The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-26

ing on an average Of per cent premium, showing
surplus in the Comptrollers hands, at the par
value By wise provision of the free banking law, 1t
is impossible that any bank notes could get into
circulation without being duly secured and registered
The plates Of bank in the keeping of the State
agent, and when any bank wants bills the order Is
given by the Comptroller the bills printed under the
inspection and supervision of the State agent
gravers and forwarded to the bank department, with
the sfdavts Of the parties the banker deposits his
stocks security, takes his bills, signs them, aud
puts them in circulation. In instance has it ever
occurred that bills have got into circulation with
out being duly countersigned and registered As re-
CARDS the bills of the Merchants Bank of Canandsgua
they promptly redeemed at the agencies, and by
every broker in Wall street. at the rate charged all
other good State money. The circulation is composed
Of only ones and three's and examination Of the
plates Of each will satisfy any that any attempt at
alteration could easily be detected.
The commercial from Europe by the Caledonia
is important There had been another advance in
quotations for cotton, and the speculative feeling
increasing. This improvement is equal to half cent
per pound making the aggregate advance, within Pc
Rod of four weeks about ga cents per
about twenty five per cent the total value the CROP
The enormous consumption of the material during
the present year. in the face of hun
bred thousand bales below that connection
rate of interest have given impetus to prices which
may continue for several weeks If consumption con-
tinues ct the rate thus far realized this year pro-
liability is that prices will be sustained at lea and
II the production proves less than at present antic
pated prices will doubtless advance, and speculation
increase. If peace be preserved throughout the
world, nothing likely to prevent an Immense
consumption of cotton and If the supply 10 net
equal to the demand, there will be limit to
prices. AS the market value of the material in
crases the production of qualities Of goods de-
and the consumption Of cotton may in this way
be kept within proper limits but capital Is SO
abundant, and the modes of investment limited,
(now that railroads have turned out to be such bub-
bles that it would not surprise to of the
most extensive speculations in cotton have
for years. the result Of which be easily imagined
by those who have in years past had experience
in such thirgs The railway bubble has burst in Great
Britain and 1t is rapidly reaching coapsing point in
this country. The gold and silver currency of the
world has during the past year received accession
of twenty to thirty millions Of dollars from the mines
of California, Mexico, South America, Sci the sup
ply still rapidly increasing and the resources of capt.
tasts have, therefore, been largely augmented The
legitimate wants of trade and have hardly
kept pace with the increase Of capital take the world
at large and there is enormous amount Of money
seeking employment or investment in something Fit
cannot find safe in stock securities pro-
ftable in legitimate channels Of commerce.
it will 60 into speculation and be used for monopoiizng
some important article Of consumption create an
artificial imitation in prices and arrangement in the
usual course Of trade. Such movements are now GO
ing on.
The present and prospective deficiency in the 60
treasury to create great deal of talk
in Washington and the organs of the two political par
ties are at gerheads the subject The extra
ordinary feature In the whole affair Is the fact that the
Union is trying to show that there is not and will
be- during the next two fiscal years. any deficiency In
the treasury; while the Republic, the organ Of the
government insists that there will be deficiency at
the close Of the fiscal year ending June 80, 1851 Of
about twenty millions Of dollars IL is curious that
the opposition should be making effort to show that
the treasury is in better condition than reported by
the administration organ. We are not, however,
astonished at any thing days either In finance,
politics, religion, anything else. As have no
official statements frsm the present Secretary Of the
Treasury, must be guided good deal In cacu-
ations by the reports Of Mr. waker and to commence
with we annex the estimates of that gentleman tor
the year ending June co. 1s4o made the 9th of De-
cember, 1sas.
GorRsMESr FNANcrs-Rrcrrrrs AND EXPENDITURES.
Year Ending June 80, ls49.
Estimate. Receipts.
From customs, LIST quarter, by
actual returns. .......... $500 ,e35
From customs, I'd Sd, and 4th
quarters, as estimated. 23o0s,064
s320o0Ooo S2s,35oT54
From public lands. 100000 1,633,749
FROM miscellaneous sources 100000 lO9p 2l9
sso2OOOOO ssi,Oss,T22
From loans q d treasury notes,
let quarter, =, actual returns
pr ststeme mt. $40 l21 200
From loans and treasury notes,
I'd. Sd, and 4th quarters, per
statement. ............. 1o,5osi235
- 2o,s95,4s
s5i,T7sl67
Balance In treasury, July l. 1s4s. ...... 15S,53s
Total resources. ....,...,......... s5l, 932,esI
Expenditures.
Civil List. &c.............. 30ye3b,4b0
Army proper &c. ........... 10464,508
Fortifcations, ordnance arming
militia, &c. l646.tyI
Indian Department. 15s91b5
Pensions .................. 7227o6
Naval establishment. ....... 6,OS9,032
Treasury notes. ........ s,2s5,A22
Treasury notes outstanding and
payable when presented. 16l es9
5il95,275
Deficiency, June Goth, $780,. s2,262,5si
This is the result provided the actual expenditures
were as large as estimated for the year That they
have been larger both for that year and since have
doubt and the calculation made by us, few days
since, WILL upon comparison with the coming reports
from the Treasury Department, be found correct. On
the LIST Of October 1ss there available of the loan
Of March, 1s4s, s9,471 $50; and Of previous loans,
~ OoG the sgrrecste NJ which Ia thu auount