The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-07
FINANCIAL AND COMMERCIAL.

SUNDAY, Jan. 6, 1861.
The new year opens with very dull state of
business. The great staples Of the country have
recovered in price from the lowest point of pres
sion both cotton and breadstufs are considerably
higher than they were. But all kinds of general
merchandise are slow to move, even at prices far
below those which ruled in October last. Our
imports are small; our exports large, though
gradually growing less. The exports of food dur
ing the past few months have been the heaviest
ever known in the same period Of time and con-
trary to general expectation they have not de-
pressed prices in Europe. We shall be able to
present readers, in a day or two with the an
nual tables Of the trade of the port for the year
1860 in the meantime we Join our first weekly
return Of imports of foreign merchandise for the
year 1s6l:--
IMPORTS FOR tue WEEK.
1852. 1860 1861
General merchandise. .s7lsel6 1854 1901 ,225
Our banks continue to accumulate specie. Last
Monday they showed an average of s23 275 ,05S.
since then they have received about three millions
from England and from California, and have lost
but little to the South. The Sub Treasury balance
has increased in consequence of the recent award
of Treasury notes. 1t stood yesterday at
50 Gas ,437 against az 222 67 at the close of last
week. The prospect continues fair for further
Accommodations of gold at this point. For month
TO come gold must come here from England and
there is prospect Of our losing any substantial
portion Of our California receipts. The bank
loans last Monday stood at sl3l ,3l6 25s-a de-
crease Of 1896 O4l from the week previous. SIEVE
raj of the banks appear to be preparing for the
new regime which is to 60 into force the ist of
February. when they are all to keep twenty-five
NOR cnn. n THAR liabilities In cain IN hand AZ
the money market eases up the street lenders
will come to the relief of the banks, and the dis.
counts may be curtailed without injury to the
mercantile community.
Money has grown easier during the week We
quote call loans at 6 per cent; first class short
paper, ga 10; fair paper, IL 10, and names
not generally known all the way to three per cent
month. The difficulty continues to be, not
scarcity Of money, bug want Of confidence
The failures which have already taken place, and
those which cannot fail to occur if the present
troubles continue much longer. deter men of
means from buying paper which may, in any con.
tingency, fail to be met. The government last
week borrowed five millions at twelve per cent
very high rate OF interest, no doubt but no
higher than was paid the same day for the obliga-
tons of parties who manage their business far
better than the government Of the United States.
Recent political Developments. combined with
the new stand taken by the President, are likely to
enable the United States to borrow on better terms
by and by.
Foreign exchange is rather dearer than II was
week ago. Bankers bills sold for the Saturday 5
steamer at 100 "a and at 537ls for francs. Mer.
camille bills growing scarcer, and bankers are
not very anxious to draw. The exchanges at New
Orleans were higher few days ago, and a good
business was done in cotton at an advance; the
rate has since fallen to about 1927.
The following table will show the course Of the
stock market for the past week and month";