The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-09

COMMERCIAL AFFAIRS.
MONEY MARKET.

wednesday, Nov. Sc PM.
Quotations for most of the fancy stocks xpere
further Improvement to. day. and the sales we're un
usually large. The result Of the election gave an i'm.
petus to operations, and the advance In prices wa
taken advantage of to put lots upon the market AT
the first board, Delaware and Hudson went up u per
cent: Harlem, u; Erie Railroad, new u; Long Island
4: Canton Company, Y; Norwich and Worcester Rail-
road fell OIL III all others closed at prices current yes
terday.
At the second board the sales large, but prices
were not sustained. Canton Company fell Off y per
cent? Erie Railroad, new, u, and Long Islond, a.
The steamer for Liverpool sailed to-day She takes
out large amount Of sterling exchange, drawn prin-
c,pally at So sX per ce mt premium, and $679 In
specie. This advance in exchange is not favorable
feature in the money market and looks ominous.
The Hudson and Berkshire Bsiroad Company have
reaid their road with heavy rail- and re opened it
to the junction with the Albany and Boston road.
Is pretty well settled that General Taylor has bee
elected Preident of the United States for four years
from the 4th of March, s49 The returns SO far as
ceyed are sufficient to show large whig gain In the
thirty FIRST Congress- large majority in the House,
and a Senate pretty equally divided, there Is
every prospect of an important change being
made in the financial and commercial sys-
TENS Of the country IL is admitted, by all par
ties and by all classes that q modification of both
e ouired but by the adoption Of measures
directly opposite to those in operation The in
dependent treasury act is too stringent in its provi
sops even with the liberal construction put upon BY
Secretary Walker, and the issue Of treasury notes
under the various acts for raising loans to meet the
expen.es of the As yet have not realized the
ee ct of the ndsnt treasury act, as originally
psssed as circumstances trsnspred few weeks after
Its adoption which completely changed Its most in
tuitive features, and permitted the government to
administer its finances in q more liberal form. The
zine is now at hand when those notifications termi-
nate and the act, as originally adopted will be
forced the LIST of December the issue of treasury
notes ceases, and the disbursements Of the go.
ysrnmept will be confined exclusively to gold
and silver. Then shall feel the full effect of the
system and practically illustrate its benshs and de-
| jects II the commercial classes have experisn GEO
any disadva ntnges from the act rs 1t has been en-
forced since last January, what may they expec
from It when all its modiA have expired by IL
imitation.
The result of the election limits the exstence OF tn
presen mt party In power to period Of three month
from the LIST December. the time when the Independ
ent Treasury act Of 1916 comes into operation and Il
Is probable that the act will not for that short
period be strictly enforced In the event Of the new
sdmi nistration being strongly whg, 1t is possible
some change will be made In the treasury act, even
before acted upon by Congress. 1t can hardly bf
expected that the present government will permit
any alteration to be made in the act. pure
Gold and silver currency SO far as the public ex.
pendiure and receipts concerned, has long been
one of the leading principles OF the democratic party
and in the course Of about twelve years the system
has been in operation but little more than one year
and, even for that time so mixed up with paper
currency that ts specie Irovsions we're nearly lost
sight Of The democratic party has, for tho past six
teen years been oppoeed to the paper currency sya
tam and have tot the Whole cf Chat tmg alrcc siod