The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-09-16
MON EY n ARK EFT.


SUNDAY, September I5-sPM
During the past week there has been more Auovanev
In the stock market. Prices have nuotuated CON.
sicerably but the tendency throughout has been nm
ward and there has been more disposition among ont
siders to take hold. This has not however been ex
tended to all stocks and yet confined to one or
two Of the leading fsncies. Whether II will reach
Others or not question few weeks will determine
The better class Of securities have been in better de
mand, and although prices have net in any instance
advanced the probability that they become alb
sorbed for permanent investment, the market value
VIII steadily increase. In all where the market
value ranges below the real value Of certain produc
tive securities there is doubt but that very inn
portant advance will be realized within the past
TWO weeks, events have transpred calculated to in
crease and strengthen public confidence very mate
rally, and although no speculative movement Of con-
sequence may be the result steady impro in
prices for good stocks generally, and more indis-
crininsts investment Of capital where II will be
largely productive will be the effect 1t Is our i'm
preston that great revolution will be experienced
In our financial affairs, within the next two years. as
has ever been realized in any part Of the world The
position We now occupy In the rank of nations 4.
higher than could have reached in the ordinary
course Of events in q century
The discovery Of gold in California appears almost
special providence for the Development Of the i'm
mense commercial resources Of the Western world,
and the advancement of civilization among nations
covering the shores Of the Pacific California in the
hsnds Of Americans, must, in few years even under
the most adverse circumstance provide the basis o.
a currency SUFFICIENT TO carry on a commerce. ten
times greater than that at present existing without
California, commercial operations the Pacific would
have been limited for ages the progress of nations
would have been regulated by facilities afforded
by the capital produced by the ordinary industry of
those countries monepolizing commercial pursuits
should California produce one hundred millions of
gold per annum for twenty years. the supply at the
end OF that time would not be greater in proportion
to the demand, that exists at this moment We have
from our earliest history been struggling along under
innumerable difficulties, and ss rapid progress
has been, we have felt the want of capital Our
internal resources have been enormous that an i'm
mense capital required to develope them, an,
public and private credit has been extended to the
utmost in furnishing the ways and means to keep pace
with the enterprise Of our people Public debts to
large amount have been contracted, in consequence
OF which, many States have been compelled to sus-
pend Payment Private credits have from time &c
time, been so enormously expanded that revulsioas
have swept like sirocco the land spreading desc
lation and ruin in every direction.
All this has terminated States are no Longer rush
ing blindy into debt, and individuals much more
provement have Of late years. been built by private
capital and under individual management have been
more productive. States have been extricstne their
financial affairs from the confusion years of neglect
not only provided for the prompt pay
nent Of interest but for the ultimate liquidation OF
the principal The aggregate indebtedness of the Fed
era and States governments is at this moment proba-
bly, greater than 1t be again and the tmeis not fan
Distant when there will be scarcity Of stock invest
H. 81 IL. q
msnent to cut large capitalists The finances of tho
general government established upon such a sys-
tenn that II rather restricts than initiates the currency
and has very desirable conservative innusnce upoz-
the banking movement Of the Union. That such a
system may be permanent must be the wish Of every
one interested In preserving uaiorm order Of things
In the financial and commercial world.
Composition In commercial pursuits has com pellet
those engaged to employ greater amount Of capital
in conducting the different branches OF business and
has had corresponding influence In contracting ia
oH'oua credits This has placed trade generally upon
better basis, and materially lasened the dangers o
odeairevusions IL therefore appears that In eve
~ DEPARTING Mt Of finance in pursuits gene
rally, ard In all the ramiheations of trade a mora
healthy more solid substantial state of things ex-
ISIS, Than at any time previous within our recolleo.
uon Failures may occur among merchants, banks
created and located In different sections
Tor the purpose Of exploding at the proper time may
fuspend but they do not affect the great body O,
merchants, and the great number Of good banks In
operation in all parts Of the Union There appears
be sOiidity in the present prosperity Of all classes
the most encouraging and gratifying character; sns
" our Impression, that the progress or this country
In industry and the aseumula tion Of capital viii be
more rapid and In the aggregate greater during the
''h years than has been realised during the past
thirty.
The fluctuations In prices for the prneip, spe.ula
tive stocks In this market during the past week b.,o
been a. annexed IL will be seen that the variations
have only been to q moderate extent
evoTArioss ron ryts PHrucuAL sroexs in yus Nh.
sfoHs HsESrr.