The New York herald., 1864-09-09

:.
We have dates from New orleans TO September /. Fne
Pcay,re refers to the cotton market 10 that city as
follows
The market may be quoted at 81 s. FOR low ordinary
81 70 Tor orinarys rs 81 SO FOR good ordinary ana
81 IS for low cdng but at the same time the hss
sufficient extent 10 MAKE orr G-1res much
more than nominal
The general commercial year in New Orleans closed "a
the 3st of August aud during the twelve months pre-
csdns iGl 500 bales o; cotton landed place
the price % which has advanced one year from Sc IS
cents % It's so per pouud Il costs mora morey
now to ten thousand bales Of cotton than il did 10
move ooe hundred thousand bales before toe breaking
out o. the rebellion.
i sounds somewhat anomalous that the Bank or Eng
land should De weakest whn the commercial prosperity
Of The country greatest ou, this state OF the can
nevertheless be easily when we come 20 re.
nect upon the excessive England has for ber money
At the precot time. That The finances the rans ci
EHsiand are 10 very unsatisfactory condition we have
before had occasion 10 mention and, although raised It's
rate Of discount weeks ago eight per cent the
msterisl sgns OF improvement, the state OF lie bank
ing department are very slight the advance ~ the
rate 70 tns instance has failed 10 cause that in
bux OF money into the bank Golfers which
usually attends such movement and FOR which together
with check upon tae drain, IL s specially designed
According 20 the bank rct1rn for the week ending The
18Th Of August the Liabilities in the banking department,
Werc Ii'so--,osO. Nnle tue reserve 10 CON
was only fs 3as 26aor less than one.hrd on the 24h
OF August this had Increased to f6eI ol With
out any important changes n other respects But this
very trihng Improvement, AM tue particularly
% a. u Is hardly likely 70 b. sustained FOR gold beng
largely withdrawn 20 the country districts, and tie
demands for foreign cotton b'd fair 70 be 10
great as they last year. A sti!l higher
rate 0 discount is anticipated and hong
continuance of dear money market is Dot mproba.
bic THIS viii DeccssarilS tend 70 check the uortnste
speculation which hss been going forward 10 Great
Britain for the past three years. and which bad origin
10 tne interruption OF the British trade IN -ouhern pro
oucts consequent on the 10 this country. BIT
shows the Seakness OF the Bank of England and its
inaethty 70 Withstand heavy drain from any
quarter II for instance, this termination
VINE Toe bank remained It's present condition the
exports southern produce would gre that the
bsnk !" togan1 would, 10 oil probability. be unsble to
mso' we demards upon Ii, and would there.
i"e oe oomleled TO suspend payment The
oxmtng financial weakness OF the bank IS directly
attributable 70 The heavy drain q coin 70 Egypt praz
and other places with which there s no lsrse p,th a.
port trade to pay for cotton other produce formerly
received from the Southern sta,ss as also 10 the cro,
demsud for money which bas prevanet % Grea, Britain
number OF new companies and ventures Of OH Kinds
which have been set foot there during this period
baving been without precedent In English history And
tho financial and commercial classes'haye blown the
suh5e OF imitation 10 IN extent which threatens ns
collapse II fortuous circumstances do net combine 10
eustala H.