The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-05
following are the Custom House tables Of the trade
OF the port for the week and since January L.


CRY fGSss sss ss s s5 SO ,o sis
Total for,hc week se5s2 s5o 5,A2o.a24 I4ss,O5s
Previously reported i4Si2oa2s lss,to2lse s3sa2,s2o
Since January ! 1854 7l2,o7 1al 1851 1853 s537C47o
Exroals % PRoprcr AND MsRsylAxplsE,
For The week. -. 81 Ias 255 Is2< 2ossoe6
Previously reported. 36i2ts4d 40 ,os2 100 74oo346s
Since January l.. .sa7 alS ,lol 80 oo6a 7ei7s4as
ExroRrs OF SPECIE
1850 1860 1861,
Previously reported 80 al ,ao4 2o,7sasso sloas1s
Since January L.. sll IA 352 20 25b2 27 alb42eo
The banks continue TO gain specie; they cannot
hold less than forty nine millions of coin at the
present time. Last Monday the average shown
was $40 900, 72lan increase Of $29s 426 from the
week previous. Since then the Mint has delivered
some $4,000, 600 in coin, 80 O00, 600 have ar
rived from California, and the disbursements of the
Sub-Treasury have been large. The balance in
that institution stood last evening at So ,5sl 1885,
against 81 1882 ,99 at the close of the previous
week, Notwithstanding the heavy payments which
have been made for Treasury notes The govern
mcnt is paying out money fully as fast as il re-
ceiyes IL, and most Of the disbursements being
made here the coin finds IFS way back into bank a
very few days after it is drawn ont Under the
NEW act of Congress, which makes every bank q
SubIreasury to the extent Of its adv anccs to gov
erhment, the heavy monetary operations Of the
Treasury will create even less disturbance in the
money market than they have done hitherto. The
New York banks will become the great centre of
exchange, contractors and paymastors will re-
ceive the amounts OF their warrants here,
and, az general rule, the coin will not be
moved nom here ia amounts heavy enough to
derangc the market. Exchange on New York will
answer the purpose Of coin throughout the West,
and five or SIX millions will suffice for the payment
OF troops who may prefer specie For the present
therefore, looking at the volume of lmportations
and the condition of the exchange market, there
seems to be no prospect that the reserve OF our
banks is likely to undergo any sensible diminution
Judging from the opinions of bank managers, the
loans should show further decrease tomorrow,
notwithstanding the heavy purchases lately effect
cd of Treasury notes. All solvent houses are
liquidating their liabilities, and no paper is
being made. Both groGers and dry goods dealers
arc selling exclusively for CASH The government
loans which are about to come on the market
afford our banks the only chance they win have Of
earning dividends this year. Last Monday the
bank average of discounts was SIP ,3ll ,s32-an
increase of 1925 TIA from the week previous. At
the corresponding date last year the bank loans
averaged sl29,O4 ,29a, and the specie reserve
$23, $780, 26.
The money market continues very dull, the sup
ply Of money being far in excess of the demand.
Parties who seek temporary employment for large
amounts arc obliged to content themselves with
per cent per annum; the brokers pay
from 9, according 10 the standing
of the borrower and the character Of his
coliaterais. There is hardly any paper in market,
and the banks find il extremely difficult 20 keep up
their line with suitable In the street choice
short acceptances arc in demand at S q 8 per cent
and good paper Of longer date at q II Is per
cent But the volume of such paper is so reduced
that business is very slack. Some cnterprising
capitalists continue to dabble in dry goods paper
at q pep cent month; the recent failures will
have tendency to check these operations. No
thing is known Of the affairs of Messrs. Clatln Mel
len X Co., and it will take some days to ascertain
how they really stand. Rumor asserts that their
liabilities will be found under 50 900 600, and their
assets not less than S. 600 1t is not yet known
however, what proportion Of these assets may
prove to be suspended paper, or deprecated and
depreciating goods The firm has for many years
occupied very high position in mercantile circles
and great sympathy is felt for the senior partner,
whose business capacity, energy and prObity arc
well known His efforts toavert the disaster, which
has at length occurred have been the subject Of
comment for some time; only few days since the
firm was heavy buyer OF its own fall paper at 3 a
per cent month. The new store lately erected
for Messrs Clafn, Mellen Co., en- the corner of
Worth and Church streets, is one Of the nobicSt
commercial edifces in the city. Two failures in
the grocery trade were reported last week; both
small houses. and both till recently engaged in
trade with the South, where, of course, no collec-
tions possible at present. 1T seems to be gene
rally apprchended that other suspensions in the dry
goods trade must follow long. The West is
almost as far behind hand with it's payments as the
South, and none Of the jobbers expect to
stand unless their means, outside Of their bills
ceivable, suffice to meet their liabilities This state
of things runous it proves to established houses
will have the effect Of placing our dry goods trade
on a sounder basis than it has ever occaped. Less
credit will be granted to irresponsible houses and
more business will be done for cash.
The foreign exchange market has again reached
a deadlock. Good mercantile bills cannot be
bought under l07, at which rate there is no profit
on importing specie as returns for bills. There is
little or no demand for bankers bills from the
trade, and if there were bankers would be en-
barasscd to cover their exchange. From these
causes the market is very dull, and the movement
of prices somewhat capricious. Leading drawers
ask 1917 for bills London and 5.25 for bills on
Paris; but good bankers bills can be bought at
1921 and 5.271a. All parties seem agreed that
exchange must decline to the specie importing
point. Everything in this respect depends on the
future relation between our import and our export
trade. If we continue to ship large quantities Of
food to England and to import very small guam
titles of dry goods and general merchandise, the
exchange market cannot bat fall But if the non
shipment Of cotton and tobacco should, in the
course of the ensuing month or two, create a
scarcity Of bills, and the wants of the importers
impart slight stimulus 10 the demand, the
market will be sustained. In the course Of week
or SO our receipts Of coin from Europe will cease