The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-31
MONEY MARKET.
Monday, Jan 3O-6

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The sales of stocks a fair extent to-day
aud the market generally buoyant improving pri
New York State Of per cents rose4 6s Of 1852
per 's improved Ohio Slate 6s went up q per
cent; sonington iper cent Harlem declineda.
In the commercial circles generally there is growing
fcsnedence and improved state of feeling The great
of specie in the banks and the state of the
Exchanges evidence that prices and the activity Of
trade will improve. An increased demand for
ney business purposes will accelerate the decline of
sooks and enhance the difficulties Of the government
kless the terg reduced yield II is
dersood that large of the United States six per
kcent loan 1882 subscribed for at the Bank OF CON-
merce and Bank of America Friday and Saturday and
Etha gentleman Wall left here Saturday af
ternoon for Washington to take the balance for sundry
persons So may say that the loan has all been taken
without foreign intervention and like the English with
their consols shall it ourselves. Quite fair de-
mand for foreign exchanges the supply only moderate
As money abundant many purchasing exchange to
import SPECIE the transaction will pay very fairly
We quote, Londen 1851 I; Paris 5.4s act Amsterdam
os& SSH Hamburg Sat s4a Bremen IS 75a. Treasu-
ry notes are held at per cent premium 1t is estimated
that FIVE eight millions of dollars in specie will be
ceived in this country within the next sixty days
The winding up of the banks of Alabama involved the
necessity of return to the taxes formerly levied to sup
porthe State government with increase pay the
banks. These expenditures have hitherto been borne
by the banks and sufficient ofthemseves ruin the
institutions nasmuch the money borrowed for bank
ing purposes has not learned its interest Consequently
the banks and the State gradually mpovershe ed by
the operation. bill before the Legislature,
raise revenue and will probably become law. pro.
vdes for upon real and personal property and
ously illustrates the working of the credit system upon
slavery, about which the English phisnthropists busy
Hor~ ,,,,l -, I~r
slo.oOO.ooo, which obtained mostly through Reid
Irving Co. This money was loaned to planters on cot
ton lands and mostly applied the purchase OF negroes
The interest the money thus borrowed amounts to
SeooO and is partly to he raised as follows:-
The fourth section levies of upon every
sn for
and muattoes over twenty years. and under sixty
years, one dollar.
From all appearances now and taking into considera.
ton the audacious political juggery which has charac
terzed the Erie Railroad Company it would appear that
that concern destined be of the of New
York Its failure last year to pay the interest the
stocks ofhe State loaned blow to the State
credit which only saved by the stand tax zen by the
Legislature, in evying tax amounting to 100000 of
which necessary to pay the interest the
Erie Railroad The determination to pay, and the i'm
piled pledge to issue any stock restored the
hdencs the capitalists, which confirmed by the
suit oil the elections IN favor OF the party adopting that
The Southern tier of counties through which
the road runs gave majority of three thousand against
the party inclined to lend the road stock This
not because they we're opposed the road
vnced that would be built long is CONTROL
led BY clique OF politicians in whose hands the State
money fritters away without promoting the road Not
withstandng this the message Of the Governor
evidently favorable the management the road
and in connection with the known correspondence which
had taken place the subject, produced feeling which
caused the shrewdest capitalists sell their New York
stock. bill is before the Legislature virtually to
release the road from the lien the State upon the
- 600 lent to it, instead Of selling under the ham.
The true policy othe Southern tier is to have the
road sold because it will then at cheap into
the hands Of capitalists who will prosecute to completion
with their own This is the only chance for the
road be built in present hands, because they
are utterly without means credit
The position of credit throughout the Union has
been matter Of much speculation both in relation the
means Of resoing it, and also the effect which continued
dscrsdit will have upon the settlement of the States It
has been argued that immigrants will shun such States
illinois, where inability pay he's been pleaded
reason why creditors should take the property Of the
States and give them release The official facts how
ever show that the fertility the soil and the of
taxaon are attractions sufficient the fanced
moral objections Of the influence Of reputation raised by
stockholders as bugbear to brighten legislators.
The oficial report of the land Office shows that set
Elements in Illinois this last year greater than
in any other of the Western States, doubtless in
fuenced by the prospect Of release from taxes
The following is table Of the number of acres sold in
each State for several years. and the aggregate vaue
SALES or rUBLrc LANDS IN ZACH STATE, WITH THE 40