The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-11-05
FINANCIAL AND COMMERCIAL
MON E Y NJ r X e T.

SUNDAY, Nov. As P. NJ.
The Balics advices received early yesterday morning.
caused grcs' deal Of CONSERVATION among fnanciers Of
all sdes Those BY the previous steamer had
thoroughly digested and the impress ION was daily
gaining ground among the most sanguiue por ton of the
community that few days would all yes iges OF
The panic, that the 1t 1t. would bring
able acvces and that speculation would in full
operation again. How disappointed they been snd
Low superficial must have been their know dge of tn.
eject Of war upon public and private credit and upon tie
movements OF comniercel The wish with them was nj,
doubt father to the thought and with their dspos
lion 10 look upon the bright side of things they have
been led deeper into difficulties.
The os lon OF financial affairs in Europe is one calcu
lated to utterly de,toy all pubic private confidence
The war IL short lived, temporary matter The
PRODUCING the present panic have been operating for
lcrs time, and The effect is likely be of s greater
duration. For more than twelve months the pubi.
mind lulled with feeling Of securty-with the be lei
lst ,opg the direct operations commerce nu of
industry interrupted BY the progress OF The war
no important Interest would suffer, and derBngement
in financial afairs would This imp ession wa
Tor time conf med and there indications Of
changes Of vital equence The commercial elias es
began to look upon the matter Of portance
and speculation went usual. The attack upon So
oasopol watched with the greatest interest ami the
capture Of that fortress was looked TO as the
core Of the and the establish ment of peace
nron secure and permanent foundation. The leng h
Of The regulated in England ard Fran;e
by the ieng'h Of the struggle in the Csimea and
all financial calculate MS both the part Of the Allies
and individuals were based upon tina. sings point.
Loans 1t that tmc and in anticipation of such
result easily and avoraby nesoa,ed paeic creli,
manned nimpared. Up TO the 'all Of sebastapo the
most buoyant feeling existed In the mnds business
men, not only in England and France, this side
of the Atlantic. The Gala Of sebastopo braugat with II
eIy different state of affairs in tie financial world The
rapfercd by that froa he Cmea to the
hanks Of England an France The sstory OF the Allies
al Sebastopo will result in defc u a. The Stock Ex-
change and the Boursc. The peror Of Russia naying
the time failed with his and shell has fallen
psrk upon Of warfare in which he will not ony
the field selected for action prove vic orou hat
he will carry destruction and desoai hi. enemys
ranks the effects Of which vii not be removed for years
II isl very extraordinary fact that suce tie
cay of the announcement that the Aue had captured
sthastcpol pub securities have been deprecatng
he drain Of gold carried with violence than at
any time previous. We only for this from
be fact that since that victory II has become settled ia
the public mind that the has but just begun The
governments and the people Of Great Britain and France
have for the frs. time since ho.ttes commenced be-
~ me convinced mat the War IL destined TO q
ofraced one; and the moment thas conviction became
fixed active boarding or specie commenced so long
the hope Of speeoy peace entertain the lover
and midclc classes forward freely and loaned their
money to the government; but hat cue can see
he sndnow that negotiations have ,sed and seoa
pol has faleBnaw that there Is thing point 10 but
the hardest fighting and the expensive campaigns
no hope but TO force peace most enormous sacrifices
the people have longer any faith In paper promises
10 psy, and believe In nothing but COLT: and gold
they are securing. We DOUBT IL the government OF
france win attempt the negotiation Of another loan up
IN the system thu far prsctised. II look
he great capitalists and money will not be hereafter
easily raised The has al eady ouiased public ia
vor and the public win longer aid IL with their pi
vate The Bank Of England and the Bank Of
France have most difficult game TO play the future
We have ubt great sacrifices will be made TO avoid
Suspension OF specie payments particularly by the for
uer bur IL the continues, such result cannot ba
NJ oded Il IL inevitable Notifications may be made IN
h. banking act 70 immsdistc enc rgcaces but
tey will only pois,e not rcmeve the dcul,y Hoard.
ng the great cause OF the present draa aud that q
iieiy to and extend, instead Of diminish A
ain twenty millions q dollars in one monh from the
w. most importan; banking Institutions l. TOO ouinoa.
ign 81 arrangement and distruw TO be psssed over
lie Pant Of France may give way arst to aid the Bank
England but ultaateiy both mus, stand on the sane
asis.
The exports 81 specie from this port during the past
week, we've as folows'-