Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1853-06-03
Stocks and MONEY!.

A very heavy failure in a Water Street
house was rumored in the street to-day.
The matter was mentioned so freely as to
leave. little doubt of its correctness. 1t is
fact to which no man should shut his
eyes, that We are getting deeper and deeper
in debt every day. London has for long
time been deluged with American bonds,
and the time seems to have almost arrived
when even tLat bottomless pit Of wealth
can hold no more.
The tide must return, if it is not already
returning; and as soon as the moment ar
rives, when not only no more bonds will
be received in payment of our importations,
but when the interest on those taken must
90 forward to increase the drain, then may
we look out for such pressure, with its
consequences, in the money market, as We
have not seen, since California began to be
known on Change. The London Times
says that the pressure fol money is undi-
minishcd, and names three per cent. as the
rate for advances on Government securities.
The discount houses gave notice on the
18th of an increase in their allowances for
money on call to % per cent, being an
advance of per cent.
This fact is sufficiently significant, in
connection with others, to excite serious
attention. Why, in a state of general
peace, with gold pouring in from Australia
and California, should "pressure for money
! be undiminished p The London D. News
says: "At present the all-important prob
lem for solution is the question as to the
future course of the money market, pend.
ing the arrival of the gold produce Of
Australia, and the question is rendered
more than ordinarily interesting owing to
the financial operations now being carried
out by the government. So far the conver
sion scheme has certainly been impeded by
the tightness Of the money market, and
operations in all descriptions Of securities
are circumscribed by the prevalent uncer
tainty. This is a somewhat remarkable
state of things in view Of the fact that
trade was never so active or remunerative
as now, the revenue so aourishing, or the
general prosperity ofthe nation so evident.
The return of the Bank of France, fol
the month ending 18th May, has beer
published. The chief features in this re
turn are the decrease in the discounts, and
the decrease in the coin and bullion, both
tending to show stagnant state of trade
Notwithstanding the artificial stimulus i'm
parted by the Government. The railway
share speculation, which has now reached
such height in Paris, is shown to be still
bolstered up by the Bank. The tendency
of the operations Of tie other banks latel,
established is also in the same direction.
Quere.-Are not the railway project.
everywhere, but especially in the United
States, at the bottom Of " the all importan
problem" to which the Daily News refers
"Thc private letters by the franklin
speak of a moderate business in American
securities. There were too many new
schemes pressed upon the attention o.
London capitalists; and one letter from 3
leading banking house states distinctly
that any person coming to London from
America, with new railroad loan for ne
gotiation, would meet with disappoint
ment. .''-Ihila. Register, Nay 30M.
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