The New York herald., 1865-04-24

q y at the Evening tx hange Ihs extreme quots'iohs
ON the Stree, during the week "ere-
Hghek Looet
,tona,v .... l53 14Sh
Tussday 147H l461
Wednesday ....-....... tNo trahsacions.)
ThgrsdaJ ....-.......-.....- no TRANSACT ons.
tslssS 1897, 1879 is5s is,'s
Foreign exchange advanced under an increasing dc
maud the two last days Of the week. and bankers
asked los1 for their sixty days bills at the Close
The stock market heavy carly in the week, but 1t
Afterwards recovered much OF the decline Eric was
the strongest and most active stock the list and the
othcr leading stocks dependent upon its course
Is held maiuy by two parties representing the bull and
bear interest respectively The one has bought IL for
rise The other protect himself against tho rise,
and much speculation is INDUCED in as to the I
future movement of the contestants 1t is argued
that the 'bull" leader will sustain the mar
kct till the outside public have in to ab-
sorb large portion Of the Stock when he may sell out
without breaking it. This however, would be counting
chickens they haiched for the outside public
may not choose accommodate the bull leader Some
express themselves sanguIe that Ee viii be as high
New York Central within month, which is met BY
the thai such event the latter will have
TO come down meet IL. The great abundance OF
money is however strongly in favor of the temporary
upward movement of the whole market, and this none
tiy is likely to continue from several causes and
teress of the government, well of the mercantile
community, 10 disturb it.
Tie government is and will for long time to rome be de-
pendent upon popular loans par and in order to insure
Of these the money markets Mt the great
tres must remain free from embarrassment The national
banks constantly adding to the volume OF the cur
rency and the smaller denominations of scventhrty
notes likewise assisting the imitation, many of them
being used currency; and long as the public cxpen
dtues largely exceed the this state OF things
must continue To talk of racng the currency now
with view to the speedy resumption Of specie payments
is absurd because impossible even II suppose peace
be entirely restored at the present moment The total
receipts internal from the LIST Of July tn
1st Of April only $3.50 6o4 S46 and after allown
for future receipts 20 the end ri June next the amount is
estimated at less than two hundred millions for the fiscal
year Oar expenditures OF late have been abou, thou
sand millions year Of this during the
interval between October aud April they averaged
millions three hundred and hrtyt thousand dollars
day beyond the How far the amendments to
tine passed the end Of tie last session of Congress
may improve The revenue receipts remains TO DC
Our revenae rs il is however, indicates the general
prosperity aud commercial and financial Of the
country. We hwc, 1t ~ undenabe managed our
finances badly ia the past. but We have had large
TO draw upon, and bunders OF policy VII ch
would have been fatal other countries have left
comparatively uIscathcd. .1ne of success
has been commerce. II with Great Britain
while with France The of the rebel defeat
has been ther wapi OF commerce II true the rebels
had cotton and other rrrduoe but II was rot available
TO a sufficient extent for commercial purposes Their
credit deciinod cr currency rapidly deprecated, and
with their 10 deserted for soldiers win not
nght, than ordinary N civil life viii work,
withou. pay. The thing nearly happened in France,
which bankrupt ana nearly conquered just prior
10 the return OF Napoe from EgJ pit, and this also was
through the want of commerce. But Napoleon
quick the danger OF the paiion and u make tho
best OF il; with which view he authorized the Establish
Ioent of the Bank Of France and adopted other
ures ending lop The fiscal of the country
restore confidence and improve tho pubic credit
Our is likely to receive impetus from the
war during the next ten years. immigration will pour
aud our minerdi and agricultural lands will experience
new aud extensive dcs clnpmeDt. But II would b
cerala!y sastrOus, If we ma! judge not only hy l.
experience, but aat OF other nations, to attempt
sudden contraction OF the currency. The great panic
which commenced IN England 1925, and which caused
the failure Of nearly all the leading banks there
tae reFuit Of the withdrawal OF bank
notes from circulation after the specie pay
ments following the long pension The whole trade
Of tie country piosiraed and the specie OF
the Bank Of England reduced to little than mil
circulation had to be increased again fast possible
and in the OF few weeks aboat eight million
pounds in Bank Of England notes adird to the
currency.
The Commercial panic of 1sIs-io in this country was
the result Ia like manner OF u to specie payments
But the strnsency then aggravated by the vuiion
in South America shaitng og osh supplies Of gold and
silver In our case al the present time the opposite
dions with regard TO the product of the precious metals
Il. 4 a
lied from tho operation Of the United Bank
established under the anspccs OF Clay and Calhoun IN
isI6 the old United states Bank having expired In 1911
Specie during tho Of 1s12-li had risen premium
oi IRON forty 20 fifty Per cent, government
paper, thanks 10 New England so the country was
financially IN too SICK condition TO experience
the ordeal " a promp. return speeic pay
ments without commercially breaking down under
IT; for those "nt had made contracts in the
depecia'sd currency vtv naturally fouyd Themselves
unable 60 pay IL GOLD fhareafs TO specie standard M
all hazards u.s. therefore, clearly anmixea good
when practicable, which, case, Wi, not be
for at least ss yesr TO COME under tho most favorable
circumstances Ne cen mag ine. Mcauwh lille yyc'
have debt OK M nr from twenty iyc hun
dred llion5 10 p.ovde loc When, however,
the goyernrlsat is ia a position dispense
with looms The process Of gradual contraction
may be begun, and IN OF time the Whole o. the,
Treasury paper may be funded lnd the National and
State bank no,c5 and con all the purposes Of
circulation The ordeal oi returning TO specie payments
will be in any event, and Whenever may occur trying
one, and some Of the banks vii, uotless siccumn,
under II. Thon 1t viii be taa the strength Of the ma
tonai banking system will bo most seyqrey tested
pori, for the week ending Afill 20, woro valued n,
$3.50 40 The total imports Tor thp week compare as
fohows:-
Wsk ending E-rch 30. ApaG. .ipTi H. Apa 20
Dry goods. i0.s, 1872 s'i Iu I,4-; $50 AS s2I
Cen mdsc... q U55 Gs5 lsJs AZ 6sS i7o 6s6 $50
Total...... s30il,s'j 25y2,5,j Gll5,329 ,l22 500
The New York imports of foreign dry goods compare
as fnllnws with furrner relurns--