The New York herald., 1862-01-13
FINANCIAL AND COMMERCIAL.
SUNDAY, Jan. II, 1862.

SUNDAY, Jan. IL, 1867.
The new year begins with moderate import of
merchandise and dry goods pretty active move
ment of food outward, and larger shipment of
specie than has taken place for some time. Our
shipments of food to England have fallen OF
since the Mason and Sidell affair occurred It is
expected that the vessels which will arrive here
next week and the week after will bring fresh
orders. We have an enormous surplus of -four and
provisions ready for shipment, the whole Of which
is needed abroad. 1t is not likely that Congress
will increase the tariff very materially this session,
though an additional duty on British manufactures
of WOOL iron cotton, silk and linen may, perhaps,
be imposed, as much for the sake of revenue as in
order to keep our imports down to moderate
standard. OF specie we cannot ship much; there
is no balance of trade against us. The following
are the Custom House tables for the week.
For the ,ceek 1860. 1851. 1862
General merchandise. 1el5,ss5 2,ol4,ss6 1,24s,o54
Total for the week sa17sias 5,47e 500 1,sS9 ,5e7
Previously reported... 1,iSs,541 1,Oel225 l,ooool7
Since january s4,el7 ,7ao e,57o7a4 2,s9ol
EXPORTS OF MERCHANDISE AND PRODUCE.
1860. 1851 1862:
For the week 042 S27 2,925,7I5 2246 Ol0
EXPORTS OF SpEcIg.
For the week .......... Ss60SO none 1035, ,02S
The banks showed last Monday a specie average
of s23, 1888 ,s7S. This was considerably less than
| they actually held at the time the statement was
| published Tomorrow they will probably show
an average of s25 500 900, or thereabouts, the
| actual amount of coin in the bank vaults being
really in excess of s26 900 600. Included in this
however, is some coin belonging to spectators,
who have pledged il as security for loans. There
is no reason whatever to fear any serious inroads
upon the reserves Of our city banks. We have
more coin in the country and in the city than the
| trade of the country can by any possibility re-
quire. Our trade with foreign nations is conduct
ed upon principles which render heavy exports
of coin simply impossible. We owe little or nothing
to the foreign world, and foreigners are daily
| incurrng debts to us for the food we are export
ing. Nor is there any ground for apprehensions that
boarding will go on to any extent after Congress
has passed the proper measures for securing the u
innate redemption of Treasury notes. Specula
| ton, il must be expected, will continue both in
gold and exchange. But it will be a hazardous
game for the spectators. Gold rose last week at
| one time to per cent premium. On Friday II was
| firm at ga Yesterday morning IL fell to 2
but yesterday afternoon again rallied to 2'4 8
After the second board ~ was bid for any part o
| 800 900 in American coin. II must be remember
ed that II is in the power Of the banks at any time
to break down the price Of gold by throwing mil
lion or so into the market. That they will do so a
the proper time is not to be doubted.
Our Washington correspondent informs US tha
the bank committees from this city, Boston ant
Philadelphia had conference yesterday with thu
Secretary Of the Treasury, and the Senate ant
House Committees OF Ways and Means, on the sub
ject of the financial policy of the government III
states that the bank men laid the following propo
stions before the meeting:-
l. That in lieu Of the proposed issue Of ono hundre'
ana fifty millions OF demand notes, aud making them
legal tender, the government shah issue fifty millions o
demand notes, convertible into per cent stock, re
deemabe in ten years. and hundred and fifty million
small notes. bearing six per cent interest," and payao
| In two years
the banks shall be used depostares OF all the publ,
| money, except that received from customs.
g. That Congress shall pass joint resolution declaring
that 10 will pass bill providing for the rasin
Of hundred and twenty Ave millions per annum b.
taxation, &C., in addition to the receipts from customs.
e. That the Secretary OF tho Treasury shall be autho
rized TO negotiate further loans without rastrction as
terms rate Of interest and also 70 obtain temporar
loans by hypothecatng stocks in anticipation OF sales
Our correspondent adds that these propc
sitons were not generally regarded wit
favor. We are not surprised to hear 4
With The exception Of the third propos
, tion-with regard to which oil parties OF
agrced-there is very little prospect Of cOngrc'