The New York herald., 1862-10-06


Since January So, s101S0 G,4ois25 45,G49902
The last bank statement showed specie ave-
rage of S37 ,592 552, being decrease OF s2I0 1856
loans average OF SlG0, ,l6l ,0s6, being an increase
OF 81 SCI ,7JS; and a deposits average Of
sl53 POI ,s52, being increase of ~ 81 3a9 The
statement which wiz appear in Mondays HERALD
will probably show further increase IN specie
loans and deposits. The latter--the deposts-are
now close upon $lG0 goo 0C0, though the statement
will probably show something less The loans
will show q marked increase in consequence of
The development Of stock speculation. The banks
are all finding lucrative employment for their
means in lending on stocks, and are naturally en-
couraging the present speculative movement to
their utmost. Specie. strange to say continues to
flow into the bank Golfers rather than the Sub
Treasury. rational understanding Of the atua
toa would lead merchants who arc insuring against
depreciation OF the currency by boarding rather
to deposit their gold in a place where they can get
four per cent for it than in a bank where thgy
lose interest. But new principles always take
time to penetrate the conner cial miad. II is un-
dcr.tood that the banks have offered III. Cisco
large sums in gold, III case they needed
Ii is clearly their interest to lend al the gold
that may be required for the payment OF IN
tcrcst on the public debt especially a. hy do
ing so they would turn to good account
d portion Of the specie nov lying idle in their
vaults. But now ihat Tho October interest has
been provided for, Tie January payments may
safely be lelt 10 tie public The principle Is clear
tiat any nan who seriously apprehcajs further de-
preca.ior OF The currency can best insure against
it Is purchases Of gold, which i the recognized
integer OF value throughout the world. and so
long as the sub. Treasury offers 70 "carry'' hoards
Of gold, not only without expense, but 1T profit
os four per cent to the dcpositnr il il obvious that
large proportion of such boards will be deposited
there by the public.
Money has again become active. Yesterday five
per cent was generally paid for call loana and in
some instances the brokers were willing to give
ak. This appreciation Of money arises from the
increased volume of speculation in stocks Every
body is Specializing in stocks. and naturally
large demand for loans has arisen which the pre-
yous supply of capital is hardly adequate 10 meet
In the course of a day or two this demand viii be
fully met. There are many banks in the city which
b. some eccentric rule class portion Of the lead
ing securities Of the day 'iancy stocks,n and
decline to lend on them. Depositors in such
banks will take notice that they can get FIVE
per cent for their money in Wall street.
on ample security, with ten per cent
margin. II they allow their balance to lie lille il is
their own fault. Mercantile paper is still in re-
quest among class Of capitalists who prefer il TO
any other temporary investment; prime paper. 60
days to run, sells at 4lS a per cent Certificates
OF public Indebtedness have fuctusted between
o9L and e9s.; they are now worth abont 9o11Is.
The steady increase in the bank deposits shows
that there need be no apprehension regarding the
future OF the money market though stock spccnla-
ton in Wall street may create activity enough in
loans TO keep up the price of money.
Exchange on London rose last week to 1857 per
cent. Gold fuctuated between l22 and I23l.
closing at about l22s4. Demand notes, available
for Custom House purposes, sold up TO l20H
closing at 1872. Our importations are large
that there is no reason TO apprehend any serious
decline in either bills or gold unless some decisive
change should take place in the military situation.
II IL cleer that the importers will absorb every
produce bill that be made, and that large ship.
ments Of gold and perhaps stocks, will have to be
effected TO keep our foreign balance down. Some
bills are understood TO have been drawn during
the past week against shipments OF Illinois Cen.
trail, which is expected 10 rise considerably when
the news Of the probable realization Of thc early
hopes of the founders OF the company Is received
The following table shows the course Of the
stock market for the past week and month";
Se,s. g. SEPT 10. sgt. 20. sept. 27. ID, 4.
= - a..