The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-02-19

have the advantage ard able to keep down prices
for stocks II 10 hardly possihs this to continue
for any length Of time particularly the prime
Of this extraordinary state Of things Is purely local
and uust soon. In the ordioary operations Of our
financial policy, be renewed It is nothing but the
present position OF money market that gives the
bears the sscepdancy and the In ndsnt
Treasury act Is properly administered and the depo
sits distributed, there will be q complete revo-
luton, BY which the bulls will be able to realize
all their most ,apguiDs sntisipstoss. The bears
arc Watching the movements Of the Treasury de-
partment very olosely and depend upon Q CON.
tinusfion Of the percent policy of the Secretary,
for the remainder Of bis term Of Office. Two weeks
from to- morrow CLOSES the present and
the advent Of the government will DO hailed with
10Y by large majority Of the mercantile Glasses.
They expect change In the conduct Of public affairs
Indifferent almost to the nature of the change,
they look for and DESTROYS Of fair and proper ad
mnstrstion Of the commercial aud financial systems,
according to the strict letter Of the law that all may
regulate their operations accordingly. It Is to be
hoped that the Treasury department. at least will be
free from and Independent ofa Wall street clques and
all stock specustng and that the finances OF
the government will be managed solely with sys
the best interests Of the people ct large.
The amount on deposit in tie Sub. treasury Of this
city, yesterday, about three millions Of dollars;
and as the accumulation has been going on In
other parts a. well 80 THU, 1t Is within limits to
estimate the aggregate amount, at this time, On
deposit to the credit Of the Secretary Of the Treasury
In the different depostories ct six and half millions
OF dollars. More than millions Of this sum has
been withdrawn from the channels Of commerce d
fscty connected with this city and mas Of course,
had depressing effect upon this market On the 9th
Of December last the banks of this city had on hand
$3.50 4A In specie; and, according to estinsts
made among the Wall street banks, the city banks
had, after tho close Of business yesterday four and
half millions Of dollars, showing decrease In little
more than tive months Of 81, 350,424. II the drain
upon the banks continues ct this rate they will
be pretty well reduced; but we have idea such
will be the csse in the event Of the
continuing large for any length Of time. We are
daily looking for large arrvals Of gold from California
and silver from Mexico. We have already advice
Of shipments for this port amounting to nearly one
million Of dollars; AID We have no doubt the re-
cepts in this country, within the next three months
will be between two aud three millions Of dollars
By the arrival Of the steamship California at Psnama
and departure for San Francisco, we know that the
line between these ports 10 established and this fact
snables to form pretty correct calculations relative
to later advices from our California possessions The
steamers forming that line will afford the safest
cheapest, and most expeditions conveyance for the
Of specie from San Francisco to New
York; and we shall receive remittances Of gold dust
from the mines, hereafter, by every arrival from
Chagres.
1t is about time received large amounts Of gold
large shipments Of specie and the outlay required for
the expeditions fitted out from this port capital of
at least three millions Of dollars has already been
bsrked in this business-of which, at least and
half millions Of dollars have been withdrawn from as
In silver coin principally Of small den om:nston This
SO far has had tendenc to tighten the
money market; and require this moment, at least
five millions Of dollars in specie, to place this Sec
ton Of country in condition nd and as strong
upon the Mt Of the excitement. It has
thus far Of mite advantage ship owners
and to many branches Of buness butt has restrict
ed to such extent that 1t will require
full twelvemonth to place us In better position than
that started from. There another important mat
ter to 10 taken into consideration in connection with
this gold movement and that Is the cost Of maintain
Ing the army Of emigrants which Ia swarmpg into San
Francisco from all parts of the world Es.imatnguthat
It will cost dollar day for food for the support of
sach individual in California the cost Of sufficient pro-
visions for the sustensnce Of enc hundred thousand
people for year. would be $50 O0O This s SIM
ply for food, to sustain health and strength. This Is
large nearly the whole Of which is to be dug out
Of the earth. There Is no other resource in that
sountry. They have nothing to give for food but
gold, and II the supply of that material fails what
II the alternative? Starvation From ell the ac-
counts received from the gold region, can ar
rive at but one conclusion which IT, that the sup
ply Of gold IL inexhaustible and we have no
fears but that many sntic'pations formed relative
to the mineral wealth Of that country will be realized
1t is, however, we'll enough to leok at this movement in
al it, bearings and calculate the chances Of success
II there be as much gold in California represented
ct least forty millions Of dollars worth must be extract
ed from the soil within the next twelve months to pay
for shipments already made, and those which will be
required within the next year. Of merely the
Of life.
The annexed table exhibits the quotations Of the
principal stocks in this market each day
of the past and at the close Of the week previous
The closing prices yesterday ranged about two per
cent higher than on the Saturday previous.
QUOTATIONS FOR THE PRINCIPAL Srocxs II rHx Nnw
YORK MARKET.
55s s's =, H's. i iSsx issE i3ss
Ssnnyiv;ni. S;::::. 77S 79x g ~ 3 Ssx ~
Indians State S;. .. -. 60 6Ix 81 s. s. 80
Reading n'tgass Boads. = bsx
e. q; $:.!::is 49,: e Il & q ~
S s:I%:,; Is,:;; ~ g. ~ ~ SSs