The New York herald., 1864-10-26

Of four per cent took place within hour and hail.
no quotations we're az follows
10 h;;..... siSH sr; ..''.... sis s,s
u 80 A. M.......... 2l1A 445P h....."...." 2i4
1P. M............. ZlSA
Is impossible to calculate tho course OF gold
from day TO day, in the absence Of important
news TO influence it, dependent, as II is,
upon tho caprice Of speculation It's natural
tendency at present downward because the premium
,s considerably in excess fair protion estimated
by tho amount OF currency and national debit but n
the course cf me the sting policy Of the govern
mont persevered IN. the debt and currency viii have
30 far natural tendency will DO upward,
and this will doubtless be actively assisted by
speculation which, during long suspension Of specie
payments invariably preponderates In favor OF rise
Tho buls OF the gold market always eager to dis
count the future and is in view OF the prospective NJ
GREASE of the currency that the gold premium
has been sustained higher figures than the state OF
public affairs the time being actually warranted. The
misma uasement Of the national finances, involving
the rapid and constant augmentation OF the mass OF
psper money In circulation has been worse than
military disaster would have been in fastening
the depreciation Of that And that runous policy
d stu being reckessy persevered in, and the value OF
ths whole property OF the nation impaired accordingly
and will continue be TIL Congress authorizes measures
which wil at least remedy the growing ev, OF self
Destroying currency When mitigated
the soverument win bsgin control tho
aod premium which has had. But pending
this will alternately settle down towards its proper
level. and rise, under the manipulation OF spectators
n tho legitimate demand only had to be supplied,
lhe price would steadily decline to the extent Of probably
Ay per cent but speculation sustained BY the fpanctal
sAcetanties Of the future and the unfavorabe certain
ts oe present. furnishes support 70 It which only
"a hmprovemeet 10 fiscal policy weaksn or with
draw
M sluggish condition OF the money market reflects
tho inactivity OF and speculation There is very
Ntsie disposition either borrow to lend and, pend
tag the Presidential election ths state OF feeling
q likely 70 continue, Tor the general impression 10
that Q period Of duness induced BY the proapect Of
that event and uncertainty with regard TO It's
results, will intervene and when such an impression
geuera goes far insure corresponding sate Of A.
Mirs. the dangers attending financial and commercial
Interests In Britain and France tend TO increase
dsruss future here for the pretended wise
scres Of finance and trade ignorant enough
OF cause and effect, and the influences the affairs
OF nation exert upon those OF another, 70
take alarm unnecessarily and magnify consequences
That the condition Of monetary and commercial matters
10 England very insecure and that panic, does
sst in will sweeping and disastrous great Ore
10 q city full Of combusbles and wooden houses, with
powder magazine-i. the Bank Of Eugland-in its
osatre, cannot be doubted. But supposiug the
worst 70 happen in Europe, this country stands
10 far more independent position towards England and
s Europe than England and ali Europe do towards It,
Financial and commercial there would
demaad for prompt payment Of foreign debts here and
20 faS there would be a from the United Ssates
Bot our Indebtedness Europe very small aud little
" arrangement on this account would ensoe.
Some Of bonds, II is true, might be sent back 70
the Of tho gold they could be turned into bus
~wofth tho~a hQld (srAaf and
che countries which would be most Affected by monetary
disturbance.
Tue prces OF American produce would also decline 10
the Of panic England and this would lead 70 80
much direct less reduced profit to the exporter but
would the advantage Of lowering the prices Of pro
at homo and cheapening every mans daily food
ths influence Of profitable foreign market being to fos
tor speculation al home.
On the other hand England breads future Of
on this continent for she knows that whether not
she escapes panic during the present year,
she viii certainly be ovsrtaksn by when
tbe American closes, and such an one as she has
yet expsrcnsed Looking at tho probable conse
queDces this country Of panic in Europe in their
untavsrable light, We can see in them nothing which
should occasion the least uncasiness
The demand for money from the Stock Exchange is
light, and easily met at per cant. The supply Of
nrst commercial paper small and the usual rates
lures unmarketabo unless At high figures.
Tho increase deposits apparent by the hast weekly
statement OF the associated banks. potwishstand-
log tho payment the 20th instant OF ten
millions OF legal tender notes ou account Of
the now loan, Ia q remarkable feature or the
times. Il that . considerable portion Of the
referred 70 pst Aavc been derived from other
sources than Tho pnks; namely from persons who keep
20 bank sccoun1. but who, having made money -
ka~rA
ploy that n remaios in private hands
Tho scarcy Of currency among tho banks Of the pripe
ba three months ago anomalous feature Of
money Market OF the large amount OF paper
money anoat and at the time attributed II 70
boarding, and This is still very common practice The
Gov currency from the army and other sources, con-
seausut tue heavy dsburenonss OF the Treasury
during the ssttwo months also operated to countersc
the eiccs or whsiever Withdrawals Of deposits were
made 70 meet TIE hrs OF the loan referred
rbe fcre'gs exchange market Is quiet but firm.
BAnkers SIXTY days bills sterling are Quoted at 1921
for gold three days brs, no q =, Mercssu,s, bills
ass offered at I0s "a a
the United sta,es sob treasurer In this city reports
to-day a. foilows-
ReossrHs from customs ......... sl4soo0
Total receipts. os27Si
Payments. 3,5104g3
snbsor, r,p,ions 20 government loan ....... 2ea ooS
The aggregate amount Of exports, exclusive OF Specie
from the port OF York for the week ending October
70 wss 81, ,72s,si0
The Boston Traveller OF yesterday says
Money sssy OF access the banks and 10 The street
Tor tue beat and discounts, but more dfcuy is
erper eooed 10 obtaining u second class paper and
weak collateral security. The stock market B without
yvoe %mtseD, but thers are - msDy buyers ~ sell
Y,e - toa Quotations. the principal demand 10 ior pub
n tso.nu~ And railroad STOCKS iSf Investment. and
miniLS stocks f,~ spccuiei a.
ms t@s~sms comparative ststsmsot shows the ave
rsse cona'cn o. the 'saciut items % tie fhsdciphis
backs TOE Ne past aao !, eyioas xeess