The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-04-24

Here is an average rise Of per cent in one week in
light stocks and with the rise in prices business
The animation attracts buyers. The public mind seems
to be past recovering from the depression under which it
has been aborng and is usually the inclined to
20 to the other extreme. Already stories gravely
circulating of the most improbable nature of large for
tunes suddenly acquired by the rise Of loan.
Persons known to have been penny 90 days since
represented to have made $50 900 by the RISE when little
reelection would show that to do would have required to
carry" $5oO oOo which still to be realzei All these
stories are Indicative Of the state of affairs People
now in former years. put the best construction
on things and the representations of fnanciers obtain
some the self contradictory and absurd talk
OF the Ohio agents are listened to with gravity This
disposition is fed with money from the Banks which have
no other employment for the funds accumulating in their
vaults and every thing tends to excite speculation.
The late news from Europe has given the impulse to
this state Of things We described in article of last
week the progress Of events which led the
accumulation of money both here and in Europe, and
the fall of the rate of interest to exceedingly low rates.
while by singular anomaly prices have also been fall
ing Every packet from England has added to the specie
in the vaults othe Banks notwithstanding the continual
fall in the great American staples The late accounts
from England bring indications that the Righteousness Of
money has atlast, produced its usual result Specula.
ton in stocks and cotton started prices Of other
products will follow a rise Of dper h. in cotton, as
seems now not improbable will make difference of about
81 per bale amounting the stocks here and in Liver
pool in transitu and to forward 81 900 900
additional specie to to this country rise in tobac
CO, and other articles will swell the quantity of imports
and their value from this country to difference, alto
gether, ofrsng $i2 900 This money will but slowly
find its way into the channels otrade because the banks
which were the great answering spring here to imitation
n hav eheen broke dou Thaf
buy goods and in debt for this money in antici-
patton. They must wait until it is realized
The return trade will then grow gradually While
this operation is going on very large will remain
idle in the hands of the Banks Now it SO happens by
natural consequences of the events Of the past few years.
that all the large moneyed houses whose influence
troshese banks and gives direction to their action have
become full of stocks of all kinds at low prices Hence
by encouraging the present feeling, and feeding it
through the movement of the banks in loaning freely
upon stocks great rise in stocks will ensue which will
place fortunes in their hands. This movement greatly
favored by the fact that the abundance OF money in
England has smohered great deal Of the feeling against
all American stocks and those like New York and Mas.
sachusetts, which undoubted are again coming into
favor That will relieve this market of large sums and
carry up those of others here less known there The
event is fraught, however, with fearful results the
English paper system.
For actual investment the sales have not been large
here, but are increasing. Those stocks bearing high
rates Of interest have been chiefly purchased because
the investments temporary but the stocks bearing
low interest demand for permanent invest
men The result Of investmentss nearly as follows
Amount of princi-
e. intel II Received