The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-05-27

trovered but by means follows that caes of out
side operators large enough 70 give any important impe
tns to prices can be found At regular street
operators have control of all the leading securities
they are DESTROYS Of getting rid Of them all events
Of reducing very materially their supplies Instead Of
letting prices down so that purchasers would have
greater margin for rise and greater probability Of real
zng profit holders disposed TO maintain them
and expect Spectators in the top Of the
ket II is possible they may do As the value of
money becomes reduced and the speculative propenses
Of people strengthen movements in fancy stocks
become active, and their market value advance.
We rec no way of using small portion Of our
rapidly accommodating capital The banks full of spe.
Gle The amount in the Wall street banks at this mo-
ment, is probably greater than before known.
New banks springing up like mushrooms in every
section of the country The paper currency increasing
pro with the metallic and borne along upon
the surface Of the current without any knowledge
dangers which bese in navigation The experience
Of the past is guide for the future in financial affairs
The production Of gold in California and Australia has
revoutonzed all the financial systenAs Of the world and
We are about entering upon in commerce, and
trade. We must mark out new lines perfect sys-
ems, adopt new principles, under the order Of
things One thing is, however pretty certain we are
going ahead too fast Credit both private public
expanding too rapidly and unless something to
we shall have before the lapse Of many months sudden
panic with all its accompanying evils 1t must be I'D
mtted that the basis Of the present expansion sound
1t differs from all others which have preceded but with
this favorable feature it cannot stand too great an accu
mutation in the shape Of credits, extravaganza &c.
Public confidence is subject TO such sudden rcvulions
that after having passed certain point, it becomes
highly dangerous to continue Capitalists become
cautious and timd, and more closely investigate ope.
ratons. Business paper is closely examined
Rumors Of weakness in certain quarters become current
individual credit tainted and all at once without appa-
rently real cause, collapse takes place, and panic
spreads the country with the rapidly whrlwind
All the gold in California aud Australia piled up Wall
street would not arrest this movement when fairly in
motion If the vault of any bank in Wall street filed
TO the brm with bullion it would be of little service
the commercial and financial community without credit
and is therefore dangerous to ampcr with such an
portant such indispensable element in the operations
of trade. We at this moment rushing wildly, bndy.
reckessly into the vortex which has hitherto swallowed
up many hundreds of millions of Indebtedness and
rapidly paper promises to pay have been manufactured
they by Of those frequently resored
to- rather frequently forced upon the commercial
classes of this country be expunged in much shorter
time than that required for their creation
The receipts the Office of the Assistant Treasurer of
this port to-day amounted to ST. GEO. payments $40 20S
| S5-balance, S3,S52,53S 81.
All claims against the Hamilton Bank of Rhode Island
be presented to the receiver before the Of
June proximo forfeit all claim to the dividend then
to be made
The demand for land warrants continues active and
the supply good We quote 100 warrants, S125
S12s eighty warrants, S64 $67 forty war
rants, $50 $3I Prices fuctuate considerably and
suddenly.
Arrangements in progress for the establishment of
banking institution at Cairo Illinois, under the Free
Banking of that State with the circulation secured
by the deposit Of Virginia State Bonds under the Of
the Virginia State Stock Bank commencing with
capital of 100000 The large expenditures to be
made at Cairo by the trustees of that city the railroad
company and others in improvements upon the property
together with the immense amount of the productions Of
the West for which Cairo become the principal
enrepot fail to make it important institution
Thompsons Bank Note Reporter gives the annexed quo
tations for coin and bullion and also for English paper
currency in this market