The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-06-02
CONNER CIAL AFFAIRS
N O N e Y NJ Ar K e r.

We have nothing TO report in the stock market.
The street dun this morning, and prcos were with
difficulty sustained At the frs. board. Erie Income
Ponds advanced per cent; Indiana state SIS i; Erie
Bonds 1871 a; Florence and Keyport, u; Eric RR hi
Harlem, ri Erie Bonds 1862 and Nicaragua, declined i
per cent each At present. speculation is Inactive and
there indications Of duh market for tme but it
appears though prices would not give way much
So much difficulty is daily experienced in making good
investments Of money, the holders OF stocks dare no,
SELL fearful that employment for the proceeds equally
productive cannot be found Railroad other securi-
ties paying six, eight and ten per cent per annum
give much better returns than anything else there
il, therefore, object in changing such investments
On the contrary. there many why holders
should retain possession of such securities There
very little doubt but that money will gradually bu
steadily deprccate in value in this country and that
there win be greater uniformity in the rates OF interest
in the United States and those railing in Europe The
value here is likely to be reduced than the value
abroad to advance This must be considered fixed
fact Within the past twelve months have made
rapid strides towards such result and California and
Australia turn out as much gold dust anticipated
during the next two three years find the value
81 money in this country most materially reduced. In
England capital goesa begging for employment at
and two cent per annun. In Wall street the current
rates range from three to five per cent and large
~
stock securities paying six, eight, ten per per
ann,n, must money decreases IN value advance in
prices Such investments will before the lapse of many
months be sought after ard difficult get prices con
sderuhly in advance q those current This is
70 be the result of tho rapid accumulation of capital in
this county. Money is pouring in upon from every
quarter. The sale Of prominent stocks in
Europe and their resistance by every packet. ana the
large monthly receipts of gold dust from California
mrst ultimately have very favorable influence upon
the country At large in developing lis OPEN
ing avenues for trade ana A few years
We were comparatively restricted in ous internal
nications lhc construction Of railroads canals steam
ships and clipper ships, has progressed with wonderful
rapidly and there hardly section OF the Union which
is not accessible by the most speedy and economical
,cyance This has concentrated the country rather
brought all parts each other and given greater
activity to all branches Of industry We hie
city the vegetable products Of the extreme South and
West; manufacturers hud markets in all parts Of The
world time and distance much reduced by the i'm
Of the past three years that the
regions brought closely TO MOS. important
scapors All this has within such brief space of tim
been accomplished by enterprise and capital But for the
enormous production Of gold in California, we should
have been years behind the present age With the |
product Of California and Australia shall rapidly
extend our internal improvements, add largely an
TO our commercial marine and ultimately reach
but with most gigantic strides, that position in the rank
Of nations which destiny marked for 10 Our pro-
grcss has merely been hastcned by the aid derived
the mineral wealth Of California Nothing but the
means have been required to accelerate onward
course We have felt very much the want Of capital;
and It is only within the past year two that have
had the TO ont portion of desires
without enormous mutations Of credit both public and
private, upon the poorest " all foundations paper and
almost an annual rcvulsion in the money market Our
finances upon better basis. Gold and silver |
enter extensively into general circulation and
the currency is longer subject those sudden
disastrous fluctuations frequently experienced W.
may with all these advantages. meet With occssonsl
checks but the financial and commercial,
in healthy state the effect will be mcderate
and the recovery more rapid.
We may be mistaken in all cMoulstions;r an
predictions but i: certainly appears in Wow Of
movements now going on in the money markets of En-
rope and this country, shat certain descriptions q stock
securities must appreciate. perhaps raply bIs per
manenty stocks depending FOR upoa the
the age upon the progress Q. H. oouaty
world large, must ultimately hcconr 'u.v -
ductivc Foreign capitalists will absorb al b,.t
rites as fast Their value T developed; sud y
afford in consequence q the reduced y4lnc n in
London. &c pay high premiums for stools paying Il ii
ra;es Of interest We cannct re,is1 hc mprcss, th
certain classes Of investments will ultimately comZad
prices fifty per cont n least, above those ccyran
We have great faith in certain kinds q mineral stock,
ard believe that greater fortunes will bc nadn IN thc
United States developing mineral ;han
have been made in Great Britain We have largely II.
ycopc6 nearly everything else in this country bat
enormous mineral wealth. and the public mind has for |
some time past been attracted 70 r.s great interest.
There probably ohcr country in tho world rossa's
inc such valuable minerals ;hs AM ths ir. Is,
arrived for paking ava'a,c this important 'icmp..4 =
psolrity.
Tho receipt At ito onice II IT,, ..is,eu q y:
this uort. to dry, aL.oun;cd TO SHIT -; paya us
SIS no it, balance. ~ SIS ~ -
The ofical ,alue Il impcr;. inac aad ,s.r,s frI'
is Port during The icn:h q May 10 each cr -- -.
Two years. was sTroyce.-
Ccs.srHcr ~ THE rorr ~ Nen YctS--I .f.hss tNp
IUcE1s ron NAV, 1851 tyr 49,
ysgorss.