The New York herald., 1845-02-25
MONEY MARKET.

The tendency Of prices Is still downwards The
ed than at the close Of the last week stonngton decl
ned a Farmers: Loan 4; Erie Railroad 4; Morris Canal
lGas
em Canton and Ohio 6s closed at yesterdays prices
The depression in the stock market has in great mea
been produced by the rumors current in relation to
the annexation of Texas and the movements of Great
Britain in relation to Mexico and California. The
had nearly grca, effect upon the minds OF operators
as the actual passage Of the bills in favor OF an
passage Of the nnexatoD bill through the Senate and
the signature of the President the BILL could not have
more tendency upon sae market I'm the hun
Any little excitement any turn in political affairs may
make, is seized hold Of by the bears, who magnify and
increase it in every way, and use i for the purpose Of
hammerng down quotations for stocks In hs they very
often succeed.
The course the banks are pursuing cannot but have
very favorable effect upon stocks and the facilities they
afford stock operators sufficient to Offset almost any
rh hsnt
:heir operations almost exclusively to the brokers'
Stock loans are preferred to other they are sup
posed to be safer and under better control There exists
in this city men Of large capitals whose business 1t to
loan and invest their money There private bankers dis
short time control this branch Of business leaving the
banks to fill their lines of discount by loanson stock
offer their bills receivable to private banker for dis
count than to board OF directors in any one Of our
banks where prejudice private spleen or rivalry in the
same line of business may create disposition to embar
brought to against the passage Of any ndvi
duals note notes, tohe discount drawer. private
broker decides at once upon any note presented to him
for discount The applicant Is not held in suspense
until ten or twelve can make up their minds upon the
su0ject, and when the holder confidently expects
lief to fnd his notes returned with corner turn
ed down and no fsrher satisfaction given. Any business
operation between man and man is settled at once and
the thing is undersood but between individual
and any corporation. One has soul and the other has
not The banks of this city, conducted of no
to the commercial classes but on the contrary
an injury The merchants have, heretofore depended
upon the banks for discounts, when money plenty,
but in times of scarcity, the banks have found other
uses for their money; but dscountng business paper.
Now the merchants cannot obtain discounts from
the banks, although money only worth from four to
SIX per cent per annum 1t il to be hoped that the
commercial classes will cut themselves clear OF
the corporated banks and conne their business the
private banking establishments By doing they will
and induce others to into the street. carry the
same business II will furthermore weaken the banks,
and eventually compel them reduce their capitals
tract their operations and drive of them into lqui
dation These institutions were chartered expressly for
the benefit of the mercantile classes they were ncorpo
rated solely to aid and extend the Of trade and
commerce. upon correct and Legitimate principles for the
OF the capital for the purpose Of establish
ing system OF credits and for the advancement ofevery
branch Of business upon solid basis Instead OF carry
ing cut the ends for which they chartered find
them devopg nearly the whole OF their to en-
courage stock speculaons. leaving these engaged in
the commercial require very little aid from these
institutions and not but that the refusal OF the
banks TO discount business paper freely they former
ly did will prove ultimately more beneficial to the com
munity than IL they pursued opposite course.
The report Of the Secretary OF the Treasury oil
the Commerce and Navigation Of the United States has
been presented both houses of Congress- We have
only been able to obtain extracts.
STATEMENT or VALUE OF DoMEsrrc Exronrs FROM
IMPORTS INTO, THE UNITED STATES, FOR THE YEAR
.uNr