The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-06-21
FINANCIAL AND CONNER GAL.
M q N Ely lar * e II.

MO N II M A II X r II.
SUNDAY, June 20-6P
The return Of hot weather has brought with . less
active business and turned the attention Of stock specua
tors more to the closing Of operations than to the
sion Of contracts No looks auy change financial
affairs for months. In business present
ment is only 70 moderate extent, aud there se
charge Of consequence for the better until the
10 the general impression that the importasns August
and September will be quite active; and is not at all
Improbable that the calculations Of the Secretary Of tbs
Treasury in regard to from customs will be
lied II must be borne in mind tina. the falling of i'm
poraons since the list OF January last has not been
less than eighty millions of dollars and that the consunp
ton has been principally out Of old supplies This
fact is sufciect 10 show that the stocks Of merchandise
generally in hand must be largely reduced, aod that
must In many articles Of universal consumption be pretty
the bare shelves. rne country a: large is not &C
tuay poor money In man7 sections be scarce, but
they rich in products and perfectly able 10 lquids.s
all indebtedness soon the crops marketed rue
recent frethes have vitae sprsad
disasters, and Individual suffering mas undoubtedly
been veiy great; but the grand aggregate Is inva
riaby much less than reported in the early stages
OF the nundatops, and the result usually proves
less disastrous than anticipated We do not think the
floods Of the West will prove q serious drawback
prevent the return Of better times to later day
counts Of the growing crops In the Northwest
vess are destined 70 be particularly prolific and to hat
young and rspidy improving portion Of the country the
result must be especially mpor,anl Minnesota WIS.,
consia will in few years be the wheat granary Of lhe
Unon In the growing Of that great staple they possess
advantages urequaled and unapproacbsbe. Other
tons OF the West subjecs to fresnets unHvorabe
winters diseases 70 growing crops AMI to local Diseases
the human race, that the product all tines be-
mOra lr lQsQ rta N ihe wsr Nnrtbx
which point the great tide of emigration now turned,
the climate 10 conducive TO general health AID 10 the pro-
ouston In the greatest profuson OF all OF great
staples, OF superior quality In all countries the
people for time are greater THAI producers
aud IL may be year two before the haEvess OF MIN
nesota and the Northwest generally have mucn effect
upon the marketable supplies but very day
We shal see pouring 10 upon from that section
deDces Of its fertility and abundance Il viii be long
time before prices for breadstuns agao high
points which have ruled in seaboard FOR
many years me West is penetrated by railroads
such extent that almost annually millions OF
Of territory opened and supplied
market The agricultural Of sections OF country
equal TO ordinary empire annually developed and
win such additions 10 our domestic wealth recovery
from almost any 0Dar cal revuon must be rapid Tue ore
sent depression Of prudence ami caution
of actual necessity Every prominent local sound
and healthy. Credit "a sufficiently expanded FOR tue
ment, and the business OF the country general
I than before conducted upon The cash basis. Un
fortunately viii be necessary deviate this
when greater activity prevails; but will, trust, be
long time before the public mind becomes again
imbued with the spirit Of speculation and Wild AID
reckless In regard TO neu projects marked the few
years previous 10 the financial collapse Of Otober 1857
Our BAT king systems are sound, currescy well &c
cured AMI restricted 70 proper limits THIS inieroa
improvements OF the country have passed. through
the necessary ordeal 70 purge and purify them.
The process has been painful 70 all, sod "
many most disastrous. socb result was In
evtable. The railroad companies OF Great Britain
In ls47 ls4s experienced similar panic and pro-tra
ton. The railroads Of Mes Eng and . few years since
compelled 10 suspend dividends AMI Introduce
thorough reforms The railroads Of Great Britain
and Of New England well established again, AMI
productive their stocsholders The railroads the
Nddle Western and southern States undergoing
the necessary process OF depletion and nquidapo svd
few years will bring up most Of them higher po6ts
prosperity and productveness than ever before enjoy
The rapid growth OF the country and the Of
and population must give activity ali Of In
terps Improvement extent little dreamed oy
their sansuine projectors and all they will require good
and honest management 70 give them q eo.iiion
hranca world equal 70 those Of any other country
face Of the globe.
The exploration Of specie from this port last week
email, will be By the following stAtement-