The New York herald., 1864-10-19

Ii 100 90 a. A. M.........aiS MaiS aos p M....ssIs: M......sIs
isss lsGs FrsSs sSs sSS sSS F. T. ~ sSs .sSs
NOV ing upon Richmond, and tha, the government
was selling gold. These exercised some influence, for
Wall str eet operators given to creduy and easily
swayed, and gravey uttered Munchausensm swal-
lowed and acted upon with an avdity which is extreme
iy hattering to those who promulgate them.
1he transactions the Produce Exchange were, a.
matter Of course Influenced by the OF gold and
-four declined SOC. 75c per barrel wheat l0c. l5c
per bushe ard corn &c. a &c.
The decline In the stock market vas however in OK.
OF thatot gold, and this caused more by the
.sshort" sales on options than by sympathy with the
Ealing premium. The views Of the "bearsn in selling
were probably based upon other considerations than
those OF national character likely TO depress
gold. and the fact OF their ceasng to "hammer" the
market the afternoon favored the supposton that
those views had undergone some modification
The news from England to-day is not Of assuring
character regards financial and commercial affairs
Several failures reported and unsettled feel
ing prevailed productive OF considerable stagnaton in
trade The statement the Bank or England for the
week ending the 5th instant was unfavorabe
than tha. tor the preceding one, and this points
70 dear money market for some time 10 come-probably
the whoe wgter Not only is there chance OF the rate
Of discount being reduced present. but its further
advance of ten per cent woud be surprising
In the banking department there had been decrease
tbs reserve OF notes to the extent OF 81 100 leaving
reserve or only f5 exclusive Of about f72O
in oeiu to meet immediate demands liabilities amount
tng 70 about f3S 000 Its Of gold and silver
10 both the issue and banking departments
same time reduced TO fi2 99s 20, showing falling OF
this important particular during ne week OF fl229la
And this, as We showed yesterday absolutely the only
reserve 10 Great Britain against bankers liability Of
f7oo 900 600, exclusive Of large amonnt Of unsecured
liabilities OF the banks in Ireland and Scotland
In instItuting . comparison between the reserve OF
bullion ana the aggregate liabilities in issue Of yesser
day we demonstrated the financial weakness Of the
Bank OF England and therefore OF :he whole Such
. credit system @ now rests upon the tri'Dg
basis referred TO was never before known
In tho history OF the world s real basis " mutual
Adsnce and lot this be shaken and the entire structure
viii resolve itself into spectacle Of splendid ruin Such
. contingency threatens England now, and the danger
viii continue TO mpend over her opg hsY finances
rest upon such insufficient foundation and the
provocative OF sudden commotion remain The war ip
this country may be said to govern the monetary a-d
commercial Affairs Of Great Britain, and peace In
America would sound like death knel among British
banks and British merchants and coin would soon be
10 the pockets Of the people Of the CDed
Kingdom az II is among those Of the Ushed States.
France TOO would be into the whirlpool OF panic
the suspension OF specie payments there also would
Inevitable. The weekly return Of the Bank Of France
tsusd the Tth instant, showed decrease in It's cash
OF eleven aud half millions OF francs, and
unsettled feeling existed.
whether or not the sweeping panic in which Great
Britain stands in danger will be averted till the concs.
sion Of the this country when 1t viii be inevta-
ble depends upon the continuance OF that confidence
which has built up the enorm ,us and refined credit sys
Of Great Britain OF the greatest wonders Of
progressive civilization.
A telegram from Washington announces that the Secre
tary OF the Treasury stopped the issue or legal tender
notes Ia all forms time ago. and that II ID
derstood he has determined 70 stop the ssue OF
liacates OF Indebtedness, and that more
rants payable in certificates will be signed. This
sounds oddly enough after issue OF forty.
three aad half millions OF currency In the month Of
September aud increase in certificates o Indebtedness
Of s26 $50 900 during the period. We doubt the
ability OF Mr. Fessenden to dispense with issues Of the
latter entirely, and be has certainly thus far shown
strong disposition to initiate instead OF TO contract the
reucy We shall however be glad 70 find that the next
satement OF the national debt shows that this policy
with regard paper issues has been really adopted.
rne money market is somewhat active call A
number or ioa.s have been called in 20 day; bat the
demand from Stock Exchange easily met al
per oeot The withdrawal OF deposits 70 meet the nrss
tnstalmeut on account Of the new loan payable
on tho 2sth instant, has commenced but
90 strinxency is anticipated, owing 10 the
now Of currency dspursed during the last month or two
By the government towards toe great centres In the
dscoun, line there is very little activity. The rates
range from nine TO twelve per cent Tor prime paper and
from that 10 fifteen for ordinarily good names.
In foreign exchange the transactions are limited a.
former rates. buyers being very critical as TO names
Bankers AJAX Og for long and ITO In gold for short sight
bills.
Tho sub Treasurer reports to-day az follows
Receipts from customs s...............-... $lo90oC
Total rec eiuts 2,439, $50
Paymen.s s.............. ............... 1896 2s4
..-f. ~ n oca