The New York herald., 1864-08-25
FINANCIAL AND CONNER CiAt..
WEDNESDAY, Angus, 2s-eP.

rumore Of pending peace negotiations and ne ~so'aN
from Grants army Some who profess 70 ne wiser
than their neishhors whisper cotndentialy shat tne
President has appoioied comm ssicn Win EDWARD Nv
erett at It's head proceed 90 Richmond 70 confer WIN
the rsbe ohs with view 70 peace Others that peace
commissioners Georgia aud North Carolaa are Ia
Washington the least creduous ind hard 70 resist
tbe be,a, that there really something in the wnd
Re that however may, this Is country in wh'ch,
above ali others talk leads to aoton and in he present
state OF the public mud events tending to 'ermiua-
ton OF the war happen where they wonla have
been before impossible. IRE retirement OF Lee, for The
present least from the struggle Tor the Weldon Railroad
which OF vital importance him, re .ardsd ss
other step towards peace the overwhelp he
rebels with disaster, the they Will be inclined end
the war by negotiation The bears the Stock Exchange
and In the gold therefore all the oopnaen,
and both stocks and gold Kely to submit further
decline during the week. Tae banks and priva;s cat
ists in view OF the unsettled feeling which prevails and
the withdrawal Of funds TO the Western crops
pursuing conservative policy and collaeras and sigma
lures not Of the first class closely scratinzed
than they have been the las, or tnreo weeks.
Loading stock houses however, Gnd no difficulty In Dor
rowing all they require al seven per cent
The increasing armness government securities in the
face OF the alway and other shares nccords
with the belief 10 the possibility OF an early peace bat
the decline 10 the former is supposng that
far on-wbch may be reasonably doubted not
entirely premature and the result OF and specu
lstion, and must be followed by sharp reaction We
maintain that the of peace by reducing the pre-
MUM on gold will Increase the real earnings OF rasays
and make railway, as wen all other real proPer.
", valuable than it Is now, although
nomiually there will be decline OF p.iccs,
but not TO the fun extent Of the appreciation
OF the currency Railway stocks are selling for hsN
their original value, sud there real why they
should decline unless p sympathy with considerable
fail in gold Speculation, however has neither law
reason.
The Ias, returns OF the Bank Of Engl,nd and tho
condition OF the British foreign trade and money
ket. indicate grea; danger sriugeucy which snt
easily eventrate panic OF ordinary character
which is directly trnceabe TO the this county.
With the Interruption OF the trade in cotton and other
Southern products large anlcuut Of capital was left
employed md capital, ike taient, always follows tho
market, found It's way into othe channes Incse aese
as 70 be expected under the circumstances
chiefly speculative. mania for JOINT stock companies
for every imaginable financial snd purpose
set In pretty much it did after the resumption
specie payments in Great Britsn few years olo Ing
the conclusion OF the Nspoeonc wars when the country
experienced Tor long time unexamplcd prosperity, and
the great south Sea bubble bad it's day But this led
70 amount of imitation unsnown then in En- and
and we find gigantic enterprise Involving monvyed
interests INDICTED on the Hsies possible Foundation.
Even the Bank OF England Itself next door 70 inso
vency If we judge it by the stern logic Of facts and
Ggures. and the capitalists Of tho nation may welt
DO anxious about the future 0. this STATE CT
things. On the l2th OF August last, accordag 10
Its weekly staiement the total liabilities OF the
Bank, in its banking department, si9 ,o3, &C.,
while its OF and coin to meet rhrss
amounted to Only SIS 900 ,2s5. No worder, tbereo-e
that, under strong and Increasing demand for bullion,
IL should have raised its rate OF interest 10 eight per
cent TO check the drain upon It's coers and that
thor advance to nine anticipated before long
This strngency is owing moro 70 the exports OF cou In
return for cotton and other produce TO India Egypt and
Brazil with which there is na corresponding return |
trade, and the imports during year
have uuety per hoee 0, the former
one than to the absorption OF capital to sustain the
now joint stock associations, and therefore it is all
the serious ard likely 10 continue In the OF
this coming to sudden termination, the OF
Southern products TO Great Britain would be large
tina; the demand spaoe pay FOR would force
the Bank OF England INTO position than 1t
pied in 1867, and the majority OF the banking and
other corporations would In all probability be swept
away by the financial sirocco that would set in
Foreign exchange dull. Bankers bills London at
three days quoted 1881 FOR gold, or 277 Tor
repcy; francs nj 6.l3i5 10.
Tho stock market opened weak at the Gfst OF
the board but gained little strength the call pro
gressed Compared with the noon sales yesterday New
York Central declined per cent Erie Railway l. Hudson
River 4, Reading 2, Milwaukee and Prairie d. chien /,
Mchigan Southern 2 Illinois Central s. Cleveland and
Ptsburg J. Chicago aud Rick Island IL. Pittsburg and
Fort Wayne III, Chicago aud Northwestern 1, cumber
land Coal 2K, Quicksilver Mining ~ Aariposa u, and
,u,o r ssisspp certificates n In the afternoon the
market FOR both railway and miscellaneous shsres and
WAS weaker with the exception amoog tho
latter OF the sixes OF 81 which were firm opder pres
On. and prospective home and foreign demand
The highest cash prices OF railroad and miscellaneous
shares at lrs session OF the Board Brokers to-day
compare with the quotations OF Wednesday Of last week
as follows - .o