, 1865-02-16
FINANCIAL and COMMERCIAL.


WEDNESDAY EVENING, Eeb. 10.
The arrival in the port Of New York yesterday
of twcnty-oue vessels loaded with cotton from
Savannah has had the effect of weakening the gold
market; but rs this cotton hns been expected for
eono Tine past, the decline las been mostlJ anti
cipated. Notwithstanding this, however, the full
effect Of such IN import will not be fully realized
I'LL the sale OF 1t In effected, and the sterling bills
given for 1t are made to swell the volume offoreign
exchange which Is NOW pressing on the market
and tending to depress gold and dcprecfate va1ues
generally. Estimating each ship to contain !, 900
bales Of cotton, the value will not fall far short OF
S60C000o. Now this Is equal to throwing that
amount Of gold on The market, and whether It be a
week or month before this takcs place. 1t Is sure
to conc, and when that period arrives gold must
feel the effect.
A memorial Of tho citizens Of Savannah has been
presented to the New York Chamber of Com
mercc. in which the following things are asked:
FTrst-The restoration Of the cotton tsefzca By
the Govcrnnent} oE It's psoseeda, being the pst~
Efcond-Lberal trade regulations for the barter
of domestic commodities With the interior, In e1-
change for cotton Other pEodaee With TIM
outer world, as soon ~ militarJ rule Will pernlt
The n, T, Shipping Lfsk advocates the rcstora-
lion Of the proceeds Of the cotton on the ground
that without 1t tho citizens Of Savannah will not
be able to pay their Northern debts. We very
much doubt the proprlety 5f doing this On any
such grounds. These Northern creditors OF
Georgia did more to encourage the South 10 rebel
and to aid the rebellion after 1t had broken out,
than any other class Of men North OF South, ont.
side OF tho leaders and as tho Government Of the
United States has incurred an immense debt in
subduing the rebellion, it Il highly proper that
those who caused 1t should help pay part Of the
expense 1t IL nll very we'll to talk Of generosity
maenanimiV, &C., but before We act On such
prlncplewe ought to be Just to ourselves and to
posterity. II this cotton ia given to these North
crn creditors Of the South, the people will have to
make 1t up by paying Just so much more in tax
alton. Let us be just before We are generous. at
ali even.s, It would be well to wait till these
Southern debtors have laid down their arms be-
fore we talk about paying their debts out Of the
peoples pockets .
The heay1neas in god had depressing effect on
tho produce markcts to-day. Wheat declined 1e,
oats K6lHc, and pork was dull and dropping, with
scarcely enough doing to establish prices.
There was more active demand for money at
the discount houses but the market wns found to
benore stringent than for several days past, aud
the brokers refused many good names In consc-
quence. The rats Of discount Ia unchanged, viz :
10 per cent per annum but the street brokers did
heavy business today at EOS per cent per
| month. This being the 18th day Of tho month, a
| good mnpy contracts tor produce and pork ma
tured, and the demand WAS more active On that
account
Eastern Exchange continues in very active re-
quest, with but meager supply. Under this state
OF adatrs, the market il firm Ut par buying and t
| per cent premium selling. The majority OF our
| bankers had to forward Treasury notes to meet
| their drafts. :
Gold opened this morning At s061, and became
gradually weak till p. M, when 1t rcsched a0if.
The following nrc the quotations telegraphed to
| .Jarnea Hnyd r01i-broker: