The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-02-12
COAMERCIAL AFFAIRS.
MONEY MARKET.

Sunday, Feb. 1I-6 r. n.
We give In the columns Of this days paper, the most
important and interesting financial and commercial
intelligence we have published for long time From
the East and from the West, the most favorable 40
counts have literally rained upon u.s. From Europe
the advces by the steamship Niagara Of the most
encouraging and satisfactory character The advance
In government and State stocks Is almost unprecs-
dented; and If our telssraphio dispatches con.
Armsa BY papers and private letters the effect upon
prices here must be very great The demand for our
most important exporting staple product -coston-was
active, and there had been . moderate advance in
prices The speculative movem~ uts reported In this
staple sufficient to sustain the ruug quotations
and any increase the demand would create further
improvement. The rise in Consols en- 1 in American
securities Is indicative Of very easy money market
and return Of confidence beyond our most sanguine
antioipations. A reaction has commenced In the
SHANGHAI and commercial affairs Of Europe which will
give impetus to every branch Of industry In this
country. 1t could not have com osd at
pioious moment, and about opening upon .
period Of prosperity unprecedented in the history Of
our existence.
From California the intelligence Ii highly favorable
We have advices from San Francisco to the 10th Of
December four weeks later than those previously
eived and they rot only confirm sill which have before
come to hand, but give, II possible, glowing
counts Of the mines, and the extraction of gold
The u 8. ship Lexington left San Francisco for New
York early In November with from three five hundred
thousand dollars worth Of gold and 1t is stated that
there Is at least million more waiting safe mode
of transportation to the States The fact that these
accounts, much later, confirm those previously re-
oevsd 10 sufncient to give them great Importance and
make them highly interesting
The demand for specie created by the large
into the Custom House keeps the banks very cautious
and loans net freely made upon stock securities
The regular customers of the banks cut down very
much, and but small per cent Of the offerings
cepted. The value OF merchandise Imported into this
district, for tie week ending the 9th inst, was
50 1856 Of which SO 378 1874 in dutisble goods
The amount Of duties paid these goods $sa9532
These imports were independent Of those sent to the
warehouse The value goods entered for warehous
ing during the week $l2S 6SS Thevalue withdrawn
$l9376 OF the aggregate importation, 9s6 was
In dry goods The drafts the assistant treasurer Of
this port, paid during the week amounted to $24725
which, deducted from the from customs leaves
balance being the increase deposits for the week. Of
$564s07 This amount in sic drawn prin from
the vaults ofour banks with the prospect steady drain
for weeks to come, has hardened the markets. and
taken large amount Of capital from Investment in
stocks As temporary relief the Secretary ofthe Trea-
sury postponed the payment Of outstanding install
ments due the last loan to the 1st OF April but we
have very little faith in the good effect of such Iii
probable that most Of the amount due that loan
been ready for payment for sometime, and doubt
many would rather pay their portion In at once than
have 1t delayed day, as the posponement oempss
them to seek other investments for the PERIOD subject
to the of short loans aud the danger Of de-
preciationin the market value OF securities in hand
Il would be much better for all classes connected
with the finances and Of the country If the
financial affairs Under the present administration
1t II impossible to tell what movement will be made
next The money market is regulated and controlled
completely by the Secretary OF the Treasury and any
clique Of Wall street pecuators that can get him in
their interest, merely by infringing some act Of Con-
sress by not enforcing the provisions Of par
tcular law. II the law is strictly adhered to every
knows what to expect, and they govern them
eelves accordingly; but If it is not and movements
made to suit the interest Of certain parties everything
sunsettlsd and the calculations OF many destroyed.
This has been frequently pstissd by the present
Secretary Of the Treasury that look for any thing
him. and must expect for the next three or four
weeks any movement calculated to aid the bull stock
epeculators of Wall street.
II b after Of much Importance to capitalists and
n fact to all classes whether the Secretary Of the
Treasury will carry out the Independent Treasury
act Is intended by the act CT Congress-whether he
VIII endesvor to make 1t easy in Its operation as
possible for the purpose of beueftag certain interests
and initiating credits and prices, whether he will
carry cut in its strictest endeavor to make
1t possible that ats repeal modification
will be demanded by the party at the next session of
'Congres great deal depends upon the course pur-
sued by the administration relative to this mea.
sure but It Is impression that the Inde pc dent
Treasury law will be for time relieved Of its most
-igid specie provisions by the successor to Secretary
Walker, for the purpose Of giving opportunity for
expansion in public and private credits and
ment in speculation that may when enforced strict
ly turn public opinion against and demand its
peal This policy has often been pursued by the party
about coming into power and the leaders know how to
make 1t work efectualy 1t will be their aim and OBJ
iect to make 1t obsctionab possible andit by
means impossible that they may not succeed The
movements Of the new administration, in relation to
Vs,ith much anxiety.
The statement put forth by the Board of Directors Of
the Hudson River Railroad Company, previous to ssu
jng proposals. for loan Of four millions Of dollars will
be found in this days paper IL Is stated that this
amount will be required to complete the road to
Albany and provide all the machinery and other APP
pure necessary for the most active operations
of the line The estimate of the engineers places
the aggregate cost at eur millions Of which
will BE- represented BY bonds bearing seven per cent
interest," and the balance BY stock drawing interest at
seven Per cent, until the road is completed. The
bonds about being issued viii be secured by the frat lien
upon the road and all the property Of the company
Thi, will make them, st all events safe invsstment
A the road will be cheap enough to the bondholders
houd ultimately fall into their hands, but the stock
holders will have . very poor look for profits from
the remainder Of the nett earnings. All the
BARN has been done the stockholders have Involved
themseves as deep they will have an opportunity;
and the capital required to complete the road will
Ioubtle,s be raised BY the issue Of bonds bearing
rate of interest and occurred BY property costing