The Portsmouth inquirer. [volume] (Portsmouth, O. [Ohio]) 1849-1855, 1852-03-26

Weextfaet the following from The weekly
commercial summary Of the Evening POST:
The abundance Of money has lowered the
rates of interest to per cent Sixty Day
prime paper can now be discounted al 81 per
cent, and good paper, three 10 four months.
at per cent. Even long dated paper can be-
negotiated ate and z per cent, and call loans
at per cent. There are, moreover, instan-
ces Of lower rates than these being accented.
The abundance Of money, Or rather tbe
prospect Of still greater abundance from The
stoppage Of gold shipments, inspire some.
alarm in monetury circles, lest speculations
OF anmwholesome kind be indulged in
Nothing of this kind appears at present.
On the contrary here, as in England. there
is a remarkable absence of speculation along
with supenbundance Of means. In The
two leading articles of commerce, cotton and
breadstuffs, the demand for consumption is
very large, while for speculation in either,
no desire exists. Arrivals there and receipts
here are realised at once, thus moderating the
advance in prices, which is inevitable.
With respect TO our breadstuHs, there pre-
walls an opinion in Liverpool that they will
receive very large supplies from this country
in the next six weeks but in which they will
be disappointed, as there is no stock here, and
the scarcity Of ships prevents shipments
thus preventing any very large export till
May, when the canal opens, and which can
not arrive in Europe before June or July
Prices are, therefore, likely, 10 rise in Liver
pool very seriously without the aid Of a Corn
law. Should there arise any prospect of a
fixed duty on corn being imposed in England,
our exports will be very large for the pur-
pose Of boarding.
The shipments of cottoE are telling on the
money market effectually, supplying amount
of exchange on Europe, and lowering rates.
In February Of 1851, the lowest rate Of ster-
ling exchange was reached, which this year
was not reached before the present month.
1t does not seem at all probable that any
gold will be shipped for at least month
Heavy shipments of cotton have yet to take
place, and until The bulk of the crop is sent
forward, we look for no resumption Of gold
shipments.
The Havre steamer sailing to-day, takes
$l50,000 in silver, 100000 Of which is in
five franc pieces, and Mexican dollars, and
the balance in American half dollars.
The proposition for new silver currency
is looked upon with favor. Silver dollars
have long been out OF circulation none have
| been coined for long while, and it is folly
to coin what is more valuable as commo-'
dity for export than for circulation. The
present currency for half dollars will soon
cease to be; for though silver has fallen in
value in England, it is dearer generally in Eu-
rope than here.
Monetary prospects appear clear until the
fall. What may then be the condition of
the market, it is impossible to foresee 1t is
shrouded in mist at any rate our exports will
be light, and il is possible that heavy fall i'm
ports may balance their present lightness
thus causing large exports Of gold. We do
not therefore anticipate an easy money mar
ket at that time; rather the reverse, as con-
trariee beget contraries; but in the mean
while, an extraordinary abundance Of money
is likely to prevail-especially about the dog
days.
The chief feature of The week has been the
great demand for our bonds and stocks on
European account, Government stocks wes-
tern railroad stocks and bonds, as well assiate.
stocks, have been taken for Europe in large
amounts.
This foreign demand has been The mainstay
Of onr stock market, for there is little do
mestic speculation though fairsnd constant
demand is constantly operating for invest
ment. The foreign demand is also for per-
manent investment.
A very large amount Of European capital is
also in The market for temporary investments.
The bank deposits are increasing, and neither
the banks or bankers can find full employ
meni for their funds. and large sums are dali
| ly left over, losing interest. Thus the ten.
dency TO further decline in the interest of
money is irresistibly strong.