The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-06-23
NONE Y MARK EFT.

The stock market exhibited quite panic to-day, and
prices generally fell This the natural of
rapid rise. The abundance of money real artificial
It is actual wealth in the hands of those who
ploy it-not under a nationa bank paper promises
which may explode The abundance of this money
to be loaned to weak brokers' by the banks gen.
orally at margin of ten per cent. Prices fell little SO
the Margin and many operators, being
able make good the stocks sold and accelerated
the fall This brings the stock into the hands of able
holders and lays the foundation of solid rise
"Bears taking advantage of this state of things, talk
stocks coming from Europe, in the face of all past expe
renae to the contrary In all the panic of the last four
years. no stock has come back The fall will continue
until this operation has spent ITSELF The accumulation
of money is real New York nothing and the pros.
pect that further addition will be made to the present
large stock of cash Nothing official has, of course
pired in relation to the loan but the treasury notes.
corng notice be paid Gin money" the LIST prox
The Secretary attempted negotiation some time since
with the Banks in this CITY, but failed because he
too high and too firm in his demands This confirms the
belief that the loan has been TAKEN and foreign house
The continued abundance of money inevitably will pro
duce further RISE not only Of stocks but of produce and
goods. At the Board Ohio 6's fell IT; Kentucky /; Iii
nois 81 Canton Co. /; Mohawk II; Harlem II; Farmers
Lean per cent.
At the new Board, United States stocks rose H. There
Canal bonds not receivable for subscriptions the
loan. This is mistake Mr. Fiske, the Cashier OF
the American Exchange Bank, receives all descriptions,
Of Illinois Canal Indebtedness without distinction There
are Canal liabilities afoat in which the State
makes any distinction. There few Canal bonds,
which originally misnumbered ll0l in black ink
General Wheside when here corrected this, and made
il I'LL, repeating the number in red ink in order to
avoid dispute These bonds precisely the the
others.
At Boston there sale of five Massachusetts bonds
per cents, for f200 each, at oct per cent.
Much has OF late been said the subject oil CONNER
cal treaties place the intercourse of nations upon
basis of reciprocity The plan neither new nor of
doubtful utility.
Mr.. Pitt before the war with France, had projected
system of the most extensive free trsde and his views
ably backed by those of Mr. Jefferson, who, while
Secretary of State under Washington, reported in 1893
as follows -
would even a single nation begin with the United
States this sy stem Of free commerce. it would be advs
able to begin with that nation since II is by
only that be extended TO all Where the crcum-
Of either party render exped,n, e rersnu
by way Of impost commerce. It's freedom might be
modified in that particular, by mutual aud equivalent
measures preserving it entire to all others. some
tionsnot yet for free all its extent might
be willing mollify its restrictions and regulations tor
u.s. IN proportion to the advantages which ntercours.
with us might offer. Particularly they may with
us in rtcprocang the duties 10 be iepsd each side, OF
IN compenaating any ercess Of duty BY eq"pae" Albania
ges Of another nature"
Well would II have been if this sound doctrine mao
been adhered to- The convention of 1875 indeed p'aceu
the navigation Of the two countries an equal oong
bu, the United States have been constantly incrPa"t
their restrictions while England has been yearly oi'
nshing hers. The present existence oil 'ne Dri''si
empire is owing entirely TO her rapid advance TOWARD
free trade since the war and the comparative decay
American commerce, is owing to the ascendancy of
minded and selfish clique in the national coun
cils which under tho catch words OF "proecon to do
nestle industry is taking bread from the mouth Of the