The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-03-12
CONE kRC' AFFAIRS.
MONEY MARKET.
Sunday, March nth


Notwithstanding the favorable complexion Of the
news from Eurepe and the partial depletion of the
SubTreasury the stock market closed heavy
and quotations for the fances with difficulty sus.
tanned The principal Of this il the position Of
the money market, which 10 by means 10 easy as
circumstances would warrant us In expecting Loans
on call easily be made per cent and the
best business paper in the street is dscou nted At the
rate Of nine and twelve per per annum So long
this state Of things exists long will quotations for
fancy stocks nnctuse from day to day without advan
cling much, and the market continue feverish con-
zion. The season Of the year, the probability Of large
amounts OF gold coming from California, the demand
Europe for stock securities and eur staple bro.
duets the reaction visible in every branch ofindutry
AID department. Of trade, the changes made In the
government, and the administration Of public
affairs by individuals OF liberal principles than
heir predecessors all calcium ed to give impetus
to speculation in this country; spscustioa mpered
we believe, with more judgment than those of previous
years. and less liable to results similar those which
have heretofore attended similar movements so long
as We have a proper Independent Treasury system,
there cannot by any possibility 10 very great inds.
zion in prices or In credits We need be under no ap-
prehension that an expansion of bank credit similar
TO that Of 1886 and 1887 will occur long the gov
eminent holds in its hands the delegated by tho
epecie provisions Of the Indeps ndent Treasury act
moderate modification Of the act, rs is now stands,
would not remove this check upon the movements of
our banking institutions; and have doubt the
new Secretary Of the Treasury will point out Con-
gresS such alterations his experience up to the
commencement of the next session may dictate in
the meantime, the present system WILL undoubtedly be
administered with view relieve It of its most odous
and restrictive eaure and it's drfcts done away with
81 much as possible. This the commercial immunity
expect but We want more consistency in the operation
cf this measure than characterised the pursued
by Mr.. Walker strict enforcement Of the most rigid
provisions of the act ut time, and Q complete
abandonment Of them at another, muy be we'll calou-
dated 20 promote the ioterests Of certain parties but
they are Injurious to the community generally, and
have created prejudice against the system and an
opposition to its sxtsnce, which cannot be easily
moved.
The tariff is SECRETARY affair, compared with the
financial policy Of the government, Certain classes
xre directly and deeply Interested in the commercial
policy Of the country but every ons mstter what
may be his profession occopstor, directly into
sisted In the system by which the public finances
fegulsted; ss prices Tor every thing eat drink
and wear depend 30 much upon the state of the
rercy, and the currency depends much upon the
position Of the governm-n and the banks that unless
proper checks exercised shall be subjected as
heretofore to the ruinous expansions and con.
fractions and the most enormous specuatons and
vulsions, which will bankrupt thousands, who might
other sise have stesdiy pursued their legitimate
equations, and slowly accumulated fortunes.
We are Informed that the Peoples Bank, OF Pstsr-
Con- N j. does not its bills In depreciatsd coin
want Of other specie but because Spanish quar-
tsrs and English soveregns have always been received
and paid out ct par and they much In circua-
zion In that vicinity there has not been except In one
or two instances, any objection to take them.
The annexed comparative statement exhibits the
quotations for the principal securities In this market
for each day of the past week and the Of the
week previous There has been material variation
but prices have been steadily settling dowa.
,CuorArroRs roA rsA rH,s.,r.- srocxs ~ rns Nav
koKR MARkEr.
Sat. Hon- Tsss. Msd Ins. IN sas