The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-14

Total In American coin .9605 $50 OF
From the names of some of the shippers, it is evil
dent that the bulk of the shipment made to pro-
tect bills Of exchange about maturing on the other
side. The object il to guard against all contingent
ces and to guarantee the payment Of bills as they
mature The small amounts shipped are for private
purposes. This movement il about over. The APP
prehensions entertained have not been realized, and
advices by every steamer from Europe will give us
better accounts. The rapid improvement in our
finances must have a very powerful influence on the
other side and restore the operations of finance to
their natural channels.
The steamship Arabia, at this port from Liverpool,
gives US seven days later from all parts Of the
Old World. Her advices are politically. financially
and commercially highly important, and much more
favorable than anticipated The news of our bank
suspensions did not create the panic in the Anan-
cial circles Of London that was generally antici-
pated. The cause Of this we attribute to
the fact that suspension construed favorable
in specie point Of vew The supposition prevailed
that an expansion in discounts would at once follow,
and that the shipments Of specie would soon COM
mence again. They will find the result very differ
ent from their calculations, and have yet 10
the effect Of steady drain for gold upon the Bank
of England for this country. The advance IN the
English funds. and the absence Of any movement on
the part Of the bank, natural enough under the
circumstances but the favorable accounts from India
probably had az much to do with the improvement
In Consos and the confidence Of the bank managers
a. anything from this side of the Atlantic. The last
bank returns show but moderate decrease in bull
lion. Quite a number Of failures are reported in
Liverpool. Manchester and Glasgow. The failures in
al t. b. 11u, III
with the British American provinces. The most i'm
portant event Is the failure Of the Borough Bank Of
Liverpool. There was q very active demand for
money in London but the rate Of interest remains
unchanged.
Messrs. stoterfoht, Frost 4 Co. in their circular
prepared for the steamer, say
The week has been productive OF various interesting
events Advices from New York the 18th instant
PEELED the tear that further shipments Of bullion would
have to be made 10 the United sat this and the fall Of
Delhi (Which learned with the utmost satisfaction)
gave more cheerful toue " community, but II
countcractcd by the suspension OF the Borough Bank
The money market in Icnson has improved upon the
American and East Indian advices, but the produce
markets have become extremely inactive. The rate Of
per cent discount begins 70 weigh heavily upon these
which have become very sensitive At the present high
prices, and holders OF goods are anxious " make sacs
even at considerable sacrifices wnhOu, finding buyers
The decline in cotton and breadstuffs is doubtless
the result Of the suspensions in Liverpool 80 far
cotton IL concerned, the advces show pretty con-
clusvely that the decline will be but temporary.
Holders were not disposed to sell at the quotations.
and very dull inactive market ~ reported.
In relation 10 American securities the London cir
cular of f. =. satterthwaite says:--
We have to note during the past week active business
Ia American railroad securities NJ the lower quotations
which have ruled many investors for small amounts have
appeared amongst parties who have not hitherto purchased
American stocks Illinois Central bonds declined ~.
and shsres 10 IL discount the announcement ~ the
company having made sssgnmcnl, but close hrm at
"a, and discount respectively. New York Contra
shares and bonds have bean In good demand, that
pany's freedom from floating debt being very fsyorably
regarded.
The Arabia broughk about slo00OOO in specie
the consignees Of watch will be found In another
column.