The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-07


Of DELAYS from 1hc banks to the Subrreasury next, by
the unsettled coaditicn Of political AFFAIRS and lastly, by
the large mpor ao,s and the prospect Of enormous
spring trade su rpiag the banks in an over expanded
condition. The movement further, accelerated by
bans contract the East which precpMated into
maSket quty ofEastcrn paper The banks began early
In the week to cal in all loans at and under four per cent
Private ba following the example the rates rose, and
most of the argansutions called all their loans
der i've, arid "a ast under six psr cent and refused to
lend below the latter figure. In tho street temporary
balances s. leaned out fos day two at time at
FIVE, but six percent must be considered the legitimate
rate Inc banks have lost spsce dursg the week Last
Monday they showed specie average OF s27 725 290 But
as the California remittance couzted but once Ia last
weeks Averages, it is PROBABLE that the actual amount
held Monday last considerably larger Tae LOSSES
this week have been as foilows-- M
Exports 70 foreign countries. a60s,Sss
Payments account OF the loan ........ 1,063,s67
ro.n. s., oso,s5e
The received for duties durlg the week
was, it may be remarked, considerably over million;
besides tho $780, 900 in coin included ABOVE sls8460
pad for duties IN the shape Of Treasury notes. AS
Stunning that the baDksbold Monday last S2S $50 900
which is liberal eetmatet may be expected that they
viii s2S 900, to which must be added
any amounts that they may have received from the ine
VT iDe sue Treasury Daanco ~
GAG against 81 oo4 at the close Of last week. Foreign
exchange owing the small shipments Of bseadstuas and
cotton, continues rule at nprecedentedy high rates FOR
th1 season the year. Bankers have held their sixty
DAY sterling bills, throughout the week, at 1898 aXs
fancs at 5.12H 6.l5a617K. Good commercial bius
have been current at the usual difference But the largo
mporlaiions, coupled with the small temptation that
at present 10 export produce. tend TO discourage
| any pressure Of bills on the market
The priacpa topics Of conversation banking and
financial circles the monetary situation Of tina general
government and the prospect Of alteration OF The tariff
At latest dates from Washington there fair PROS
pect that the Southern members and Senators would rc
cede rom their position the tariff question. and would
consent to such alteration the ~ would increase
the revenue few millions this year. The decided ground
taken by the Pennsylvania delegation will probably
have weight With the practical Of the Southern
members; and while some may refuse all Compromise
obedience to syataccd theories Of free trade msior
ty Of both houses may be expected 70 vote in sush way
that the tariff may achieve the cad for which was e.
tablshed namely-the support Of the national govern
mcnt and the payment Of Congressional aypropa.onu
Opinions widely divided a Washington a. TO the exact
necessities Of the government pcrsons high in the con-
ndcncc Of the Secretary Of The Treanuy were heard
couple OF days since, TO express the opinion that at the
rate the customs duties increasing Mr. Cobb would
be enabled TO scrapo through the remainder Of tho fiscal
year without loan, II the Treasury notes were provided
Tor Inc punished letter Of the Secretary does not wholly
connm these views And The best financial authorities at
the federal capital appear TO expect that an act auhorz
ing new loan Of 100000 will be passed for the re.
he OF the government before the end OF the session
unoes'ooo 'hat the members Of The House Committee