The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-11-22
MONEY MARKET.
Friday, November 2I-6 p. NJ.


Quotations for stocks rather heavy to-day, and
the sales rather limited There was pause in the mar
ketas operators awaiting the advices from Europe
Norwich and Worcester improved per cent Ohio Lie
and Trust, Harlem, Erie Long Island, Mohawk, ILL
nois Pennsy lvania SIS and stoningon closed firm at
yesterdays prices. Canton fell of per cent; Morris
Canal, !. Reading Railroad ! Wilmington ! and
Farmers Loan, /.
Application will be made session of the Legisa.
ture of New Jersey for bank at Paterson, with
capital Of $500 o00 such amount of capital the said
Legislature may ft to grant An application will
also be made for amendments the charter of the Paer
son and Hamburg Turnpike Company
Branch Of the State Bank OF Ohio with capital OF
100000, has been organized at Akron and the stock
is all taken. Its name, the Bank of Akron It will 20
into operation Immediately.
By the arrival OF the steamship Britannia Boston,
from Liverpool we have advices from that port to the
4h inst and from London to the Sd instant be-
ing sixteen days later than those brought by the Gale
dona and thirteen days later than the advces by the
Massachusetts,, at Holiness Hole. The commercial
counts of the most vital Importance and highly INFER
esDg to this country. Advces from Europe, received
within the past twsnty years have not been Of such
important character those by the last arrival There
are so many concurring causes to produce complete
revusion in the commercial affairs of Great Britain that
look for of sufficient power sweep away many
of the institutions of that country and perhaps change its
whole political and commercial existence. The first thing
Of Importance the deficient harvests will bring about
must be modification of the corn laws The excite,
ment already created by the prospect very short
supply of food and the loud calls for opening of the
ports have compelled the Government consider the
demands and there very great probability of their
being acceded to Should it be determined on in coun-
Gil to open the ports Of the kingdom for the admission
Of foreign grain at nominal duty it will produce po
litical commoon and action throughout the country
that will shake the very foundation of the
We that OConnell has already commenced agitatng
the subject in Ireland and every political party in the
kingdom will, when the thing ripe gather its strength
for action. The starving millions wait for the
slo movement of Parliament the government must
take the responsibility of providing breadstus at the
cheapest rate, at the sacrifice of whatever political in
stitution of the country may stand in the way Every
Of supply usually depended in times Of scar
city has failed will shortly fail. The most
tensve graingrowing sections the continent
have this year hardly enough to supply the de-
mands for consumption from the local inhabitants
The Baltic and the St Lawrence will soon be frozen
up, France has no more breadstufs than she
quires and the only hope of the people in Great Britain
is in the abundant crops of the United States. Foru-
natey have sufficient and it is only necessary that
the restrictions which have heretofore existed upon the
introduction grain from this countryshoud be removed
to ensure supply large enough to make good any de
fciency. An importation OF grain into Great Britain
from this country be paid for in bullion, the same
as though imported from any European country. The
balance in our trade is already largely in our ia.
vor and the addition to exports OF several mil
lion barr OF flour will set the tide Of specie this way
and give us an supply of bullion. The Bank
Of England in anticipation of very great external de-
mand for the bullion in her vaults sometime since raised
the rate OF interest," the drain has not ceased the
turns for the week ending 2eth Of October, showing
decrease in that time, in the bullion Of ease, $685.
weekly decrease of this amount would soon bring down
the bullion to a panic point when the drain would in
crease with alarming rapdity.
The deficient harvests in Great Britain have doubt
been the prime Of the present rcvusion in CON-
mercis affairs but there many concurrng causes
producing this crisis that II must be final
The spsculations in railway shares. having been
carried to such immense extent, VIII react
upon the market and the ruin perhaps ne more
general and more complete, in consequence Oh inc
high prices OF breadstufs and the severe cohracuon
that must Immediately follow such an immense eNPan'
sion Had the Bank Of England placed upon
the money market merely to have produced crisis IN
,h railway lamentations the check would have beenre
n,ovsd ,he moment the object accomplished and the
,,rp., gradually relieved from the pressure, but the
beryess cannot be supplied as soon as the spec
citations in stocks be checked and the policy adopt.
"a nv the bank must therefore, be adhered to-
rhsdrain Of bullion from the bank which must continue