The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-01-08

twill be by this comparative table that the closing
prices were several per cent below those that ruled
through the low than the quotations that have
been current for the past week Ohio 6 closed at % per
cent below par; Kentucky 6 sold at i0f showing de-
cline since last Saturday Of four and half per cent
This stock is without a single exception, the safest and
best stock for investment in this country not excepting
even the State OF Massachusetts, With debt of only
s6i50o and present sufficient pay the in
interest on this amount punctuay and the annual
penses OF the local government there is good cause
why her stock should not stand the highest the list
The other stocks the list have particular value and
huctuate according to circumstances.
Our staple articles Of trade along very moderate
y The inactivity that this season usually
is apparent There very little doing in any branch
OF commerce. except the speculative movements in cot
on which have during the last week been very extern
sive The operations have reached extent be-
fore exceededand not confined especially to this
kei but the spirit is manifest in all the southern
depots OF any importance.
rh'eh' OF THE rns b.. sTA'S Asr'eLrs " ~ goHN
asA:' E; 5; So $ ~
Fl IT.. g 80: /: i. ,s:: I: 3
r;s' 'n NE: H M :sss -,
GI .a Ee sa-A SKA y '' 81 si' 3.
This exhibits the greatest regularity. 1t shows uni
iormity of prices that existed under any different
OF the currency than that in operation To this fea
ture in the history of Banking may be entirely attributed
the present state Of principal staple productions The
speculatons going in cotton distributed the
whole country. There is no large Bank monopolizng
the crops and controlling prices. individuals
gagged in the business mostly their resources in
dependant of Bank facilities At the South the planters
have received aid from the local Banks enable them to
hufh IF
compared with the immense capital engaged in the
movements Of Cotton, is trihing that they weigh
| but feather in the balance. The daily reports
from the south rather confirm the impression that has
lately existed here regarding short crop The estimate
that has passed the in this section placed the
crop at 500 900 bales present estimate places
the yield 100000. The result will doubtless fall
between these two amounts. Should the crop even ex
coed the highest estimate prices will rule very high Tn,
| abundance of money in the hands of the commercial
classes forbds any less favorable report Spectators
both in England and the United States able to hold
There is little for money unless is devoted to thu
movements of our principal staple productions that i
will be confined to that business and prices will recev,
the benefit Of this happy fact 1t very encouraging
feel satisfied that the future is far mortal vision
tends, free from those dangerous rocks and shoals tina
have bese the of the mercantile classes for many
years past. SO long keep clear of the banks
long We by acts in compelling these institu
tions to keep their paper issues within bounds keep thu
currency of the country confined to its present mitsst
long as the amount of capital appropriated TO banking
the decrease the prosperity Of the people will be in
sured and the former fluctuations Of trade unknown
The thermometer of commerce is bank capitalize in
Of the depends upon the decrease OF the other
The imitation OF the latter reduces the former Half o
the capital in this country devoted TO banking better b
thrown into the than appropriated 10 its present EN-
ployment The loss would half the distress
ruin the use of it will.
The Bank OF Charleston S G. is issuing small demon
naon OF checks this city. The checks drawn OIL
New York. and made able their face presen
ation at the Bank in Charleston, that the holder ma
payment at his option either place The check
are Of the denominations of IS, 10, 20 and So