The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-05
CO N MERCiAL AFFAIRS.

Sunday, nov. f--6 p. M.
During the past week there has been lull in the
stock market Prices have fuctuated fraction from
day te day and the operations In the aggregate have
been only to u Moderate extent The hrst cause for
this is the absence Of outside purchasers and
cond the anxiety to learn the nature Of the next sd-
| vices from Europe. Another for the present
state Of things in the stock market is the near ap-
prosch OF the session OF Congress The probab-
| ty that some important change will be made in our
financial and commercial poieythe probability, at all
events Of the agitation of the leadog questions affect
ing the most mportnnt interests Of the country keeps
things In uncertain unsettled and fevsrish state
The mercantile classes do not operate with much
condolences and spectators Of all kinds become timd,
ard prefer waiting the Developments at Washing
ton, before involving themselves to any greater
| extent. We have not the slightest doubs but that
some new financial scheme will be brought forward,
through the annual report OF the Secretary the
fury, by some administration member of Congress
for the Psrpose ofmodiyng the independent treasury
system, and making less restrictive in its specie pro-
visons Several plane have already been proposd for
increasing the paper currency Of the country; among
which banking upon the basis OF issue Of bills,
cured by deposit Of United States stocks with the
Secretary Of the Treasury has been put forth by
leaders OF the administration party in this city. The
object doubt of the orgnators Of this system to
Of government bank and the substitution Of its bills
for the Dues specie required
under the existing system.
The only feasible plan that has occurred to for the
isue ct paper currency by the government is
desmabe at the different minis upon presentation, and
receivable, Of course, for all the public dues. This
would give them q credit in the remote sections
Of the country make them safe and desirable kind Of
exchange for the regulations Of balances between
that may exit in paper currency. An issue OF
twenty thirty millions Of dollars In bills OF all de-
nominations would drive out Of circulation . large
amount Of the paper Of the many worthless banks,
which 10 found in every city and do away with all
the objections that exist relative to the ndepon
dent treasury system We are not much opposed
to the receipt and disburssWent by the government
Of sound and saie paper currency, as to a renewal
Of that connection between bank and State which was
the OF much disaster aud distress few years
since in the financial and commercial world. The
opponents OF the present hoAncis system OF the gov
eminent are more dissatisfied with the dissolution
which that system brought about bet~esn the govern
n.nt and the banks than with the specie provisions OF
the act and they will leave effort untred bring
them together again. The amount OF specie In the
different repositories Of the government the I'D Of
October last $751; s63 Most Of this was dra sn
from the banks, and to certain extent caused con
traction Ia the movements OF these Institutions Had
this smount been TO the credit Of the government In
the principal banks Of the country IL would have been
made the basis of expauson--an increase q indi
ydual credit aud Of course poDdng increase OF
speculation II The funds belonging to the govern
Deut i.msin in its hands In specie, aud issue
Of paper made upon lite bssis, It viii ooiy pre-
vent any undue expansion Ia the shape of bank loans
but will compel those Institutions to reduce their circu
latiou 90 n safer limit.
The annexed statement exhibits the quotations in
this market for the principal speculative ssocks for
each DAY the past week at the close Of week
previous. frices have been very uniform, both for
government and state stocks and tbs fancies.
cvsrsTIOss sOR tHs fhiSuirsl sTosss Tsw