The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-29

the United States Collector, and upon the app.
ment Of State Collector to issue clearances
sells arriving in the ports Of Liverpool or Hav
with olearances in the name of the State Of Loui
ana will learn their error to their cost And We
sells entering at the port Of New Orleans with fo
eign goods will if they attempt to enter such good
at the State Custom House, incur the penalties Of
the United States laws against smuggling. The
article Of the Picayune is as follows
We notice by the report this Afternoon. that
OF the leading ship brokers cleared the larger
Of the vessels under their charge az tue Custom Horse
to-day Others sill pursue The same course The nrus
in question do not anticipate any difficulty after tho
secession OF Louisiana from the Union whi will proDa
bly, take place at the close Of the week buiDany II the
shpnasters have got hold Of dea that their earss
will not be a legitimate after that event Somr
the shippers share the same opinion To us these
Galtles appear imaginary. louisiana, a. part Of
sovereign, and perform all the functions who
de facto government is called upon to Ill., After
throw OF the Bourbon dynasty IN July, 1890 an tbs
Louis Philippe In February, 1913, was Ut the clear
Of vessel fr ,m Havre ana Bordeaux the 30lh j
1880, and the 18th February ls4s, 10 every respe,
valid on the 10th July $780, aud the oath Fs,rs
l848f We are now equally in the midst OF a
observation-disclosures, II is true, but not waotng
the attributes o. stability which the majesty
pie united in one common sentiment coufer Az
the doctrine Of coercion and war growing out OF 1t,
condition Of vessel sailing under the and STRIP
would be then quite as exposed as that of one saih
under the Pelican flag, having its papers certified
Mr. Hatch under thu authority Of the independent ca
monwealth Of Louisiana. We hear that IN Mobile q
ference OF &c. is made In the rate OF freight, |
the prejudice Of vessels cleared and those tAs
despatched at the Custom House prior the ord
the caprice Of the bill takers Here there s also o
ference for foreign bottoms but to the extest
Freight room generally Is SO scarce that shop
glad TO get hold Of il on any terms. Cotton Is rolling
rapidly, and the amount of tonnage s quite dispropor
tionate TO its removal TO our ports already hear
engagements at penny and two cents pound
The annexed review of financial affairs in Loa
don, after the late advance of the Bank of England
rate, will be Of interest to our financial readers
II is copied from the London Economist Of Janu
airy l2:--
Notwithstanding the rasi the rate to Der cent b,
the Bank Of England the demand for discount there ,t
continues very active. The demand is doubtless yur,
much increased by the discount no acting with
extreme caution in prepa ing themselves Tor any ges
cy that might arise by taig their discounts, whsl
necessarily throws additional apple the INK
England This is nothing than the natural resu. u
the resolution the Bank has Of refusing reds
count their paper Az we have more than remarke
this resolution does not the Bank from III. inconve
nence Of being called on when their Is che,
discount quite much, and probably than beisr,
they to the resolution they d,d but with this differ
ence: they now discount their paper "ihom TIE
of the discount houses iststedd of nth Il
The rule Of the Bank certainly has this effect that
compels the discount houses to keep much larger
serve Of bank notes, and consequently the public suna
in the accommodation that would be afforded them bu
for this compulsory locking up Of capital; and there
taDly does appear this amount Of anfairness thu
ter, that the Bank Of England and do the
they compel the discount houses to keep, VIII CHI
stitutes portion Of the reserve Of notes he'll ny
Bank In discountng with the money belonging to ths
discount houses the very bills wch they refuse dss
count merely because they presented BY dis 0un
houses thereby transferring the profit which eqntab,
belongs to the scOnnt houses to itself And this tn
Bank is enabled TO do with impunty because It know
that IL it discounts and its Is reduced
nil the directors have only apply the governnsn
for letter to permit them TO infringe the law ant the,
obtain 1t. This certainly does seem very hard
we mention this now because may be attended shsul
the drain of bullion still continue, with very grave
sequences to the Bank
Money although the rate is high continues abunia
We have heard OF nothing however, being DISCOUNTS
under 6 per cent The discount houses acting wu
great caution and although they discount bills having
great bulk Of the paper presented The arrival Of tn
Persia expected to and the ivices by her vii
tend greatly TO guide the future Of the money market
II the American exchanges come lower and the drain
bullion continues either to France America-and b
the latest advices from New York the exchange shows
symptoms Of going iower-a still further might B.
anticipated On the other hand II 1t rises TO 1O5k Y.
the Mint Of the United States only coin $3.50 O0o
week, the delay, with the rate Of money pr cent
SO great that would tend TO parsyze transactions
might cause q suspension of remittances o. bullion
But the most serious Of alarm the state VI tn
Bank OF France, and believe, French fnancs ak
gether corn and cotton have much TO do with The
but these causes may be greatly aggravated BY arecs
expenditure.
Today the demand for discount at the bank sndL
Lombard street has been active, but money continue
very abundant, and the least Improvement in America
affairs would be Immediately followed by In ID
money market.
But for the present. we see no sign Of an easy none
market Gold continues to be exported both to Franc
and America and and cotton continue 70 be h,gha
here than they are there, and the demand tor them
apparently as great as ever. One good feature d
lee In London and New York have approximated an
therefore, the temptation to send gold out To buy thes
OF the purpose Of selling them here NO longer exists