, 1865-11-27
FINANCIAL and COMMERCIAL.


SATunuAT EVENING, Nov. ea, 1861
\. Buslress during the present week has ruled e.
ceedirgly dull and merchants arr generally COM
planning Of scarcity Of orders. The diversion OF
produce from this market By the high rates OF
freight charged BY Western railroads. has Doubt
1ess contributed greatly to this general dnlness;
hut n1roter the country there Is general impress
sion prevailing TINT prices are on the downward
Etadc-thaf Ccugres6 and Becresary MtCul5ocn to-
gethcr, Wilt do something 10 render money At1ug-
ent, and that general contraction viii take place
all round, in produce - well 40 In metch1ndtse.
This, We have no boaht, has kept back orders, and
.has made country dealers more cautious IN making
purchases, Meanwhile. our Wholesale dealers md
merchants have largo stocks Of good, which they
are anxious to se11, and they are "sha-
dmg'' quotations quits materially in order
to do so- We aro SONY to learn That many. In ther
anxiety to teIl, are reyiyfng the old credit system
which worked 20 disasttou.ly to all concerned in
1857, but we trust It Will no, become general The
only thing that Raved the country rom a general
financial crash afler the f11 Of Richmond was the
well-knoTn fact that scarcely any Of cur merchants
were m dcbt-they bad been working closely under
the "cash rule, and they ,Sere able to withstand
the great i which took plac. in prices ii that time
Such thing was never known before, and never
can bo again experienced II We adopt the general
ctedl, system which prevailed in former years.
Although the war is cioset, It By no means fol-
lows lha! the danger Is past We hare the Nation
nj Debt md d redundant and deprecated currency
to contRd againft In all our business transactions,
and till these finally d,sposed OF, Or some ret
ledpofcy Ia adopted concerning them, there can
be no eaIety either to buyer or seller, In an
expansion Of credits. We, therefore,
take thls opportunity Of warning our readers
ssainst either buying or selling On the general
credit system. It will primarily work ruiuously on
oue or the other and finally On both-Eor the cred
Iov cannot make prots II the debtor makes losses,
As long 40 We hase deprecated currency, there Is
10 safsy In doing business On the credit System.
Navigation is now nbous closed, and the pro-
duee-ehippfng business fs virtually over for the
seaeon II fs true, II ths present weather contin-
ues, We may continue shipments for week or two
get; hut 1t will not be Renersl.
The Provision trade, which ought now to be at
I. height, IL dull and liteless. Both the pork and
beef packers e holding Of till the prices OF product
and hogs and beeEcattls more nearly asgimi!ate.
Thus far only nn1ut 70, 600 hogs and 5000 beefeat-
tie have been packed.
The demnnd for money during the week has
exceeded the supply, and the market has couse-
quenty ruled close; but during the past dn5 Or two
there has been Less etriusency felt than during the
beginning Of the week, Ihls, however, artses more
rom a; decrease In the demand than from an In
creased supply4or nearly all oar bankers have had
to express teaeury notes daily 10 New York to
keep their balances up.
The rate OF discount is unchnuged, viz, 10 per
cent. per annum; hut The private bankers are
charging 1a0e0 per cent. per arnum.
During the past week there has been an increased
demand for long loans by resi- estato holders. hut
the general scascty of money has operated against
borrowers. and as q consequence, prices Of real
estate arc rapidly falling II this continues. rents