New-York daily tribune., 1861-05-03


-IIe :n'e 1873 iot
Same tige d''4
The shipments Of heavy Drills and Domestics to
Gina still continue. and give force TO the market,
while the trade in al other departments except goods
signed for the Army equipments il peadec entirely
III has been a perfect panic in the general Dry
Goods circles during the week aud some OF our irs,-
ca-s iobOes have been obliged to ssa exenslJDs. TIE
fact is patent that the jobber with large surplus,
even lis engagements if his reccipis arc
entirely ca, OIL lie may be mel in available
as they 70, tie presenet it adordf hn n relief
frpm bankruptcy aud ruin, for his engagements must
be met without default.
~, practice Of selling singlensme dry-goods paper
in the street adopted by the commission houses is
productive Of great Inconvenience if not of peril 10 the
iu jers. In tines OF panic and distrrs the market is
50 o,eloaded with paper that credit is at ouce dr-
s,roy ed a. every back and capitalist having invested
their surplus fnnds in favorite In times Of
pnd confidence, become eager TO realize tie momeR
they fnd The parer less current, and panic cranes.
II the ioLber voud limil his butiuess 70 The credit
which could be .foried him By the agents ana manu-
i.eturef--wi hout resort 10 ile street.-the would save
no dieulty for lie could icsst upon making his notes
payable - the party IN interest raibes than giving
them IN bis own order aud thus preparing them for
an limited ciruultion Tus might involve the idea Of
giving shorter paper bat house thai J. allowed line
OF sJo 900 in eight montls purchases, could obtain
mucb larger amount On four months plrchafes Tor the
guaranty would be iess, and II would be
Within tie bank limit, and thus afford Ia
ciiities TO the party receiving tho paper. The
agent oF manufacturer could give twice the amount
Of credit on four mouths bills that they could on eight
months. which is tie recognized time domestic
goods B.rdes, the system Of ceiling paper IN the
open market gives hctirons credit 10 weak mer-
chaui ani invites him to expand ME busness beyond
thai pon, which prudence would dictate, aud forces
e strong merchant compete with the weaker one,
who il Obliged T. eel! ais goods FOR cash, hoes in
order 10 NEE, his increasing liabilities and, in The gem
eral sIus Of the c.ase, II practically destroys tie
credit Of our beet houses, copels item 10 anticipate
tL.ir payments By puroaasins tio.l ,n ad-
yuncc Of tier msiuriiy.
Credit i the basis OF all mercantile operations, and
~ben that "a disturbed by real sr cied causss, the
whole fabric f,s. II our banks had tie eantdepce
Of the community they could not staod day. THUS,
Our New-Yor& joLbers are strong when confidence
exists md the weakest party ia aLci and i Is their
imperative duty 10 destroy syetem which is cal able
Of % much disaster.
We bave no change TO reTor. in the general market,
and prices Of goods Tor general consumption are with
oui important decline bat for goods forced upon the
IN srket concessions are made.
TIE manufacturer Of Coitons making prepara-
tons 10 reduce their production We hear Of general
movement n that rcction he Eatt wuich contem-
rl1tes the soppages OF the mls at least one-naf the
ime.
Thi, has been forced upon the mill owners by the ae-
ton OF the commission houaes WHO decline making fur
ther advances consenmenis.
IL is idle to suppose that any commission house could
.e pooGs even the best jobbcrs paper, at nt
with the expectation Of meeting their own accept
ances
AZ financial operation, it would be far better for
them to purchase their customers paper at 2l@io* v
cent per anuum in tie street and elect such names ~
are Of the fiIst clsss.
Tie monthly table of marine losses for the past month";
shows an aggrega,e Of fity-seven veaei' OF which
eleven shTs, eight barks, one barkentine
eight were bags aid twcniy-nine were scbooners
Tie total value Of property lost aud missing was $l'
AZ 400.