The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-02-14
Com MERCIAL AFFAIRS.

Sunday, Feb. l3-6 r. M.
During the past week there has been considerable
element in the stock market and quotations most
Of the fancie have advanced from five I'VE and TWEEN
ty per cent but fell back again to about the starting
point There has been speculative in stocks
for the three weeks but the reactions have been
and great that prices at the close of the
market yesterday, only show improvement Of from
ave to ten per cent upon the lowest rates which have
ruled during the panic. There may not be any farther
Improvement in prices for time, but there very lit
tie probability Of decline Of any quence below
prices now current 1t hardly time yet for any specu
ative movement of much importance In the stock
ket as there several things weighing upon the uan-
cia and commercial classes calculated to depress copf-
dence and induce cantiousness. The banks have but
slightly rslaxed the restrictions they placed upon them
Selves and until tho Of this timdty removed
cannot expect any permanent Improvement In prices
for stock securities The advance already realized in
the fsnoies Is than what is warranted by the
improvement which has taken place in the money
kst The suspension Of shipments Of specie to Great
Britain was tho direct cause Of the rise in stocks,
although the reports Of peace doubt had favorable
influence, and the relief the money market realised by
the cessation Of that drain Of bullion sufficient to
create the advance which has taken place.
The only thing Of any Importance which now weighs
upon the market and keeps speculation in check is the
fact that government must issue proposals for
another loan. As soon this dificuty is removed,
there will be obstruction to tho expansion Of tho
banks and imitation Of credits but the independent
treasury and that will be sufficient II the provisions Of
that strictly enforced It has not yet been
tsrmined upon in what manner the loan will be
gotated in what shape treasury notes will be issued
even in the event of issue beng authorised Should
stock loan be determined upon effect Of
iatfu st ho
than issue Of Treasury notes. and the rate at which
such loan wsuld be taken, would be more unfavora-
BILE for the government.
The course pursued by the Chairman of the Commit
tee of Ways and Means relative to this loan is cscua
ted to embarrass the very much In its hnan
cal operations The estimates Of Mr. Secretary
Walker have, heretofore been exceedingly accurate;
his calculations relative to the Of the gov
eminent from customs from the sale Of public lands and
other sources have been very ooreot and his estimates
relative to the expenditures account of tho war,
when hoetilties first commenced, and there was very
little data to base estimates upon have been 80 near the
actual amount expended, that capitalists have placed
considerable confidence in his statements regarding
the future wants of the The Secretary Of
tho Treasury has Is many sources of information at
his command - the Chairman Of Ways and Means,
aud the public generally will place as much reliance
eusrly when the fact Is taken into consideration that
the latter gentleman represents q party that wishes
to manufacture much political capital out of
the financial difficulties Of the government as pes
sible, between this and the next Presidential cam
psign The Secretary Of the Treasury says that
he wants but about thirtyfour millions of dollars
In addition to the ordinary revenues Of the
to meet the demands upon the Treasury to the LIST of
July e4o in the event of the war with Mexico continu
Ing for that time This 10 independent of any military
contributions which may be levied upon the people or
the government Of Mexico Since the report was made
by the Secretary Of the Treasury, giving these sst
mates advicss received from Mexico state that .
tax Of enc and half millions Of dollars had been levied
part of which had bsen collected Ia the estimates Of
revenue from customs estimates have been made re-
ativs to duties upon merchandise imported into and ex
ported from Mexican ports and the Secretary avoided
oil reference to any revenue, In any shape from that
country depending upon what amount might be ool-
sced, to reduce his wants from other Sources The in
come from tho tariff imposed upon the commerce Of
Mexico has been large The receipts from customs at
Ia mpico since the LIST Of May last have been
$2sl 900, and for the tins ct Vera Cruz about
900, which, considering the unsettled condition
Of the country with all communications with the nte-
rior cut Of shows what could be derived from
that II the whole country completely
pied by troops and proper military government
s,tsblshed. We have not the slightest doubt but
that by proper system Of direct taxation and judi
olous tariff Of duties upon the imports and exports not
only the whole current expenses of the army Of occura
ton could be raised, but also indemnity the past
drawn from that country in the shape Of annual
nue. We have confidence In the sources from
which Mr.. Walker derives his information relative to
the Of Mexico than in oil the statements
mating from croaking politicians ancient fnanoers
The officers Of our army who have been fighting the bat
Ties In Mexico and at their leisure examining tho
sources Of the country know more sbou! s condition.
and are better judss Of It, ability 10 bear taSstion than