The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-01-22
hvANcIAL AND CONNER cIAL,
NJ ON EY MARKET.

HONEY MARK EFT.
SUNDAY, Jan. 2l-6P.
The week just closed has been rather quiet one
financial and commercial affairs. We have had
now failure to record among our business men,
pa tne reports which have reached us by telegraph
suspensions In other cities, have not had much ef-
CO. ana nave apparently soon passed away from
70 public mind. 1t is our opinion that we shall
'ntinue to receive for some weeks reports of fail
res from the South and West, from the East, and
oubsess within our own limits. The revalsion
ould not, otherwise, run its natural course, and
20 danger Of relapse some time hence would be
lueh greater. It is necessary that these insovent
pncerns should all be brought OUT and that credits
ould be sufcier tly contacted to compel all those
no have no other basis to break, and leave more
pem for those who have done business legitimately
pom actual paid in capital. We are In fair way
closing up those houses which have been specu.
ting in all the bubbles Of the day, and have exist
for long time upon the credit Of former days
Is absolutely necessary that occasi ,nally
evulsicn should occur to purify the commercial
atmosphere, and to preserve the masses in healthy
onditioD. few years Of speculation leads al
lasees into all sorts Of extravaganza, not only in
ubic expenditures, but in Individual expenses, in
lases credits, and creates in every department OF
sde an artificial state Of things. Prosperity may
ppear abundant and permanent. Activity may
Perysde every branch OF industry, high wages may
ale tor any description Of labor and ali the evil
ences Of growing wealth and strength appear sound
Nd substantial; but We know such is not the fact
We know that under the surface of all this bright ex
eiior the seeds OF dissolution are eDgendering; that
he elemt nts Of decay and disruption are at work,
eady TO buIst and spread desolation and despair
bere short time before all was sunshine and con-
dence. The extent Of the convulsion Ia galated
BY the length of time the causes have been OF
rating, and the nature OF these causes. Fortunately
Fhe specuations Of the past four five yesrs-those
which have been the direct cause Of the present
oaYlasements ana bankruptcies were confined to the
construction of public works of vast importance TO
Me country as large, to the expenditure Of vast
Iums Of money in opening communications with
new and remote sections, and giving . wider field
md better scope TO, the agricultural industry Of the
West. These works still remain, and are Of immense
alue In developing internal resources; but the
gspidity with which they were created, and
Inc enormous system OF credit built up for
NE purpose Of aiding in their construction, were
700 much for the basis upon which 1t rested and the
entire fabric tumbed down with q sh ,ck that shook
NE very foundation Of this great interest Of the
country. For time the emba -rassments Of several
sf the leading railroad lines threatened to plunge
pbsm into all the horrors Of bankruptcy. By sharp
Dancieripg az forbearance Of creditors they have
been temporarily relieved, and it depsnds upon fu
lure management whether simlae scenes and difficult
ies may not again occur. This railroad mania was
carried on go long, snd TO such an ex ent, thst few
individuals Of means escaped. All were more or
Sxvs uh, FAIL ox <bas-
depth have been swallowed up In the general de-
huge. There are many still struggling amidst the
wreck Of matter and the depreciation of railroad
cutities, etching ct straws; but fear they
not keep their heads above water much longer. I'm.
It'll all the victims have been sacra ced until the
community 10 released from the pressure frsm such
10 source-it win be useless to look for permanent
relief. We may have periods Of apparent ease-for
b time the strirgency may bs reduced-but II the
very germs Of the disease are not thoroughly ersdi
estkd 1t will return in full force and bring with 1t
all Il Q dangers Of relapse.
There III o decided improvement in the money
market. The supply Of capital corresponds more
with the demand, and rates are gradually giving
way The accumulation of specie compels the
banks to extend their loans, either on call or for
short business paper, and there Is evidently more
eass among all classes. From Europe the advices
continue favorable but so long the continues
there will be danger of sudden and dissgreeaole
char ges. The relief in our local money matters
should not induce expansion, for we know NOS the
moment when another contraction may commence.
The amount Of spe che exported from this district
last week was $1S,sl5 81. Total since January l,
45s,5S1 81.
Mr.. Albert II. Nicolay's regular semi weekly auc-
ton sale Of stocks and bonds will take place to
row, (Monday) the ed inst, at III O'Clock, at the
Merchants Exchange.
The gross income and expenditures Of the Western
Railroad Company Of Massachusetts,, for the past
WnsrERS RAILROAD, MASS.
Total Earniags Expenses. Net lnconss
1862. 626,223 $77S4S7 $745,736
1864. ...... 1,763,944 1,o45,A1 7lS,7o3
those Of 1863 10 owing to the high cost Of materials
and labor and the largo amount Of renewals Of rails
he fuel Of 1854 cost $4,000 more than in 1863,
owing both 10 increased price and increased amount
used. There were $l2l 900 spent in 1854 for the
renewal Of rails, against $4,000 in 1853. The no
oessary expenditure by cars new and repairs Of DID,
N 1864, was $50. 600 In advance OF 1853. The ex
cess Of expenditure in the locomotive department
was also about $4,000.
The condition Of the leading departments Of the
banks Of South Caroline on the 30sh December,
1854, was - annexed
BANKS OF SourH CAROLINA.
N c,sus a r., aes ssa sss VS. .s5 ass
5 %: esSssa a% ;'. 30 30 80 ssi is,sss
ssis sso os sssss isssss
Union, Charleston 1sl, SIS 2,5l4 GIT 573 204,s21