Evening star., 1865-03-24
THE EVENING STAR.
Financial,

From the New York Commercial
There is less excitementin In gold. Operators
appear indisposed TO make any large ventares
for either a rise or q fall The military prob
abilities are against "bull" operations; and the
recent decline has been so severe as TO discour-
age com binations for further fall.
Money is abundant the supply, indeed, much
exceeds the demand; but lenders are SO cautious
as to collaterals and margins that there is some
unues az per cent.
Discounts are dull
Foreign exchange il less active, aad the rates
again tend in favor OF the buyer.
The panic In the stock market continues. The
market is overborne with sellers, and the prices
are still falling heavily.
ket considerable amount Of stock from out.
side holders, who appear to think tnat tue
speedy conclusion Of the war may produce
:, si sstssr lSTsr g aueia1On. now than @ hold
TIE decline in m rchandise, by diminishing
the means Of merchants for meeting tner pay.
-mputs has also brought from that class OF
holder. an important amount OF stock, which
Ne generally ordered sold "at best price"
Governments rallie. sharply at the morning
board. TIE recent decline brought In large
orders from other cities, especially from the
East; and at the same time there was q consid.
erabie dem and 10 cover '.short" contracts made
the price 7s2 on the Per cent. securities and
TX on the per cents After the board the de-
mand slackened and prices " ere lower.
There is special caution in making contracts,
owing to the prevalence Of rUmOrs Of failures,
compromises, &c.
The Evening Post say:
The spasmodic downward movement in
some or the soundest securities this morning
shows that all the mischlevous conseq uences
OF the absurd panic recently started by the
gold spectators have not completely passed
away. The best dividend. paying securities
are now, however, so low in price that they
cannot fail to attract investors. Some indica
tfons that this class OF capitalists is quietly
purchasing are already making their appear
aseS
"The question why general prices do no. go
down VI Ith gold is attracting considerable at
tention. The prevailing opinion as to the
reason of the apparent anomaly is that our
paper money is as appreciated as ever, because
It's volume has not been reduces, but is, On the
contrary, auguenting at the rate of three mil
lions a week by the issues of the national banks
"Gold being demonetized, as these persons
claim, has lost temporarily under the panic its
function of indicating the value OF our paper
money, the fluctuation in gold they urge is
rather an Illustration Of the instability Of our
currency rather than a Trustworthy measure
ofits purchasing power. However this may
be in domestic commodities, there little
donbt that foreign goods ought in price to sym.
pathizs more with the fall in gold than at
present they seem to have done"
The Express regards the declension OF stocks
and bonds as the result of general expectation
OF q crisis, and belle yes that the end OF wild
speculation upon military movements to be
The Herald believes that "there is imminent
danger OF general commercial crash, and in
event our import Uutl6s Will De NKely 10
decline Ear below the requirements Of the gov.
ernment for interest payments on its gold bear
ing bonds. The greatmajority of people speak
as II the lower the gold premium sank the bet
ter it would be; but they overlooked the great
fact that the government income, and conse-
quently the public credit, is dependent to a
great extent upon the general prosperity of the
country, and a sudden contraction Of values
is in compatible with commercial prosperity.
1.-THE feeling among the commercial commu-
nifty has hardly ever been more despohdent
a q nYo n0f ho lov aryva
the dry goods trade have already been forced
to ask for q renewal OF their notes, and practi-
cally large number of mercantile houses in
this city are iasolvent, and they can only be
relieved by rally In prices"