The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-12-04

of In the mporations, and of course corresponding
decline in receipts for duties The amount OF revenue
from customs received for single months early in
the season. was than fifty per cent greater than the
total value ofthe importation for November We not
surprised at this change in freign trade. and
attribute principally to the great depreciation in the
value Of all descriptions Of foreign uactures imme
daiey ON landing in this country Had prices been sus
tanned, the importaions would have continued the
season commemorative supplies would have been i'm
mense, and nothing could have prevented another
pension OF specie payments In less than three years
Happily this result has been prevented the period of
prosperity is at least heightened Since August the
imporations have fallen of at the rate of about fifty per
cent per month Should the reduction hold good
throughout December the total value Of the mportaons
into this port for the year will hardly reach seventy
millions OF do lars Immense losses have been realized
On the foreign manufactures imported into this country
since last July previous to that time prices
but the large receipts since have overloaded the
Market surfeited the demand, and reduced prices to
point paying losses notwithstanding many are
serr sufferers from these causes look upon the
suit Of the al trade being Of the most fortunate
dhngs that could possibly happen to the community at
large will have very favorable influence on the
movements Of importers and foreign commission houses
for the approaching spring and may have sufficient effect
to keep the supplies from abroad down to Point equal to
the actual demand for consumption We cannot conceive
ii possible to prevent another revulson in commercial
affairs unless importations confined to proper
Limits. To such desirable thing as permanency
in all matters connected with trade and commerce. it il
necessary banks should with the greatest regu
arty in oil their operations and prevent as possible
the great fluctuations that have heretofore been expe
renced Had banks been very much expanded during
the season OF large importaons there have been
greater losses and ruinous results but, foriu-
nately, the banks were not in condition to extend.
They had in the perspective the Presidential election and
was the general impression that the party favorable to
die establishment of United States Bank would
into power. This had very great influence on the
movements Of the State banks and kept them in check
Had il not been for the fears arising from such temna
ton Of the contest these banks would have extended to
meet the demand for facilities from every quarter until,
through the extension Of credits inducements to over
trade and speculate large portion Of the community
would have been involved In all kinds of extravaganza
that would have rapidly lead to bankruptcy and ruin
The next season of large mporaions will not pass off SO
harmlessly as the banks will be again under such
restraints as they the last time and will be i'm
possible to check the supply
We annex table showing the quantity of some of the
leading articles exported from Boston for six months
ending Nov 30 large portion of the merchandise ex.
ported from Boston goes to foreign ports the transport
ia ion to domestic ports generally takes the inland routes
and does not appear in the official returns from the Gus
tom House.