Daily American organ. [volume] (Washington, D.C.) 1854-1856, 1856-07-31
correspondence.
New York, July 40, Is,

New York, July 40, 1855.
Notwithstanding the duh season, tho banks OF
this city are still expanding their business to an
alarming extent. The increase in the loans and
discounts last week, over the previous, was about
half million of dollars, making the grand total
$Ill, 846,569. The contraction must come sooner
or later as il is not possible this state Of things
can continue much longer When it does come,
there will be crash which will shake New York
to its very centre, and must, necessarily be much
more disastrous than the great suspension OF our
merchants in 1887. Still, importations ut this port
are ON the increase, and last week the amount ex-
ceeded, by about 81, 5000 in dry goods alone,
that for the corresponding week in 1858. Specie
has been reduced, making the total in the bank
vaults less than 0o,000--s very low figure
truly, being smaller than at any time since the
oath of May last. | think the time has arrived
for cautious movements, and merchants will do well
to bear this advice in mind.
am glad to learn that the accident which hap
pened to w. f. Burton, comedian, the other day,
ia not go serious at first supposed, and he will
be able to appear on the boards at Niblos in the
course of the coming week. In fact, his recovery
has been very rapid. This will be good news TO
his many friends throughout the country.
have spent little time within few days past
In the towns of Westchester county, and find the
country suffering extremely for the want OF rain.
For distance Of about thirty miles north OF this
city there has been no rain for near three weeks,
while in the town Of Peekskill, forty miles up the
river, and north Of there, copious showers have
fallen which have kept the soil sufficiently moist
for the growing crops. Owing to the backward
spring and this dry SPELL corn and potatoes win be
total failure in this vicinity unless we have rain
very soon Fruit also, will be very short Peaches
particularly so, while the apple crop will not be
half the usual yield. Pasturing having failed, the
price of butter is going up, and all vegetables
extravagantly high, making 1t next to impossible
for the poor TO indulge their palate with anything
but potatoes Tomatoes are selling at two shilings
per quart
The above was written at nm early hour this
morning. At about o'clock rain began to fall,
but not in sufficient quantity to do much good to
the parcbed earth. The weather still continues
up TO almost boiling heat and Mr.. Merriam, the
weather-wise man, says we have not had such q
heated term" in sixty weight years. 81
collision occurred in the Bay this morning,
which caused much excitement for the moment
The Staten leland ferry boat, Huguenot, came in
contact With steam-tug, of the Battery but as
both boats were going at slow rate no serious
damage was done. The accident 1t is said was
caused by the careessness Of the captain OF the
Huguenot.
In the literary world there is nothing particu.
lsrly new. Mrs Stephens New Monthly Maya.
dns for August is out, and is a most excellent
number In fact the circulation Of this magazine
has far exceeded the expectations Of the publisher.
But this 10 not to be wondered at since Il is known
that Mrs. Stephens has written several Of the most
popular novels Of the day. and her entire attention
Ia DOW given 70 this periodical. II is a mystery
how the work can be afforded at so low price,
ia l-2 cants) as il is handsomely Illustrated.
0McRos.