The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-01

Previously reported ii547s5s l7Oss,ol4 2ssol,all
Since January 2ss 1871, 500 so,a7s o5s
EFFORTS SPEuE
1859 1850 1881
For the week ......... S20S, 9s5 465 us 6,0as
Previously reported. 400 $500. 500 1892
Since January H.. s7,2a4, a9l a,s7l,s7s 1,457,4ao
The banks, of course, continue to gain specie.
Last week they showed an average of $50, 4s0046,
an increase of 50, 260 $40 from the week previous.
The receipts of gold during the week from abroad
have exceeded 81 200 600, and the Sub Treasury
has lost money. 1t is understood that the Mint
has sent fair amount of coin TO this city during
the week. We must expect, therefore, that the
average 10 be shown tomorrow will be in excess
of $40, 000, 900. The average to be made up on
Monday April 8, may show further increase
over this, but after that date the course of the
bank average is uncertain. 1t is pretty clear that
we shall receive no more specie from England, for
the present at all events. And it is not clear but
that we may begin to ship coin to Europe within
week or two II is everybody's interest that we
should get rid Of some of the surplus money which
is lying idle in our banks; the exchange market
yesterday looked uncommonly like rising to the
specie shipping point. In the course of few
weeks if the people Of the South pay their debts
to the North honorably, the exchanges will turn,
and gold will flow from New Orleans to New
York. As a general rule, the supply Of specie
received here every summer from the South
amounts to many millions; this year it is said
that seven to eight millions will come, if the
Southern people pay their Northern creditors as
usual On the other hand, the West will take
some gold from New York this summer. The
amount Of produce Of every kind sent forward by
the West during the year which commenced on
LIST September last has been beyond all prece-
dent, and the quantity of foreign goods con-
sumed at the West has not been in pro-
portion. A part Of the produce sent for
ward will doubtless, be used in liquidation
Of old Indebtedness But there will still
remain balance, which, sooner or later, the West
viii take from in gold. 1t stands to reason that,
a. the Western country increases In population
and wealth, it will want to improve its banking
systems, and to infuse larger amount Of coin into
its currency
The bank loans stood last Monday at sl20 $50 Ass,
q decrease Of 81, $50 470 from the week previous.
They have been steadily declining ever since No
vember; they must continue TO decline until bust
ness revives. Many people look to see the loans
reduced to sll0 600 this summer; it is evident
that, unless the banks find employment for their
means in government loans stocks, they will
not be able to earn their usual dividends this
season.
Money Is easier than II was a week ago. Large
amounts were offered to the brokers yesterday at
four per cent; at FIVE everybody could obtain all
he wanted. First class mercantile paper goes at
sac; single names, highest grade, a z; and the
same for long paper, gilt edge. This class of pa
per Is extremely scarce; the lower grades, espe-
cially names in the Southern trade, not easily
passed, even at very high rates indeed. Collec
tons in the South continue poor. At New Or
leans some parties are paying, and the same Is
true of Savannah. But the general tenor OF the
mercantile letters from the South Is that people
in that section feel uncertain about the future,
and in their uncertainty, think il prudent to keep
their money, and let their creditors wait. Even-
tually, If peaceable settlement of our pending
troubles be effected these debts will doubt
less prove generally good. The event Of
the day Is the new government loan
Of 100000, which ID to be awarded
on Tuesday next. Bids from New York city must
be forwarded tomorrow evening, and the deposits
made with the Sub.Treasurer by p. NJ. to-mor.
row. Opinions vary widely about the rate at
which the loan will be awarded. Some people
talk Of 95 q 96; but these, il will generally be
found, are parties who are not likely TO bid.
Among those who will probably be bidders, 81 to
81 is named as the probable range OF the success.
full bids. Still, nothing be said with certainty
on the point. Two days before the last loan was
awarded, II seemed doubtful whether the whole
would be bid for, and sound inaneiers expected
that large portion OF IL would not sell above IS.
As will be remembered, the aggregate bids
amounted to nearly $4,000, 900, and tn. lowest
successful bid was at 90 Is 100 II Is
understood that two combination bids
are TO be made here, one by the banks,
the other by some Of the private bankers.
Nothing viii be known abont the rate tl Tues.
day; but from the general conversation 10 the
street II Is inferred that the $4,000, 900 will be
awarded alta higher average than the loan Of Feb.
ruary ", and also that the aggregate amount of
bids viii not vary much from double the amount
required by the government. We hear little or
nothing from the South with regard 20 the pros.
pect Of the 100000 loan Of the Confederate
States. Letters from New Orleans and Charles
ton allude vaguely to the willingness OF the ueo
pie TO subscribe, and II is possible that the banks
of the former city may yield TO the pressure upon
.Ndep, and stretch point in order to secure the
ne, -otistion Of the whole amount Future loans
Of the Confederate States will probably be offered
I'm the M srikess Of London or New York.
FOREIGN exchange rose last week and closed
firm at loe a f9r sterling and S.221f for francs.