The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-05-31

By an exhibit OF the receipts and expenditures for the
year ending April g. 1874 appears that the former
been $25l 1871 and the latter $S6 $685. leaving surplus
OF S642Ss The receipts during the past year have been
increased by the sale of the city The receipts
for the present year estimated The ex.
penditures of the city have been very small compared
with previous years. in consequence Of the very limited
extent of public improvements
By circulars and letters from the South we are advised
that the prospects that the crop of will
| materially injured by the freshets prevailing
throughout the cotton growing section of the country
Advices have been forwarded from the South to 60 Eu
rope by the steamer to this effect but they should be
ceved very cautiously, and more confidence placed
in them than the facts warrant Judging from all the
ports that have reached us, should think that the
planters were sure of being ruined but make every
allowance for these statements and believe that the
crop of cotton will be larger than the last and perhaps
greater than that Of s43 There bears in spe
cuations well in stock speculations, and the
expedients resortsd in running and in depress
ing prices The flying reports last winter in regard
to the crop just received reduced estimates OF the ed
down to 5000 and 800 900 bales and the
tar show crop of least 100000 bales The
to Europe last fall and winter about short crop
ated all the speculation that ragged extensively in Liv
erpoo for short time Spectators the other side
have been SO often deceived by those reports that is
hoped they will for the future look upon all with susp
con and dsrust and content themselves with waiting
until something more is known than report, in
| formation received from some other than interested
| sources.
Mr. Webster in his speech at Trenton, says nothing
about National Bank. In abiding to the currency, he
advises the banks to restrict their paper and
fine the currency to its present value He argues that
the great question that divides the parties the
tn lat
the merits of the present act He avoids all auson to
United States Bank There is a great deal of policy in
this especially in this latitude The discussion of that
question will be more popular few degrees further
south. As Mr.. Webster has opened the campaign, we
must take for granted that he speaks the sentiments of
the party he represents on the currency question He
| strongly advocates metallic circulating medium. An
extension of paper issues by the banks prompts specua
on and creates fictitious values to all kinds of property
He does not deny but that paper currency is safe but it
is subject to great fluctuations and runous reactions So
long paper dollar represents dollar of specie, the
currency is safe AMI sound but there are many in
ducements to increase the quantity Of paper money aoa
the power is in few hands, and il can be easily
sxsscissd-thetk cannot be withheld. Ninety-nine out
Of every hundred connected with the movements of
banking, interested in producing high prices and in
extending credits This being the case how can we ex
pec any permanency in the value of money any limit
to the amount put into circulation The position taken
by Mr. Webster in regard to the currency will doubt
astonish many of his followers but he is sound on the
subject-and if he graft his principles, this point
those of the wing party there will not be that danger
attached to their success that have heretofore ina
gined Mr.. W. says there danger in this paper money
there is danger that il will not be kept within strict limits
of subJection-that to-day there may be expansion
and to morrow a contracton-hst prices may be high
to-day and corresponding reaction tomorrow and that
then disaster bankruptcy and ruin assuredy close the
series of fluctuations.