The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-04-12
MONEY MARKET.
Sunday. April ll-6 p. Nj.

The stock market has beon in very unsettled state
throughout the past week. and prices have In some In
stances fuctuated several per cent The exciting and
favorable advces from the seat of war; and the numo
arrivals with two and three days later inteli
gence from Europe, have created feversh excitement
in the stock market The approach Of the period for
tho opening Of bids for tho now Government loan of
eight millions of dollars has had Its influence upon the
stock market and tended to depreciate prices. The
large amount Of the bids is good evidence of abun
dance Of money, when good investments offer, and exhi
bits in very strong light the credit Of the Government
The steady influx Of specie into this and other ports Of
the country from abroad must exert very avora
ablc influence upon our money markets Every packet
from Liverpool brings from to FIVE hundred thou
sand dollars the steamer Sarah Sands out eleven
days has about million on board, and the Cambria,
now seven days has board about two and half
millions The receipt Of these sums, with that which
has already been received, will make aggregate i'm
portaon specie into country snoe the lat Of jan
last about twelve millions of dollars In little over
three months At this rate the importation for the
will be double that of 1913. This immense amount
must have very favorable influence upon the
currency and upon the general prosperity of the
tryand aid the operation of the Independent Treasury
that Its rigid restrictions will not interfere with
any Of the movements Of trade The addition o. such
large of specie to the currency Of the country
increase
provincial banks which, for the want of specie crcu
lating medium, have been forced upon tho people In
every shape from shin plaster to twelve months post
notes Specie coming into the country in pay ment for
our breadstus goes into the hands Of the producing
classes and does not reach the channels Of trade
rally, until the Of consumption compes them to
set 1t In motion among the commercial classes 1t will
therefore he tle time before shall derive much
benefit from the importation Of this large amount Of
coin
The government Is making great efforts to improve the
specie currency Of the country In reconng the foreign
gold which Is daily arriving very largo amount OF
coin turned out in March from the mint at Phiade
pha, and 1t Is estimated that fully three millions Of
dollars will be coined this month The bulk Of the
gold and silver in circulation is Of foreign coinage and
on account Of its arbitrary and fractional value is tho
cause Of much trouble and Inconvenience in making
payments where any amount of this coin is required
The specie the vaults of banks Is composed almost
entirely Of foreign gold and In the event Of demand
upon these institutions for amount Of specie they
could avoid paying out this coin The efforts Of the
increase the quantity Of American coin
are very crcdtabe and few years VIII suffice to give vi
II specie currency purely Of American character
This will be of the lasting benefits derived from the
importation Of specie ut this juncture. We could not
| have had a more favorable period for the adoption
Of the new financial system Of tho government and
of prosecution Of the Mexican than the present
combination Of unforeseen circumstances has aided
the government in its financial operations more than
any superior foresight and If Its good luck continues
until tho CLOSE of the there will be great FOL
congratulation.
Tho annexed table exhibits the quotations for stocks
in this for each day Of the past week and at the
close the week previous Norwich and Worcester has
fuctuated more than any other stock In the list