The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-06-17

& Care OF General cot tpat gooc old colder, "
sreaueeted to retain it until General Davis calls
s;r pefson.
4->~~>~~~>s~~~>~,~~.~. ACKNOWLEDGEMENTS.
FINANCIAL AND COMMERCE.
N. SUNDAY, June lS,
The foreign trade of the port conticues
hibit the features to which we have 80 freq
drawn attention this year. The imports,
ciaily of dry goods, continue very moderat
export of specie is nominal; while. happily
country the export Of produce and merch
still exhibits handsome excess over last
The folio wing are the trade tables of the p
the week.
For The tueeh. le6Q 1850.
Dry Gocds.... ;. ~. $724 .Q5 232 POI
General merchandise. s.1Ts2le 2.63e SAT I
Total for the week. SO 899 asa $500 sos 2.
Previously reported ltS6s6, $50 lo2 27a Tao "
Stree Jan. H.. .si12 ,5s5 ,9i3 log ,is5, SIT rs
EXPORTS oF PRODUCE AID kEscaMpIsx.
1869. 1860
For the week.. ...$l,eC0 042 1871 727 z
Previously reported. 81 SIS ass SO os8 b70 s5
Since Jan 1.... .$2s ,5l5,4 o7 S7,slo,e0s 81
1859. 1860.
For the week 81 926 49l $50 8s1
Previously reported. 90 2A2 685 II TlTll6 q
Since Jan. L.. 80 s2s 1859 o7e 1880 ss1 q
It is presumed that the banks will show
crease of specie tomorrow, as the Mint m
beginning to return some of the gold sent I'd
age. The SubTreasury lost money duri
week, having sent million to Washingt,
sides paying some heavy drafts here. Col
tinues to flow westward. yet not in such
ties as to affect the bank average. 1t need
be added that no gold comes from the So
the acts of reputation passed by the reb
gress at Montgomery prevent the few hooe'
chants of the South from paying their debts
had the means and the will 10 do so. Last n
the banks held $50, 1897 OPS in coin, deer
s665, 377 from the previous week: at the
pondirg date last year their reserve az,
$50 ,760,384. The loans continue to declil{
witbstanding the recent award Of gove1
stock and Treasury notes. Last Mvndaf
stood at SLY 500 076, a decrease of $78l ,l0''
the previous week: at the corresponding das
year they stood at $l26, 1874 $50. All I'll
banks are pursuing prudent course, and
dealing literally with customers whom the Y
Crisis has disabled, are not increasing the
ness. The volume Of mercantile paper I
MAJ ket, exclusive of notes renewed, Is nov,
small.
Tie money market Continues to pres
same features as for the past few weeks.
is very abundant; parties who have the rig.
lateral can borrow any amount at 6 pef
Short first class acceptances are readily pa
six, and longer paper, same grade, at sey
cent. But the bulk Of the names which ha II
tofore been saleable at the brokers' ofic
pass with difficulty evenat very exorbitanl
Jobbers' paper is almost uniformly discred
general conviction obtains that, will
few exceptions, our great j0bbing
must 60 to pieces sooner or later
under the circumstances, even tn
four per cent month proves too
IN inducement to persuade capitalists to b.
paper. This conditon Of things has led Y
discuss the old subjecti Of bankrupt lsl
from the shape the discussion has taken it \
inferred that at least an attempt will be "a
inouce Congress to pass one at the coming
Without bankrupt law commerce cannoX
from lis present depression. With ex,
few exceptions, our mercantile communi
whole is embarrassed, and the only men
their enterprise, experience and business
arc competent to restore vitality to ou
when the proper time comes, will b.
pacitated from doing so unless a b.
law relieves them from the pressure Of til
sent liabilities. Many years experience El
without such law has convinced our abld
oInists that the want of . bankrupt law O
door to inrumerable frauds, places theyjl
debtor in The power of aremorseless credit.
deprives enterprise Of q necessary safeguA
che SIX, .1hat,want, moreover, has agordd
raj Of our State Legislatures pretext fol
actment Of laws assimlatiDg 10 bankru
which have operated almost invariably
injury of commerce and to the detri
credit. These views, we believe. ar
rally entertained byg those who ar
familiar with our Icommerce, anf
competent to advise regarding con
legislation. They wouA in all probabi,il y
been laid before Conf Fess in an autl
shape some time since had fitting opp
presented ITSELF That opportunity is now
by the unparalleled crisls through which 4 N
Try is passing; and we 10 not think we
fol ha +
mercantile public On TIP subject Of gene
dent and wisely framed bankrupt law, 3
found 10 be overwhelmingly in faUy Of
sure.
Foreign exchange was duh all las
The closing rates were, for barkel
1857 q for sterling, and 5.36A