The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-12-03
MONEY MARKET.

and probabilities Of peace but the reports Of the
secretaries will give the details.
In the present position Of public finances considerable
anxiety exists to the report the Secretary of tho
Treasury. We have doubt Mr. Walker will present
q very able and very comprehensive document, not
only in reference to the past aud present. but regard
to the future policy Of the government relative to its
financial and commercial systems The estimates made
BY Mr. Walker of the probable amount of revenue to be
derived from customs under the tariff and Of the
probable amount Of expenditures attending the war
have proved correct that his estimates for the future
will carry great deal Of weight with them He has ex-
hotted 90 much foresight and shrewdness all his CAL
culatons that our fnancers have great deal CONT
dence In his administration Of the finances the 60
vernment Last ct this time everything was doubt
and confusion. The new tariff was about commencing
operations and no one really knew what would be the
result We were striking out into new path an ex-
pertinent was about being made in the most important
department Of the government, it's revenue, at time
when the expenditures Of very extraordinary
and the amount to extent
The most gloomy forebodnss existed In the minds of
nnanciers and those engaged in commercial pursuits re-
atve to the resources of the to carry on the
war; and the estimates of the Secretary the Treasury
were looked upon as being chimerca while the expend
lures were magufed to immense amount The speeches
In Congress, and the statements Of Mr. Webster and
other leading opposition Senator'S that the
amounted to half million of dollars per day tended
very mnch to ntmidate capitalists and If possible to
smbarrsss the government in Its loans Notwithstand-
ing these things the Secretary able to make all the
loans required upon the most favorable terms and time
has established the soundness of his positions and shown
the accuracy of his estimates lie has not failed in
single position assumed and the report about emsnst
ing from his department. will be issued under more IA
vorabe auspices than the last There are no theories TO
advance now-no efforts necessary convince incredu
ous cspitalsts-no new system to put into operation
and the Secretary has the satisfaction Of showing the
success Of his policy and the favorable condition Of the
government finances amidst the drain upon the Tressu
~, consequent upon q of invasion.
We no doubt but that the revenue system adopt
ed relative to the customs of Mexico will occupy yerv
important part Of the Treasury report and the develop
msnts regarding the revenue already received, and
sources OF revenue for additional ncome will sstonsh
those who have considered the Mexican war an immense
burden upon the Treasury Department The condition
Of tho treasury resve to future ways and means to
~ the war; WILL feel confident be such az to place
government stocks In q favorable position than
they now enjoy in the market The most errc
neous and ridiculous statements have been put forth bv
party organs showing the Indebtedness of the
ment to be many millions beyond what II really is
what ohoial returns show to be the most gross
calculations have been made by the parties show
ing the of the at stated
times hsncc made for the purpose of increasing the
liticsl capital Of the party they represent These
statements have had injurious influence upon the
market value Of government stocks, by frightening
holders and inducing many to sell In anticipation of pur
onseng again at lower prices The state of the money
mAe' hss' no doubt, had an influence to a certain ex
tent but FOR security like United States the market
per INT beIo H..
Secretary Of the Treasurys report will illustrate hi,
fact and increase the confidence of holders In tb ,
OF their Investments Prices have fallen In
ofsovernment coming into the market Aft,
the meeting OF Congress, for largo loan IL Z, VERY
doubtful ABOUT the government wanting large sum Of
money immediately the old loan has not vet bean mad
up; there still surplus in the hands Of
which, with the revenue continually coming in will NEE,
the expenditures for some time 1t Is not yet general
y known what plan the Secretary the Treasury ha.
perfected for providing ways and means to meet the
expenditures OF the government, after his present re-
sources are exhausted there Ia no doubt but that he
will adopt some method that will enable him to obtain
any amount wanted, upon the most favorable terms
without any deranssment Of the money market, and
without any depreciation In tho real or market value
the government stocks in existence 1t appears by
ocia returns that the extraordinary expenditures OF
the government during the past twenty months have
been nearly thirty millions OF dollars That amour
has been the cost Of the thus far not paid out
oftheregular and ordinary Of the Treasury
This amount has been raised BY loans issue Of trea
sury notes. and by revenues from customs upon imports
iato Mexico The derived from Mexico has as
yet, been limited IL is rapidly increasing and under
proper system, such a. We think Mr.. Walker ca
pable OF creating will very be sufficient to meet
the bulk Of the expenditures account Of the oocupa
ton Of that country The complete and entire occupa-
sion of Mexico has been favorite of the
present Secretary Of the Treasury and his financial sys
tenn will cover every of that country
capable Of producing As the two countries are fact
under one general government It becomes the duty Of
shs Secretary ofthe rsasuy to extend bis jurisdiction
over the whole territory from The river W. Johns to th.
stsHas " Tsssstspse, fsea We Aasstls 10 W. rss