The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-18

exports, exclusive OF specie, from the port of New
York to foreign ports for the week and since Janu-
airy L.
For the week. .... 81 544, AS 2.I5l 35s 1888 500
Previously reported 45a96,552 62,63o375 ss,7Sos29
Since January s47 54l ,OO7 e4,7sl,7s3 9o,7I9s55
This is another heavy export; that of the week
of last year with which it compares was unusually
so. We are not importing two millions week Of
foreign goods; if we continue to export as much as
this we shall draw the specie from the other side in
any event. AS the season advances, however, it
must be expected that the non-shpmcnt of cotton
will mako difference in oGr exports as compared
with previous years
The furry in the money market has subsidized,
and money is offered to-day at per cent, though
some lenders continue to ask g. The advance was
gratuitous and could not last. There ia too much
money here and too little business doing on credit
to warrant expectations of permanent advance
in the rate Of interest. The transfer of few mil.
lions of dollars in specie from the bank vaults to
the SubTreasury is an occurrence OF no mpor-
lance whatever, so far a. the future of the money
market ID concerned. The gold returns to the
banks in the course Of few days is again borrow.
ed, and again disbursed. and ~ on for any length
Of time, without disturbing the relations upon
which our present easy money market depends.
When trade revves throughout the country and
enterprise resumes its old activity then it will be
time enough to expect an advance in the value Of
money, and quick demand at the advance. Tn.
der present circumstances bankers and SPECTATORS
may eontrive, by turning to account the unusual
phenomena Of the situation, to gavanize the mar
ket into life every now and then; bat these starts
will necessarily be very shori-!ived and will gene
rally be followed by reactions
Foreign exchange closed steady al 100 for the Bos
ton steamer. Very little business was done to-day
There il little or no demand for bills from the
trade: the inquiry which put the market up came
chiefly from parties who hold in their hands
Southern moneys, and who are RENTING them to
Europe TO avoid the vigilant pursuit of the United
States District Attorney. It is hardly necessary
to remark that fhjs demand is not permanent
in its nature, and that in the eOnrss of day or two
il will subside altogether. The Southern banks
began TO remit their moneyto England as long ago
as January last The balance remaining 10 their
| credit in Northern institutions cannot be very
large. 1t is probable that there will not be much
left after the present week ends AS TO the proba-
BILE demand from the trade, we need only remind
our readers that the tables of the trade OF the port
for August, which we published in this mornings
HERALD, show an excess Of exports over imports
OF million dollars for the month. In previous
years we imported in August twice as much as we
exported. IL is pretty evident therefore, that no
demand for bills from Che trade can be relied upon
to sustain the market A sharp reaction in the ex-
change market is generally anticipated by bankers.
Stocks continue extremely dull. To-day,
partly owing to the weather, speculation seemed
entiralv dead and nriccs ot fle mornin0 hoard
receded ia a all round which they recovered
in the afternoon. The heaviest decline at the
l morning board was in Pacific Mail and guaran-