The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-06-11
MONEY MARKET.


After week of considerable excitement among stock
cendancy the market closed quiet. Since the arrival
of the Europa the demand for government stocks has
improved, and prices have advanced about two per
cent. State stocks have also advanced, and Ohio 6s
and Pennsy lvania SIS have been in active request,
at Ietter prices Large purchases Of all these stocks
have been made foreign account, aud the
mittance speculation have been to some extent.
We can form very correct idea of the amount
of government and State stocks held abroad, upon
which interest will be due but have doubt that
full thirty millions of all securities owned
by capitalists resident in foreign countries. The in
tercst most of these stocks will be due within the
next sixty days. and the remittance Of such large
amount will have tendency to put up rates for ex-
change, and arrest any further importation Of specie
Within the next six eight months at least two mil
lions of dollars will be RENTED to Europe pay
ment interest stocks held by foreigners and
this will be increased every six months for long
time to come Tho European demand for stocks, and
its influence upon prices, at this moment OF the
the eadin1 interests of this
try as it brings capital among us, and leaves do
snestic resources to find employment in developing
most vital and giving strength to the various
enterpisiug movements Of the day 1t is also source
of pride to stocks taking the lead Of those
of every other country in the face of the slurs and
ridiculo thrown upon them by foreign journals. 1t Is
some satisfaction to the securities of every Eu
ropean depreciatiDg while sought
after high prices by the most cautious capitalists,
and people of property, who wish to compc-
tcncy from the wreck and ruin going around them
their native country This is ali very fine, and must
confound those who have talked much about repu-
diation aud American credit with a view Of producing
prejudices that would compel US to carry own
curites; but the annual extraction of many mil
lions of dollars to pay the annual interest on
these stocks, is feature in the matter which we
cannot avoid ana which will be attended with
many evils The immense debt OF Great Britain
would bankrupt the nation and produce revolution
were it not that the interest is retained within thc
country; and so long such is tho case, the burden
will be comparatively light Fortunately for us,
whole debt il not very large and 1t has not many years
TO that in the event Of the bulk of being held
abroad we shall ultimately be relieved from tho drain
upon caused by the payment of interest We alludc
TO this for the purpose of showing that tho remittance
of stocks to Europe is notatogeher such favor
able matter as appears at the nrst glance. y
As the troubles aud difficulties in Europe increase
the emigration to this country will receive greater
impetus, and many families Of wealth will scrape to
goher the remnants of their property and flee to the
United States for that safety protection which their
own governments cannot guaranty Among these
emgrants there will be. without doubt many capital
lists who have made investments in securities add
those who have heretofore drawn, annually, sums from