
In foreign affairs
This fall efcxchanges extraordinary. Not since Iss2S call
ed the panic year. has foreign exchange much in our
fsver Al that period fell low 80 I0o which, eaeu.
lated the specie standard Of bs day. "a under the
actual par Exchange los today, taking the
the variation between paper and specie gives sf
nearly per uaser the actual par Of The day Al
The
per cent in the difference Of exchange aone.
The causes OF the depreciation In exchange for these two
dferent periods by identical In 1892 - the
fall produced by effort draw Eagand in order to
realize fuRss here Il kiting crerai.n merely TIL.
fall Of exchange this yeas the actual result positive ba
lance ofade In favor Of this country produced by all the
healthy elements destroyed by the revusea year,
recovering from past depressions
This believe, Is conpee explanation Of the whole phe-
sonens. Can any give beters
the great staples these tbsgs yet operssg The
cotton market, compared with last week, Is lower on
the better qualities and TO the middag and lower
Qualities Sales ofths week abost 1000 bales from
ordinary to ia c good fair the principal being s ~
lec The stock full 900 bales Great diversity
OF opinion exists Of the Market
Feur getng firm, probably frem the OF the weather
mere thss from any other large fall snow may
therefore, affect both -four and fuel in degree.
In inasd exchanges there Is little no change That TO
Phiadelphsss getting This is probably prsduced by
the large returns eed bills OF the u Bark COM
ing bank thros city redemption BY the last sesper
from Charleston about ssoooo OF these bills reached here on
their way Philadelphia. These the bills sent TO the
10 purchase cotton. Asr completing that operation
they get hands o ouhen merchants and thus are re-
tsrsed here In pay~ent Of southern debts.
Several OF Dry Goods have taken place during th
week, all Of which have bees still greater reduction In
prices Foreign goods selling loss The importers Of
20 per domestic goods the loss
turer least - per Indeed think that dry goods
lower than they have been for the last years. and
should've cash system Il suctoneers be conaued they
psusl fall lower and lower still.
The OF this destructive fall in the prices OF goods
obvouste every merchant and the remedy IL easy
one.
The forced ssesfor cash that have been made time
pas, by OF largest houses, the obstinate
continuance by them OF what called the cash SYSTEM
have produced ell this evil Usgrsefu towards those from
whom they have drawn al their wealth, and 10 whom they
all their prosperity, they have determined TO throw every
obstacle way DESTROYS OF eosnuing their bus
ness bresh down if they can solvent house. The
sales made by solely for cash, they In lots suited
for the country merchant who goes there ssd purchases
them his goods and thus the oboer deprived Of his eg
mate business.
Nor h. loss of the sale Of his goods the only pnc
pal injury which The jobbcr susains The money due him
from ,he sousry merchant expended IN The auction roes