The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-04-30
MONEY MARK EFT.


Three back mails from the South arrv ed odsy bring
ing supply Of bills much less than expected. Th
result further advance in ratsssterng bills ro
to7A per cent, and francs to 80 a 8 323.
The stock market heavy and prices generally "a VI
way Ohie IS in particular fell u per cent. There nj
doubt but that the July interest will be paid. The fad
that the Commissioners have uncontrolled command
900 Of stock and that the banks loan upon at
per cent renders the certain Last year stock
were sold as low IS for the purpose The reput
ton of new tax is good the actual levy when mene
is 10 abundant Kentucky fell per cent Indiana rod
to 80; Delaware and Hudson rose per cent from lal
sales Stonngton per cent Harlem fell t.
Athe new board, the same features presented.
The Harlem stock bought last summer by James Watt
Esq. and which has been lying under injunction near
year, has all been taken up and paid for by that gentl
man. great struggle will before tho election d
the l6 tn proximo. The books close to day. Each of
great centendng parties taking up all the stock the
can get.
The position Of the general business Of the country
both financial and commercial presents as the great ar
leading feature, transition from high aud Auctuar
prices to low and steady rates. This 10 the natural
OF diminishing that portion of mixed currency IN
quantity OF which depends the temporary interests ar
will Of associations, on whom the several State COVER
ments conferred the powers of coming money in ~
shape Of paper for circulation and increasing that
ton, the quantity of which is regulated by nature, and
amount IN circulation by the industry of the people,
When the currency is full and fuctuang, all busino
is in the highest degree speculative and although non
nal profits to-day may be large, fuctuation to MORO
beyond the foresight of the most skilful, will absorb
whole. The exchanges of the country are the baron
ter which show the minuest variation in the state Of
currency Ishas been the experience Of the largest
change operators in Wall street. that the lower and st
der the exchanges are, the moro profit the busind
Yields in the end although the amount Of ptal requir
in its conduct Is larger The business between Bost
and New York under the United States Bank varied fro
lto 4ai per cent, according to the movements of
bank For the last three years. the rates have varied
prem to discount in the hands Of private dealers and
been regular and safe business; it yields small
profit On Philadelphia, for the most Of that time
ranged to per cent that is premium to dicount
the issues Of the banks uctuated The result was alt
nate large gains and losses to the deal ers
rates have now fallen low and regular like those Of
ton, and the business ia getting sound. This process
extending itself over the Union and II the pow
were taken from the banks to &C coin money at nj
sure, the rates in the hands of private deal
would never vary. The business would be
steady and safe as in Europe, where the large h
see turn perhaps 100000 for profit of 900, but thu
is little no risk. These remarks on exchange apply
greater less degree to the whole business Of the
try. the permanent prosperity OF which will be cnsu
only by steady and dear currency.
la such q state of the currency public stocks
Away range very high because the risk small and
profit much larger thanl In other modes Of investm