The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-05-28
MON EY MARKET.
Sunday, May az


By arrivals during the past week. have later in.
telligence from all parts Of the world aud the advces
in political, financial and commercial point of view
are highly interesting and important. The political
accounts from Europe calculated to great
deal Of sympathy this side Of the Atlantic for those
who are struggling to establish and consolidate q
publican form Of government, and shall watch tho
movements Of the great monarchca powers con-
tinent closely and anxously They about entering
upon the last great contest and the will tell who
her the people to govern themselves upon the most
liberal and enlightened principles Of selfgovernment
whether they to be ruled by the Of des
potism If the people prepared to take the sceptre
in their hands and ready to hurl every mo-
march from his throne, then may look for war Of
determinations war directly drawn between the two
classes and it is only by such issue that the great
question can be disposed Of The position of France 1t
this moment is a very extraordinary There 10
Inconsistency in the councils of that country, which
Is by no means the harbinger Of good. France
has made such q the great chess board
Of Europe that will complete such . revolution
in tho representatives OF tho people as has been
little dreamed Of and have doubt the cleo
ion will result in such that tho whole policy
of the government will not only b. changed but the
evil already done will be- II possible, remediod The
ball has commenced rolling, and it will be exceedingly
difficult to arrest its AS its impetus increases
it will draw in other influences and the result will be
general explosion. France Russia Prussia, Austria,
and all the smaller powers OF the continent will u
mstey be engaged ut the same time in the same work
Of destruction 1t is not improbable but that England
will have hand in 1t before tho game Is up The
question atstue is Of such nature that Is but
one way OF disposing Of it. Russia has become the ar
btrstor Of the rights Of and IL in
asserting tho claims Of Austria, Prussia will demand
the aid, and that aid must and will DO extended
France cannot look quietly and such things. II
the government OF France make effort to crush tho
infant republic In Italy the people of will not
look on quietly and republican Germany pressed
aganunder the yoke of monarchy The people France
arc determined to take very prominent part in the
drama about opening upon the European stage and
when tho game has fairly commenced shall have no
fears for the result
Commercially and financially tho European news is
encouraging. but by means important. One of the
most satisfactory features Of the financial intelligence
is, the improvement in prices and steady demand for
United States securities State stocks also de-
mand at advancing rates This looks WE'LL but as the
difficulties the continent thcken. hostilities
tend and capitalists find 1t impossible to invest their
money safely tho demand for sescrities will In
and prices, of course improve 1t is i'll wind
that blows no one any good, and it would be for
interest every Of the old Of Europe
prosted and scattered to the four winds Of hea
The effect Of the revolutions which have already
taken place the Continent Is in the large
invested in stocks; and it is impression that
before the lapse Of many years. nearly the whole Of
government stocks good State stocks &c., &c., will
be held by foreigners This will relieve Of ono or
two hundred millions Of dollars worth of uries and
release the capital employment In the development
Of the natural and immense resources Of the country
1t is true shall have large to remit semi
nually in payment for dividends, but it does not
follow that such payments will be directly made
in gold, that such will be required
will be SO much extracted from the specie of tho
country. The usual import and export trade Of
the country will regulate this important matter 1t
would be better, able to hold all
curites and keep the interest within limits;
but capital is worth much In this country just
now, to lcck up such large per cent of available
means, and we must for time get foreign capitalists
to carry these stocks for us AS most of our public
stocks will be paid at maturity shall not under any
circumstances experience q very great drain. Great
Britain could not pay the interest her debt to
foreigners year without creating financial revul
sion and political revolution.
Notwithstanding the abundance and reduced value
OF money in England, it ia impossible to get up any
Speculative movement in merchandise, a heal
thy activity in Any of the leading departments of bust
although the market had experienced material var
alton Previous prices maintained but there
no indications Of any favorable change Bresdstufs
were inactive and prices dropping Extensive supplies
had nlled the markets. and all descriptions
cheaper Nothing had transpired relative to the
thsr of unfsvornbe character but the contrary
the growing crops looked promising On the whole the
market reports do not differ from those received BY the
last three or four steamers
The stock market, during the past week. has been
unusually quiet for this quiet season. We have
less disposition speculate in fancy stocks
either for rise or for fall, and the bulls DO
daily getting weaker and weaker Tho loss of nterest
must be and this alone s sufficient to use up
many Of the smaller class Of operators 1t is matter
Of much astonihment, to many, where all the worth
less fancy stocks 60 towho hold them, and what OBJ
ect the holders have in view in carrying them from
week to week and month to month. There must be in
Wall street from twenty to thirty millions of capital
invested in fancy stocks, upon which not tho first
fraction of interest has yet been paid This isn.
loss falls somewhere. Year after year, this goes
on and the stocks represented become year after year.
more worthless. This is what ruins the bulls; Will
the bears make good business merely out of the in
teroa paid them. Money is drug in Wall street at
FIVE per cent 1t is impossible to loan any large sums
ut any price; and capitalists have been compelled
to purchase stocks. to employ their money at
reasonable rate of interest This creates demand for
and good State securities and tends to de-
press prices for the fancies tappears impossible
get up any ment in any of the leading fancy
stocks An easy money market usually creates spe-
cuatiou but il has failed this time and have aban-
doned ali hope. The bulls must either carry their
stocks at present prices let them down. to get them
of their hands. we know Of thousands upon thou
sands OF shares Of stock held for a rise, the
holders AN get out without loss and al advance Of
one or two per cent any fancy In tho list would
bring out an Immense quantity Of stock. Almost
e,oIy broker the hss orders to SELL at prices
little above the current rates, and If the outsiders
are not exceedingly wary they will get caught We
have before long insctive season. and 1t Is alto
geher probable that shall be visited by the cholera,
to an extent perhsps that will destroy for the time,