The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-09-02
MON EY ma A IL * K T..

SUNDAY, Sept o, p. NJ.
The stock. market closed yefterday, dull and de-
pressed. Throughout the week, the operations have
been to very limited extent and the prime ipa pur-
ehsssrs the bears There outsiders in the mar
ket purchases for sseculatoni no Appearances Of
any In med ate important improvement in prices
no indications Of speculative movement Of the most
moderate character The stock market IL literally dead,
and appear 10 b. almost beyond the power OF gall
Vanish The fact is. prices carried mp rapidly
last spring and we'll sustained by the abun-
dance of money in the absence Of outside pur-
chssers that there Is margin for further improve
ment and feels disposed to enter the market at
rates. Before speculative movement OF con-
sequence could be produced 1t would be necessary to
let prices down several per cent Holders Of fancy
stocks have a strong head wind to beat up against,
and they must take short tack backward for
the purpose Of getting long tack forward. They
might hold where they for a time longer, by
means OF facilities afforded b. an easy money market,
but they viii gain nothing by II, and finally viii have
e. give say and before the wind with everything
Hyipg THERE'S such vast quantity OF stocks Of all
kinds pTefiirg pon the market that would require
an immense capital 10 them up or two
per cent, and a l. doub'fui the be 90
tained vhcb,r sufficient number Of operators could
BE- found cspossd to take the rick At present prices
for sterling points, the probability Is there could not
The prospect Therefore for advance 10 VERY
The only basis for improvement in prices is the
cheapness aud abundance Of mvnsy. shoa'd this easy
t;aio of the market continue, boldsu Of stocks by
hypothtca;ion, may carry themselves for time
longer and may possibly dspo.e of small lots t cost
or even small profit but It will be utterly I'm pos
sibis to get Up the excitement necessary to affect
DIT. e. favorahly 10 auy extent The public mind Is
properly disposed Tor such result, and until con
ndsnce becomes more firmly Established must be
ssii, ded with things rs they are.
Tie financial and ocmu srcis world Is in q curious
condition. There IL superabuniance Of everything
10 supply The wants OF and u is this very super
abundance that exeris suoh a depressing inaacnce
u,on prices Food q all hinds both nccessariss sni
Injuries the raw material for the supply Of all the
rnnnufsctories capital credits, securities, to
Limit, ztent exist There scarcity Of any one
In portart article Of end 70 this plethora we
may attribute the general depression In prices Tue
enormous creus Of grsin wn'eh have been harvested
this ysAr-the favorable chang, recently resiired In
tbc appearance ofthe cotton eropthe unnense guam.
tity q goods manufactured, aud the large mporta-
tors into this countryths apid Increase In modes Of
communication between all sections Of the Union ana
all parts OF the world and consequently great In
crease in competition reeucirg prices md prohtathe
the accumulation Of capiial and tho reduction in the
rates With which public and private
credits Inflated creation Of stock securities q
al kinds ard the steady depreciation experiences w
most OF them, from the period Of ssues tend 10 tbs
devtlopement Of crisis that villa sweep away most Of
the evidences 81 prosperity that exist and bring
things TO souoder aud hesithy ttate. Evsry-
thing ut present IL artificial snd unnatural, aud
must expect change hcfore the lapse Of many months
The course pur'ued during the past eighteen months
by our banking institutions, shows how rapidly
fastening towards the vortex that will swallow up
Thousands -ho have been seduced BY the ease with
which credits have been expanded the loans bro
ksrs how 20 what extsHt facilities been furnished
to holders Of stocks The accam uation OF specie In
the sub-tressury shows that we have imported this
seasop immensely The shipments specie show that
our exports and large remittances Of public stocks
have not been sufficient to liqudste the balance
against our foreign trade, aud the increase Of
specie in the hank vaults " sufficient TO create the
most alarming spErehensions that II will be made the
basis Of greater expansion and consequently The pre-