The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-10-26
MONEY NlAkkkET.


The money market continues exceedingly easy, and
the banks freely discount all the first rate business paper
Offering In the street the rate of interest ranges from
seven to twelve per cent per annum Nothing out mo
very best paper will be taken by the banks and those
holding paper which does not under that head,
have to shin round Wall street for shave. The rates
out of doors depend upon the quality of the signature
and the ity Of the holder The banks have for
the past months confined themselves more closely to
their legitimate business than have before noticed
for years. and trust it will be long time before they
depart from the course they now pursuing. None
but stock speculators object the present policy OF
banking nsitutions and the Of complaint on
part of that class the restrictions upon their
liar business So long the banks conAne themselves
to legitimate operations long We depend upon
business being confined to its Legitimate channels.
Stocks, during the past week, have very quiet and
quotations remain without any material alteration 1t is
impossible to get up any extensive reculative
ment and the brokers have the whole business among
themselves The outsiders arc shy, and not to 10
drawn in easily they heretofore have bean Many
of the fancy stocks used in Wall sset for speculation
very low, compared with previous prices but many
still very high, when take into consd GRAFTON their
value The railroad stocks, particularly rule very low.
not only far regards their actual value, but com.
pared with prices which have ruled within the past two
years. We do net however, look for any immediate
improvement in prices, matter what may be the i'm.
provcment in them investments There is not rail.
road stock in the country but that will be few years.
valuable than at present The good will be BETTER
and the bad will be good. The business on every one
in operation will continue to increase every years and
those paying dividends will annually increase
them and those which paying investments,
will in short time be productive. These works
intimately connected with the progress Of the country
that they must advance together.
forf fame in llatra Inv
do with the real interests of the country They
beyond being affected by the movements Of any clique
of stock spectators. The in exceedingly
prosperous condition, and the country is rapidly pro-
crossing in every thing tending to greatness. We
nothing he perspective calculated to check this pro-
gress every thing is established upon healthy ba-
sis, which will require several years Of the most reck
less and desperate speculation to destroy The
injuries to trade and commerce which many anticipate
from the changes to be made in financial and
commercial systems nothing but bugbears and exist
only in the msgnaons of those whose minds are poti
cally diseased.
The operation of the Independent treasury system
will hardly be realized. The issue of treasury notes
i'll annul the specie provisions of that complete
ly prevent the slightest arrangement in the cur
rency. So far the if is concerned its reduc
ton amounts to nothing, regards any thing connected
with foreign domestic trade II it does not pro.
duCe revenue enough, the government fund1
in other way; and if Does the Consuming classes
will receive the benefit of it, So far the single tcle
Of coal is concerned the poorer classes will be very
much benefited by the operation Of the tariff At
this of the year this is very important item
and every family in this and other large cities is deeply
interested in it, Coal is already much higher than it
this time Last year, and from the extent of sup
ply of domestic COAL it would be much higher before
the winter had passed away, if the supply of foreign
coal coming in under the tariff not likely be
large Very large quantities of coal from Nova Scotia
daily arriving and going into bond, for entry after
the LIST of December, under the act This coal will
come into competition with the anthracite and tend to
reduce prices for all descriptions very materially The
supply of coal from mines has not been affect
ed in any way by the contemplated changes
in our tariff. The different modes in operation
for conveying coal to market, have this year been
actively employed, and have in every instance in
creased their business compared with last but the
schuylkil Canal Company have not had their works in
operation and the supply from those regions has not
been large this season, compared with the peri
cd last There not therefore, been in the aggregate
such increase in the receipts the increasing
mand for consumption requires
The amount Of coal shipped by the Lengh Canal dur
ing the week ending October Goth, ard the open
ing Of navigation, has been follows