The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-12-21

are overwhelmed With immense debts nd they are n
bsrrassed in their Hssncia operations such EXTENT
that their creditors have 1t in their power any Mt
to cause the stockholders serious alarm and the company
serious inconvenissce. The debt of the Harlem cta
pany exceeds a Million does the Norwich and wor-
csser the Long Island company owe about six huns red
thousand dollars and the business of each road viii bu-
just suffice to net the amount necessary the in.
tersst on the debt promptly and nothing but that PIE.
vents these works falling into the hands Of the bond
holders. Each Of the above named companies has q
floating debt which be easily disposed of a.
the bonds
The appearance Of public affairs il not of the most f.
vorabls Aattsrsg character. and We anticipate din
cutss in money markets. calculated to test the
strength of the commercial classes Of nonisd ins
tutons and Of all Incorporated companies embarrassed in
the slightest degree their finances The only consola
ton the commercial classes have. Il that he
government is in tho boat with them.
There IL some satisfaction in that fact, a. the
government has in its power to remedy at once the
evils we fear; and is very possible that its financial
sxgsnciss may be such will induce the party In pow
sr to apply the proper palliative The only thing that
will turn aside the diculies to be apprehsndsd from
the position Of our public affairs, il posPonsusnt Of
the specie clause Of the Independent Treasury bill
total repeal of that provision is not called or would
by no means advocate such movement 1t 10 nrn
belief that in pssceabls times when the laws Of trade
operate in the natural way, when there il nothing to
dsturb the ramiaoasns Of busn ess there s nothing
admirably calculated to increase the vaue and reduce
the volume of the currency and increase the circulation
among all classes OF the precious metals the enforce
Of the spses clause of the Tndspendsnt Treasury
act But when At war with foreign nation whom
the government il compelled to contract large debt
when the finances Of the country have become dsraDgs
and large amounts Of mossy are transported from ore
part Of the Union the other to meet the demand fer
funds carry h0stii and entirely Independent 81
the balances of trade anything else connected with
commercial matters 1t il not tbs time for introducing
permsns into financial policy, particularly these
calculated to restrict the supply Of money and to raise
its price.
The Secretary Of the Treasury mast, before many
months eapse issue proposals for large loan at IN in
tsrest probably, of not than six per cent What
probability will there be Of this loan being raised If the
specie clause Of the indie pendent Treasury act goes int
operation at the time stipulated About ~ much chance
there Of making loan at three per cent It h
an impossibility The thing cannot be accomplished;
and the will be to rescnd
measure, which, existing Giro umstancss show, asso.
lutey necessary. 1t would be much moro creditshls
the party in power would at once pass resolution post
poniug for an indefinite period until the close Of the
war; the enforcement of the specie part Of the Treasury
act An that necessary to secure and consolidate
our present prosperity, notwithstanding the sxraordt
nary expenditures ofthe to ensure an easy
state Of the money market-to facilitate the nsgotstien
of any loan which may required to carry the wsr.
and to give confidence to all classes engaged In trade
the Immediate adoption of resolution autherising the
Of that portion of the independent Tres
sury which considered, at this tns particularly Oh.
jectiopable.
The annexed comparative table exhibits the quotations
for stocks in this market for each day Of the past week
and at the close of the week previous -
QUOTATIONS THE rNINcIrAL srooxs IN THE NEW