The New York herald., 1850-04-27

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| There was considerable activity among the Encies
to-day, but most of the transactions time
principally buyers option Government and State Sc
curties not active usual just previous to
| the departure OF the steamer At the first board,
Psnnsylvania SIS advanced IL per cent Reading
| Railroad, u New Haven Railroad, u Harlem, u
Erie Bonds, new, declined =, per cent Farmers Loan
n Morris Canal Z Long Island, u; Nsrwich and
Worcester, 1. At the second board the market was
little better-Erie Railroad and Harlem improved u
per cent each Reading Railroad, n Long Island fell
on1s.
The steamship Atlantic, for Liverpool will take out
very large amount Of sterling exchange and Ameri-
stocks amounting to nearly half million Of dol
lers portion of the cinstalmcnt recently paid
count Of the Mexican indemnity has been remitted
London, to the bondholders of Mexico account Of
that government.
The steamship Atlantic viii carry out intelligence Of
the signing of the Nicaragua treaty, and the settlement
Of all the prelminaries for the immediats
commencement Of the canal British capitalists in
terested In this great and important work will there
fore hold themselves In readiness to pay mp the first
ipstslmcnt required The eight individuals who have
undertaken tho construction OF this canal have
equal interest in H. and the first stansnt required
from esch-sioooo-is for the purpose Of making ar
rangements to open the line for trial once steam
boat the Raphael Ribas has already been pt tho
route, and will ply between the mouth o tho river San
Juan and Nicaragua Lake Nicaragua for the trans
porta;on Of passengers to/ aud from the Pacific As
the facilities have been obtained for carrying
passengers across the Isthmus-a distance Of agteen
miles from Nicaragua to spont the Pacific coast
line Of sea steamers will be put each -lde. and
the route perfected 10 will doubt soon become q
avorte mode Of crossing between the two oceans as
the country through which IL pssscs T. perfectly
healthy, and the climate much more agreeable than
that Of Panama.
The receipts at the Office of the Assistant Treasurer
Of this port to-day. amounted to s47.o5 a. pay.
ments, sl25 254 90 Balance, s4c2s7ll74
The Bank OF the State of Georgia has declared q.
dividend of 81 per share.
The State Bank at Savannah has declared dividend
Of per cent
Certificates oi gold deposites to No 1lta inclusive,
are now payable in the Mint, Philadclph
Exchange ON England Is beginning to assume a
threatening aspectthe price, to-day OF the leading
drawersl0 per ct The natural aud perm limit to
an expansion this side the rise Of foreign exchange
creating a demand for specie for exportasiou which
forces the banks 10 contract In practice expansions
usually continue increasing until rise of exchange
either occurs or Is anticipated and except for this
restraint, they might go indefinitely IN our
mixed currency as In wholly ncon,eriibc; and IL
is manfes, that long the extra demand for bills
81 exchange occasioned by the of the imports
over the exports be supplied by bills drawn upon
stocks sent abroad. on sale or hypothecatios, the
price cannot rise. unauestonably the increased
panson creates constantly increasing e1cess ~ i'm
ports the exports until the extraordinsry supply
Of bills Of exchange 4 exhausted and then the
reaction violent just in proportion has been thus
unnaturay delayed Precisely such the f,ets in
1885 G5 The excess q the imports over the exports
10 the year ending September 30 1886 was according
30 the custom house accounts than tcut, eight
millions and making allowance Tor circuui .tsnces
which do not enter into these accounts. ani which
increase the srparcnt balance II wa about fourteen
millions. Now. ~ docs not admit Of question. that
had our credit dcailngs With England been couansito
the ordinary business credit of merchants, the
commercial belance against which esed early In
1883 wo.id have shown itself upon The exchanges.
Certainly, a. soon the latter part Il that year
modsra'. cxportston II specie. AMI reduction n tho
currency, would have iakeh place and the aidtionsl
expansion, the enormous overtrading sni Insane
spccuations. which characterized the close ~ '3s
aud pccisy 90 WouId not hsvc occurred AMI the
r,,ulson would ha,e been like those are .-cus-
tened to experience every few years instead - rank
ing smeng tie most violent and ruinous AZ the
present moment the balance against ~ d saiaat,d
st fnynve millions which has not been sc,ereiy felt
yet from tho -upply q is by the export II .ocks;
bu, the rise in exchange proves chat mi. sup
ply l. becoming exhausted, anI must nov lo~k to
paying cur debts With something nor- substantial
5hc enormous aud rapid fise that has been witnessed
btely In both good and bad securities vs that the
experience of the past has not rroftsd c operators
IN Wei street snd they have teen laying the seeds Of
another reyusion which the present sui pro yoctivc
price cf EXCHANGE t.timstee 4 cf..s a. h,,l