The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-30
FINANCIAL AND CONNER GAL.
SUNDAY, Sept. 20, 1851.


~~~N~~~>>~~~>~o~~~>~~~~
SUNDAY, Sept. 20, 1851.
The imports at this port for the week ending |
yesterday again illustrate the economies which are
being practised by the people of the United States.
1t seems that we only took from abroad last week !
one-ffth the amount # foreign goods which we |
took during the corresponding week last year, and |
less than one-sixth the amount which we took dur
ing the corresponding week of the year 1869. Our !
exports of produce on the other hand, were in ex-
cess of the corresponding week Of past years, and
largely in excess of any former average. Our ex-
ports and imports for the yearto date are with
in million and half Of each other. The follow
ing are the official tables
Fby the aUesk. 1859. 1900 1881
Dry goods ......... 81 $4,000 1,so9,a05 3o3,92b
General merchandise. ,al4 2,25S,2GO S4s,lo6
Total for the week Sc, 900 ,oos 4oo7 ,565 SAT ,Osl
Previously reported 1877 ,SIS,T2o 1T 34362 97O7S,iS
Since Jan L.. 1892 1855 6el 1871 All 1877 OF $40 $50
ExroRrs OF PHoDuoE AND MERCHANDISE
For the week....;.;. 500, 800 2i7ssGs 2,asssss
Since Jan. 1.... sas4ss,S7s eesOl $50 % ol4 sos
Eoears OF sPEoE.
1859 1890 1891
For the week..,..,, sl,4l4 800 eoo,7co s4oo
Previously reported, 62s73,9so 3s9G4652 32l2,sa9
Since Jan. ... s54 2ss ,57o so ,se5 1852 s246 276
II is generally expected that the bank specie
will show small increase tomorrow. Last Mon
day The average shown was $50 sos ,l77, being
decrease of 1924 1885 from the week previous; an
average Of s3s coo would be very satisfactory
tomorrow. AS Mr.. Chase's drafts DO not come TO
hand, being used in fact as currency in the West
the Sub-Treasury balance continues quite heavy
here-say thirteen millions of dollars--and hence
tie banks have not been called upon to pay I'D any
more instruments Oh their fifty million loan. Next
week, If the drafts make their appearance fifteen
to twenty per cent Of the thirtyfour per cent still
liable to be called for will probably be called in
Six weeks have now elapsed since the banks placed
their specie resources at the disposal of the &C.
vernment. AT the time they did so, they held
about $4,000 600 in coin, and the Sub-Treasury
about "a, 600, 0C0:--total $52, eco 900. They now
hold over s37 300 900, and the Sub-Treasury
about sl3, 200 ,G00:-totai over $50 600 OOO II
thus appears that Notwithstanding the heavy pay
ments i'll coin made by the banks to the Snb-Trca-
sury, the actual stock Of coin in tie city has de-
clined scarcely two millions of dollars in six
weeks, that being about the amount which has
been transferred to the West and il there retained
in circulation Comparing the present with past
periods We find that at this time last year the Sub.
Treasury held IS 22i GO0 and the banks $40 1T 0se
total $25 40l ,0SGabout half what is held Just now
In 1855, '56 and '57 the aggregate amount of coin
IN the snb-lreasuIy ana New York city banks
averaged sl6 100000 SIS, 900 ,0Go say one-third
what they hold at present. And at that time the
foreign exchanges ruled almost invariably against
the country so that not only did the whole bullion
supply from California so abroad but ii was with
the greatest difficulty that our necessary bank
reserve was ken. here, and at last, in
1867, it, too, B61ka TO be shipped, AMI
the banks lad to sarTend. Now, on tie contrary.
the foreign exchanges arc decidedly i'll our favor,
gold is arriving by every steamer and our banks
are not only fortified by monthly supply OF
81 800, 900 SO 900 900 from California but are &C.
tually drawing more than this from the banks of
England and france
Money is very easy. Some brokers ntpue to
pay per cent for call loans but money is offered
IN large amounts at S. Very choice short mercau-
tile paper goes at per cent; I 8 are more gene
ral rates for good paper, and one per cent month
and upwards for less. popular names. Merchants
are doing smaller business than usual but there
Ia less trading credit, ard the probability is chat
there will be lnorc profit actually realized in no.
portion from this falls business than there ever
was from the trade Of any previous season.
Foreign exchange lost last week the whole ad.
vance OF the previous week. 1t is difficult to give
closing rates with accuracy. 1t is probable hoy..
ever, that the best bills could have been bought
yesterday at 1921 a q, and some very excellent
bills, with f-reign bank acceptances at 1917 70.
Mercantile bills ranged from 1867 to lo71I. Tie
collapse III the market was assisted Nv tho very
heavy purchases of grain and -four which were made
during the week for European account; also by the
government announcement that no further inter-
ference would be attempted with moneys belonging
to Southerners and sent here for safe keepinr.
The exchange is undoubtedly against Europe, in a
normal state Of the market; if it is let alone and
no violent perturbation be caused Ivy unforeseen
accidents, we shall soon again begin TO import
gold heavily. The new Treasury notes, which will
be freely taken abr ad will serve Ga remittance
and will tend still further to depress the price of
exchange.
The following table shows the course OF the
stock market during the past week ard MONTH