The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-07-14

hsoeen selling here for lsss than cost OF nporAion
andhas he time could far distant when furtoer
sAnenss would be perhaps, not suspended but greatly
:Ssd and they accordingly bonsns .,s 20 p 1
salsr have rssped the full benefit Of they have sold
emit MAJ ket here had 70 take care or ITSELF
md has Yeuograded because some parties OF limited
nd failing an S S1 pso goods had
1a FOR , SssA' .I:n s s:S' ssy
s. Ct time. The ,obbsrs here have pursued the same
%s nss1 q hand when the stock Of sugars Win be
largely augmented BY shipments from abroad. Such IN
= w Ss s. ON Ss
cry, and there seems certainty, although u s not na
probable that the imports win be large during the remain
- prons on sugar, and not going 70 divide the stock with
. again until the Investment promises speculative prodt
ey nor country iosser Win touch more than
weeks supply Hence II must be evident that with the
whole trade Of the country virtually battling inst the
prices for sugar those values only maintained
BY the unbendng nrmness and strength of each individual
soaoer The Same line Of remark applicable 10 rice
= small a. had ever been Suown~was. with
,ut reservation, completely controlled by speculaiors
and ct, with palpaby diminishing supply, the msrke!
declined In suite Of their utmost efforts The point that
desire 70 eucidase by these somewhat extended remarks,
thh that the moment high prices begin TO rule here
Mo country stops buyingthe consumption apparently al
most ceases and r., without doubt materially diminished
Tho stocks In the interior consumed TO the last pound
before fresh supplies are called for BY that time oxing
70 he necessities Of weak holders the arrival Of large
imports the market again a,tened out, and the country
trader supply himself TO any extent he It, at less
prices than the goods be laid down here for Until
money shall become cheap 1t s in the Eastern cities,
that goods be held here low cost there,
We must confess that speculation hopeless for the
futuv in nOtO has
got the entire trade Of the State TO discourage from
We start but Ia certain to be crushed BY excessive ship
Med
The bulk Of goods which have changed hands since
report have been sold at auction When we state
that large parcels Of Coffee raw SUGARS provisions rice,
-FOUR nails American spirits tobacco, sardines &C have
been knocked day after day under the hammer and
Mai at sale purchasers could not be found for
these kinds Of goods In with almost every other
desert pon sdduce pretty startling proof that the
ke broken do yn, and that something about radi
sally wrong. The matter overrading-too many peo-
pie In business here, giving goods fictitious value by
buying and selling 70 each one and 700 many goods con
ton An unnatural imitation has pervaded every depart
mont Of California trade from first TO last and people
q many descriptions OF goo1s although generally con-
coded ample, yet thought manageable during the last
song ar.as Sst was 70 have Sespp IL seen within the
ast fourteen days In orosrate Market broken down.
may say, solely on ts own demerits for during period
OF thirty nine days but assorted has reached
from home Atlantic port In view of these facts,
can arrive other conclusion than that have
tent Of the shipments made from New York Boston
hher during the fortnight ending May 20comprsing sir
sssortei cargoes-wss beyond Oil reason and MS US win
look forward with very little hope to matters materially
improve DUNG the fall, for we must calculate that fully
reach prior 10 the LIST Of November, which will In
stocks greatly beyond their present bulk For
cusr lines Of good. from The other side and our friends
N New York and Boston win ind by retrospe ctive
glance at our fortnighty summaries that we did not
speak too strongly Of the DISASTROUS results which would
follow the continuance Of shipments upon scale mani
testify The sequel has fully
ushed the goomeet prediction that We have uttered for
year past.
MONEY MARKET.
The very limited transactions within the last fortnight
have been without their usual effect upon the money
market, and the demand has been In consequence re
str1ced 10 certain extent and while the pmen by this
cs viii be mosty FOR other account han payment for Dur
ehases made within that PERIOD or for fregh There 70,
therefore, but little OF interest 10 be commented upon with
reference In mediate money market, while the
export Of gold from this port refute the
poaons that degree been entertained abroad
that the yield of the ate being diminished In amount
throughout the length and breadth Of the whole mining
region, extended enterprises are being constantly
embarked upon BY our hardy and
periy Of the miners, and their ability to sustain the
amount Of exports notwithstanding the immense invest
nents made In the impros ements have alluded 10.
There will scarcely be any data furnished by shipments
during the coming summer oaee proper estimate upon
the yield gold by the Mines but the only Inference
thai be derived from the favorable accounts reaching
from oil sections mus favor the opinion that the golden
harvest will be Of unequaed extent and the Of
that 10 going forth from every mining town,
hamlet and cabin cannot be without s effect In inducing
that emigration &, shores TO which the OF Call
fornla invitng open, and which Ii much needed 10
restore animation 10 the angushng and overdone COM
merce of the State
The failure Of two large jobbing houses since last mall
has naturally created good deal OF dsrus ard has had
tendency to make money scarcer for mercantile paper
Of even the first class For xceptionable names M
abort dates Per the street Is the mini mum rate
upon merchandise 2 2h per cent, with wide margin
depreciation, and upon real estate * per cent
pG month
The period for the opening OF the mint has not been
Fixed consequently bars still plenty. The receipts
Of du, from country thus far this month scarcely
20 large rs they for the time In May.