The New York herald., 1849-02-24

GDMMERCIAL AFFAIRS.
MONEY MARKET.

Friday, Feb. 23-6 r. Nj.
~rhe teegrsrhic dispatches from Halifax giving the
dvces received at that port by the steamship Europa
from Liverpool have had very favorable effect upon
our stock market and raised the spirits Of the bulls to
n high point and given the bears tho blues. Govern
ent securities advanced TO- day and one and half
per cent, and hedsrs not anxious to SELL at
that prsferring to wait the arrival Of pri
vste accounts before putting their supplies upon the
market. Fancy stocks advanced to-day q fraction,
and tho sales were large. On the whole. the market
was more buoyant than We have noticed for long
ine and the Impression is rapidly gaining ground that
we are about entering upon period Of speculation
unprecedented within the past three years. The effect
OF enc or twoaeeal causes may for time bs sufficient
to keep prices depressed or preventa very rapid
riss but as they will soon be permanently removed,
wesse nothing calculated to arrest an imitation in
priees beyond the most sangune antiopstons Of the
bulls With such abundance Of money in Eng
and that the rate Of interest has become reduced to
less than three per cent and capital seeking invest
msnt at the ruling rates it will be imp ossibls to
keep up the rate Of interest in this country to six and
ssevsn per cont The confidence in American seou-
sesss, which already exists abroad is sufficient to
.rs.t. = demsnd for them, which will absorb in Q
abort time nearly the whole Of public debt ana
the quotations current in London the 9th Instant
in that market A six per cent United States stock,
along side of English consols, has wide margin for
an Improvement and We why that mar
in should not be covered. The time IL not far dis
,sant when the current rates Of interest In this
country will range two and three per cent below
those now ruling; two countries closely CON-
znsoted in their financial and commercial affairs
Great Britain and the United States, must have
. more equal distributon Of capital, and more
equal rate Of interest than has hitherto been the
Foreign capital will seek and find employ where
jt viii with safety command the best interest," and
our public securities becoming well and
Savorably known abroad, that they must attract an
immense amount of capital to this country We have
no doubt that in the of another year fifty MIL
sws Of dollars worth of Amercsn securities over and
above the amount now held abroad, will be absorbed
BY European capitalists This will not only relieve
our markets of an immense amount Of stock but will
ivs us an amount Of capital for employment In oom
msrcisl pursuits for other purposes, that win give
rrest impetus to business We have hardly yet be-
gun to feel the good effect Of the change that has
taken place in the commercial affairs affairs of Europe
The movement has but just commenced, ana as
suffered severely by the rsvuision, so must We be
much benefited by the reaction. Events which have
franepred In Europe within the past two years have
tended more to turn the OF capitalists
70 the resources the United States than thing
ever before known, and the result OF the
made and Of the knowledge obtained Is visible In the
Investment, made in our public seeuritics. About
een years ago the feeling existed in ali pstts
of Europe, and immense amoant Of capital wss In