The New York herald., 1845-01-30
MONEY MARK Eff.

MONEY Market
Wednesday,, January 2O-6 II. M
The stock market very heavy to-day and quota
tons ruled below those current yesterday Norw
Worcester declined per cent, slonington L. Canton
Long Island Farmers Loan Illinois, special advanced
per cent, Indiana 4, exas Bonds Il while Ohio 6s
North American Trust, and Erie Railroad closed firm
yesterdays prices There sales Of Pennsylvania
bs either Board Spectators in this stock have their
hands full and disposed to await the opening Of the
books before getting more deeply involved. The pay
ment Of the interest Saturday Is still matter Of much
doubt The prospect at this moment is rather in favor
of nonpsyment The price value Of the stock will
not be affected much either way, by the pay ment
payment OF the Interest.
Tha Jackson Marine Insurance Company have dc.
cared dividend of per cent the capital stock
per the scrip, both payable the LIST OF
February.
The expectation Of specie from this port from the st to
the % inst amounts $775240 The shipments were
principally to Europe.
The condition Of the money market has very unfa
voraba influence the movements of trade The busi-
parts of city for this season. unusually dull
and there does appear to be those preparations
king for the spring trade that usually at this time
Our imporations far this month have been much
larger than anticipated reaching very the value
OF those for the time last year The foreign
acures coming into this country must be principal
y owned on the other side, cannot believe our To-
cal importers would go into this business extensively
in the faos of the existing condition of money market
aud commercial affairs generally. The commission
houses Of this city in great measure to blame for
the large impcrtatons Of the past two seasons and
have doubt they will do all in their power induce
manufacturers in Europe furnish them with large sup
plies this spring These houses have interest in the
value of the goods- is immateria to them what they
cost-the market price all they look to- and provide
customers accordingly Their commissions and guaranty
they throwing whatever loss there may be- from
depreciation damages, &C. on the owners abroad These
houses must msrepresent the state Of markets to the
manufacturers Of Europe they would nor, in the
face Of the Immense sacrifices submitted to last fall and
the large stocks in this country forward such large
supplies. These houses in seeking consignments, are
compelled, by the competition existing between them
particularly this city, to resort to per-
cty proper tending to advance the general prosper
ty Of their business Any Misrepresentation must react
upon themselves, and eventually destroy branch of
trade that has hereoforebcen very extensively and pro-
htably conducted The manufacturers of Europe are
striving ts extend the consumption Of their fabrics in
every country; in their efforts they often glut the
principal markets. and by competition to monopoze the
demand far the markets Of this country
harvest European manufacturers is past they
gathered riches and increased their rength from
faacy and although yet young, able to supply not
only the domestic demand for mlny articles, but we
rapidly building up in foreign countries and
able successfully compete with the manufacturers Of
a1y nation In the world.
The ncation of the Chinese Treaty at Washington
and at Canton. is the most important commercial
me of the age. The terms of this sgreement far as
have been able to learn Of the most favorable
ture and commerce with the Chinese will placed
Al ES,fip u sc
stated that the Of this treaty have been made
known to some parties engaged in the China trade who
monopozing the facilities extended to this country
until the official document is given to the public This
very probable IL the treaty contaias rv. ges Of su
fcen importance to operate upon at once Fer instance
shoad certain description of mere handze be admitted
into the ports Of China upon favorable than
heretofore required exclusive knowledge Of that
would enable the individual individuals possessing it
to derive great benefit from it, by making shipments to
arrive Immediately after the ports opened All
public documents, particularly commercial treaties
should at be published We have advces stating
tina. the c. treaty had been ratified Canton. The
Senate of the United States have unanimously accepted
ths terms it proposes, and therefore cannot imagine
what object there be In keeping the document
cret. We have not moment to lose in cementing
connections with the Chinese We have very power
full rival in the field, who will not leave stone
turn to prevent the extension of commerce in that
part OF tho woild. Our trade with the Chinese has al
ready created considerable excitement among the
aourers of Manchester, and have doubt but that
combined effort will be made by the manufacturers Of
q eat Britain to undermine and if possible destroy
trade in manufactures coming In competition with
theirs.
The ability Of the delinquent States to the pay.
ment their debts cnnnot be for doubted. II
only requires just system Of taxation the
property Of each State. The taxes levied not
collected the people complaining Of the principle upon
tas tixes assessed A reduced and equal rate
of taxation, with stringent laws regulating the col
lection, would redeem the credit of these States
than all the other plans proposed. The
taxes levied would, besides paying the current
expenses of the State. pay part Of the interest on
the State debt The State Of Indiana, Of oil the Western
States IS without doubt the richest in resources Her
debt is less than Illinois. with extended means The
people OF Indiana are not individually embarrassed
with debt than the people Of Ohio, with population Of
about 800 o00 with taxable property valued at $i5s0
oe, VITA debt Of $40 sas ooo the interest which is
$685. 40 per annum, there cannot be any good
why the should make effort to deal honor
ably with her creditors
From the Message of tho Governor to the Legislature
this winter we should Judge that the finances Of the
State past redemption, that the full interest could
not be paid and that the people almost
with the extent of their pecunary liabilities and that
there hope Of relief The creditors of the State
much dishear.ened at this statement but the report
of the auditor gave more encouraging account. This
officer says that Indiana is perfectly able pay every
cent Of the interest on her debt annually punctualy-
Authat is necessary prompt and eics legislation
the lbec Several propositions made 10 the Le
gature tie session just closed by the creditors Of the
sate and report was made them but the adjourn.
msnt took place without making any movement in the
matter We must now wait another session of the egis
laue in the meantime the debt is rapidly increasing by
the accumulation Of interest and the State 10 daily get
ting more deeply involved. The burdens of the people
becoming annually heavier, and every year must in