The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-01-26
NEW YORK, FRIDAY, JANUARY 26, 1866

mucD 70 deaf carr people who 10Y they cAnn9s help
IN ths train the speed 10 express the rails ahead
under repair and they have themselves nothing TO do
but 70 SIT sun and take Their chance = q. ,sA ss.
Aepes uefirss They will be told that u was nothing
than enormous commercial speculation, in which
both countries wiling partners and IN which both
had their gains and losses There mutt DO thing
holding ones hand IN these matters IL must be POSI-
bic 10 prepare the chip for the storm indicated by the
falling baiomster-thai IT, by the rising price OF money
But America ia not our only customer nor s that the
only quarter IN which we are sowing money broadcast
year fresh spseuictios in which, ss general rule, the
shareholdng public are only sleeping partners being
committed their fcrtunes Excssees Of this sort encour
age and foster one another; for rash project that
going begging and everybody wise, can easily
insinuate Itself into the public favor IN crowd OF pro-
,ec,s equally hasardous america VIII oe able 70 say
confidence that II thrust upon her and that
cannot DO said we haze Jared wofe from her than we
have from one another
A RKw YORK IMPORTER ON TBH rlsAScIAl sITuA-
rm EnJToR L1~nos
ne reIcarss 10 yoar cry selomnof me s, INST WITH
country with the United siatee and your 10
the subject the 4th inst. and in stl stronger
terms your issue Of day. have attracted tho aten
on and awakened the interest wbkb tho magnitude Of
the amount involved naturally depinds,
AS familiar TO some extep. With al least por-
ton Of the subject il appears 70 that, whine your
comments upon the effects which have been produced
upon the money market here by the Of the
past months entirely true you have not attached
sufficient weight 20 two very important features OF the
matter under discussion, and hope you will permit me-
briefly possible, point out the rost!oD tte
features refer TO- which are 6rsi the large u
nyestment OF British capital VII iel has been going
the United States; and secondly, the equally largo qni-
daiion Of the Indebtedness for MERCHANDISE 10 this
try which has been simultaneously taking place
The eloee OF .e American Wal iooId NE entire country
at home being wholly unable tosupply he demand for
such goods as are made IN botij countries and large
amount Of goods exclusively nade here beng also
qulred, a very heavy amount Of Brtsh goods war
shipped TO New York during the Last months Of 1900
these goods being almos entirely for American account
the profits the therefore accruirg the imJor
ters in the United States and not coming back Ia THE
eide, as would have been the case bad bs goods oeen
Such parties this side, however have been EMP
pers derne the period referred 10 70 the States
ufy 20 the fact that arriving these thImenW did 10
exhausted market, the whole paced Immediately into
consumption, and paid such profits az have before
entered into the experience Of shippers here.
Up 10 recent date The qusnly OF goods arriving at
New York in excess Of the demands Of the
try, as 10 evidenced by their Immediate se at saiisisc
Tory rates
For hese goods thus cold at profit the importers in
the CLited States not indebted 70 ths country 10
true that creds are still running here, Add no doubt "
considerable amount for merchandise intended for late
autumn and spring tales which Constitute the shipments
from Liverpool for the months Of November md Deem
beT.
BIZ, for the large smcun, OF Merchandise which wen,
out in the period embraced fro May 10 October nclu
sige constituting the bulk q your present Board Of
Trade returns this country has received lie pay being
the universal experience OF houses here engaged 10 the
American business thai their retances from importers
the s,stes more promptly and fully made,
saIsners OF the leading bouss having for monts fast
ccnstanty and largely anticipated 'be'r itoehdbes On
this side
II he manner J conceive, 10 which Tho exchange
which has teen uted he sesfmtD, on these t'aufac
tions has been created 10 New lors wth lies the
psusfon Of the aprarvrt snossiy, aud the fact that
you apparently rece'vne TO pfororuonate fstGYseH
rbe shape q prccuoe az, "a ~ Acsenoe, poid For
months your sSflmns Rave hone wines W The fact
that there pront The r srosou az gold from
Tho Unitse StAos she berg th, Iotwith standing
me heavy shipments Of sooos nom ,hs r.de amount
OF exchange has been mssng upre tnI sueept to pay
for them against United sss's lvs ;veuty bonds, ral
I" he stslass !. ne -sss OF ss.-nes. cr.eTrrr
there promising iaenAiive interest 70 the investor
here.
n s.nly necessary 10 remind yon 81 the neeotia
iions IN Lordon o. TIE New York and Erie and tbs
together 70 nearly f30o0 oc0, 20 show ito
tent 20 which the exchange between The two
countries have tton anected ~ th.se uaDs-
actions II 10 further "a h. tome n mind that FOR a
large smogIt of the commitments London the. a.
change mas yet 10 be oswn IN 10 United States 20 thh,
10 whatever extent this may be tie case the foods
gong from Liverpool will he setiIed fer thereby and
TIE balances 30 far adjusted
leaving out q consideration, therefore. TIC anger
questions how far Great Brian srofd 10
the investment Of her capital the United States
tho rate OF interest whcf m ut b. her. t.or.
the attraction of sound American invogimsnis -
neurazod and The rossito eject other respects q
the large amount Of american EoclTlues wb.ch tha
that the United States have ALREADY pad tbs county
for the great bulk e. tho shipments 81 tt5 AId thai he
amount Of eIsfsbgc stl g. 10 drawn N New Iork on
LONDON engagements n'rcaty uttered INTO - sgr
Gent n.asL tdo "a render tbe rrctat ros Of E1ch
advance gold exchange there a, yea cdsy refer 70
remote.
II rnay not he improper also "a fcuaTs TIA; - the
opinion Of many ~ The sogndest mcgee New Iork
that witt ne aTEe amocnt u bllon ~ yrefent ttld
tLore, Increased bas been BY the receipts Of The
lat year nom tanorna and other folts.rng res org
nlbe Territories, dunrg which axe tLeTJ he teen 1T
"a mt gHN lVfs. - Ia
h. sVarod a. seLd % o. side fEcud the taug's
require a. aEd important adj .1ce &c prodacsd IN ne
premium
u may also he proper 70 observe bai the habit q
tie largest houfcs ttc lnt,d states engaged nc
fore 81 business 90 kccp her tT.Isaconf On So
bAsis-tbat u 10 ssy a. constantly convert The amount
OF thor sales INTO gold or s'eTns '1clAngea i-rt sicL
materially reduce The probability Of her bsnf 'ctsa
by any changes The value 81 The clTrency, especially
vLcB . 10 remembered that The tls- nets y manly
The hands Ct Originally strong nogses, vEo have bssp
molina