Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1851-08-06
New York Correspondence OF the Republic.

Vim
The Cool aoeather-Stringencv in the Money Mar
ket-lnterrupt,on Of Summer travel-THe Fall
Trade Commencing-House of Ste,oart & Co.,
New Y DIRK, August 2, 1851.
The two most taked-about topics Just now are the
extraordinary GOODNESS OF the atmosphere and the srin-
gency of the money market. The first is supposed 70
be caused by the eclipse OF Monday which, considering
powerful effect upon our planet and makes fear that
in the north OF Europe, where it total they are
having wintry weather As lor the stngency of our
money market, the causes of that CALAMITY | think
indicated in the Treasury report of Mr. Corwin
with as much accuracy the eclipse foretold in
the Almanacs Gold has been going cut of the country
in SO constant stream that the banks have become
alarmed and have determined 10 forty themselves
against possible, not probable, contingencies by keep
ing what specie they have got in their vaults To do
this they had to stop dscounng, and the moment they
stop dlscountng their customers had TO look else.
where for Accommodations" aud the next result was
scarcity ofmoney. To raise money immense amount
OF stocks hadto be putin Market and this has put down
the prices of the leading aucies from ten to fifteen per
cent II supposed yesterday that stocks had reached
the lowest point hut they went to lower depth TO day.
and the panic in Wall street has yet begun to abae
The very strongest mercantile paper has been sold
high twelve per cent and loans the best securi-
ties negotiated with extreme difficulty 1.-THE next
arrival from Chagres should bring the anticipated
quantity Of gold dust, there will doubtless be an mme-
diate letup of the pressue that weighs so heavily
upon the money market But it cannot last long while
the country is in its present prosperous condition, and
the co fdence of the people in the Administration re-
ma ms unchanged. The pressure will have wholesome
effect by checking undue speculation, and essenng, to
considerable extent, the amount of fall impora,ious
The cool weather has checked very great extent
the travel of our citizens, and been the of
all places of public amusement being better filled than
they usually are at this season of the year.
Already great numbers of merchants from the south.
here making their fall purchases, and the large
obbng houses that depend on that trade makes great
display of winter goods. Speaking OF dry goods-it is
said that the house of A. t. Stewart & Co. RENTED
London last month $400 0O0 to meet their payments
for tall purchases This house is the largest dry goods
house in the WORLD that is it sells the largest amount
with exceptions but heir store in Broadway pro-
baby the extensive establishment of the kind in
the world The addition TO it has not vet been
opened to the public, and will not be before September
Il is generally supposed that the retail department of
this firm is their chief buness but the head OF the
says that not than third of their bus-
ness is retail They have branches OF their house in
Germany Italy, France, England, and are just estab-
fishing a house in Canton.