New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1849-03-30
The stringency Of the Money Market
What rnusSs ne

he irpofi.,ions are over" ksTu
Tie boa u he sPnsg nPersiors harssrT.t"
I'd. Bsst., waist s.-,- iasi 70. .grlr Hyol,,isa.
over. ard that 'Asr - = s''ssey s Of ,as so
To I've Eahor Of The Trtbsns
This story, tod by Importers from time imme-
mortal without the least discrepancy, Is now
adopted by gentlemen 10 Wsll-st Few Of your
readers are believe. 80 green as 20 be influenced
By it. Now, ! an 40 crosker, bat il you will al
low me space Tor the gi'ersnce Of few thoughts,
would say that SIM he substitution OF the
Tariff Of q for that OF {. the country has been
flooded with foreign Gods, causing & large in
crease ia the number or Merchants ia a. our cities
and villages. That this state OF things will con-
tinue until there are some import ant modifcs
lions Of the present Tanff. That very soon We
shall again have weekly steamers That they
will come fu-ireighted with merchandise and
that the Sub Treasury will retain a share Of the
specie IN Wal 81.
Some Of the results Of this free Trade obtained
at some trouble, but accurate, ! believe Ia the
MAIN give you below
And first an unsettled Money Market for a
longer perCd than Is recorded IN the hstory Of
our Commercial operations.
During the last thirty years, seasons Of strin-
gency in the Money Market have generally con-
tlnued from 3 20 : months
In the great revulsiOn Of 80 money vas scarce
and commanded high price nearly nine months
commencing late in October and extending to the
! first Of July.
During the four wears that the Tariff OF - was
in existence there was little variation II the prlce
of money. II was attainsble AZ an interest OF
| from ) 10 per cent For the last eighteen months
/ money has maintained hlsh valde-nOt day
has intervened in that time thst an individual
Il - nE.4f
Wall-st and lay his hands on choice securities at
| discount Of from 10 20 : per cent. per annum.
From October a. 10 December T., period oi
! fifteen months. there occurred IN our CITY speak
onlv OF the Dry Goods interest and do not lncluie
retailers thirty-twO fsilures-iive more than hap
pened in the four veGrs commencing with ~ and
| terminating with 40. In Boston the proportion IS
still larger; in Philadelphia about the same as
| here in Baltimore less in Richmond as numer
Gus as in 81; IN Charleston more IN number
with ess liabilities than In 81 IN New-Oreans
| less. I'm the same time more money has been lost
by our merchants who desl with the Country than
! i'm the five years previous. Some lew OF them
had bv the wordy essays Of Sec'y Walker and
the unblnshng statements Of the " Free Trade
papers been Induced 10 believe that the country
was generally prosperous The last inventory
has, we are inclined to believe, pat them rlght.-
Now Mr.. Editor, these are facts, against which
the run.doA % statements OF tie Journal Of Com
Daeyce and the Ereninp Post DO not weigh
feather.
The failure Of the crop throughout Europe in
I $40 saved US from general bankruptcy IN J.
and =
The deficient crop in Great Britain last year
together with the steady Transmission OF Amer-
can stocks 10 the other side, now enables our
Banks to hold on to what little specie they have
MERCHANT.
p. $. Since writing the above have read your
Money article in Thursdays paper and 1t IS
amusing 20 see, IN assigning causes for the present
scarcity OF money, how clear you steer OF the true
one.
The Railroad enterprises now prosecuting in
New. England are 30 percent. less thsn they were
two three aud four years ago; and less capital
has been embarked in Manufacturing durng the
last twelve months than in either OF the four years
previous. That Eastern Manufacturers should
require facilities In tins market, where SO large
proportion Of their goods are sold IS to be ex
pected. a NJ
~ Our correspondent, with whom we gener'
ally and cordially agree must be aware that the
Money and Business reports OF The Tribune are
not written by the responsible Editor, but are en-
tirey independent. We do not require nor ex-
pect our Assistant in that department to take his
cue from u.s. and it is to be expected that his state
Inents will be somewhat colored by the opinions
current in Wall street. Had A Merchant re-
spected the obvious distinction here Indicated and
addressed his article to COR Associate whose state
ments he criticises should have been spared any
ausion to the subject. We have no manner o'
doubt that the substitution Of the Tariff Of 10 for
that OF AZ is the primary, paramount. fundamental
cause Of the structures and perturbation recently
aud presently experienced in the Currency and
Business Of our Country. We presume our As
cod above does
not materially differ from us in opinion but
Merchant can ascertain by addressing him on the
subject Ed' ''0"Ne'