The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-03-13
MONEY MARKET.
Sunday, March l2-6 r.

The stock market closed firm at handsome advance
on prices current at the close of the previous week
The ratification of the treaty had q very favorable
effect upon the market and the bears purchased their
shorts and placed themselves at in position to
benefit by the advance which must soon be realised.
Money at present. is moderately tight and the banks
evidently object in view In refusing facilities
almost every asking upon the best security
In the market. We cannot why the banks, at this
juncture should endeavor to kesp the market in such
stringent state There be fear of losing any con-
siderable portion of their specie the demand for
Europe has about ceased and for Mexico everything
is at rest there. That bugbear which frightened the
banks much has disappeared and there Is nothing
left calculated to create the slightest apprehension for
thefu'ure.
Our next accounts from the other side will doubtless
In commercial point Of view, be more favorable than
the last It is very probable that the Bank Of England
has made further reduction In the rate OF interest
that further advance has been resz in the price of
cotton that the failures have entirely ceased and COM
mercial confidence become firmly established again;
that activity in the districts and in trade
generally has taken the place Of inactivity; and that
prosperous times must soon appear again in the markets
OF the old world All these things deeply
most important interests involved-the basis
of our prosperity resting upon the value of great
agricultural exporting staple 1t Ii . matter of much
astonishment in England, how we have been able to
hold with such tenacty the new crop Of cotton, and
how limited the demand the other side for advances
Our exports Of this staple have been unusually large
this season. but they have been principally ON domestic
account and differently distributed to what they have
heretofore been. An advance in prices will bring sup
plies into the market, and shall derive immediate
benefit from it, In the reduction Of exchanges, and
probably in the importation Of specie The stocks Of
in hand NJ Of
tain must have become 50 much reduced that great
activity take place in the manufacturing districts
without large purchases Of the material, and
consequently Q considerable improvement in prices
Movements Of this kind looking for Our expeo-
tations may not be fully realized by the packet
due by the next but many weeks cannot elspse
before they will be realized The abundance of money
IN Great Britain the low rate interest ruling the
pd accumulation Of bullion In the Bank Of England
and tho difficulty Of finding employment for money in
the regular channels Of trade must compel capitalists to
commence . speculative movement in some important
staple and We know Of nothing in which there guch
margin fer advance cotton. Prices have been 30
much depressed, and the supply 10 small, compared
with previous years. that moderate purchases specu
laton would have q wonderful influence upon the mar
ket Our planters will be particularly benefited by
rise in prices for this staple large part Of the pre-
sent crop yet In first hands Whatever benefits the
planters derive from any Improvement IN prices, I'M
other interests and in this way extends or
less to all GLASSES. The recent advance In prices in
Liverpool produced nearly corresponding advance in
this and other markets of this country and further
rise is confidently anticipated that much dsappoint
ment will be experienced should there be reported
by the steamer now due.
Holders Of breadstu this side do not appear be
anxious relative to prices tho other side it evident
y being perfectly ministerial to them whether the next
steamer brings advance decline. An advance in
England would doubt have good effect upon prices
here; but decline in prices would not, the contrary
meso demand being sufficient to sustain prices. with
and probably will be until after the resumption of
navigation. When our supplies increase, there will,
without doubt be enough to meet any demands for ship
nent and enough left for homo consumption to dspress
prices II the supplies in the interior large
have been estimated and forward rapidly
as they last spring, prices before the middle of
July, will be lower than known within the past three
years In the event of prices for breadstu in England
remaining without any important reduction, may be
able to make profitable sbpm ents by the month of
juno July, but not before, unless in the meantime
prices should advance much beyond present prices.
The annexed table exhibits the quot tions in this
market for the principal speculative stocks for each
during the past week and at the close Of the week
vous. Some Of the fancies have improved very mate
rally
Quotations FOR THE PRIscrAL srock' IN THE NEW