The New York herald., 1845-10-19

this would give her fourteen days passage. We may
receive her early this morning If il be favor
able for the 'rogues In gram" very little pety will
enter their souls 10 day; they will be absorbed In
the price of -four.
The Mysterious Movements OF Trade and
Commerce.
We are more and more disposed TO believe that
we are in the commencement of most interesting
period in commercial prosperity, Initiation, enter
prise, adventure, fortune, misfortune, and final eX-
ploson From a full investigation of the banks
throughout this country, we find that in the aggre-
gate they are in the same position as in $780, Just
before the great commercial speculation OF that Pc
rod commenced. But in addition to this, during
the last two or three years The city banks OF New
York, Boston and Philadelphia have commenced a
movement OF initiation, which has increased tnelr
credits probably thirty TO forty per cent 10 what they
were in 1870 In fact those city banks are dividing
from eight to twelve per of interest on their pro-
fits during the last year.
There is at this time most interesting discussion
proceeding on the facts and phenomena of the COM
mercal world, between two sets OF enthusiasts the
''bus" and the ''bears"-one set maintaining that
there will be great period of speculation, and the
other, that there will not. The mystery of CONNER.
cal affairs consists in the collection of facts, devel-
opng the position OF things, and the probable
course which speculation may take during the next
four years. We disposed 10 investigate this sub
lect with perfect mpartialy, and TO state our con-
vcons 10 the public frankly and expeditiously as
possible. Our own belief, from all we have
seen, is that we are in the commencement of that
great period of speculation that will infinitely trans
cend any that has yet taken place in the world
This period of speculation has already commenced
in England and France. II is now Just on the verge
OF commencing in the cities of New York, Boston,
and Philadelphia. The country itself is quiet and
easy, prosperous but not speculative. The causes
which produced the present symptoms in the large
cities, no doubt originated in the vast number OF
bankrupts who got rid Of their debts under the
recent bankrupt law, and who now come
into the field full OF ardor and speculation with vast
amounts of their concealed assets. 1t is supposed
that out Of twenty or thirty thousand bankrupts,
who took the benefit Of the act, an amount Of debt
wiped away amounting to five hundred millions
of dollars The assets OF these bankrupts in the
hands of the receivers or assignees, did not amount
10 five cents on the dollar and yet is generally be
lieved that at least one hundred or hundred ano
fifty millions of dollars, were concealed by these
bdHhIupts IHls lS now SThuudlly COHllHg
out into the field Of speculative action in CONNER
ca affairs, and producing the full display of the re-
Operative energies of speculation.
In fact, looking al the increase of population in
this countryside gradual increase of the crops-he
condition OF the banks-the commencement of
financial lnfation-the growth OF raroads-the
increase of travel and agitation of all commercial
adventures-and particularly the probability that
all the great cities will be united by means Of the
electric telegraph, we disposed to think that the
next five eight, ten years, will present greater
scenes of speculaton-rlse and fall of prices-and
variatons-and fortunes, overwhelming fortunes
too-than any period in past history The same Pc
Rod of extraordinary commercial activity has be-
gun in England and France, which may be said TO
be two years ahead Of this country. We may pre-
pare to great things in commercial affairs in a
very short time.