The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-14

srnness 70 increase or dmnh III, carsacy o. any ooun
Try but moro especially ss,n s.sns', = ei, , ,o,
| from The New York Herald. NOV ., 1879
We had currents and counter currents yssserdAy-s
rae And fAi.sn eiev.oo saa aspsss on-Au Tending
and the nature ard e1'eo Of the present aSauca aus
ORDER.
entered into during tho ptseai stale or things,
srd yesterday the foreign commercial hers wore nN 70
ceved in time for Change hours tners complete stag
alton in general basin It's however,s remarkable
fact hat IN every commercial reaction ike he present the
community rhoee who fah ana iho,e who get extensions
small part or the commercial comm unity Toe great
departments Of industry are sill going on Piodnson,
distribution and consumption doni atop for moment
| presrre-a crisis dosioys 10 property, .waliows u
real value, iUpedes egitmats ASTON. I; aca ~
rwestenes and purider az the basy commercs! atnos
pierre The presen, Drills Is wisely Enthusiastically
caused by the action o. bad laws sad excessive specuA
ton In the usuAl avenues OF trade
From the New York Herald Nov 4, 1883
The more the money market IN England examined tins
less 10 liked 10 sno saed that large parcels o. ne
rlcan stocks will be returned from that quarter ansaie
able The cour.e OF the Bank Of EDgland has caused
deep sensation bah s'dcs or the water II will not
operate however very severely here for some ne to
come.
Similar caurss have been in operri,n here IF We
knew exactly the history OF each individual fall ire aha,
has recently taken pacs could certainty
the general OF the esep; pressure According TO
the best information one thru OF these failures were
csused ny land speculaons lots as distance absorbing
their active capital. Oilers agIn, had extended their
credit country purchasers tholr 20 ami
means. The country merchants have been engaged Ia
speculons ALSO and hence they have IN many niuoes
demanded twelvs or eighteen months credit instead OF
six or nine, a. formerly Oilers, again. have been
hamped by the want of personal management and carly
deficiency Of capital The avar.clous ani usurous
tees OF hsse connected with banss other
tive agents in The pressure When money is wanted
capitalists avail themselves Of these wants aud make the
merchants deeply. il visible TO all, however, that
deep rooted defects EXIT IN our reveuus and aranca sys
ut--uO m M
tho po wer to inmdae the commercial com nunity
control the money market as ii does .. this moment
From the New y ork Herald, Nov. 8, 1886
The money market and The rates OF interest are
changed General trade il fat and the sAp'es without
giving way are not SO brssy In demand Flour cotton
rte, wheat, and eli, remain nearly as they were
There pause IN the march OF commercial events.
Every mind appears to be employed IN trying to discover
the cause condition and upshot of the present state of
things The large papers in all Issuing daily
quantities OF the crude notions the crisis They
ngle up poitcs trash tarfuge-so much
that Is the interest Of uxsrers to make the pubs Sieve
that is difficult to mi from their columns the truth,
even sembance to he truth correct and true and
scientific mind on commercial Affairs must deal in
lands exchanges saltpet stocks lots ri New Haven,
any article In the market He muai keep aoof Now,
there not ange journalist in Wall street that Is inde
pendent enough in his circumstances In his deal
ngs sufficient 10 awe oct view Of the money market
&c S aone Iesl seoye
without respect 10 banks, capitAksts Dealers
brokers, merchants. We for nothing but truth,
The presen, crisis is q phenomenon in the history Of
commerce It the beginning of new era, 10 which FOR
| tho orst time the money market and commercial ope
raicns OF country shaken the whole fabric OF
Britith banking Ard Bsitsh commerce.
By the singular combination Of the tariff laws the de-
poiit laws the distribution sw and the public land laws
demand wss made FOR specie upon Earope viii ID caused
sdran upon the Bank Of England, between the Goth Of
March and I'd Of September OF e. 900 sterling In gold
and silver bullion There ID, however, even In England,
difference OF opinen about this particular point, whether
caused the drain on England some attribute the sensa
ton In the Lon don money make, 10 the increase OF joint
stock banks and the drain to the Continent owing the
comparative cheapness OF gold In the Britt money mar
ket However ihs may be- for the frs, tine the British
capita ss have walked TO the magn'ude Of the power
wealth and CT the United States Hereafter
shall from IBIS country, almost control Of the London
money market This power given n by the hand OF the
Almighty. Our cotton our tobacco, rice equA TO
much specie going 10 Europe 70 ct the whole machine
ry OF Br.sh manufacturers In motion These siApies
the OF power abroad credit wealth
home The calculations made by the econo mlsts on
both SIDES CT the water based specie shor. sighted
tvaddle Cotton Is cAn-coon is god-oo,on II silver
since the year 1855, we are told that the specie Of this
country has increased from twenty eghi millions
such quantity would afford basis for DOUBLING
eriaino bank circulation Yet idle 10 suppose that
surreney q, Some or sbroaa ms wear !, Is c.cussed
ha. the cotton crop will yield I'VE u ten millions
a, dUns suy & our
West has increased instead Of being dminhed thad
been supposed Tho aggregate crops of this year will,
therefore, undoubtedly exceed the last By een millions
This, taken In connection with the imports of specie,
would admit increase Of paper currency ct lea
change Europe and notes and bank bills home
We SHALL therefore, have great additional banking
pil because have ea, addition 70 il bAs.s-spece,
cotton SO, &c and already the Impulse fst TO be 20
great that banks are about being chartered il New
Jersey, Arkansas and ether States
This country has Just begun Its giant commercial career
II our commercial laws were vui 10 proper sane-n tue
government entirely Invested Of la power the
money market--if We had no surplus revenue-f com
merce could left TO 10 action could In year
shake all the banking institutions Of Eogaud and keep tho
sses osns msa acrOss me s proper o.dee sad n
article 10 co on that We bad wise government or
From the New Yori Herald, Nov 8, 1896
The money market IL ~ tight ~ ever. Soue report
slight yesterday, but majority Of hers affirm the
contrary Interest short loans on the very best paper
u per . noah. We saw 5000 negotiated nj that
rate being the best paper in Wall street
There y general monopoly Of the public mnd IN the
that shall have deeper pressure and more severe
scDsibity In financial matcrs Every hing viii depend
published statement Of the Treasury Department the
plus neirly SIS, 900 ooo-almost equal 70 all
contro OF Inc money mako, Of the world With tae sur
plus governs all the banks reduces taeir and
Grains England Of specie Figures prove this extrsordina
~ TACT,
BY tho recent arrivals have received variou, reports
and oocnmeni, ffor London, giving full vie~ OF Inc
banking system Of that country. On examining there
s,stamcu. and comparing them with Inc bsnas hi.
country learn the extraordinary FACT ihs, Al this
the banking circulation Of The United states nearly
equal 20 that Of agland and pecie nearly double
thus throwing the whole currency and exchanges tf
Eosand entirely In the powef or this country. For the
rake OF ceaYness have thrown the English currency
dollars, and thus present the state OF banks
country Al two perods,-
BANKING ~ EsGLaND
Circulation. @p.cu
Is34Jsne-BAIk OF Va risnd SIS 100000 90 oco
ls3i-Privste and join, sock BANKS 10 100000 -
Is5seJuDe-B.nf o; EnslauG. is'ScO,OoC 100000
ls3e-Priva,e and pint s,ock pAnxs S. 100000 -
htffekhte. SloAi kpS0v
BAsKISG M THx UNIxp STATrs
Circulation. Spers
ISAIAH the banks .......e $50 5000 n 1853 900
| 1855 DO. ............ os,sa2,oco a, 900 900
b0,OVo0t0
Comparing hese statements together, In reference the
present pressure struck with the exirao binary
facs that he mercantile community OF The Uaed saior
have been able 10 sustain Themselves in the face OF the
Surplus and the specie Of the general
government the like OF which without parallel Ia
history. n the British government had acted were