The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-06-24
FINANCIAL AND CONNER ClAL.

The foreign commerce Of the port continues to
reflect the consequences Of the war and the Nor
ri!l tariff in reduced imports, and merely nominal
exports of specie, while the necessities of Europe
compel continued increase in cur exports Of
food The falling of in our import Of foreign
goods since January is now more than $35 ,000,~
COO as compared with the corresponding period
Of 1860, and $43 900 900 compared with the cor
responding period of 1859; while the increase in
our export Of produce during the same period lis
SCI 900 900 as compared with the same months of
1860, and $3l 900, 900 as compared with the same
period of 1859. As to specie, we have not only
lost little or none Of that which we have received
from California but we have imported from Eu-
rope fully $40 600 600 of foreign gold since tho
year began. The following are the Official trade
tables Of the port for the week.
IMPORTS
For tie Wax 1859 1890 1aAt
e pr .,sasi Sc, 'ss ss
Total fer the wses s. $40 1853 8,s1. SOS 1850 9ss
Previously reported. li26s5ols lc6 Is557 1850 SIS
Since jan loo. Silt 91es e6 100 $50 0S2 a. 9Os SIC
80 ExPo2Ts or PRODUCE AID kERcaAsDIsx
Fer tss Wesa; $.et9lis s,sSssss s,sssiis
Srce Jan. l... $50 csl cas- 402so, 574 Ga 247 sss
go ExpCkrs saECgE.
r rss as sspss:d iss S
s.,cs Jan. I.,.... 500 ,ssse4S 1oaes,424 s,14l21s
The banks continue to gain specie. Since last
Monday moreing the Mint at Philadelphia has de-
livered at this point nearly g. 500 900 Of coic and
the ubTreasury continues to dsburse money in
excess Of its receipts. Siuce the Morrill, tariff
went Into effect, indeed the receipts from Gus
toms have been nominal. Last Monday the banks
showed specie average of $3S, 280, 2II, an in
crease Of 81 343, 186 from the week previous they
are expected tomorrow to show nearly, f not
quite, forty millions at the corresponding do to
last year, when we were exporting specie freely.
the banks held $24 ITO 653 in coin. The loans are
expected tomorrow to show considerable de-
crease, the general liquidation and contraction in
business reduce very seriously the volume of desi
rabe paper that is offered for discount It is evdenk
that our banks will have to rely upon public loans
for business during the war; and it is to be hoped
that the loans will be 80 arranged that our banks
can assist IN their negotiation without weakening
themselves unduly. 1t must never be forgotten
that the moment a bank manager allows his
patriotism to lead him astray from sound business
principles in the management of his institution.
that instant he lays the axe at the root of his OWE
usefuiress AT The corresponding date last year
the loans averaged sl25 ,s37 last Monday they
were $Il5 ,494,S 1921.
There has been no change ia the mouey market
during the week. Money is very abundant indeed
on call, on good security We quote call loans at
s 6 per cent, with occasional exceptions below
6. Capitalists are still very shy Of paper, and
none but the most uudoubte6 names are current.
Strictly prime acoeptanoes are wanted by tho
banks and at the discount houses, where they psss
at per cent. But the crest bulk of our laer-
camille paper is not negotiAae at ALL or only at
extravagsnt rates. Failures continue to occur
Two very respectable shipping firms went to
protest yesterday Az was expected, each week
has it's catalogue Of disasters Of this character;
these accidents must Of course continue to occur
until business is re established on sound basis.
Southern repudiaton alone sufices to account for
an immense number of failures. Opinions are di.
vfded with regard to the effect Of bankrupt law.
Some merchants believe that q wise well guarded
measure Of tits kind would operate bene6cially on
credit, would assist the recovery Of trade, and
prove a. barrier 70 the frauds Of which crises like
the EreseSS az ~ lsai%pA. Others, agein, hole