The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-12-17

Since January s24 s23 1874 69,207,576 43 366, 423
Tho banks will probably show gain Of specie to-mor-
row Their last average, which was a rising one, was
SIS 500 743 Since then they have received mil
lion from California and something from the Sub Urea
sury which institution the balance yesterday stood at
80 563 CSC against $3125 800 at tho close OF Last week
small amount OF gold has gone South, to New Orleans
and Mobile, but not enough TO affect the average The
Europa, which arrived yesterday at Boston, brought
$3.50 600 in specie and the Atlantic, which will arrive
tomorrow or next day, will probably bring million
more At least million is expected by the Persia on
Thursday and Saturday much will be due from Cali
forna The prospect is therefore, that our banks have
touched the lowest specie point for tho season II not
likely that the New Orleans banks draw much
gold from They hold eleven millions at present which
about much they expect to hold Every other
section Of the country owes specie and the state of
the foreign exchanges combined with the decline in
imports indicates renewal of specie shipments to
Europe So far as banks concerned, therefore,
they may be considered to have passed the point
Of danger. The experiment which they made three
weeks ago proved perfectly successful The banks
will their assets with care, and they must
make UP their minds lose something in consequence OF
the mprobablity of making collections in the West and
South but their safety Is assured-it all events
for the present.
The money market is unchanged There is plenty Of
money everywhere but trusts his neighbor,
willing to buy paper. On call on the pledge Of good
stocks any be obtained At per cent per an
But the best paper goes a, IL Is per cent and
very little business rs done at these rates. The
banks discounting literally could be expected
though much css than the merchants require To realize
the state Of things be mind that the
ton hardly any paying his debts and in the
West the currency has become deprecated that
change on New York has risen 10 10 per premium
and remittances have ceased in consequence Hence
general want OF money among jobbers, which has area
dy caused many failures. and must many more un
relief be speedily afforded The crisis viii probably
have the effect Of putting end In the future, TO tho
long credits which jobbers have been accustomed to
sell TO parts Of the country.
Foreign exchange auctuated during the week II
opened with pretty hrm market but closed yesterday
dull and lower. The asking rates at bankers are from
los 1Os for sterling but very little business is done
the latter figure. Good mercantile bills can be bad
100 l02 and documentary bills below 100. Al Of
the Southern ports 95 rs st the quotations or the
bcs, bills These low quotations arise part from the
fact that the country owes little or nothing the
foreign world and partly from the want Of money among
buyers Of bills Al New Orleans, for instance the banks
and private bankers have compelled BY the hnan
cai strngcncy buying exchange while Northern
houses have restricted their operations all the southern
ports consequence Of the mcnacing aspect Of political
Affairs Here the leading houses have already RENTED
for their spring business the weak houses have made
their collections and have money TO buy balls. The
rccep, Of gold from England win naturally impart
activity 70 the exchange market Tho suAs ,nas re-
rcinvcsted in bills; but for the present
look FOR no material advance in exchange
The following Table will show tho Of tho stock
market for the past week and month