The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-12-27

The specie movement is against the bank averages,
which, according TO some estimates, may not be much
Of s25 600 when made up morrow afternoon
Last Monday the banks showed $50 COS ST., from which
the exports saturday, 18TH and wednesday by the
Persia, must be deducted well any sums South
employed In the purchase of Treasury notes The sub
Treasury now holds zoos as against So go si6 last
week. There is change in money TO report though
many financial authorities appear expect active
demand and less ecpous supply the business
Of the New Year really begins. Call loans federal
State stocks occasionally made at per cent, hoggh
is the regular rate. Brokers are paying AMI Tor
their demand oaas stocks OF all kinds Al b,nk and 1t
the discount houses, first class sixty ninety day
dorscd paper IL done al per cent all other de crptons
5a6as. The banks 10 show less anxiety than
usual lately take notes for the sake of earning diyi
bends. Foreign exchange continues 10 be maintained
above the specie shipping point 1t Is exceedingly scare,
and the leading bankers asking l09L q for
ling, and 5l.lS lSsS for francs. The Southern bins
which come into this market 90 lower than this.
The principal topic of conversation during the week las
been the financial condition Of the government Mr
Cobbs advertisement calling for proposals the re-
naming ten millions Of authorized i've per
2ith OF January next, has necessarily created
turbance in financial circles. II exchange Europe
tnucs TO keep W (and certainly gong % ship
much htcadsuns after January i likely that for
the simultaneous drain specie Europe
g. the south viii rather than absorb any remanscs
which may receive from California. Aud II the banks
hold no more than sa6 coo oo0 IN specie on 2ith
.Janaary transfer ~ ten millions from Their vaults
70 tiosc 'hc government 81 the rutcd state
would nlably lead 10 grave uncasinoss. II Voad
probably lromla a general aud scvcre-becaase sol
dou-curaimsnt 4 loans, aud would thus cause very
considerable actyity money. How long such a move
would Last TO what extent might he carried. ami
how might the spring commerce OF the country
arc TAR questions Tor speculation. They become more
ntrrcstug tn when il remembered that the ten MI
~ ave per bc ssucd January arc only
part 81 tn wants of tie government Atcr Lat January
1859, lie government 10 bc entitled 20 reissue A.
Treasury notes. all 81 which fall due at regular intervals
throughout The year some 500 coo believe sll duo
IN .iainaFy. How &. lht. aostng debt to be settled
In Wall street, The idea Of funding i Is tho hrsi
which presents tscN 10 tie mind a. obviously
the Simplest way d getting rid ~ A. az well az the
cheapest Congress may, however authorize the Sccre
iary hts notes, Keep the debt aoai Il
thu pAnthe inconvenience or which are readily per.
ucNrdh 10, aaoI,cd, then the ni,ed sa,es wrcqure
ihs sprlrg, not ten bu, thirty millions q dollars, and
the without taking consideration tho chance that tho
revenue Tor 1859 may fall short o. the estimates and TIA,
another ,n millions may nc needed to dcfray ,be
Coz. q The Paraguay expedition and any political or ma.
tons enterprise that may be Thirty millions
q collars bullion could ~ course bc raised by tho
United states hout difficulty, and n low rate 81 IN
isres but They could not be raised here. could us
slender fabrc 81 confidence from which S. much j. e
pcccd Ia lsao bear tie shock of that
they would bo wanted by a certain DAY
stocks have in general been depressed aud lowcr
throughout the week a. the following table win show -