The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-01

Sterling bills for the steamer from Boston tomorrow
and the packets hence. quick at Tan. On France
Sa5 5s7. Prime bills cannot be purchased under $685.
generally supposed that the commercial affairs
Of the country have reached the lowest point Of depres
son-tha excitement and agitation will henceforh be
moderatedhat repose and GOODNESS will distinguish all
future commercial events.
The encouraging elements Of abundant crops low pr
s-aspecie currency, small quantity ofpaper equ-
valen to speciethe tariff to quiet the manufactur-
ersand treaty with England to give strength to
the foreign and shipping trade. The discouraging fea
the arrangement Of the finances Of the general
govenmentthe nonpayment of interest on the stocks
primary of the stateshe continued explosion and de-
srucon of many of the banks in several parts Of the
country and the distractions which the wrecks and
wretched policy of former years still throw in the way Of
healthy trade.
On the WHOLE however the good auspices preponderate
the badand the probability is that the business OF
the coming year will be conducted bcst principles
and yield real profit than has experienced in
ten years.
One of the important branches of trade is that
arising from the expectation Of the great staples Of the
south The cotton year begins in October and there
indications that the movements in this staple including
tobacco and sugar will be conducted ina specie
rency and low prices which will yield better profit
than any year for the last ten New Orleans and Mo-
bile are the principal marts of this trade The price of
cotton will probably average from to 10 cents being
lower than has been for fifteen years past Immediately
alter the great revulon in 1887 cotton fell to cents but
the speculative of the u Bank which then
went into the Market caused in prices in less than
year. and consequent auctuaton that only heaped ruin
on ruin The utter delinquency, destruction and iqui-
daon ofthe New Orleans and Mobile banks, only clears
the way for the of the great southern
trade for 1912 and the right bassbuying and ship
he lard all he
of the South in similar positionsugar rice and to-
bscco.
In addition to these, informed that the vast ex
ports OF northwestern wheat will take place at New Or
eans-equa in quantity to ten for bushel Of former
years. The abundance of the crops has brought down
the price to an average Of per bushe and -four
In proportion This with the other crops will probably
increase the aggregate exports of New Orleans alone
S4ooooooo. which amount will be paid the producers
and exporters in sound currency either in specie or
restricted amount Of paper currency equivalent specie
In the meantime we learn that preparations are ma
king the large commission houses of Europe and Anne
rca yet possessed Of capital this fertile field Of
commercial enterprise. The Messrs Browns the Barnps
the Nchosons and others preparing with aggregate
capitals several millions of dollars. II generally
supposed that the old system of king in exchange will
be somewhat broken up. Specie 10 large amount must
be exported from England to the South purchase the
to ss7 and this branch Of trade will steadness
and profit which has not experienced for many years
Such at least are the appearances.
But while these prospects Of the southern export
trade say that the foreign import trade will be
animated with the spirit The tariff law the
heaviest laid for many years. Commercial Legislation in
this country just going in opposite direction to that
of England The effect Of the law the imports and
dir ectly on the finances Of the government will be equally
Injurious We doubt whether the cheapness and vast
amount productions for export will alleviate the new
restrictions Whether evcn the home manufactures will
he benefited seems to be open question: which
perence alone can determine.
The deprecated State stocks present no prospect Of
provemenL Neither Is there muck hope for the banks
that still continue in state Of SUSPENSION The neglect
Of several of the States to pay their dividends seems to
have assumed the character Of settled disease This no
donb will have very serious bearing on the American
character in Europe, and give rise to bitter and unrs