The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-05-06


The banks appear to have been losing specie
during the week. At this season some gold al
ways flows westward, and the military movements
which have made one great camp Of the whole
North must have led to removals of bullion from
our banks. Last Monday they showed an average
OF s3S,s9l ,6s3a decrease of 81 ,S2s 5s7 from the
week previous. Bank officers seem to expect that
tomorrow further decrease of over mil
lion will be shown No apprehension of a serious
decline in the reserve need be apprehended. AT
the current rates Of exchange there is q handsome
profit on the Importation of gold from Europe,
and we understand that several parcels are on
their way Several packages of foreign bullion,
which arrived here some weeks since, and were
never opened, in the belief that exchange would
rise to point which would enable them to be
reshipped to England, have lately been sent TO the
Mint The remittance per Northern Light, re-
ceiyed on Friday, is also being coined. 1t is pro-
babe that the war will have the effect of carrying
more gold into the border slave States than they
ever held before According to the last bank state
ment the loans were sl4,sl7, l54-an increase of
sll5,s95 from the week previous. The banks
cannot increase their loans at present by
discounts of mercantile paper without mourning
risks which few bank managers care to encounter.
The government loans will, however, give them a
chance Of earning dividends They are all anxious
to lend on Treasury notes or government bonds.
Money is as abundant as ever on call but very
few names are saeable on paper. The public are
satisfied that the bulk of the great mere ante
houses which have grown rich by trade with the
South must fail in consequence of the wholesale
reputation by the Southern merchants of the
debts they owe to the North. II is also believed
that the arrangement in the Western currency,
brought about by the depreciation in the border
slave State stocks, on which much of that cur
rency is based, must lead to grave embarrassment
in the Western trade. For these reasons mercan-
tile paper is unusually slow of sale. 1t il proba.
BILE however that the fears of capitalists exagge.
rate the crisis, and that but few suspensions will
occur, except in the Southern trade. Yesterday
was much better weathered than was anticipated.
We are glad to say that both banks and merchants
meet parties seeking extensions in a very liberal
spirit.
Foreign exchange fell last week to IO4 a "a for
bankers bills on London, and l03 q for mer-
camille names; for francs to 5.421l Az for the
best names. There never was a time when there
appeared to be SO little demand for bills not
withstanding the light exports of cotton the sup
ply Of exchange seems far cyond the wants OF
the importers This VIII be bad news for TO
reigners; not only because it implies cessation
of remttances, but because il leaves a handsome
profit on the importation Of gold from Europe,
and will again oblige the Bank of England to
raise the rate Of interest Occurring stimuli
taneously with the actual outbreak Of war among
Us, tits likely to cause sort Of panic in England.
The following table shows the course of the
stock market during the past week aud month