The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-04-10
FINANCIAL AND COMMERCIAL.
MON EY MARX EFT,


MONEY MARKET.
SUNDAY, April a-eP.M
The news from Europe, received by the steamship Eu
ropa is not calculated help financial and commercial
matters much this side Of the Atlantic The effect of
the hostile movements going In every part of Europe
was just beginning to show ITSELF and must look for
panics and excements such have been realized
within the past thirty years No ntcipate the
ultimate effect Of the operations progressing through
out the Old World. For . long time the public mind,
both In this country and in Europe rested in quiet and
apparent security amidst the negotiations and it was the
hope and belief Of nearly every that general war
would be avoided Financial and commercial operations
were therefore carried usual and credits were
tended with full confidence in favorable and profitable
result. As negotiations proceeded it became more ap-
parent that difcuties of very grave character
daily sprnging up and the probabilities Of an Interrupt
ton in the peace Of the world were daily increasing
Notwithstanding all these Indications the hope was en-
tertained that some alternative would arise, some
way be devised to avoid disturbing the existing peaceful
relations The market value of public securities
was therefore sustained specuatons in breastus con-
nued and quotations for cotton fuctuated only to about
the usual extent. On this side Of the water different
state Of things existed Every steamer from Europe was
looked for with the greatest anxiety and from the ex
elements produced in local markets from time to
time by foreign advices il appeared though we were
more directly and concerned in the matters at
issue between England, France and Russia than .he
people of those countries Quotations for stocks bread
stus and cotton would suddenly rise fall the pros
poets of war were good bad aud our markets were
kept continually agtated This state of things was the
more extraordinary from the fact that on the other side
financial and commercial matters were moving along
steadily, without any unusual fluctuations. The con.
trast was very great and must have appeared abb
surd. change has now come things in England.
Panics have occurred in the money markets Of London
and Paris and the markets generally have become as
much depressed and stagnant in this country Con-
soils have fallen of rapidly breadstus have declined and
the demand much reduced and cotton has become dull
heavy article of trade We however yet in advance
of England in the effect Of the panics When consos
have fallen one per cent Of frat class stocks
have fallen from three to ve ali account Of the war
in Turkey Now appears to us that just the reverse
of this should have been the effect The fact that
our stocks are held by spectators who have moderate
MEANS very little nerve and very little knowledge Of the
operation OF cause and effect They buy day and
sell another without good for doing one or
the other and it is therefore to be hoped that the
puff Of wind from unlocked for direction will capsize
their frail and poorly ballasted craft In times like
these the shrswd seeing capitalists step in and select
such securities have substantial value which are un
unwarrantably deprecated They who keep aloof from
the market in times of excitement with the means to
during such foolish pancs have recently been
SO prevalent, will make money in two opera.
tons than all the rash bull and bear SPECTATORS in Wall
street On the other side Of the Atlantic the market
value Of stock securities seader and slower one
way or the other Prices not sensitive and are
not affected by such slight There no doubt but
that our markets have been operated upon too power
fully BY the European advices which have lately come
to hand and it is our impression that few days will
suffice to bring about the second sober thought and
create favorable change in the complexion of the stock
market Everything that possibly occur in Europe
affecting commercial affairs, has been anticipated and
the effect already realized. The actual common cement
of hostilities and land would not have given
good cause for such depreciation in stocks a. We have
experienced and it is question if both Of the fleets in
the Baltic should, like the Kilkenny cats annhate each
other II would not have favorable influence the price
and effect in stock speculaons that we are never
surprised at anything however contradictory.
Quotations for stocks at the close Of the market
yesterday compared with those ruling the close of tho
previous week. show decline in nearly every one on the
list Money continued moderately easy. There is .
good supply and an active demand The banks not
expanding contracting, but preserve uniform
ment in the face Of quite increase in the offerings
discount Call loans are avoided. The brokers are
afraid to touch them.
The expectation of specie from this port last week was
unusually large, win be by the annexed state
Orxc~ NJ