Daily American telegraph., 1852-03-17
Editors Correspondence.
From our New York corrorpondont.l

From our New York Corrorfendcntl
.@ New YoRK,, March 10.
N money-6alo of Msrchants' Exchange
Legisiature--Eccnomic Government.
The principal topic of late is the easy state of
the money market, and the readiness with which
that essential article is obtained on good paper,
at moderate rates of interest But there is no
telling how long this state of things will last
we still import more than we export, and, as
money happens to be abundant" to use the
cant phrase, Just now, the other side, there Is
temporary "let up" in the demand by foreign
creditors, but before long there will be another
tight period
That noble building, the Merchants Ex-
change" in Wall street, is to be sold at auction
the 10th instant, on deed of foreclosure Of cer-
tain mortgages, amounting altogether to over eight
hundred thousand dollars; besides which there IS
further debt, unsecured by mortgage, amounting
to nearly two hundred thousand dollars. The
building and ground have cost over two millions,
and the ground would be worth more without the
building than with it; for, though presenting on
elegant exterior and spendid rotunda, the rooms
are mostly small, and the passages bewildering /;
and it is a hard job to find any number in it with
out minute study of the directory as you enter
Every room is hre-proof, however, being vaulted
in the most substantial manner. The whole in
come has amounted to about $65 900 per annum.
A building properly constructed would yield
$150,00O per annum. 1t is said that Corcoran &
Riggs have some thoughts Of buying it, in the
hope of selling it to government as custom
| house, (the present one being too SMALL at
| large advance
The legislature some time since elected Col.
Snow, the great temperance member, from his
seat, by a close party vote, the Wings having
previously been in the majority, and refused to
admit Russell Smith, the contestant, to the same
seat. The election of Snow was effected after o
session which lasted from II o'clock Q. m to {
o'clock next morning There has been nothing
said about the Maine law since > but it is posi-
be that Snow may yet get into his seat, if the
Wings should chance to got a working majority
by the absence, accidentally or otherwise of
Democratic members. The Senate is now equally
divided i'll parties, and the House likewise ex-
cept that there is one independent member, Col
Munroe, formerly in Congress- who votes just
as the spirit moves.
1t has been estimated that the annual cost Of
maintaining our city government exceeds that CT
the governments of the -i1 New Eng and State4,
legislatures and all Among the items for the
last two months in the contingent expenses Of
the Common Council is one of 81 ,053.S for
eating, drinking and smoking, (S248 for cigars y
or at The rate of over So 900 per anuum of which
some 81, 500 goes for cigars; and this, besides a
per diem of 81, or about $500 per annum to each
member. And yet everybody scolds and grumbles
over the taxes and the rascally corporation, but
that is ali: We must grin and bear it, since we
are doomed to be the prey of one or the other OF
the two political parties Discard politics from
your municipal elections, and let that man bc
anathametiZcd with black marks who dares tc
mention it in counexion with any candidate.
! Tho river is expected 10 break up every
moment. CIvfg