The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-05-10
FINANCIAL AND COMMERCIAL.


SUNDAY, Nay Sop. N.
The stock market closed yesterday with a decided up
ward tendency. The money market Is better supplied
from day day, and loans have been MADE ~ low
three per cent long time four about the rate The
banks have no demand their for money, and
the officers obliged TO huu, up customers outside The
time has gene by when bank cashiers cit in their OF
Gees lend all their money They have 10 shin round
the stre 70 lend about hard borrosers uset TO-
In time Of scarcity, 70 get money. This cannot last
few months may bring great change II e very curl
Gus amidst the present abundance Of money that
state stocks nrst class railroad bonds and all good sound
and dividend pay ing securities do not more rapid
ly appreciate We have Of the best State SKIES In
the market selling az too and fifteen per cent discount
doubted railroad bonds raging considerably below par,
and even rsrcsd socts good for eight and per cent
per snpum selling a. eighty ard ninety per cent With all
the difficulty experienced in Investing money, sssns
somewhat strange tIat these Of securities do not
absorb larger amount Money goes a begging IN the
street Eve per cent when eight and per per
annuLi can be obtained by Investment In soeks Of IN
dot o,cd character No cApiaSt question the safety
o. Missouri California Virginia Tennessee sists stocks
and Jet they AL selling below par. he public MAD
evidently deeply Affected by fea- Of future re-
gardps the o. hasncis slarr. Il ,rss ba, the
presctt plethora In the mosey market unnatural ar
uAcal state q things, but disastrous conso
queDc,s iReiy 10 arise from g. There s., in realty, 10
danger n ouE present position. SIMPLY Of stag
nation aud 20 far that goes one Of safety The recoye
~ from this inactivity aud rrostraton must be very
gradual but will be free from violent reactions. We
have in this accumulation Of money this complete winding
up Of the old cred. system the freedom from liabilities
oplojed BY all cases and iho fac, ia. he very lowest
strait has been reached ssnt that the recovery will
be eatby and we trust gradual The basis broaj aad
t8b.tanta and the stru,turo about being erected
wH w'tbou, doubt be Of solid character For sars viii
undoubtedly progress steadily; and until resches
dangerous height will The foundation be found TOO weak
and contracted for the ishrc above That time will ult
nsny ocme again, and The Whole ooncern will In due
course Of event tumble u psecs many have dooe be-
tore Its pohinr than the natural result Of imper.
feet constructive The ruins Of the .i net yet been
cleared away, and We may for many months loaser be
surrounded and oppressed by wrecks OF the last lorna
DO pu, danger Of more damage Everything Is
snug but may ne obliged keep along under bare poles
Until repairs properly made and everything s again
IN order for another cruise s folly 70 apprchend more
disasters from the recent revuon aud " worse than
folly TO hoard up tai and 70 10 afraid 10 move In any
direction, fearful that hidden an say may appear.
We mast cultivate confidence, gradually extend credit,
and awe gradual start 10 business 80 that The present
accumuatons Of specie the princlph money
centres &c, again in motion and circulate through the
proper channels. Every effort should be maize 10 give
start 10 the millions Of bullion piled up vaults
for the commercial casses may assured that
can be no general activity IN business until tbs specie
which has been derived from the pockets Of people
is returned " them in some way restoration Of labor
demand for breaistuHs any impetus given 70 the con
sumpioo Of staple products by which the producing
classes can get bold CT money, would be important
| movement, il would he the Grst step in the rgh
drecton. and one from which the most favo
able results would Tow. So long al all afraid &
move, 90 lJng ell fearful Of sJme imaginary dsss
ter, or renewed Of the revuson shall make pro
eress towards recovery. The amount Or business nos
doing is small, but Is almost entirely Tor csah, and
'hcrefore sound The Of this kind Of trade bsv
the better and should by all means be encouraged
We must, however, 0ald up another credE syf,om an
not until a new one fairly in operation can Se expsc
much activity IN all branches Of industry There s vcT!
little doubt but tia, the botomfsirly 40
the bsro pans1d any change must be for the better
We have grand capital % start upon and moth ng vou
give more pleaSsfs han 70 record soesy dimitutir