The New York herald., 1844-12-13
MONEY MARKET
ThursdaY. Dec. l2-0 r. M.

This being day set apart by the Executive Of the
State as day of Thanksgiving, sc. all parties
were engaged in rendering thanks according to the
manner they deemed the most proper. Wall
street and all the business portion Of the city ia nearly
deserted and the attention Of those who do congre,
gate in those sections, directed to and
creation 1t is relief for those engaged the excite
ment Of stock speculatons, to havea hoyday bat par
tcuarly at this time, when every thing much de-
pressed We cannot expect the slightest improvement
in the market until our foreign affairs
tsfacory appearance An open rupture with Mexico
any other power hardly be expected at present. il
at ALL but the effect Of the existing state of things
mercia affairs is about bad though actual hosti
ties going It the destruction Of confidence and
impression the public mind that destroys trade We
must look for exciting times until after Congress adourns
The fear Of commercial; policy being desanged with
the Texts and Oregon questions must keep all in hot
water, until the representative part Of the govern
ment separates, and public affairs allowed to subsde
again into quiet Fortunately this is the short session.
and little more than two months closes the delibera-
ons Of both bodies after which have ten months Of
cain and peace So far the movements have been the
part Of the Executive and his Cabinet-Corgress has
been in session about week. and nothing has yet been
DONE The Senate has before several important things
to act upon among which the Zon Versin and the
Chinese Treaties. The President obtained through
first agreed upon, for the ratification of the for
mer treaty and we trust it will be examined more
carefully and be received favoraby than last
session. Our commercial relations generally should
ceive the attention Of Congress- Within the past year
the Secretary of the Treasury has been called upon by
several Of the representatives Of the nations Of
Europe to regulate the duties their produc-
lions, &C., in accordance with existing trea.
ties. The governments Of Netherlands, Portugal and
chandse coming into ports from their own have not
been similar to the duties similar articles from other
nations, and in many instances the amount collected has
been refunded and in every instance complained of the
decision of the Secretary of the Treasury has been favor
able to the governments claiming Our tariff laws have
heretofore been formed and enforced without the slightest
regard to existing treaties, either through ignorance
through the influence Of party feeling. II is sufficient
that evsexist justice to interests and to
commercial marine, should be remeded as early
possible Our treaty with the Netherlands compels
to admit coffee into ports in the VESSELS Of that nation
free Of duty whereas the article coming from the
ports in American bottoms, would be compelled to
pay duty Of twenty per cent In the operation OF this
law we see that our own vessels, in entering
ports do not stand favorable footing foreign
sells.
Amidst the excitement growing out Of the threatened
difficulties with Mexico, and the consequent depression
in the stock Market it becomes necessary for capitalists
to look round discover stments for their capital in
securities beyond Of depression by any external troubles
that may arise OF all securities in such emergency,
we know better than railroad stocks These invest
mcnts likely to be safer and productive in this
country than in any other, notwithstanding which it
almost impossible to complete any great line con-
tempated to carry into active operation those nearly
finished. The capitalists Of this city, particularly are
very little disposed to lend their support to any great
work Of public Improvement They are unwilling to
advance hardly dollar, unless it is to produce i'm
mediate returns Unlike the Eastern capitalists, they do
not wish to lock mp their capitals in works that pay
dividends for years Everything here got mp for stock
obhng purposes largest capitalists and most dis
tnguished men are willing enough TO lend their names
to initiate any bubble but not for any public good. We
have during the past ten years. found in the list OF d.
rectors Of many of the worst bubbles Of the day
calculated create great deal OF confidence in the
cern and induce many to invest who otherwise would
have saved their property, but the explosion OF the
bubble Is discovered that these merely loaned their
to the company, and know nothing about It's af
fairs In any way This Is the way these things
Quoted here, which can, In measure, be attributed TO
ensively. We trust this policy will not be pursued in
the direction Of the Erie Railroad Company. The i'm
portance Of that road and the effect lis completion would
have the business OF the city, induces hope II
will not be made stock obhnr concefn Of In the d
recton Of the Erie Railroad Company there not single
individual who is not pecunary ableto take on himself
fair portion oi the burthea oi carrying through thi