The New York herald., 1864-10-12

There s no reason beyond the OF specua.
tlon for this advance in gold; but have said
FORE merchants and capitalists interested
keeping up the premium that large amount Of money
is employed for that purpcso. The failure OF the cors
OF these would be public benefit for what matters
u to the great OF the people how many merchants
or spectators are impoverished ruined so long as
every paper dollar appreciated in value Gold
should be than thirty cent lower than Is to-
0ay, allowing for all the blunders the Treasury re
paFtment. But those blunders given strength
spectators for and long The present
OF the Treasury pursued, long will the value OF the
currency be less at the mercy Of popular and
speculative caprice.
The speculative feeling the stock Exchange is in
favor OF sp smodic but rising rket for short
time. be tcne Of the gold market assists the buls"
In their specuatiops for advance.
We have before referred TO the rapid increase Of
the currency issues OF the national banks Tho mum.
Der Of these institutions constantly resyng fresh &C.
OCCASIONS. TIE additions TO their aggregate circulation
during September 81 So7 $50, at the rate Of
nearly two millions per Toe total amount OF their
circulation the 3lst August s44 ,25 cl0 On the
ast Of October had risen to s5l ESQ., and during the
week ending the sth inst the increase 81 774 $50
making total TO th at date Of $53 $50 This evil OF
Imitation Is undermining the national credit and calls for
radical measures TO arrest it..
1here some interest manifesing itself with regard
20 the new loan Of forty millions and it will probably be
taksn up with spirr; the bidding will DO lower than
on the last Opinions Wall street are 10 the effect
shat the grea ter ion OF tho loan be awarded at
premium OF not more than per cent The public may
require 70 be reminded that tn OF bonds viii
20 Without the accrued interest," whereas those the
market carry accrued interest with them.
The seven and threetenths In cy Treasury note
loan continues to be actively subscribed to-
Ing the competition other government securities Tho
frou, ,io
amounted te s., OIL 900
9hs later news received from Eogans, extending TO
October 2, informs that the general distrus before
reported 10 financial and mercial circos has
abatsd The fortnghtIy settlement the London stccx
exchange resulted In The suspension OF three brokers'
and numerous heavy failures reported among the |
mercantile uunty, several OF which were in conse
quence OF the soppage OF the Leeds Baa< Employment
was becoming in The manufacturing districts and
continued depression and sensatveness Pre-.
vailed in financial and commercial circles. The Bank of
England rate Of discount still remained at nine per |
cent, although the demand heavy. The recent
news from this country will tend aggravate rather
than improve the condition OF affairs there and although
sweeping panic may be arrested IL will only be at the
latest I'LL the termination OF the the United States
md 10 financially and commercially in a more pre-
carious position than he was before IN the course
entire history, aod all her dnDcutes are aceaDe
The proposed petroleum exchange in Broad street 10 10
process Of organization, and committee has 5eeu ap-
pointed 10 ocers and frarie constitution ard
bylaws.
The money market continues easy on call loans al
seveu per cent but the discount line there s no
the rates for good varying from uire 70
nfteen per cent. The flow OF currency 10 the gre-t
m nelary centres consequent upon the heavy dsburt-
mepts of the government 10 the army and navy dur
September are regarded likely 10 neuiraszs 10 some
exten, the effect OF the withdrawal OF deposits 10 meet
subscriptions to the new loan.
There is very moderate demand for foreign exchange
al former rates. The demand would likely be greater,
arising from the state OF Affairs In Great Britain but Tor
tho fact that tho current Indebtedness OF this country 70
that rs unusually small resulting from the light importa-
lions and comparatively large expectations o. the last
few month"; Bankers' bills for sterling at sixty days
are quoted al 100 and ITO at three days. merchants a.
ono 10 two sr S3n. lower Francs reported a. from
b1lxto SIS, with q more active demand. Buyers are
very critical Of names.
Tte business at the subrrsasury to-day was as fol.
lows;-
RECEIPTS from customs. si2,gog
Total receipts. s.eg.
paymcuts 80 -
Balance
6ubscrp ptions 10 government loan oo,VoV
The following table shows tho receipts OF the Atlantic
Great western Railroad during each mentn o. ths
present year -,
PasIlagay, Nsil,, &c. Frrgn 1otdl
fanuary .............s3s Gl5 les ,6Ss 2oI :. -
Lebruary...,.,...... bOl6s 11s,sbz <ksvfa