The New York herald., 1862-09-23

Increase. .$47o.775 1877 792 e9,e34 $3.50 ,asl
The net deposits are really in excess of
$lo0,0OO,0OO at the present time they cannot
help increasing steadily so long as the war lasts,
unless panics lead to the withdrawal of money.
The banks appear to gain specie at the rate Of
about two millions a month. When the safe time
comes for them to resume specie payments, they
will do it with perhaps more gold in their vaults
than they ever had. By far the greater portion
of the specie boarded with them at present will
never be sold, and will merely be kept on special
deposit until the premium on gold becomes nomi-
nal again. This advantage which our banks enjoy
was not enjoyed by the Bank Of England during
the long suspension occasiored by the Napoleonic
wars. In that case the specie had passed out of
the vaults of the bank, was in private hands in all
parts Of the country, and could not be got out of
them. Hence, in great part the difficulty Of re-
suming specie payments in that case.
Money is abundant at per cent, and some loans
are made at 3 a az. Mercantile paper, which
continues quite scarce, sells at a per cent for
the best names, and a for names less generally
known. Certificates of Indebtedness rule about
80. The upward movement in demand notes con-
.inues, and they sold to-day at I144, within per
cent Of the price of gold 1t is estimated that the
receipts from customs will not absorb them before
February or March next, and meanwhile substan-
tial successes may cause gold to decline.
Exchange is quoted firm, but inactive, at l29 .
a for bankers sterling. One or two houses ask
l29I; but we hear Of no sales above L, and very
few at that price. There is little or inquiry for
bills. Gold opened this morning at ll71S, rose to
ll7Z, sold in the afternoon at ll729, and closed
that bid. Rumor states that when the rebels en-
tered Maryland large amounts Of gold were bought
by foreign houses in view of the probable fall Of
Washington and at least temporary collapse of
the United States government. Any such boards
would be likely to come on the market in the
event Of hopeful pursuit of the rebels through
Virginia.
The stock market-opened firmly this morning,
became rampant between the boards, was not so
high ut the second board, and closed irregular.
The advance in the leading speculative securities
within the past ten days has been unusually extern
sive and rapid, so much so that most of the lead
ing operators have been and are looking out for
reaction. Erie preferred has risen, in ten days
nine per cent, Erie old Ga New York Gen.
trail 3, Hudson 31s Harlem preferred 5, Mchi-
gan Central g. guaranteed SL, Illinois Cen
trail 6L, Toledo Z, Rock Island per cent
Whether this large and sudden advance will
hold without q reaction remains to be
seen. This morning there was no sign of anything
of the kind, but in the afternoon there were some
heavy sales Government securities, which might
be expected to be the first to feel the effect Of the
expulsion Of the rebels from Maryland, were only
steady to-day at Saturdays prices. There was an
advance in Chicago and Northwesterns Of per
cent in the assented bonds, and "a in the second
mortgages; otherwise the bond market showed no
special Improvement. The most active shares on
the list were the two Eres, Central, the Michigan
shares, Toledo, Rock Island and Galcna, all Of
which advanced. Comparing the prices current
this afternoon with those OF Saturday afternoon,
we note an advance of 21a per cent in guaranteed,
Ia in Southern old, 4 in Illinois Central, l1a in
Galena, 2 in Toledo, and q in Erie old. The fol-