The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-08-02
FINANCIAL AND CONNER GAL.
sSsS,'4s 43s,s@

IoGYcase,.
The dec me in the specie column, ANAL as Il IL, was
hardly expected This week the Sab Treasury viii dis
rurse money Nth some freedom, rica may enao me
banks TO keep the average above twenty millions until
the next California remittance rue reduction IN
loans would have been moro satisfactory had IL peen
greater.
opinlcDs diner among financial authorities ss
TO tho extent 20 which the present contraction
Should be carried Some consider the backs safe
So long Eer loans under ,ndret aud twenty
millions; saosner party esteem hundred and Eeen
the proper limit; third wilt he satlsasi with uosaiog
short Of cns hundred aud Ten. Select circle OF amauE
hDaOciers who meet occssio,Ay aachers hacsss
and call themselves a currency conu.ee nss. apon ii
that banks aoould hold twenty per la
biitsss in coin--nether moro nor less.
Il 10 evident that OF these taaorics command
unqualified approval. The relative propotlou whcn most
exist between bangs liabilities ami ie me.aic reserve
necessssi vary vh the selsoas the temper OF tue
rupo mnd condition OF trade, aai tue pcospects OF
l,bal a.ss Tca per cent 10 cole may be eooogo, aud
han enough a. oae time, waite E: 200 .ner ihrsy
per cent will &c lit sver2rtng depends rpco
the chances Of the banks being arsSu up'a for CON
either by panic ri,ken depos'os or by foreign
BANKERS waaa exists such rvospec;, 4, srouli
ne the on,s Of bauks SC rortify themselves IN
every say asaiast the aaser; got alone oy
cress,cg tncr OF busn sad w dimn's.iog their
lisb, tes, Dut by endsavor'og "a strengthen pablo
confidence ana dini.p sn too tendency 10 alarm. A
a7ic'Uae banker, seeing sacn prospect looming 10 tn.
future, will Keep eeiing the p,b!,c pulse, guided
by De will aos talk scva, preserving or that f.o
cia reso between MS ana his specie no xil rot
run htk against puc: feeling Snd attempt excuse
cendoei by pnntog 10 increase Of few thousand dol
srs In his specie account be WILL the contrary wssch
a.
gov-'a ts bank accordingly.
rbs dacgers to be sssrenerdet this fall ere no nyeeery
They Tere fully tried Gud tessed in 1857. They
scsy IN the possibility that the OF specie IRON
tns port between this date end Ia: November py
Esrsvasant imports casy be so large panic
snd to caese run so the banks THE is the disease
&c feared toe remedy ID. cst simple Il ats 10
sc 81 acinstritoa OF tie banks es will check the
.rewh Of snxe,y ana proven: oc,burs Of panic ia the
paolic mind.
Il ia pain thst gold must be freely shipped kis fall
and IL is out 100 likely thet several weak importing
will DOT be able 70 stand the depreciation Imported
eooos caused py the ~hSn inevitable. These
hings past remedy It with the Sauks to de
cte whether the mischief shall stop here or saa spread
som the Importers 20 the merchants generally ana frou
toep ~ the bnnSs aud &c the community a, largo W.
S only add, That che o. .le Leading banks
NOT calculated to prevent the spread Of mischief or the
gre~th of sierm oftne oinss ~hich NAKED las
week having increased their dsoonnrs Ia tae tecta
large redrcton OF spece three prigctpsl oooc.
10 pursue Their CT f5tiy. TIE Heuha,aa sak
rbch largely rep Iasolc for mischief done oy
Tae oepks 1851, lost lass week abou. s7oo $50 10 sp
.e. Only ocrieiied about S64, COO; So Le4trer
sns, ~ncn bag selected the receptacle Tor tn-
fupcs o the cry, aud ~hcn ought 30 tue aoss ces
ssrv aivo Of all the bsnss, Gas agaa decreased s dis
counts Tits week, ~oe Metro ooltaa has actually OK
| psaoet sl65 900 scce lest Monday Upgn such fats
| Comment is unnecessary.
Foreign exc5apgs for Weacssday's sea to Liverpool
iHquiie dull sad from present APPEARANCES the spe,
shprDert viii not be large TIL to o1orru r. no xever ne
'oug can DO sad decidedly topc. Excaeuge is
Ne: quite so frm as il quote hsRlsrs s.srur
bills dul At III Z or Oh days. and lo for sga
rehcs B 10 for snort eight, and 5.l3s1 FOR 90 DAYS
Honey is more active, and alter quoatioIs 70
for call loans, the former being usua Igure for
very prime accepances and 40 for longer paper The
demand FOR money, both among the merehanss and the
brokers' quite mooerae snay yet advance or
tNo per cent without Causing aEE great Inconvenience
Sueh an advance would pro0aby check the export o
specie, as 1t would then become o5ecs for foreig1
houses 10 leave their here for temporary employ
mtnt
There better feeling in the stock market todsy
several commission houses report few orders
though HE amount Of outside business Ia quite
small Az shs month advances better report.
may be expected from OF the railways. An idea
is extensively propagaed by jobbe.s wno are shoy
OF stocks TO ihe effect thet produce los 70 come !,
market ~ rail This, If true, uould be { melancholy
profoec. Ter TIE bulk Of the farmers IN west VT
have no other eans OF sending their prodsce TO xtse
man the iaroans The wheat grosera Of interior
ohio liinnis and Michigan seen prepared, however.
pasropz- tee rn'.sys in spite of ;ne low price OF graa
ne understand that contracts for the foc~ardng Of p
dnee are already being made whle os the other aaa IT,
prospect Vi brisk traffic 10 goods gong westward 10 ver
promising Meet OF the Western stocks were q gosoe
Better TO day. Michigan guaranteed siganced * pc
cent, and New York Central 70. There was marked
sdvsrce in Pacific Nal, when aold freely at r. Sem.
new mystery sad to be ha,enng liz connection vita
tbs company, when il is not for s,ockheidevs int
rest 70 make Known" We understand hat II IN. Cor
nodoIe SENDS the Vanderbilt the paci: the ad,i.rc
~il bs despatched to compete wish her Panscsl
s qu'et at ll53s rhe competition between Mr. Wander
5s and the P&;fc Nal OF grea: profit 20 tbs
Psny We preeume has lis participation in pc
opsse Of the Collins cleaners viii not have the else; o.
rendering It G ps-ty to the conn.t.
In the afternoon stocks we're in fair demxud and the
nsrBet closed drr at the following quotations.
Nissoaria, So u Canton, Is II; Cumberland Coa
isi New York CENTRAL, 141S 4; Erie, ~ "a; Hut
'son S've-, SO q; Harlem. ga g To- Reading, 45x
7a Michigan Central, 40 q; Michigan Southern, TX
q; 90. guaranteed, si1a q; Panams, ll51l X; III
n"s Central, 6ssl &C.; Gaena aud Chicago, OK y
Cleveland and Toledo "a q; Chicago ana Rock I.api
GlI a.
rae fol wing the business OF the Sub r,s.spr,
today
Total Pc ments ......... ........ 452 aeS -
4