The New York herald., 1845-01-14
New YoRK CRY BANK

Estimated.
We estimated from the best data the condition of
tho banks of this city at this tme showing decline in
the discount line and SPECIE with increase in circula
tion and deposits this in connection with the existing
state Of the none markets. and commercial affairs gene
rally presents position Of things any thing but favora
Bile to the mercantile community at large. The next
question is what has produced this state of things and
what will be the result We trace the TO three
distinct The first and prime was the de-
preston in the cotton market and in prices the bad repu
tntion OF cotton bills the demand for specie from the
hanks for export TO supply tie vacuum produced by the
absence of cotton bills of high and undonbted credit and
The movements ofhe public deposits These are the di
rect causes, but the immense mporations OF last
year. which produced these Our foreign trade last
year. and the state Of prices early in the season. have
genderel evils that will lead much commercial embar
rersment The imports for lsa4 commenced in January
aud continued to increase rapidly the advanced
until 'he aggregate value for the year amounted to
S74 ITO 26s There was early in the season. very great
speculation in Liverpool in cotton, commencing in
january, and continuing until the middle Of April
and prices were run mp to high point
until the supplies being much greater than
anticipated, the whole bubble exploded, and prices
rapidly declined Notwithstanding this change in the
value of our principal exporting staple the imports OF
foreign manufactures continued large before, until
reched for the year. Si5 6ss b2s This balance must be
paid and exports are not sufficient, the precious
metals must make up the amount The immense importa
tions OF foreign manufactures in ls44on which this ba
iance was creaed-produced glu Of goods IL TINS MAJ
Ret tempting cnr obbng houses to purchase more oxen
siveiy than they otherwise would and reducing, from
time to time prices to point ruinous to those having
large stocks. The immense stocks held by the jobbers
generally compelled them to extend their business, and
IN vvlo
for the purpose ofreducng their supplies This turn
induced the country merchants purchase exen
sivey thar anticipated and the result ofthe whole
mert is m amount OF overtrsdpg which must q
great deal Of difficulty. In connection with the over
trading all classes during the past year. has, within
the past month too been discovered that the
the interior will none great expected, and that
payments due the jObbng houses Of this city will not be
made promptly anticipated. very great change
has come upon the complexion Of commercial affairs
very suddenly and that change is by favorable.
We have indebtedness abroad to lquidae, without
the wherewithaI to the extent necessary. Our great
staples daily depreciapg in value while the quantity
produced was larger We annex table showing
the value of cotton exported from the United States
CorroS EXPORTED FROM THE UNITED STATES.
Splasd ffa snd sss 7assS9 ,s,,lsS,s 90"
- ozl,so,.oo one2,sls 1Sl,1s2oN saoooo ouo
Tsssp TTsssl p'u.d go s39ss, 'ss cS css
Estimated.
The aveugeprce per pound for the quantty exported
in is43 was about six cents AM making up the esti
mate foe lsio have reduced that rrice ope.,hird
making the aggregate value of tho export of this staple
nearly fifteen millions Of dollars less in lsas than in s4s