The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-07-09

Sce January L. ..45 l2i 35l 692ss e24 Is 90 AGO
Money is working more freely again 5os, &c
the new loans are at five per cent thous ! r,nv
houses refuse to lend below six Certis 800 &c
indebtedness are worth 80; green ba y notes
l04zI 1861.
Foreign exchange advanced this nor ,;ro % 80
"A for bankers sterling, and this e,arnoon =
l23 "a. The buyers this morning, go ob;aev
English importers. We hear Of no lsr ronr-oh.sos
for account Of the parties who 20 hoer tbe
leading importers OF American stocl cols 800
to III in this middle Of The day.. ma !.
the second board, to ll25, afterws a. and ciosod
at ll2A bid. The steady advan - + ro,a ord
bills has fslsiied The calculations os ia sbro,dos,
operators. Much Of the advance H. 49,. 49,.
less due to the disappointment sbicb bas heen ~.
dnred in regard TO receipts Z cotton from tho
South. II is very easy now y 80 ,h.+ !. 80
unreasonable to expect ship ,s of COTTON ..
follow Immediately the seizur - sroh Niece a.
New Orleans and Memphis. booxnao,a,;or rao
however, very generally en- art,ined before these
Pohe ~eis oo~aPeu ~ troops, and many
PEI sohs iooA'u io'"aiu q supply Of cotton
p ino'e peso" - now made up their
minds that ,o;n ., roco;vo -
cotton at all for -, io,c norod #
time and that all debts !, r-nro 10 r,s, - r.id l.;
gold. Mercantile lett - CO., NJ or,aans "a
Memphis state that tn ,o.ol arou,, az cot,on IA.
stioyed ia very small ia. most az tho nIanters
have tner co''op till on their plantations but
that tney VII no. nd il forward until they feel
! more secure eha'i uey do at present against
storaton " 'her bel dynasty. The want of bag.
ging, ana the ger eral disfocation Of the CONNER
cial system az VI South, arc likewise regarded as
insurerabe OBS tacles to the movement OF Southern
cotton f'r man months Meanwhile we are re-
ceivng ron abroad large quantities Of tea,
coffee SusS r, hides, dry goods iron, lead
&c. Se.' 70 say nothing o. American
stocks pay for al these we have no
thing ~ bread-tuas and gold. OF the
former = takes many shipoads to pay for single
cargo % tea or coffee ! lew packages Of silks
so that in fact godis only substantial resource
OF pre- cent. TO what premium may gold be fairly
cxps ted 70 riseg what il any, steps should be
take 70 prevent the depreciation Of the currency
vii III l. proceeding rapidly what Of silver
VI len mas risen 90 a pen cent premium and is
mildly disappearing from circulation These are
he problems Of the day. With regard to the first
it's not likely that in an ordinary state Of trade
our export Of gold so far exceed our receipts
from California ~ TO drain the country Of coin.
4 Our exports Of produce as the above table shows
are large; our imports. especially after the new
tarin goes nte operation, will be small. The ehie
misfortune il that the steady advance Ia gold !,
leading every mercantile asn 10 protect hlHsel
against the further depreciation Of the currency
by purchases OF bullion. People who have no In
tention whatever Of exporting coin, and who dc
not o.e dollar % Europe, buying twenty
nifty or hundred thousand dollars Of gold, In
order that, II thu currency shosld fall to twenty.
Eve per cent disc cant, they shall have something
~ compensate them for the loss they will make on
their bills receivable. The advance thus caused
10 the mnrkst prize Of gold reacts again upon the
foreign asrshAa, who ewes money 10 Europe, and