The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-07-18
$38,803,746

There having been no Cunard steamer direct from this
port the past week. while the California steamer arrived
Monday with 81 1856 s65 in specie freight, the banks
should show considerable increase of specie TO- morrow
Yesterdays shipments will not tell against the average
and the shipment by the Bremen on Saturday, 9th, was
only $500 643 The Sub Treasury balance does no. vary
much yesterday stood at - 2s2670, against 81 49,,
44o at the close Of the previous week. The receipts for
heavy but the necessities Of the
are the disbursements fully keep pace with the
receipts from this is generally surmsed that
the bank discount line will show increase 10 morrow,
several Of the large banks having been buyers Of
during the week. If the event confirms this anticpatsn
Il will be legitimate subject for regret In the presen.
condition Of the trade Of the country 1t s the duty Of the
banks pursue policy Of tho utmost caution and pru
dence. Figures prove that no reliance can be
placed upon the moderation Of the importers
60 long as the banks grant them facilities
for buying beyond their legitimate wants During
the tendency Of the European natural 10 expec.
SuAs s"~ ~ world will be liable TO sud
den and violent fluctuations, which may proyv ,shy
astrous the banks not In safe position. On every
account s the clear duty Of the New York banks,
well for their as for the public interest, to
tously until the harvesting of the CROP the cessation
OF excessive imports and the restoration Of peace ia Ea
rope enable to look forward with certainty period
Of unnterruptedly prosperous trade. The last bank
nguFes were w specie average and $l2 633
average discounts.
Money worked very easily during the past Soma
have supposed that this due 10 the reappeaance OF
several Of the large banks in the market lenders while
others simply ascrbe the fact to the large of idle
money and the returning courage Of lenders We quote
call loans from to g. most transactions being at the for
mer fgure first class short acceptances per cent prime
paper endorsed months per cent names less gene
rally known TO- according to quality, &c. The foreign
exchange market has been moderately active and most
o? the leading drawers have raised their rates. The quo
taton for bankers sterling for yesterdays was
lloA q for 90 days, and 1l01 u for sight A, these
rates specie can be shipped at profit. One two Of the
leading bankers have held their bills above the market
rate probably from an unwilingness to draw.
The Sub Treasurer s slowly dsposing Of his So per
cent Treasury notes. and the duties are very heavy but
the balance a. this point continues small In ordi-
nary seasons the bulk Of the fell impor.a.ons should
have arrived by this tme this be the case this year.
the government may find itself seriously embarrassed be
tween this and the meeting Of Congress The fluctuations
in the public revenue during the last five years afford
very powerful arguments against the soundness Of the
present financial system, by which the governm mt In
come made To depend the importa.ons of foreign
goods from abroad.
The movement in stocks during the past week will be.