The New York herald., 1845-02-06
MONEY MARK ET'.


stock market was very fiat to-day, and quotations.
raj instances, show a further decline Harlem fell
-oag Island /, Farmers Loan T. Morris Canal !;
n and Worcester improved I, Canton l, Pennsyl-
sl; while Stonington, Illinois, and Erie closed
Yesterdays prices.
City Fire Insurance Company have declared
fd Of five per cent, payable on the lath inst.
New York Life Insurance and Trust Company,
nd han per cent payable on the 10th inst.
f does not appear to have been any improvement
honey market since the bauks closed their quar-
ports, and, from the position of our foreign trade
'e N foreign exchanges, we cannot see how it is
for the banks to extend their operations with any
Of safety. Had the importations been reduced, and
ports maintained, there might have been some hope
ied'ate relief, but the banks, II seems from their
movements are Satisfied that there are dan
tne prospective. Since august, ls44-a pc
six non.hs-ths banks Of this city have reduced
ne OF discounts nearly ten millions OF dollars and
rosits have diminished full five millions This de.
in the operations Of the banks has hal very in.
influence over our local trade while it has had
title, if any, effect on our foreign trade The result
the importations are unusually large, while our
tic trade is very inactive. Under these circum-
the question which naturally arises is where can
ts for the heavy imports be found7 1t is not possi-
alta demand for actual consumption can be created
hterior ID already ful! Of goods, and many of our
,bbing houses have large stocks. The supplies of
manufactures in the country are at this moment,
large enough to meet any demand from the consu.
Tor the next twelve months In addition to the large
ss of foreign manufactures already in the markets
Domestic manufacturers have, during the past few
hs, been turning out stocks Of goods very exten.
Il. The quantity thrown into our markets from all
ources, must overstock dealers, serve to reduce
r, md induce overtrading In the midst of this the
/ cannot, dare not extend their operations they
graiualy Withdraw their loans and discounts from
mmercial classes, and patiently wait the explosion
u must come, If the course now pursued 10 not at
changed.
10 agents Of European houses, sending goods to this
try, will be compslled if the ,plcs come Ia very
|ly, to force their consignments of through
auctions at the best prices current, and re.
the proceeds at as early day as possible.
will create a demand for foreign exchange,
h will be the form of remittances until the premium
rces to specie point. when the precious metals will
quired for shipment, and the banks if much extend
hust experience drain. To be prepared for that
It, the banks determined to strengthen themselves
educng their lines Of discount and keeping their
egate movement as contracted possible. This il
'ny safe course for these banks to pursue and It il
ibe, by strict adherence to this pan they may pre-.
much embarrassment among the commercial classes,
'tave off the evils more expanded movement might
luce
here is at present very little doing in Sterling Ex
lgs. The packet of the 10th instant for Liverpool
take out large amount in bilIs as payments of the
lsylvania interest to European creditors WILL with
ioubt be then remitted, but at this moment the de
q is so limited that quotations merely nominal
on Paris We quote at ST 25 ST. 23a; Amsterdam, 4ot
!; Hamburg, s5s; Bremen. 79l 79s
'mestic Exchanges are very inactive. We annex
giving the current quotations Of the day. but at this
en- 'heres so little doing in these bills that we can
consider the rates nominal