The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-13

MONEY MARK EFT.

The sales at the stock exchange exceedingly small
this morning Harlem rose Il Island THERE'S despe-
rate attemp' going to get up speculation in Harlem
The road is in very bad condition however. Attempts
have been madeto borrow money the bridge the
Harlem river. Judgments are accommodating against the
company and winter approaching when the receipts
fall Off very much and above ALL the bonds selling at
80 cents the dollar.
Advices from New Orleans give from that city
detrimental to mercantile credit in that quarter.
Dates from Yucatan to the 18th ult via New Orleans,
bring the following decree opening the ports for the i'm
portaton of corn free of duty -
Article lst- is permitted to import free of duty.
Article 2dWth every hundred loads (cargas) i'm
ported, it allowed to bring barrels of flour free of
duty.
Article ad-The privilege granted in the preceding two
articles, will extend only to the slst December next
We yesterday made some remarks the great change
which going in the currency Of the Union and
sequeny in the OF doing business In this city the
receipts of produce from the interior the increase
and prices show corresponding Inclination to give way in
the article of flour particularly This great abundance of
produce, and the falling prices, has been powerful
cause in changing the old mode Of accepting Very few
of the houses doing business in this city accept
drafts until the produccs actually in hand The substan
a owners and shippers in the western part of the State,
do not draw until they receive account of sales The
amount of accep by city houses against produce to
come forward bears very small proportion 10 what
formerly the case and those mostly by the old houses
which have become involved it, and Obliged feed
their old correspondents The present cash system
expense and safer and profitable to all PARTIES
Where the houses under acceptance for produce in
hand it generally for about three ourths Of the market
price, thus leaving themselves amply covered to all
contingencies These acceptances constitute the best
class of paper for the western banks but the amount is
large and discounted with caution They have
yet reached their minimum, notwithstanding that many
farmers disposed hold their wheat and then
mnish next years CROP We believe few of the
dealers calculate upon higher average than 81 per
barrel for -four during the ensuing winter in the New
York market and probably throughout the Union it will
not average 1915, and without foreign demand will so
much lower.
The effect of the tariff of duties will be in a de-
gree by excluding foreign goods that might here in
exchange for produce diminish the foreign market and
by retaining the surplus at home sink the value Of the
whole crop fearful extent In $780, 900 barrels Of
flour seat to England, in exchange for iron and
cloths rather iron and cloths sent here and the
-four taken in payment and carried back The withdraw
al of that oOO barrels from this market caused the crop
of ls4 to average s per barrel higher So per barrel
instead of $780, in ls4O The whole crop of wheat
was according the estimates Of the department. based
the of the former year 600 bushels equal
10000 900 barrels of -four The value Of this i'm
proved Sl50 per BARREL making SAT 900 put into the
pockets of the farmers by sending S270oOo0 worth out
of the market If that barrels had been destroyed
entirely there would have been agric gain OF
S24 This illustrates the principle on which the
old Dutch East India Company were wont to burn up the
surplus stock spices order to enhance the value Of
the remainder Instead destroying that -four however
So 900 worth of cloth iron got in exchange for
it, That method of disposng surplus is now checked
greatly BY the tariff farmers called upon pay
higher prices for all they and the clothes they
wear The have promised the farmers that
If the tariff was imposed, they would buy flour and
nork nj better prse Lei what chance there is
such an event. Abbott Lawrence Esq, proprietor of
factory at Lowell which employs 900 females average
wages 81 per weeand 200 males average wages 81 20
week They manufacture 100000 yards OF cloth
per week. The supposton is that Mr. Abbott Lawrence
and all those in his employ have had enough TO here
toore that Of them have gone hungry for Of
bread and for want pork and that their powers of
sumption Of those articles have been their maximum.
Mr. Lawrence has been very active procuring the pre-
sent tariff, which operates upon cotton goods in
the following table the quantity value average cost
per yard of prints not exceeding IS per yarj and
white cotton not 30 cents pei yard imported six
years, from official documents -
IMPORTS OF CoIToS Goops UNITED STATES.
Prints. White