The New York herald., 1846-06-05

MONEY MARIxnT.
Thursday, juno A-s r. M.
The stock market this morning presented the
pressed appearance and prices remain without any ma
terial alteration There has been variation of one
per cent in any Of the fancy stocks either way within
the past week and impossible to predict what may
be the complexion Of things in Wall street, from
day to another II is Of much astonishment how
present prices sustained. There must be q sudden
smash in stocks day.
Prices at tho first board to-day about. the same
as those ruling at the first board yesterday but at the
second board there was slight improvement Harlem
went up per cent Reading d; Norwich and Worcester
4; Canton Script.
II was reported in the street to-day, that several
houses, extensively engaged in the produce business,
had failed but there foundation for only The
business Of Of the best houses in the city has
cor some time past been selling in the street at wo
three and four per cent month and il probable this
TACT gave rise to the report that they had failed
We understand that offers were made for the loan
of 600 offs per cent State stock redeemable 1884,
for which proposals to be received by the Fund
Commissioners until O'Clock on tho afternoon of the
I'd instant
The literature fund has an investment Of slOaOOO in
the Oswego canal stock which is rembursable in July;
and we understand il is intended this amount
in the stock 1884 which will enable the Commission
ers to pay all the small awards for land damages and
rearagos to contractors until new loan can be adyer-
hsed for the remaining Of 100000. The absence
ofoers for this loan is pretty good evidence of the
tghtnen Of the money market
Cur accounts from New Orleans to the 9Th of May
state that material change had taken place in the con-
dton Of monetary affairs during the previous few days.
but the market the whole shade ee ser and there
was less demand for money than previously Some
ofhe banks were dscounting to moderate extent but
there was 30 much paper aAoat that by far the greater
portion found its way into the street. and was occasion
ally done at rates varying from to per cent per
month The warehouses grosnng under vast quan-
titles OF produce which have accumulated in the absence
e any facilities for shpping and until the stocks shall
have been in reduced we cannot look for
any sensible improvement in the money market
The market for Texas securities had undergone no
change. There had been further sales of Red
Backs at 81 0 cents the dollar there had been
NO transactions in bonds.
It s highly probable that Congress will pass special
act permitting the Secretary of the Treasury to issue
Treasury notes. bearing fve six per cent certain
amount instead Of resorng to direct loan Should the
secretary be authorized to issue Treasury notes for
twenty millions Of dollars all hopes of establishing
Independent treasury upon the specie SYSTEM this ses
Hon' will be abandoned, and the fears Of those op.
posed to that system removed It would remove the nu-
merous objections of the party opposed to that BILL and
IN tns event Of it, being re.establshed at any future
ume the existence Of these treasury will preven.
any very great rapid accumulation Of the precious
metals in the hands Of the various treasurers The iss
ing treasury notes would at this tme and under ex
sung circumstances, be attended with very many ad-
ven@ges It would have q very favorable effect upon
the money market 6rst because it would relieve the
banks from the apprehensens they now labor under in
relation to drain Of the precious metals and enable
them to extend their discounts the commercial classes
more liberaly and secondly, would cause specie to
how in those channels regulated by commerce and once
bring about an equalization Of exchanges and tho
artificial condition in which they have for time past
been placed When the balance between two important
commercial points deranged by any artificial unna
tural cause such the financial operations Of the 60
vernment, growing out Of rupture with foreign
power there must be very alarming embarrssments ex
peenced at the point from which the funds are drawn
This arrangement can only be relieved by removing the
cause producingi The operations of trade cannot re-
guate 1T they can only regulate themselves the arti
fetal cause must be removed before the rsm6caons of
commerce can 80 on prosperously and properly When
large amounts Of specie transported from the North
70 the South meet of the
government and are for time, drawn entirely from
the channels Of trade, the vacuum in tho currency,
caused by the sudden with Of these sums must
be Immediately supplied by some representative or
trade becomes at once affected balances deranged and
the whole movement much removed from its natural
state to financial dificulties Of such nature
a. endanger the commercial existence Of those who have
dsviated, in any way, from a legitimate business or
have extended their operations much beyond what their
capital will permit
The monthly statement Of the United States Treasurer
for June shows the amount deposit on the LIST inst to
have been $ls,470o63 &c. of which $II 47so6a 65 was
subject to draft The transfers ordered have been as an
nexed -
TRANsrERs Ordered JUNE.
TO Mechanics Bank, New York. ......,..x3 & 40 600
To Bank Of Mobile Alabama .......... 10000
T9 the Canal and Banking Company, New Or
To branch mint Of the United states, New Or ''''
leans, Louisiana. .....................l 80. 10000
$llsoooO
TRANSFERS ORDERED.
From Merchants Bank, Boston, Massachusetts, 10000
From Bank of Commerce, New York. 49,. 10000
From Bank of America New York - 100000
from BANK OF the state New York. 10000
From Mechanics. Bank New York. ........ 10000
From American Exchange Bank New York. ;. $1,000
from Merchants Bank, New York. ........ $4,000
From North River Bank New York. 5000. 10000
From Philadelphia Bank, Philadelphia Pa 49, $4,000
From Bank OF Commerce, Philadelphia, Pa. $4,000
From the Canal and Banking Company, New
From Wisconsin Marine and I;rs I.... isoooo
Company, Milwaukee, w. W.T....... T.. 10000
$I26oOo0
II will be observed that $6sO 900 have been transferred
from the banks Of this city 100000 from Boston, and
100000 from Philadelphia to Mobile and New OF cans
The estimates Of income and expense for the public
r.