The New York herald., 1862-11-03

advance in almost every description OF merchan
disc. exporters can still afford to outbid purchas
ers for home consumption. lmportations continue
pretty liberal and. notwithstanding the high price
of exchange and the high rate OF duties bid fair to
continue A few descriptions OF dry goods are
slow Of sale but. as general rule, the recent ad-
vance in prices has not materially checked con-
sumption, and the importers and iobbers are doing
much better than they expected. The heavy
taxes which home manufacturers will have to pay
under the Internal Revenue act will in measure
Offset the high duties that must be paid by i'm
porters Of foreign goods. The export OF specie,
which is usually light at this season-in con-
sequence of the shipments of cotton-is SO this
year. though we are importing about as much cot
ton from Europe as we are sending here. rhis
arises. of course. from the increased exports Of
breadstuffs.
The following are the official tables Of the
foreign trade Of the port for the year and since
January L.
osassal @ ss mdss a,ssssso l,ssa.sss a i1ssSas
Total for week. q sos ESQ 22a4lso 2aoss7s
Previously reptd.. ls5,s5l 7s4 loe,soo6ll i4aolo475
since jan L.. $500 1856 74s 100, 1853 7n ISL s2e 900
Exroan OF PRODUCE AND MxRcHANDisx
For tho week ;;,. ss,lss,,sl 2so3.sss sos oss
Previously rop''d.' 77,soe,s4 !oa,lsI9se AeP4oSa0
Since Jan. I....s70 e75l22 1o7.9556s l24 o45,oea
EXPORTS SPECIE.
For tho week. .... SIss700 351 BAT
Previously rcprd.. "A 45l.e5e e4os ,22S 5oo4s,l4o
Since Jan H.. s44.e4o 1855 e,ao5.225 sos94AS7
The bank statement which was published last
Monday showed specie average of sS7 .453 .53l,
being decrease of 81 .305 TBS from the previous
week; loans average of STA s7s 946 being an in
crease of 50 1867 ,26l, and deposits average Of
sl64 4a7 ,s72 being an increase of sl6O.524. During
the past week the banks have not made any
very material changes in their position, though
the deposits and loans have somewhat increased.
steady accumulation of money at this financial
centre continues to be anticipated by leading
financial authorities, though the progress of
the war, as it reopens to commerce section after
section Of the revolted States, will naturally de-
velop new fields for the employment of capital.
Some capitalists are sanguinely expecting
to be able to use their means in the new de.
velopment of the State of Florida, under the
auspices of the colonization scheme lately brought
to public notice. But nothing tangible or prac-
tical has yet been broached in regard to the
ls
ceasing to attract attention. Some of the
banks lend as freely on gold az they would on
any other article Of value holding that gold is.
in effect, mere article of merchandise,
and has ceased to constitute part Of the naton$l
currency. Other institutions decline to lend in
cases where they have reason to suspect that the
loan is sought for speculative purposes. The at
tempt which was lately made to induce uniform
action on the subject, through the medium Of re.
solutions Of the Clearing House, has failed per-
haps IL was best it should do. G
Money closed yesterday in abundant supply, at
per cent TO good borrowers, on first class COLA
teral, but quite scarce to weak borrowers. and on
the fancy stocks, which have advanced so much Of
late. Merchants get all the money they want on
sixty days paper at4 per cent, and at al
for longer dates. Government certificates of in
debtedness are selling at 994 per cent-higher
than they were week ago. There Is no reason to
fear advance in the rate of interest 80 long as
the war lasts and the government continues to issue
paper. But after smart speculative movements
and pending elections it must be expected that the
money lenders will exhibit more caution In part
ing with their means than at other times. Demand
notes. available for Custom House purposes. have
fallen to 1851 u.
Gold closed yesterday about u per oent lower
than it ruled week ago. being offered at 1907.
The first weeks experiment of excluding gold
from the board has answered very well indeed.
Speculation in gold has been very much reduced,
and is now confined. for the most part, to foreign
brokers and small dealers, who, wishing to gam
ble prefer gold, which they understand, to stocks.
which are mystery to them. 1t was generally
expected that the first effect Of throwing gold out
of the board would have been an advance in its
price. This expectation has been disappointed,
and now bullion dealers profess to expect to see it
sell at I25 within few days. The operation of
the Internal Revenue law is calculated to deprcss
the price Of specie. II is abundantly evident that
under that law the public revenue is going to be 30
large as to render further excessive issues Of pa
per unnecessary and the prompt payment Of every
public obligation mathematical certainty. The
natural effect Of this will be TO diminish the differ
ence in value now existing between paper and
gold-in other words to arrest the depreciation Of
the currency. We can now see too that the de-
mand for gold for export will be very
light Our exports are in excess Of our
imports by $23;0O0,0Oo for the first ten
months Of 1862, and, though the bank.
ers and spectators in exchange have thus far
succeeded in keeping up tho price Of bills, the
market is very heavy and the tendency is down.
ward. The leading drawers are abundantly sup
piled with produce bills and If our imports do not
materially increase. and the volume of stocks i'm.
ported does not largely exceed the volume Of
stocks exporte d, IL is hardly possible that the pre-
sent rates of exchange-143H a x for bankers
bills on Lon don-oan be maintained. In this
however, as in every department of finance at the
present crisis, much depends upon the progress OF
military and political events. Military successes
will cause gold and exchange to decline; defeats
and reverses will cause them to advance. If the
administration Of Mr.. Lincoln appears successful,
TIE exchanges will move in our favor; IL II loses