The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-02-04

Since the last statement was made up they have
received from abroad about three millions of dol
lars, and q million or Whereabouts has been dis
bursed from the Sub Treasury in payment of go
vernment warrants. Against this must be set
the loss to the South, something over million OF
dollars. The last specie average $2S, 96s 94l,
q decrease Of 1929 s42 from the week previous; at
the corresponding date last year the banks held
$40, 060, 739 in coin. We are beginning to receive
some gold from the West, but as yet it comes
very slowly. When the Western country begins
to make its purchases for the spring. large por-
ton of the gold which is now going South for the
purchase of cotton bills will come back to us
through that section. The non-payment by the
South of debts due to the North is enabling the
Southern banks to accumulate gold; the banks
of New Orleans now hold the unprecedented sum
Of $16, 289 1868. The last loans average of our
banks was 1923 1886 ,l53, decrease of ~, 1851
from the week previous; at the corresponding
date last year the loans amounted to 1928 $50.
1t is supposed that the curtailment of loans
which commenced few weeks since has about
reached its limit though the dupess Of business
must soon repder it matter Of difficulty for the
banks to keep their line full.
There is no positive change in the money mar
ket since last week, but the supply of money is, if
anything, rather more abundant. On call the
brokers are borrowing at various rates from to
per cent, according to collateral, amount Dor
rowed, &c. 1t is difficult to place large sum
above five, but parties who 60 in search of money
on railway stocks generally pay seven. The
choicest mercantile paper goes at seven per cent.
This is however, strictly prime paper, and the
names are such as are not likely to be injured by
present complications of politics. Ordinary good
paper such used to go at seven before the cleo
tion now sells at a 10 II; and very fair names
can be bought at IL 10 per cent. The names
most CAREFUL, avoided by lenders those of par
ties who are Supposed to have heavy amounts due
to them at the South. 1t is of course impossible
to form any accurate guess at the amount of the
Southern debt to the North at the present time
1t has been suggested by some leading bankers
that the aggregate amount of Southern indebted
ness to the North must be not less than sixty mil
lions of dollars, at least half of which must be set
down as very doubtful. But there exist no data
for a reliable estimate on the point
Foreign exchange is dull, at a small advance
over last week Leading bankers ask l07 for their
co day bills on London, and $50 for francs; los
Il for short sight bills London, and 5.2l1 for
francs. At these rates there is no margin for
country after freight, insurance and commissions
are paid, though the rate is still considerably be-
low the conventional par between the two coun-
tries. 1t is not likely that any more specie will
come here after the steamer of oath January ar
rives out; but between this and then four or five
more millions may be expected. The future
course Of the foreign exchange market will de-
pend largely on political events if any compro-
mise be effected at Washington, exchange will
become active, and business will revive. If, on
the other hand, matters remain unchanged, or
grow worse, SO as TO create further interference
with cotton shipments, the supply Of bills will
fall of and the market will again for time be-
come stagnant. few purchases of Southern
cotton bills for New York account are being
made at Savannah Mobile and New Orleans; but
rates arc very low, especially at Mobile from
which port ships are going TO sea with State
clearances.
The following table will show the course Of the
stock market for the past week and month";