The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-05-05
.sl2 .o2e 500 2,sos .o52 IA ,5se 90

The bank statement Of last Monday showed a
specie average Of s35 2s7 944, being increase Of
sC26, 4le from the previous week; loans average
Of $f25 ,0SG, SIS, being an increase Of $2,0l6562
and deposits average Of $l0l ,s97 i35, which was
an increase of sG7ls,0 95. Tomorrow the deposits
will show a further increase to the unprecedented
figure Of sl0s, 900, 900, or perhaps This fact
alone explains the condition Of the money market,
the activity the Stock Exchange, and the ad-
vance in gold. We are at last realizing what so
many have foreseen the effects Of plethora OF
paper money. Money is pouring in here from
Washington, from the West, and from the East, for
employment. The bank deposits have rolled up
twelve millions in q fortnight, while the utmost en-
deavors Of the bank managers. and the adoption Of
very low rates of interest, have failed to secure an
increase in loans of than four five millions.
1t is obvious that this state Of things win continue
as long as the war. II is TO the interest of the
Treasury Department to pay creditors in certif-
Gates of indebtedness, which worth nearly par,
to borrow money on temporary loan, and to issue,
If ncedful, one hundred millions more Treasury
notes, rather than come upon the market as bor
rover for the next thirty days. The final de-
feat of the rebel armies in the Southwest and az
Richmond will enable Mr.. Chase to sell five per
cent bonds at par. They win be greatly wanted
abroad. At one p. NJ. yesterday the limit
fixed by law TO the deposits Of money at the Sub
Treasury at per cent was reached and applicants
who came later were informed that their money
could not be received. The annals Of finance may
vainly be searched for another instance Of a
government engaged in deadly war, and spend
ing three millions day, yet ia such position az
to decline loans from its own people at per cent
per annum. Remarkable as the fact IL, however,
and ridiculous as IL renders the predictions Of
those British critics who have been expecting to
hear Of financial crash here by every mail FOR
the past six months, we cannot help thinking that
1t IL unwiss to stop the deposits. Mr.. Chase can.
not do better than continue 90 receive all the mo-
ney be get at this rate aud II Congress is well
advised G supplementary act wiz be passed this
week authorizing the receipt Of deposits cay 70
an amount Of iAty millions more. The act should
authorize Mr.. Chase TO pay back deposits in Trea-
sury notes Of which further issue Of 100 goo 900
should be authorized and kept in readiness Tor the
purpose. There will however, be no likelihood Of
any demand upon the sub.Treasury for repayment
until after the war, when the public FRANCES will
| be in very easy condition.
| The value q money fell last week about one per
| cent At the close Of the week money was Freely
offered at per cent 10 the leading houses in the
street, and parties who went 70 look for money
found it without difficulty at s. There is great
complaint at bank Of the won't Of mercantile paper.
There probably never has been. during the pat ten
years, SO little spring paper made in New York as
this spring. The best names, at short datcs pass
readily atlas per cent; long paper, Sac. A.
mentioned above, the rate paid by the government
for The 6fty DillQps u has borTqYed or deposit >