The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-04-21
FINANCIAL AND COMMERCIAL.
NJ 10 N E 7 MARK NT .

SUNDAY, April 20-5 p N.
The stock market has not changed much during the
past week With than the usual activity, prices for
most OF the leading securities have gradually appes-
cised and there appears to be amidst the large spscua
tive purchases q steady absorption of the most prom
nent dividend paying descriptions. The market value OF
the better class Of stocks is at this moment considerably
in advance of that ruling at the time last year and
is well known that In July aud August last most of the
Western railroad stocks ruled ten per cent above current
quotations We at least month six weeks ahead
oast year. and there therefore every probability that
prices will rule In June this year. high in August
last year. Every dividend paying stock the list Is
really worth thu it them an should
mand as much In the market Then the principal na-
tons of Europe were engaged in which threatened
to last for yeArs-now prevails and capital and
industry will soon become active again; while ali
the channels of commerce having been c!esred from
unnatural distractions, viii move along more freely
Money which ct that time required TO furrsh the
snews of war; will b employed in developing ali the
elements Of peace Every branch Of industry will receive
additional force, and consumption viii increase with pro-
duetior. Within our own limits there il nothing to
complain Of but, the contrary everything In very
favorable condition. Inc country is foil OF wealth. and
well directed enterprise is find adequate reward
There indicate of wild speculation. Prises or
all the necessares of life rule at ing prices and
At the tins within the OF ALL There
evidences OF extravaganza and credit has not been
pushed to dangerous limits The commercial classes find
debts due prom pity paid and all the ramiAcsons of
trade in . sound and healthy condition. With the
increase in population and production all works OF in
terna Improvement judiciousy located must
investments and those who among the earliest pur
cbasers will realize rich returns cost With the in
Of capital must look for lower rates and
moderate profits. 1t will be long time before we have
plehora capital but have idea that will
again rule high in this country In times past
We have, 1t is true, immense country to Develops
but railroad stem has been carried to greater
extent during the past ten years than will be reAizsd
within tie next thirty. We shall build many
miles of road, spend much money these works,
within the next forty years have during the past
ten The in operation will therefore have .
chance to strengthen themselves and become ssaos nad
a permanent basis The increase in railroads
must for the future be very gradual AMI those In
existence we'll lccsted must under proper management
prove productive investments. We have gone 50
rapidly creating raj roads building upon borrowed cspi
tai and paying enormous prices for T., that II s time
there pause, to let the actual business wants Of
the country approach existing facilities With
the exception perhaps of Wisconsin, every Northern aud
Western State this side of the Mississippi river has sJs
Of railroads equal in extent 70 their natural wants
Tot the next twenty years. AT INC OK pIsAou oi bnhI
time there will very little necessity for new road in
any direction, and the cd roads will be In much more
prosperous condition than at present We could not
well dispense with any raiho,d in existence;
but pushed their construction too fast
We got far ahead of the country wan and require
time to equaze them This fact have i'm portant
influence upon our supply Of capital As money a,cumu-
lates It must find employment Railroads win not ab-
sorb il, and other methods must be devised. The soil
msy eau into active capital than heretofore.
City improve nents may employ large amounts OF mo
ney The manufacturing and mechanical arts may
tract larger investments and business generally may take
M full SHARE but beyond all the Ordinary means OF
consumption there win be- without doubt, accumua.
on and the ulation must tend to reduction 90
It's market value All the production Of Australia and
California w under the benign influence OF peace and
prosperity flow into and through natural cbanns and
thus form basis for safe and legitimate credits ten
times in extent beyond the actual gold and silver put
upon the market We must look for lower rates of
rest On this side OF the Atlantic Az the effects
Of the war in Europe have disappeared and matters get
settled down again into proper places We shs begin to
feel the effect Of adding hundred million Of dollars
nuay TO the specie basis of the currency Of the world
and In short time realize its immense influence upon
fms ncal affairs.
For three four days the money market has harden
ed little The supply has been full, aud no scarcity hiss