Herald of the times, and Rhode Islander. [volume] (Newport, R.I.) 1846-1849, 1846-06-18
The business prospects Of the Csuntry.

IHU UuNihtss PIVSPtes VI tho VVwuuy'
The New York Evening Express thus dis
courses upon the prospect before us a, the pres
ent time.
Although it is but few days since the sailing
of the steamer, yet there is decided change in
the business prospects and feelings Of the CON-
muniiy, and the monied concerns of the city
and country.
The friendly and pacific overture made through
the British Ministry, and the prompt and de-
cided acceptance by the Senate of the same
have put a different complexion on every thing.
There is no longer any doubt resting in the
community that the negotiations will be prosecu-
ted to speedy and pacific termination. by
this settlement all doubt and suspended ques-
tions with Great Britain are closed up and fin
ished "a state Of peace and the most amicable
relations, it is believed, will exist and be perpetu
ated between the two greatest maritime coun-
tries for long period of time. II is believed
that the war with Mexico must soon terminate.
Singly and alone, without the aid and counte-
nance of any foreign nation, Mexico cannot, in
its present weak slate continue a contest that
must be fatal TO its interests.
The settlement Of this question has had most
favorable influence on stocks, of every descrip.
tion most of the Railroads have gone up, from
five to ten per cent, and some even more
Stale and Government securities have all im-
proved and are betler,-nor is the present rise
deemed to be all that will take place ; as conf
dence becomes more restored, and as business
increases, they will gradually so up higher
The money market has suddenly become quite
easy, and the banks are dscountng again with
freedom. Four and six months paper is readily
taken, both in and out of the street.
\ There is good reason for increased facility,
and more abundant state of the money market
For some months, all classes of businessmen
have been contracting their debts; all the ten
IIdencies of trade have been to draw in, until the
banks and capitalists have large amount Of
| funds, on hand, remaining idle AS confidence
increases and prospects brighten, there will be
a renewed disposition to invest and employ their
money.
II A large amount of specie has been drawn for.
to be RENTED South, to meet the large expendi'
lures of the Government; and exchange has
been against us in this direction. As, however,
the specie still remains in the country and as
the current of trade will soon turn it back again
| it has had no influence on the market.
Foreign Exchange, particularly that on Eng
/ land, continues to rule in our favor. Sterling
Bills are most abundant, at 8 to 81 per. cent,
which is at least one per cent in our favor. SO
long as this state of things continues, specie, in
stead OF going out, will come into the country.
That the Exchange will continue, for at least
short time in our favor, is probable. There
has not been much disposition to order any large
supplies, from abroad. Our political relations
have been so unsettled with England together
with the war with Mexico and the unsettled
state of the Tarll,-it will still be some weeks
before the determination of Congress can be
known, in relation to the latter and it is not
probable that many goods will be ordered be-
fore all these matters are in better train than
at present
\ Produce of all descriptions has fallen very
low, but particularly Flour and Wheat the
two last have touched point seldom reached.
The demand for Flour for the European
market, has become very limited But the de-
mand for Corn and Rye has not diminished-
Both these, of a suitable description for the
market, are taken readily for cxpor, to England.
, t'reights have improved, and vessels are in re-
IIquest. All British and other vessels arriving
here with passengers, meet with ready demand
and quick despatch.
1t is very early in the season to determine
what the condition of the crops will be. In
some sections of the South, some complaints
are made of injury done to wheat hut the ac-
counts from the great wheat growing districts
of the West are most cheering and favorable.