The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-08-27

4
and jobbers will do an excellent business, and
there is every reason TO suppose that the country
| dealers viii be equally fortunate. The following
are the official tables of the trade Of the portion the
week and since January L.
| For he veek. 1853 1850 1860.
Dry goods s2?isssi S,s li2sa si+S' 32s
Total for the week - ,ase 6,iie,7as eis4 7el
Previously reported so2 le2'si7,4o7 lo2oslo7o
Since January l. ss2 5l7In lss ,aa4, l4s 1855 3si
Enous or PHoDrcr AND MEKHASDsr.
For tie week. 81 ,sssas1 liss'ss1 lissi4l
Previously reported SO ,ei64o2 4o,4a7,43s 5as2s9l6
Since January l. s4l ,2ol, $50 li,esG 1915 5s672 o5s
1855. 1859. 1850
Fss as T;' reported , .ss ss a?1
Since January l. sl7 55s 4s,l62,ls8 s4co2ll
Continued advces of unfavorable weather in Eu
rope have stimulated our grain and food markets
TO considerable activity Notwithstanding the large
| supplies which coming forward from the West
1t seems certain that Ireland will need this fall and
| next winter large quantity Of corn. How much
! we can spare before December-that is to say, be-
fore this years crop can be shipped is problem
| which is exercising the minds of dealers. An I'M
| usually large export of beef and pork may also be
| expected prices are already high enough TO give
the grower a very large profit In the West the
movement Of grain is unprecedented. Every YES
sci on the lakes is employed in carrying wheat,
-four and grain from Chicago Eastward, and the
rush of produce so far exceeds the lake tonnage
that the roads running east and west carrying al
most as much as they can at their own prices Food
is also descending the Mssissippin large quantities
There is, unfortunately no room for doubt in regard
to the failure of the crop in large sections of
the Gulf States; the more prudent planters are al
ready in the market purchasing food for their field
hands next winter. The Mississippi trade this win
ter will be very active.
In regard to the actual extent of damage done to
the cotton crop by the drought, nothing new and
nothing positive can be said. A great deal of cot
ton has been lost-some say one-half some one
third some one fourth, some only tenth Of the
crop planted. Nothing can be accurately ascer-
tanned on the point for some months to come. Par
ties interested in the rise Of cotton syaggcrate the
amount Of damage DONE while those whose interest
lies in the general prosperity Of the Southern States
affect TO believe that the actual mischief will prove
trfing. In Liverpool, where the stock on hand is
! unprecedentedly large, the operators succeeded,
on the first news Of the drought, in putting up the
price a Of penny per H., and at latest dates
the market was buoyant at the advance. II is pro-
babe that the world will in 1851 consume much
more cotton than il ever did before, and as cotton
has been pretty steadily maintained since last Sep
TENDER. in the face of crop twenty per cent
greater than the largest previously harvested, il is
fair 10 presume that, if this years crop should
prove short, the increased demand and diminished
supply will cause prices TO advance. Much, how
ever, depends upon the general movement of mo-
notary affairs, the maintenance of peace in Europe,
and the actual returns from the South next fall.
The banks will probably show loss of specie
tomorrow. The export, including the shipment
of Saturday 18th, and exclusive Of that Of yestcr
day, amounts to aboutsl 500 600, against which
the banks received on Thursday $19S .s33 from
California. The Sub.Treasury has been gamer
since last week; the balance has once more ap-
preached six millions Some gold has been re-
ceived from the South, but the West has drawn
money from US, and ON the whole the banks have
probably Lost money to the interior The last spe.
Gle average was s2l OOs IOl decrease OF sj67 O3o
from the previous week. At this time last year
the banks held $40 ,52s O60 in coin. The move
mcnts of the banks, in respect to discounts last
week. encourage the hope that the loans
will show q decrease tomorrow. Their last
average was s29,9jo,3i6, an increase Of
se5 .lG7 from the previous week, and
a large increase on the average Of the correspond
ing date last year, which was sll7 5tl o70. II is
hardly necessary TO repeat what has been so often
said in regard TO the present bank expansion. In
the presen, condition. Of the commerce Of the
Try unusual caution ought to be displayed by our
banks. If this years crop had been poor one
in the West Il woui have been safer for the banks
/ 10 expand than il is at present; for the sudden
prosperity which has beialen that section Of coun
try viii tempt the people into new expenditures
end new enterprises which are sure 10 tax the ca.
pscity Of our banks TO the utmost Prosperity is.
in reality, more dangerous for them than adversely.
| They should always remember that the crisis Of
| ls57 followed the enormous crop and the prodi.
eious prosperity Of 1855.
Money Vas active al last week al our last quota
tions to wit for demand loans ON United States or
New FORK state stocks. IA per cent; on other se.
curiics. y: for short first class acccptances per
! cent; for 4 months. paper. first class. endorsed.
/ per cent: for single names highes, grade. q for
names less generally known, lOall II i
now pretty generally understood that the short
crop in England j. going ia produce It, usual effect
\ in enhancing the value OF money IN London. short
crops always create an increased demand for
3 money. because they involve increased purchases
! of foreign brcadstuis which must De- paid for in
I specie What effect an advance IN the price of
! money in England viii produce here remains 10 be
/ seen. Ou the one hand eur market always
I sympsthizcs often without substantial cause,
/ with that Of England. ou the other. the
I very cause which produces the advance in
money in the British markets ought 10 produce a
/ corresponding decline in ours. II the English re-
quire TO send abroad $40 1000 ooo or $4,000 200
more than usual fcr purchases Of American bread.
stuss. We shall need TO export so mach the less
specie. because We shall send abroad 20 much the
more produce But. agsn. other considerations
will soon come into play TO affect our money mar.
/ kct For nearly three years all or nearly all the