The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-13

LIST Of December to the 18th Of January total Of three
and q half million Of dollars (S3 50OO00). The drain
commenced previous to December In November the
export from this port one and half millions and
from Boston about million, making two and half
millions In that month Since the LIST of October whom
the expectation to any extent commenced the total
amount of shipments has been to at least seven mill
lions Of dollars (t70o0O00), equal to more than one.
quarter Of the aggregate importation in ls large
amount Of specie has been shipped to England on so-
count of expenditures growing out of the war with
Mexico but the bulk of the shipments have been on
account of advances made commission houses in this
and other cities to the manufacturers OF England on
merchandise shipped to this country We learn that
many foreign commission houses in this city have made
advances goods than they dispose of during
the spring. and have in many instances refused make
any further advances These advances have been made
principally in specie the manufacturers obtaining
them, having two, might say, three objects In
vewthe disposal of their fabrics the increase of their
domestic supply Of specie and the depreciation prices
for the material in this country. They have &C.
complished all the objects In View but what will be the
result Of these movements time only will determine
We have no doubt but that further expectations Of
specie will be made account Of advances foreign
manufactures account OF expenditures growing out
Of the war; and account Of speoulators In cotton
complished, the tide of precious metals will set in
another direconit will set in upon instead Of from
That result will not probably, be realised In less
than three four months and, in the meantime, We
shall feel all the effects Of drain of bullion, in rapid
depreciation In prices for every species Of property
tight money market and suspension Of specie pay.
ments by the banks unless steady contraction ad
hered to In every department Of their operations The
foreign demand for bullion has not been seriously felt
within the past week or two, in consequence Of the
limited demand from the commercial GLASSES for pay
ment into the custom house. and the purchase of tre
sury to into the sub treasury for duties This
been relief the money market while tends embar
the financial Of the government as will
bring into the market for newloan than anti
cpsted II has not yet been determined upon in what
way the loan will be raised what kind of propo.
sails will be issued for another loan The Secretary of
the Treasury is in favor of making loan by
United States stocks and II is the most legitimate
thod of raising money but circumstances have hereto
fore compelled him to make loans by issue of Trea
sury notes of large denominations Its our impress
sion thst circumstances will compel the Secretary of
the Treasury to resort to other way than either
the above two named. There but two other ways,
both Of which have many strong objections There Is
no doubt that an issue of Treasury notes ofsma denom
nations bearing nominal rate Of interest that they
would enter generally into circulation would not only
government all the money would want save
large amount the way interest aud in the shape
diccouuts butt is question whether such an increase
paper currency of the country would ultimately
produce more difficulty and arrangement in commercial
affairs, and entail more evils upon the community at
large than could be Offset the advantages the govern
ment might derive from raising money upon such favor
able terms. 1t is impression that they would be-
1t would therefore, be bad policy to adopt that method
unless all others failed The other, and no doubt the
last the government would resort TO- is such modaca-
ton or alteration Of tho lndepen lent Treasury act
would relieve the money market of tbs demand for spe
ce and the banks from the apprehension under which
they have existed since the passage Of that act This
would be the dernier resort and 1t would be
y unfortunate for the country at large II such alter
large denominations by issue of stock loan could
probably be made from to 10 per discounts but we do
not believe favorable terms could be obtained I'm.
less great change realised in the money market
In the meantime for which we see no prospect or poss
>biity.
relative to the operations of the warehousing sys
TEN. appears by this statement which was made up
in the Treasury Department. that the aggregate am
Of merchandise IN the different warehouses 90 the 8Oth
Of September last SO 1888 the duties on which
amounted to 81 264 GA The aggregate amount was dis.
tributed as follows:--
VALUE PRoPERTY IN THE WAREHorsEs OF THE Co
SF