The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-06-27

es.. s.s.!s.s saa w. ssss t's"s f''a o.t,t "a.
Payments sss~ ~-t rssSes
The Mexican war IL nov closed and W. shall be able,
in few months, to figure up the cost The expend-
lures whatever they have BEEN have all been raised
on Government stock and Treasury Notes, at pre-
MUM on par and, we have doubt from the amount
of bids made for each loan, that three four times
the sum required might have been raised at similar
rates We do not know of more than two or three
millions of this immense having been taken abroad
directly but it probable that large amounts have been
taken indirectly, by purchases made in this market
Our capitalists havebeen relieved, therefore, Of por
ton Of the loans, but not from any inability to carry
the whole The position of political and financial af
fairs in Europe may have tendency to depress prices
for securities both at home and abroad but ulti
mately the premium upon them will reach points cur
rent previous to the ofthe and they
will be much soughts after by capitalists in all
parts Of the world We compelled at pre-
sent to provide for part of foreign debts
due twice over and to pay for purchasesfor our
summer fall trade with cash. We are obliged
to go into the markets of France Germany, Italy
with the gold and silver in hand, If want to pur
chase the manufacturers of those countries In those
sections of the world all credits have exploded and in
numerous instances, large amoants due have been
cancelled by suspension; Our bills of exchange have
been returned under protest; and large shipments of
specie have been made to sustain American credit
the continent These things have restricted ope
rations enormously, have tended materially to tighten
the money markets of the States and reduced the pub
lie value Of all securities 1t is impression that the
worst has been experienced that have passed the
crisis in financial affairs and that, from this time
henceforth there will be steady but gradual improve
ment in commercial matters. The position Of the
United States-throughout all the revNlsions aud
volutions in Europe in the midst Of rapid and ire
mendous decline in the demand and prices of great
staple products in the midst Of the greatest explosion
the system fcredts experienced been cal
culatcd to win and the admiration of the world.
Our exporting products have deprecated within the
past year tens of millions Of dollars and have lost
failures in Europe millions The expenditures
account Of tho have been several scores of
millions and we have boon drained of many millions
of specie Notwithstanding these difficulties and draw
backs, we have not only fulfilled every fraction
of our foreign engagements, but have, in
many instances, paid them twice No failures
Of any Importance have occurred in this
country and are, commercially, in a soundcr
more healthy, more prosperous condition than has
been known for years. contraction has been going
on so long in credits and in mercantile transactions
generally and prices have been so long declining, that
the most restricted position has been reached all
shall start from the lowest points in all these ee-
ments of trade. All these things calculated to test
our strength; and there is doubt but that are
without exception, commercially politically, and in
every other view the most powerful nation the face
of the earth. This has been apparent to superficial
observer for long time, but every day confirms the
belief and must be universally acknowledged
The annexed table exhibits the imports and exports
of Buffalo, from the opening of navigation to the 22d
of june