The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-02-15
rs rate operation Our public debt. will no. then be

rs rate operation Our public debts will not then be
the burden they now shall not be compelled
TO make those large remiances account Of interest,"
thalwe do We shall be like the government of
Great Britain in relation their debt State bonds will
be held by people So much for the effect Of large
remances of State stocks in payment for our exports
These being disposed Of the ether remittances must he
In merchandise or specie. In relation to an immediate
expectation of manufactures from the other side
only say that is pretty well settled that it will be
ceedDgly limited; the high price of the material for
manufacturing cotton goods is OF itself sufficient to check
the operations OF the manufacturers very materiay but
when that exists in connection with high prices for food
there must be very unusual curtailmsnt of business
among spnners, reduced supply and consequently
a reduced expectation for some time TO come This
pons to large expectations of specie payment for the
immense amount of produce which has already gone
forward and which will contnue,o 60 forward for tho
next six months
It is the impression of many, in whose judgment and
on;non we cannot have great faith that there will be
within the present year an enormous importation Of
foreign manufactures II their opinion that there will
be large manufacture Of goods expressly for this mar
kat to pay for the exports from this country With all
due Difference for the opinions of these parties beg
leave to differ with them upon this point We differ with
them more regards time than in an other way az there
is no doubt but that ultimately must be much larger
i
sent We must give time for the favorable position our
producers are placed in to have effect upon trade
They rapidly getting rich, but it will require time to
create that demand for the uxures of life which pros.
parity invariably produces. In the meantime there
must be great revolution in prices for the raw material
which these manufactures made of, and much
consumption of that material than the present
supply will warrant
There is vast difference between the present position
of things in this country and those which have preceded
revious revulsons in commercial affairs The prime
cause of the endorsements existing in the money mar
kets of Europe the extensive demand and high prices
for our most important staple agricultural productions
This demand and these prices not the result Of pro-
acted specuations but the result Of legitimate demand
and supply demand for actual consumption and sup
py short of this demand and unless these things lead
into temptation md induce to become spectators and
so extravagant as to lead to overtradng in foreign
fabrics immediate danger Of any arrangement
| in our financial or commercial affairs.
very serious money crisis in Europe would Of course
produce great deal of private bankruptcy and in this
way severe losses might fall upon houses here but is
vet time guard against such contingencies by being
particularly cautious in regard to making consgnmens
of shipments from this side.
The annexed table exhibits the quotations for stocks
in this market for each day Of the past week. and tho
close of the week previous The falling of in some
the fances has reached two and three per cent State
stocks have been particularly firm.
Quotations FOR THE rnIscirAL STOCKS IN THE NEW