Cincinnati daily press. [volume] (Cincinnati [Ohio]) 1860-1862, 1860-12-10
MONETARY AND COMMERCIAL.

Fiuon cial Affairs.
From present indications this will be a
severer weet, financially speaking, than was
the last, and we fear Monetary matters will
be even more unsettled next Saturday than
they were day before yesterday. g..
Money will not, probably, be much searcer
than it has been, because the Bankers have
already paid out nearly as much as will be
called for; but confidence will, we think, be
sgtill further diminished.
Many fnanciers and capitalists think the
New York Banks will be unable to stand
firm beyond the present week; that they
must succumb to the heavy drafts made upon
them from other points--an opinion that
seems well-founded, and likely to prove cor
rect.
In the event Of further Bank suspensions,
Uncurrent Money will advance, and Gold
will be put up to high rate; butitmust soon
decline again.
All the present troubles arise from politi-
cal causes, from an unreasonable and absurd
panic, as evey one knows, and the sooner
this uncertainty gives place to some thing
positive, to some act or acts, instead of the
ories, prophe5ies, speculatiOns, threats and
gasconade, the better will it be for the
country at large. -
Hogs will not now command more than
S., and at this price droverS viii not sell to
any extent, but continue to have them packed
on their own account.
Friday New York Evening Post observes;
Perplexity and gloom weighs heavily roon
every department of finance and business.
There is increased depression to-day IN E4-
change and Stocks, and q Greater dearth of
confidence in Money, with heavier offerings
for discount. The most unfayorable feature
of the market at this time, perhaps, is the
return of the stagnation in Foreign Ex-
change, the difficulty in negotiating Mercan-
tile Bills now being as great as before the
Bank measures of relief went into operation.
Good mercantile Exchange on Europe is
obtainoble to-day at par, and those suffering
at these low rates are beginning to look again
10 the Bank Exchange Committee for relief
1t is not understood that the late comm tee
are empowered to enter the market at pres
ent as the unanimous expansion of the
Banks was intended TO remove the evil en-
tirely, and consequently, If thought expe-
dent the measure must come up for recon-
sideration. The purchasesof this committee
in all were 100000. Best Sterling on Lon
don is quoted at 1O3@lO3%.
The Stock market last evening underwent
n slight improvement on the announcement
that Congress had adjourned till Monday,
but on the commencement of business to-day
there was renewed heaTiness, and prices
Suddenly fell to 8 per cent.
The same number of the Ecsning Post re-
marks:
The Paper market to-day is more stringent
than ever, and lists of frst-class Notes are
offering at l5@18 per cent. Call Loans are
rather harder at 7 per cent, and great eau
tion is exercised in regard to the class Of Col
laterals.
The Domestic Exchanges do not relax.
Philadelphia on New York is firm at 2@41I,
Baltimore 2H@2M. From points further
south we learn Of no change.
The Banks of the city on to-dsy's report
hold about SlS SOC, 900 in Specie.
Considerable ureasiness is felt in regard to
New England, and New York begins to en-
tertain strong doubts of its ability TO sust4in
the prominent points eastward, though the
country Banks of the near Eastern States
report less pressure of circulation. A few
weeks ago the return of circulation was in
very large amounts, but during the past
week it has fallen off materially. This let
ting up may be attributed to the fact that
the Notes were not originally circulated at
the extreme West, but confined to Ohio, In
diana and Western New York.
A general advance has occurred in Un-
current Funds in New York, and the rates
on Friday were;