The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-10-11

There has been no alteration of any Importance in
United States or State securities; but in those of
more nuctuating character, prices have fallen an
raj per cent Operations In any of these sto cks for
time past, have been to limited extent It is
pretty clearly illustrated by the comparable
Of this table that tits not much the state the
market which Is depressing prices for many stocks
other causes. These cate the scarcity Of
ney and .nrough that influence affect prices for
cCrites and depress prices for every species Of pro-
perty is the absence of all confidence in everything
connected with financial and commercial affairs, that
produces such arrangement and so much embarrass-
ment is the apprehension felt relative to the future,
which causes much distress amsng those who
deeply involved in operations of all kinds 1t Is not
the accumulation of three four millions of dolrs in
the hands Of the government the contraction of
banks that account, so much the contpaction
produced by the distrust in matters generally. With.
out confidence it is impossible sustain credit prices,
or even to maintain any activity in trade. Tmmsnse
sacrifices submitted to, and bankruptcy ia
alarming extent finally ovcrtskes many who otherwise
could have sustained themselves.
It is extraordinary that amidst all this state of
things all the difficulties with which are surround
cd, there is nothing within ourselves calculated to
cause them give them any permanence. 1t ia our
intimate connection, in all financial and mercsn.
tile matters, with the old That Is
our pre- sperity and inhictng upon evils which
shall not recover from very soon. Our domestic
affairs have for long time, been in a healthy cond
ton our product ms have been unusually abundant
and all the elements Of wealth have been properly
husbapded but the state OF affairs in Europe has
tended more to depress prices for products than
anything that has transpred within our own limits
Whatever affects the consumption of our products
abroad depreciaes prices for oil that have hand
Our products and mani factures valued at about
SO 600 of which only about 500 600
twentieth part Is exported and whatever affects the
value of the portion exported affects che value of the
nineteen for domestic ptop.
We thus at the mercy OF foreign countries. Ifany
thing of political nature transpires abroad calculated
to unsetle the public mi nd and destroy confidence we
feel 1t through its influence upon prices for our pro-
duets. II financial Revision spreads the whole
or any part Of Europe the markets our products
are Injured destroyed, and i'm losses fall upon
our merchants and producers We have to bear
the brunt of every political, financial,
mercia disaster which occurs in any and every
part of the world. The raw material, for the
most important branch Of manufacturing, is pro-
duced In this country and are therefore, depend
ent upon those countries which this staple
largely. II markets for manufactured goods are
injured by any Revision revolution the manufac-
turer can stop ms machinery discharge his operatives
and for time remain inactive With the logs merely Of
the interest his oapital and when he resumes, the
material will be found much deprecated that
moderate profits realised, without any materia
improvement IN prices for manufactured goods. The
manufacture is thus avoraby situated than tho
producer The first raise prices for his fabrics
stopping the supply, while the latter has such al
ternative-he must keep on producing matter what
The price, he cannot discharge his hands and let his
land lay falow, neither he turn his attention
rlusirfly to the cultivation Of other crope.ot.n