The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-11
FINANCIAL AND CONNER GAL.

TUESDAY, Jan. 10--6 p. N.
The following is comparative statement of the
exports, exclusive of specie, from New York to
foreign ports for the week ending January 9:-
For the week .$649,569 664762 1,042,S27
Thus the year begins well; the exports of bread
stuffs will doubtless this year swell the aggregate
exports Of domestic produce from this port above
last years. Cotton also continues to figure more
prominently than usual in our export retnrns
The money market would probably have been
easier to-day but for the simultaneous arrival OF
Southern mails, all containing sight drafts on
our banking houses, which naturally caused good
deal of movement in the market. The brokers
were supplied by one Of the large banks, which
received heavy sum this morning, and loaned it
out at once On the whole, the general feeling to-
day was easier and the money supply larger,
though rates were well maintained. An idea OPP
pears to prevail in certain quarters that we have
seen the last Of cheap money, and that loans win
not rule below seven between this and next fall.
Those who entertain this view cannot have an en-
larged experience of our market Until within the
past two years, when all rules were at fault the
money market invariably became stringent toward
the close of the year, and remained till the 18th
or goth Of January. The striDgency was caused
by the universal preparations for the payment OF
dividends and interest and the redemption Of
scrip at New Year. A sum of from eight to
twelve millions regularly, for these purposes,
withdrew from the market between Christmas
and New Year, and consequently, until that
money returned into it's old channels, and
was again available for the purposes of
borrowers, parties in need of money were
obliged to pay whatever lenders chose to
ask, and II to Is per cent were quoted common
rates of interest In 1868 and 1859 the effects of
the crisis checked the operation of the usual law.
The amount paid out in the shape Of dividends &c,
was less than usual; at New Years, 1857, no bust
mesa was doing, no one was borrowing money, and
there was no demand to put up rates. At New
Year. 1859, the banks held nearly $2s, 900 900 of
specie, and were 30 anxious to make interest on
their capital that they lent money freely enough to
keep the rate down. At New Year, 1860, the law
worked as formerly the purturbating causes of
1858 and 1859 having ceased to operate. Money
advanced from five to seven per cent between
Christmas and New Year. and though growing
gradually more PLENTIFUL is still worth the higher
figure. In all probability the market will remain
pretty steady for week or more, after which, if
no unforeseen accident happens, It will be safe to
look for lower rates. There is nothing further with
regard to Mr.. Storys failure his liabilities
riousy estimated from s35oy000 to 100000. There
was some talk to-day about the failure of note
broker; we presume it is an old story.
Foreign exchange is lower again, the pressure
of Southern bills for sale in market being quite
marked. Very excellent bills have been sold to-
day at l0s for sterling, and 52l4 for francs. Our
city drawers are asking 1854 I; but we hear Of
no sales above 1884, and few as high as that Bot
for the recent fall in exchange on New York at
New Orleans, it would be safe to look for heavy
shipments of coin in that direction. As it is, some
gold viii probably be sent South in anticipation Of
the fall.
The following are the quotations Of sight bills on
New York at the cities mentioned, the rates being
in all cases for the currency Of the cities at which
the bills are drawn