The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-20
FINANCIAL AND COMMERCIAL.


FRIDAY, Oct. 1a-6P. NJ.
The stock market was considerably depressed this
morning Tho effect OF the Atantics quite visi.
BILE to-day, and may expect to il working gradu.
ally from this time forward The position OF financial
affairs throughout Europe anything but satisfactory,
and the truth Of remarks relative TO the ultimate e
fects Of the war; w before the lapse OF many mouths
be realized. The enormous production Of breadstuns
and the demand for consumption existing the other
side Of the Atlantic, may, for time, prevent any dsa
trous results, but it 'only be posponement the
evil day can only be put off, We must take part in
the great financial struggle which Is Just commencing
among those nations directly engaged but II may
not be this year within the next six months As
the war continues must be drawn into the great
maelstrom Of financial and commercial revulsion II
may be well not to lose time in preparing for the contest
which the commercial nations of Europe are already
gagged in Measures have already been adopted France
to secure supply OF gold at any cost, and the Bank
Of England cannot look indiaerently and zee
Its bullion drawn away II rapid advance the rate
ofnterest will not arrest the outward current some
thing more stringent must be done. For the moment
supplies Of specie from this side have become much
dnced and this will only increase the difficulty in Eng
land. II possible that the governments Of both Great
Britain and France may look to us for gold and buy Il
here ut any price.
Trade may, for the present, req ure specie shin.
ments ms would prevent an accumulation In
kes, but in view Of the causes at work throughout
Europe any increase in specie basis should not 10
used for the promotion Of speculation, for an expan
sion Of business In any shape. We should by contrac
ton, endeavor to weaken much possible the force
and strength OF the approaching crisis We can in q
great degree neutralze operation we are induced
TO expand our credit system because large exporta
tons OF breadstus are for the time going on without
looking at the effect European customers Of a
drain Of their resources by the expense Of war on one
side and short crops on the other shall feel seriously
the reaction and lose ten fold more than we can gain by
the unusual demand for breadstuIs. There Is
nothing to complain Of in the present position Of our
internal Affairs, and II Is therefore most important
that we should, by sound and legitimate course Of
action prepare ourselves for the time trial must
surely come. An escape Is utterly, entirely out Of the
question. II would be dangerous to believe otherwise
We should not be uled into feeling security by the
existing quiet in affairs, by the numerous evil
dences of prosperity which meet all sides II Is in
our power TO preserve in great degree this prosperity
but II only be done by strictly combining opera
tons both financial and commercial not only to the
most moderate limits but to those OF the most subtan
tial character.
The earnings Cf the Chicago and Rock Island Railroad
for the week ending October H. are as follows -