The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-05-25

1t will be by the above comparative table that
prices for nearly every stock In the list higher
the 24ti Of May than the Goth of april partic uary
those Of speculative character This is usually the
course Of things during any speculative movement.
Stocks Of doubtful character and little value invsrs
bly, become inflated more rapidly than those of
solid, substantial nature. Good, sound dividend pay
ing securities iuctuatc comparatively very little in
market value and those fuctustons are regulated en-
trcly by the complexion OF the money market and the
current rate Of interest Fancy stocks, those pos
sessing particular value, rather value at all
influenced by every wind that blows and the most
triiing incident in the financial world. Cliques OF
SPECTATORS by their cornering operations affect prices
for fsnces than any thing else and the ups and
downs frequently ruinous to the different classes
ofspeculators engaged.
Government stocks have not varied much In prices
during the past four weeks but the transactions have
been unusually large. The market value Of United
States and State securities has reached such point
that check is likely to be realized in Investments
and It by impossible but that returnr may
be made nom the other side for sale in this
market at ruling rates The advance most
Of these stocks, particularly those Of this State,
have been great since the early investments
made by foreigners, that many may be induced to
realize the large profit and wait the course Of events
Prices rule too high for the remittance Of American
stocks on speculation, or rather there is too much
danger of depreciation TO make IL desirable business
for parties to engage In at present It Ia estimated
that al least twenty millions of American Beeurties
has been sent to Europe since last September the
tire proceeds of which have been appropriated the
payment Of n portion OF the balance against
foreign trade. Had II not been for this mode Of pay
merit, we should have been compelled to ship at least
twenty millions Of specie. Il would have been much
better for the country at large for that amount
double that amount, of specie have gone Europe
instead Of that amount Of public stocks for large ship
ments specie would have checked the imitation going
in the currency in prices and in private credits
and remcdied the dificultes under which we nov la
bor whereas the expectation Of public credits tends
10 increase the imitation within limits. Of all the
elements of speculation, 60 up disguise tho
actual balance Of trade against US; and instead OF
trguishing indebtedness merely transfers II from in
divduals TO our LEGAL governments, and creates
slant drain upon domestic for the pay
ment OF interest. While tbese rsmlttances Of Ameri-
can stocks are going on ything will be apparently
very prosperous money will be abundant and cheap,
and the lmportations will not be any drain
upon supply Of specie All will be fair weather aud
every will be tempted 10 expand his business and
extend his credit; but when the outward current Of
stocks ceases. turns and sets in upon us, shall
End very different state Of things and strin-
gent times. We shall then nnd that the paymen, for
foreign manufactures in public credits, Is better
than in private credits; that II just as wei. for our
merchants TO be indebted TO the manufacturers Of
England for our State. indebted to the capt.
tass q Europe shall find that the evils Of TIA.
sing upon borrowed capital great nov as they
we're in 1885 and 1885, that the result In 1850 and
1851 will be similar to that experienced in 1887 and
1855