The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-11
FINANCIAL AND COMMERCIAL.
SUNDAY, March 10, 1861.


the jobbers are selling goods to the near By
cities, and preparing for fair trade with the
West and the border States in April and May.
Several importing houses report increased activi-
ty in merchandise. With the cotton States, of
course, there is no business doing that is worth
mentioning. The rush of the last week in Fcbrua-
ry has quite subsidized, and it is evident that the
new confederacy If it does not pay the debts it
owes. will not increase them at present. Planting
is proceeding with vigor in all the cotton States
and there is prospect that the trouble in the
South will diminish very materially next years
cotton supply The imports at this port continue
very light, as compared with last year, while the
exports of produce continue to exhibit very re-
markable increase. yhe following are the COM
parative tables CT the trade of the port for the
week and since January Il
1850 1860 1851
Dry goode ..... SIS SAT col s45 c63 lt10028
General merchandise. 2,l61,To6 S,2ss,l4 1,4S2,71l
Total for the week s,5i4767 4ls3,3s7 2sss 7sp
Prev oosy reported. 81 s7s,26S s54 A42l sTS
snce January l. ;. s48, 800 oas IA a7vM, 472
ExtoRIs otsI'Rcpgcg AND MERCHANDISE
Total Tor the week. 4s4,sl4 sose372 24e7 0Ss
Previously reported 746l a0l IL Sal 967 81 42I 53J
sirce January e3s ol5 l3,e3s $3.50 % 9ls sos
EXPORTS or SIxcR
1859 1860 1851
For the week. 1865 ,s54 667 ,as2 None
Previously reported. 37s 9l7 1924 c4s LIZA 500
Since January L.. yse 2y1 29e2,l3o I,I74,so5
The banks will not probably show any increase
of specie tomorrow, as their last average
$34, $50, 407-was a declining one. But more gold
is on the way from England and advices have al
ready been received at the Sub-Treasury Of drafts
which viii deplete its vaults at q rapid rate. Be-
fore the lst Of April all the gold drawn out OF the
banks will have found its way back again into
their possession. BY that time, also, we may ex-
pect to begin to receive gold from the interior in
exchange for goods; SO that, for the present, the
prospect Of an unprecedented accumulation of
coin at this point continues very good. As was
anticipated, the award Of the recent loan enabled
the banks to increase their loans. which were last
Monday sl2l 1893 ,963-an Increase over the pre-
vious statement which was sll9, 1856 200. We may
witness a further increase tomorrow. Directly
and indirectly the banks hold very large pro-
portion of the SO 900 900 of federal stock awarded
last month, and also q large proportion
Of the new Treasury notes. These public
loans have been godsend to them. Had il not
been for the government, the bank loans would
have run down to sl15, 900 900 or therea bouts In
consequence Of the liquidation Of business. fur
ther loan will probably be asked for by the govern
ment in the Of sixty days and the interest Of
the banks, well as the spirit of speculation excited
by the profits made by the takers Of the last loan
viii be likely to insure a very large number Of
BIDS. Nothing has yet been heard here Of the
Southern loans. The Confederate government is
in the market for 81 OO0 and each Of the States
for smaller amounts; but no attempts have yet
been made TO place any Of them on our market.
In the opinion Of our Leading fnanciers, the doc
trine OF secession would operate fatally against
any financial negotiation in this market BY the
new confederacy.
The money market is scarcely as active as it
was a week ago, though rates remain the same. |
First class names, which are very scarce, 20 at |
al per cent, and the brokers borrow on call at |
the sane figures. Names less popular, ana paper |
which is suspected Of representing claims in the |
Southern States, range from - upward, and q |
large number Of names continue unsaleable. The
prospect Of the money market does not vary |
Whatever happens in The political world, we must
have plethora Of money in New York. Whether
we have peace or war no means can be devised |
for the employment Of our immense stock OF |
lily, lie idle THE summer in the banks at loss in
interest Of over 100000 q month. On the other
hand, the prospect Of dear money market in Lon
don continues decided At latest dstes an cd.
vance ia the bank rate 10 d 10 was generally an
ticipateo; whether this il done or net there is no
present chance OF ony reduc ton.
Foreign exchange closed yesterday pretty
steady for The Editburg. Bankers sold their
sterling bills at 1861 LOG, and francs at
5.32% 81. There il a scarcity Of commercial
bills it market viii h, II the importers we're able
or needed TO remit more largely. would soon cause
an advance in rates. hut very few Of the import
ing houses are iusb with the exception OF some
Of the Oldest and richest, and they have already
RENTED in full, hence the dulness Of the market.
At JOG FOR sterling bills, there Is no profit en- i'm
portatons Of god from England, so long as the
rate ofinttrest there remains az per cent. After
the lapse Of ten days or fortnight therefore, II
will not be safe 10 expect further Cow Of specie
TO this country unless either exchange should
rise, or the bark rate Of interest fall The Adri.