The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-09-04

COMMERCIAL AFFAIRS.
MONEY MARKET.

Sunday, Sept SO r m.
There has been considerable excitement in CONNER
ca circles during the past week. particularly since the
arrival Of the steamship Niagara The accounts she
brings relative to the harvest Of Great Britain
sidered favorable for an extensive demand for our
bread stufs, and important improvement in prices
but SPECTATORS, both holders of -four and grain,
and purchasers, appear disposed to wait further ad
vices before parting with their supplies purchasing
to any extent. There great many orders in this
market,whie many received by the Niagara have been
fulfilled In other cities by telegraph Our tclegrsphic
despatch from London by the Niagara the latest
moment stated that that time was raining hard
which induces to believe that by the steam
Of the 26th Of August relative to the crops will be
favorable for interests than the last In this
market there has appeared for the past days
disposition to purchase than to make Sales showing an
anxiety On the part of those holding orders to fl
them, If possible, before the arrival Of another
steamer. In the event Of later accounts being more
unfavorabe regards the harvests, there will be an
activity In markets greater than have ex
perienced for more than twelve months The receipt
OF produce from the interior will increase with tn
greatest rapidty and the deficiency In the tolls on
public works will soon be made good All this is
much to be desired but 1t is by no means desirable
that speculation In breadstufs should be pushed to
suoh an extreme that Of last year and the year pre-
ViOusj Aor eno roectiou Wnicn followed that immense
imitation In prices, attended with consequences
more disastrous 70 a srge portion of the CONNER
cial community, than favorable results to any
portion. moderate speculation, and moderate OK.
pansion ofprces WILL ass general thing do Us vast dea'
Of good will relieve the producers Of part of their
surplus productions, and preserve healthy state of
things while, the OF her hand excessive speou.
lative movement in breadstuas, and corresponding
innstion in prices, have tendency to depress prices
for all our other staples and materially restrict their
consumption. This has been clearly illustrated within
the past two years, in the enormous depreciation in
the market value of cotton, and its limited consump
ton. The prospect, at present, is in favor of
foreign demand for our breadstus, to an extent sum-
c1snt to advance prices to rcmuneratve point with
out unfavorably affecting prices for cotton When the
speculation In breadstus 1916 prices for
cotton ruled high and the consumption was much ex-
tended, and there wide margin for q contraction
The deficient harvess the first year had not much in
fuence upon movements of this staple but the second
Was sufficient to check all consumption, and re-
duce prices very rapidly. Breadstuffs continued to
advance, until they almost reached famine points; and
cotton as rapidly declined, until prices went below
producing points, when tho corn bubble burst, and
prices for brsadstus became much appreciated as
any other Of our staples. speculative movement to
medsvats extent, In brsadstuds this year, would not