The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-12-23
MONEY MARKET.


We have to-day later sdvices from England. An i'm
poran change had taken place in the state of
affairs arising mostly from the cessation of the hosties
against the Chinese. II anticipated that wide field
would thus openedto the sale British goods This pro-
duced very general animation in Cotton and other
lectures destined for that market. On the other hand
products of the East fell heavily. The market in par
ticulsr presented complete panic in anticipation Of
much larger and regular supply of the article here
AFTER The large public sales Of tea which commenced
on Monday the ash Now concluded on the Sd December
Out OF 1000 packages offered 900 Sold establish
ing reduction in price Of Id to Sd per h. Owing the
great scarcity Of what termed good bills Offering
discount and which interest oftle than two
per cent obianabe the classes became tired
OF holding their funds unemployed and began in
quence in the early part of November invest some Of
it in such articles of appeared reasonably
low in price This increased the of business arr
sing from the regular demand very materially and
greatly to establish confidence but TIE arrival of intel
gence from China, announcing peace with that country
on terms as favorable the most ssngune could expect
the excitement became extreme, and immense amount
OF produce changed hands at advanced prices ranging
from five to fifty per cent, and in few instances one
hundred per cent The from the manufacturing
districts are. however, by encouraging as
could be wished profits being low admit of fair wa
ges to the working people, and the almost prohibory ia
r on British manufactures preclude much hope of i'm
provement Instead under these circumstances of en-.
deavorng to procure freedom of national inter-
course the pernacous advocates Of oppression in Eng
land recommend further retaliation by cutting of all
foreign intercourse with British Colonies The improve
ment in the Cotton market reasonably expected
to cotinue because although the British armies have
ceased to murder the Chinese yet survivors have not
commenced to buy British goods any extent and to
build up market there which will compensate for the
European trade, cut off by high tariffs will be work of
time.
Money continued exceedingly plenty. The Bank of
England had issued its usual notice to lend money at 81 per
cent There great excitement in the London stock
market in consequence Of the discovery of clandene
over issues Of Mexican Active Stock the amount of
f6S00o and The creation in of E7s5 coo of De-
ferred although only 600 the latter had been actu
ally issued when these II eguartes were brought to light
The proceeds OF this stock said applied to the
purchase OF steam ships In England for the of
Tesss an object which it supposed would end in
the ruin OF Mexico, and loss its bond holders This
issne was made by the Mexican agents. Lizard Co.
and there effort making to compel withdrawal
OF the surreptiou per cent stock In other securities
the business has been very limited all the South Ame
can stocks being neglected and the in the
securities of the United States being still confined to small
purchases of FIVE cents and Illinois
2ol; United States Bank los.
msetns OF merchants, connected with the American
trade, held at Glasgow the subject OF the 2sth
section ofthen United States tariff: There is no pro-
vision, It seems, in the Tariff Act, eremptng goods
shipped iom Great Britain prior to the LIST of September
and il comes, consequently into immediate operation
upon them while similar goods imported from any coun
try east Of Cape Of Good Hope beyond Cape Horn
are subject TO much lower duties Without going fully
into the action of this clause British commerce il NAV
besutcient to state, that St. Petsrsburgh of the
places to the east Of the Cape" and consequently that
Russia would obtain commercial advantage which
Great Britain does not The meeting forwarded memo
rial to Lord Aberdeen the subj Ct
The London papers seem to have been caught with the
idle movements made about the assumption Of State debts
The Times publishes the following purpong be from
an .americon merchant of the " first class -
There are movements In every section of the coun
try for the purpose Infringing before Congress subj ct
date honest debt in their legislative capacity certainly
the spirit will induce them cancel all private
bonds and mortgages on land and houses This notion SO
completely governs the wealthy men in this couptry
that they generally decline taking stocks Of any kind
loans OF money bond mortgage to purchase real
estate, deemng all unsafe until the states acknowledge
their debts and the interest regularly. cannot be-
leve that the Ango-saxon race can fol- any length Of
time do wrong but if they are so disposed the san5
taken by the principal capitalists your side and this
country must soon bring them to their You have
done right in England not to take the public Loan and
you should adhere firmly to the stand taken No loans
or any section Of the country until all the
tssuch base traitors this endsavoring to crawl into
favor with foreigners by slandering their own country
who ruin its reputation.
The from abroad did not much affect the money
market small business done to-day in the stock
market at recedipg prices. Mohawk declined 4; Ohio
So per cent Paterson l.
very active demand sprung up for cotton but prices
did not materially alter.
We have recently published the official facts in relation
10 the Ohio State debt presuming the present debt OF
that State to be nineteen Millions per Auditors letter re
Gently published having increased it million and hall
last year. at acos to the State of nearly half million
ana supposng the requisite finish the works of
internal Improvement, to make them available to he
million ana hs additional, at so per cent, would pro-
duce about million and thirty6ve thousand dollars
that the issue would require he two mili;ons o hn
dred Thousand doarsto META million and half Then
with population oil million and half (rom the censu,
presumng that six per cent interest paid on the
whole amount, the tax to each person Ito paw the ,
the debt of the State alone) would be sirh,v s
per annum. Some School fund is said to pay part Of
but of course, IL is az broad it s long IL thsv
again for that fund. Certainly Ohio" deserves rrss,
credit for having so far paid the interest regularly II win
require however higher prices produce for the uture
% keep Der population in good humor to continue do
ing so.
AT Savannah the Banks have again reduced the rates
Of bills and are now checking New York per cent
prem the agency fthe Bank OF st. Marys is checking
at par for specie City Bank bills This shows great
anxiety 10 obtain specie.
We yesterday gave the leading features of the yassa
chusetts Banks The following table contains them more
at length as compared with two previous years -
q aso ss.,
DneJ the Banks. laio JetI Iaa,
Capital in 33750OC0 a. 3so o0o aoS,i oeo Il
Circulation Of Eve dollars '>''''"V
rewards, 7.59pg75 677 An Il
Bills less than five dollars, I53On7 160qfas lie a.