The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-01-01

lated specie March was aotve month, both In
business and in money matters. the supply OF specie
kept up, and there not much change In the
bank reserve. was, however, smaller as the
cioee than at the beginning Of the month. snip
metfs abroad commenced, and exchange advanced
Apr, was very essy month Tor money. The hanks
rad up their discount Inc rapidly and the aggregate
was greater than before reported. fnere was no
change Of importance throughout the month In the spo;o
reserve. The stock MAJ kot without important hue
tustiops with very active business Tue declaration
of peace between Rutss and the als had 60 particular
effect the money stock market Az the clcse OF the
mont the bsltu commenced q contraction OF loans
May without much change; money continued easy
ID roughout audpg the bank contraction CON
tnued. The specie re.erve increased and the demand
for money active but not sufficient 10 Affect rates.
Tue Sub Treasury surplus had reached large amount
and spectators were anticipating depletion by tho
psy mept Of Texas claims expected that the pay
ent Of amount Of specie out OF the Sab Treasury
wouln give great impetus TO speculation Ia stocks but
such result was not realized. June was an active
month"; without prod much effect on financial affairs
The payment OF Texas claims commenced early In the
month, and very largo amour. Of specie was drawn
from the Sub Treasury and paid into the banks. The
specie up to nearly $ls coo o00 An e1pan
sion In discounts commenced early in the month,
and ircreaeed about 1900 900 before the close.
These movements had no particular elect on the
stock market Speculation WAS moderately active and
the huctusors in prices quite limited The month OF
July was an i'm portant one In money matters. The bank
loans largely increased while the specie reserve rapidly
decreased The specie shipment active. The banks
lost about GOO GOO q specie Speculation in stocks was
more active and prices Improved very buoyant feel
ing prevailed, and bu,necr rapidly increased The high
ruling for sxchopge and The sriuaency In money
ntcd W
speculation materially. August opened favorably, with
an Increasing bank movement Tho specie reserve con-
nued TO decline and the aggregate own TO compare
lively low points, while the bank osps reached tho high.
est point Of the season. Money continued easy ana the
stock marx OF we'll aIn.eiued. The month Of Sep
TENDER generally the maximum point Of the year in
banking business speculation-r all things connected
with trade and commerce. II 70 last year, and We
have doubt will be In gil future years With more
limited banking movement both in the discount and specie
departments there great activity in all commercial
operations, and very active speculation IN the stock
market. Advces from Europe received throughout this
month, were rot Of very satisfactory character fhe
financial difficulties OF Europe had become too seri-
Gus to be without their egec, here The most
s'avmpg fears were entertained by many, while
obe,s ned that too Independent Of European
finances 10 be affected Those who operated in bust
matters with such IDEAS found out their mig
1ke Early in October The crisis The Bank Of
Eresrd by raising the rate OF interest from
AZ per cent The enormous speculative movements
on he Continent and drain Of bullion from B'pk Of
England ala' med the managers Of that institution, and
they found necessary TO adopt to arrest the
outward current Our banks steadily contracted Their
ioarr without realizing much charge in the specie
save. Srecu alton In stocks rapidly decreased, and
prices steadily receded Wall street in daily appre
hens,on Of panic and holders Of stocks eager 70
set nc OF thsr supplies The expectation specie was
active, snd the demand for b1msn Europe 20 active
that bankers here ads shipments regardless Of the
di.os 81 exchanges November opened very blue for
stock spectators Prices declined rapidly end the losses
very heavy. Money very tight, aud The banks
touched the loves. point Of reduction Advices from
Europe In gloomy enough Tho failure Of the Bank
OF France generally anticipated. The Bank Of EGG
land, the Bank OF France and oil the great banking
Institutions OF the Continent rapiiy advanced the Of
interest," and resortod to the most rigid restrictions 10
re,t possible the lid spirit OF speculation. In our
own money market the most alarming state or things
prevailed. ockjobbers hard pressed for money
and submitted 30 moot ruinous prices, perfect panic
was realized and for time looked though there
really bottom, TIE wildcat excitomcn, seized upon
tie public MIND and ali sorts Of disasters predicted
fortunately the specie Of banks main
sned and the crisis passed Tho bapk specie inc-eas
ed durrg the month about $4,000 ooo and the loans
about the amount The expectation OF specie was
not rear large anticipated The Bank OF Englsnd
maintained its restrictions throughout. The Bank Of
fboce did suspend hu, there no check given TO
speculation the Contren and the din ,ultes ex
sed ct the cose In thtir iu force attempt had
bC,n ade 20 remove them. The mouth OF Decenbcr
opened with a very stringent money Market ard con-
tDugt 10 he clso There not the slightest lie. up
throughout the entire month he stock market vas
without much change The news from Earope gave Us
s,eaoy accosnis o. tho high Of Interest ruling all
tie Continent and the Indications Of app'oSehH
commercial and nnsuclsl revuson every day vers
moro apparent. Tho Bank Of Fraocc managed TO show
an increase Ia itt bullion Al mo monthly statement by
large Purchases al gold, bot intention shown Of
reducing the restrc,ons placed upon discounts. The
flank of EpeIand, which rad In few week. rssod the
of irteres, from AZ to per cont, made reduction
early Ito mouth Of half per cent, but the demand
fer money bcreased and con,os fell on after the dvi-
6end mere than THO interest paid. From Jure l TO
pc lb 1885, the Bank Of Ergaud reduced the rate OF
pteres, rec 20 AZ per cent then carried I, rapidly
IRON ~ 10 PER cent, and then reduced 10 81 per
cent. on short loans.
The Boston Trsw Of tie 2oh inst, gives the following