The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-10-24
MON Ely ARK T. II.

WEDNESDAY, October 23-6P.M.
The stock market continues steady. Holders are
firm at quotations, and long the elements Of
POPULATION continue in healthy state so long will
the demand for stocks OF all kinds continue active
Spectators for in prices who purchase time,
buyers option not compelled to put their stocks
upon the market at the maturity of their contracts
but easily find facilities for carrying them for
any length Of time. and thus reduce the guam.
tity of shares sfeat But for the easy state of
the money market and the probabilities of steady
remittancss of gold from California holders OF stock,
would not have much confidence, and mo-
derste reaction in prices weuld doubtless produce
temporary panic. Under existing state Of things
depreciation in the market value of any security,
creates apprehension and only induces holders to
withdraw their lists from the market and wait pa
tsntly for favorable change Within the past
month we have received fall four millions OF dollars
in gold dust from California and the probability is
that the receipts will continue az that rate throughout
the winter Very few realize the extent Of present
supply OF gold dust, or rather OF gold coin. Cali.
fornis has given at least forty millions Of dollars
in gold duet within the past two years, amount
equal to that held By all the banks in United States
IN 1si5. In 1si7 received nearly twenty FIVE mil
lions of gold from Europe in payment for bread
stus In ls4s. the importation from California
meneed, and the supply from that source has since
been steady Its. therefore safe to estimate tho ian
porttion OF geld aud silver into the United States
from all parts OF the world Independent OF the
ports during the period during the past three
years, at hundred million NJ dollars. But portion
Of this immense has gone ino the vaults OF the
banks the government have several millions In ts
posssssoD, received from eustoms and the balance has
been added to the circulating currency Of the country
This has materially increased the value Of circu-
lating me dium, and placed our currency a
mr. rf Grsa Hrtfa i'm Mt Ia
progressing with wonderful rapidly, aud before the
lapse Of many yeArs " California keep. up the supply
OF gold dust money will be cheap in this country
and the currency established upon ba,is a, sound as
In any country on the face Of tho earth
Up to about the Of the year islT the
currency of this county subject TO frequent and
violent huetuAtions to periods Of specua-
tions and consequently to great mutations aud
fractions in price, for every species of property
These fluctuations most ruinous and disastrous in
their effects and resulted in periodical revulons which
bankrusted Thousands. Within the past three years
very important change has been experienced in the
financial aud commercial world The banks have been
deprived Of part Of the poser they formerly pos
,sssed, and have been hep. in proper position The
Independent Treasury system has worked admirably
since It established, and has been invaluable
| check upon the movements Of banking Institutions
located In the most importent commercial cities This
with the great influx Of precious metals and the addi
ton Of large amount OF specie 10 the circulating
currency of the country, have prevented the banks
from expanding largely, having any In auence upon
mercantile matters by any contraction they at any
time may have esorted TO- The of spe Gle
ring the pact three year, have been such
scale that the effect experienced In previous years has
been lost This Is Of itself very important improve
ment and one, trust which will be permanent The
importation expectation OF half million Of dollars
specie used to create great excitement In financial
circles, and influence the movements less, Of
banking institutions Throughout the Unioa. Now
three TO four millions Of dollars In gold dust are re-
ceived every month from California, and II is hardly
noticed The effect OF all these changes must be Of the
most favorable character, and we look for perms-
nency and stesdiness In financial and commercial AZ
fairs never before experienced IN the history Of this
country progress under this new order Of things
cannot but he rapid and prices for all our products
will be regulated more by the actual supply and de-
mand than by any movement Of the banks, or any at
tempt to create temporary artificial expansion or
contraction for the benefit of any clique Of speonls-
tors. There Is so much capital which be easily
obtained at reduced rates Of interest, which the
banks have no control that apprehension need BE
entertained Of any scarcity to an extent Sufficient
10 have any material influence upon prices or private
credits.
The steamship Asia from Liverpool, brings one week
later intelligence from all parts OF Europe The com
meresl advicss DO not vary materially from those re-
e.,vea nv the Ameriea Quotations for cotton we're
rtbout change; and bresd.tuns In moderate de-
mspd al previous prices. except Indian oors, which
had .,ishtly advanced The financial accounts con-
tinue favorable.
Al the nrst board, to-day there was moderate de-
napd for government ssearises but prices vess not