The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-05-15
COMMERClAL AFFAIRS.
MONEY MARKET.
Sunday, May If

MONEY MARKET.
Sunday, May 14--6 p. M.
By the arrival of the steamship Cambria from Liver
pool we have seven days later intelligence from oil
parts of Europe. The is exceedingly important
and of a much favorable character than antci.
pated Politically the advices highly satisfactory
and commercially, they rather encouraging. Only
about half dozen new failures had been announced,
most of which were on the Continent The markets
were in an improving condition, and a moro healthy
state of things existed than at tho departure Of the
previous steamer The unsettled position of political
affairs the Continent produced from time to time
fluctuations in Quot&tions for consols and other
rites in London but amidst the whole had been
no material depreciation. Cotton in more active
deman but prices unsettled business in the
manufacturing districts had improved in consequence
of IN unusual demand from tho East Indies;
but the sales of manufactured goods much
below the cost of producing, and the manufacturing
classes individually depressed Cotton under the
circumstances was in much better demand than ge-
Morally anticipated large amount bee forced upon
the market from the United States, principally of the
lower grades which the Of the depreciation
reported while the higher grades had slightly improv
ed. The shipments of cotton to the Continent had
been extensive, and tho trade the whole was
slowly recovering Breadstufrs firm at previous
prices mere nau Deen large arrivals OF lnuian corn
from this country most of which had been taken for
Ireland There had been variation of consequence
in the enquiry for breadstufs but the market in
healthy condition, with indications Of an Improvement
Money exceedingly abundant in London, the rate
of interest ruling ct 80 per cent The bullion in tho
Bank of England had decreased the drain being prin
cipally for reland shipments to limited extent also
having been made to the Continent Whatever demand
there might have been from France for specie previous to
the election it doubt ceased Immediately after that
event, confidence in Paris at restored and
the current of coin into the Bank of France had
menced. We look for rapid improvement in fnan-
cia and commercial affairs throughout France and the
of the elections upon the other powers of Europe
must be highly favorable. We have more conf
dencc in tho stability and of other republican
governments, and believe that whatever popular cleo
lions take place after this WILL without doubt result
as satisfactorily as that in France
The French republic Is established the Convention
will consummate it, There may be for time consider
able political excitement; and in the formation Of
constitution tho political parties will be distinctly
defined The crisis is past, and mob, radical
ganzation determination of clubs and socialism,
can arrest the progress Of the popular government
The whole world has been astonished at the quiet,
peaceable manner in which the elections have been
conductsd and well may the monarchies of Europe
guse the bitter preudices it entertains against every
successful movement Of republicxnmfn France. and
great allowance must be made for these feelings which
pervade all the English accounts. We must expect,
for time yet considerable agitation in tho political
affairs of France. The tremendous revolution in the
form Of government cannot BIO at once brought
about. The most important point is past, and all
danger Hereafter the rcprese Of the
people will have much they do, for
time to perfect and strengthen the system of
ment they may adopt. Enough has already been
done to give the people confidence, rs all intimi-
dation from the lower orders has disappeared, and
industry will again prosper and employment be given
those who have for time past been idle and in
their idleness have fostercd all the dsorganzing prn
cples which the radical portion Of tho provisional GO
vcrnment have made such efforts to promulgatc.
When the people have employment they have no dis
position to obtruct the operations of or oppose the
vermont and political affairs left to politicians.
The result Of the elections in France is therefore Of
the most vital Importance to overy interest Of that
country gives the substantial classes confidence
which the basis Of every thing This is all that the
people Of France want to give them the most per-
feet form of Cover nment in the worldto give i'm
pulse trade to restore their interest
to it's previous prosperity to give them the enjoyment
of blessings than they before dreamed of.
WunOut commence mourning can Stanu anu IL ~ Iuu
as important in political in commercial afairs-per-
haps important, as the social condition of man
depends upon the first than the last.
Further accounts from France will be looked for with
the ost.nense xiey The details Of the election
will be exceedingly interesting and the probable posi-
ton of parties a matter Of much moment. The more
equal tho division Of the moderate party the better for
the country at large; and the existence of
servative party provided it was not too powerful:
would be unfavorable feature in the political
affairs of tho republic conservative party is in all
governments check to the other two and excrts fa
vorable influence upon both. The effect of the cleo
tions upon mercantile matters will be of great impor
lance here, commercial intercourse with France
since the revolution has been very much reduced
expectations having nearly ceased, and importa
tions amounting to almost nothing The restrictions
upon commerce which have SO long existed, will with
out doubt, be removed, at all events much modified
and tho expectation Of principal staple products
much increased We loarn tn at there is large guam
tity Of tobacco in this market ready for shipment to
Havre and other French ports, Immediately upon the
removal Of tho restrictions which is expected of the
new government The monopoly which has so long
existed in France relative to this staple has had
injurious effect upon the trade; and in the event Of the
trade being thrown open the influence upon other GO
vernmcnts Of Europe may DO OF the most favorable
character The OF France, which have been
checked by the restrictive policy Of former govern
ments will under more liberal commercial system bc
most rapidly developed, and have doubt
commerce with that country will increase and become
Mt once more productive.
The annexed statement exhibits the quotations in
this market for each day of the past week. and at the
close of the week previous Prices have been exceed
ingly uniform and of the fancios have not moved
at all within the week -
Quotations YoR THE PRINcpAL SrocKs New
YoRK MARKEr.
Sat. Non. Tues. Wed. Tbs. Fri Sat
Treasury Notes 6s l02 I02a l02a l02x l02S 1921 02is
New York State 6s... 96
Ohio 6's ~ gl2 1891 100 lWh - lO0la
Kentucky Gs. ~ 98
Pennsylvania 5s.... 7i4 7IK 70 % HJs HA