The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-10
FINANCIAL AND COMMERC GAL.



SUNDAY, March 9-6 p. NJ.
The stock market during the past week has been
without much change. The tendency of prices, az
general thing, has been downward. but the fuc-
tuations have been such to leave little difference
compared with those current at the close of last
week. During the week the operations were limit
ed. There is no disposition to operate on the part
of outsiders, and speculation for the time is dor
mant. The public mind appears to be affected by
some vague apprehension, but no one seems able to
find out any thing real 1t is the opinion of nearly
verybody that peace will be established in Europe,
and that our difficulties with England will be amic
ably arranged; and yet no one appears disposed to
operate in the stock market in anticipation Of such
results. 1t is the general impression that inter-
nal affairs are in sound and prosperous condition,
and that the people at large are engaged in remu-
nerative pursuits, Notwithstanding which we find no
disposition on the part of capitalists and others to
engage in any new enterprise Of importance.
There appears to be more Of desire to re
main quiet and carefully watch the progress
Of events, than to enter at once into the arena
of speculation, and give life and activity to all sort
of enterprise. Caution, amounting to timidity, ap
pears to be the order Of the day. and mastery in
activity the policy of those who have anything to
lose. There is, in this state of things conserya.
tive element we rather approve Of. 1t guarantees
greater permanency and soidity In present pros
derity gives greater strength to all our local inte
rests consolidates public and private credit, aids
ard acceerates the accumulation of capital, keeps
enterprise within proper limits, checks speculation
and gives better basis for prices, and acts val
liable regulator and corrector of all abuses in nan
cia and commercial affairs, which, in country like
this, cannot but be attended with most desirable and
important results. We have no fears that our pro-
gress will not under any circumstances, be rapid
enough. The great danger is the other extreme
Anything that tends to check and curb the reckless
propensties of SPECTATORS to restrain and restrict
public and private credit, to prevent over-tradng
and extnvagance in commercial affairs must be
looked upon as element of safety, and should he
judiciously encouraged by the community at large.
We therefore have no fault to find with the pre-
sent feeling in the public mind. The effect
cannot he injurious, and let us hope that at the
proper time when the political horizon is clearer
than at present, shall be in better condition to
push forward, with our concentrated and CONSOLE
dated energies. the numerous works of improve
ment more or less connected with the great int.
rests of the country. The past twenty years have
worked wonderful changes in the minds Of the com
mercial classes. They have learned by bitter ex-
pelience, the folly of rushing headlong into the
widest speculations They have found the truth Of
the old adage that more haste is less speed and
now more content to accumulate fortunes more
gradually. 1t will be long time, we hope, before
the lessons Of 1887 and 1S41 are forgotten and
wheAwe see the public moving cautiously in all its
business operations, confidence in the future is
strengthened, and all fears of sudden expansions
and collapses disappear. This country has now
reached such point in financial and commercial
wealth that we can afford to be more circumspect
and more cautious in our movements. Our internal
resources have heretofore been 80 rapidly developed
and our population has been spread over such vast
extent Of territory, we have been compelled to
extend our works Of internal communication hun
dreds and hundreds Of miles to reach our extreme
limits through sparsey populated sections, without
the hope Of immediate returns, involving an expen-
| diture of millions upon millions, that it is
! time to pause and look more to the filing
| up and filing in of States, already covered
! with railroads. than to the extenti0n into new
territories, and the expenditure Of capital on
projects which will be in time twenty years hence.
We must look more to the consolidation of existing
important interests than to the developement Of
new ones. We must concentrate our capital and
energies upon present limits First give that its
proper development, and then, as we accumulate
money, look further ahead and spread ourselves as
in times past.
The outward movement of specie was quite active
ment-