The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-07-15
The following table shows the course Of the
stock market during the past week and month";

8VAclu h-Nance ID PRICES tooh lia.o '"S'
week II Cannot, however, be described az
healthy movement resting on legitimate causes.
So far as we can learn with the exception Of State
stocks, which are being freely absorbed by the
public on various theories, the stock list is quite
neglected by outsiders. In the present Condi'
ton Of trade very fcw persons have any
money 10 speculate IN stocks with; and
certainly, in view Of the condition Of the
country. the paralysis Of trade, and the decay Of
railway traffic, there is not much temptation to buy
non-dividend paying railway shares. Still there is
powerful and wealthy bull clique in the street,
which, in the present condition Of the money
market is capable of carrying large quantity of
stock and creating scarcity whenever the bears
operate with indiscrciion This party took ad.
vantage oi The increased confidence eHgendered by
the Presidents Message, and the thorougbgoing
disposition of Congress, to mark up prices two or
three per cent last week. We do not hear how.
ever. that the advance tempted any outsiders to
relieve them Of any portion of their load
Whatever may be the precise nature of the
means adopted by Congress forraising money for
the war; it is now certain that in one way or other
between three and four hundred millions will be
raised ana expended in the country IN the course
OF tie next twelve months. Nearly the whole of
this large amount will be raised by loans that is to
say, will not be paid by the present generation.
The practical effect of the negotiation Of these pub
lie loans will therefore be to add 10 the capital and
currency Of the country amount CT three or more
hundred millions of dollars. So far as the present
time is concerned, the effect will be the
same as if the banks expanded three
hundred millions. Just SO much more
money will be put in circulation and scattered
among the loyal people of the North. The fifty
millions of gold now held by the New York banks
and SusTreasury will constitute the basis for the
expansion. Government win draw from the banks
ten millions at a time which will be spent in pay
ing soldiers and purveyors throughout the North
ana West In due course this money will GENE
back TO the banks ready 10 De loaned Out afresh,
and meanwhile the Treasury notes and bonds issued
by the government will remain in the hands of the
people. a representation of wealth II s possible,
though it is not likely, that the repayment
OF the war debt about 10 be con
tracted may embaIrass the next gene
ration 1t certainly vii! not DC felt by the present
in other words. the pending war is going to revo
iutonize trade. Our foreign commerce will
naturally decline. IL consequence Of the dlficulty
which viii attend shipments OF cotton, the bonn
teous harvest in Europe. and the high duties i'm
posed by our tariff on foreign prcdu :tions. But
in the meantime our domestic trade must increase
At a prodigious rate. There will be more goll
seen this year in Virginia aud on the Mississippi
:l,sn has ever Visited those localities. A demand
'or new commodities required IN war viii spring
up and will compensate our commercial and indus
,lal community Tor The decline in the demand for the
commodities which are most wanted IN peace
Our factories will he kept busy IN the manuiac ture
II soldiers clothing, shoes, tents wagons and inn
plemcnts Of war; ool fertile fields will have plenty
% do IN supplying our troops with food; our mcr.
'hants viii md employment IN acting az middle
zen between the government and the people. IN.
stead Of a. heretofore between our people and The
people OF Europe. After the Wa! is ended matters
ill gradually return 10 their old routine But
,hle the war lasts il wil, do Tor the internal com
mcrce of this country what the Russian war did for
he trade Of the Black Sea Geveiope and Increase
i amazingly.