The New York herald., 1866-06-04

1t requires to be remembered that the recent in the
premium due solely TO the increased demand for gold
70 adjust foreign accounts against u.s. and not to any
distrust Of the public credit Gold, like any other
commodity is Influenced In Its price In paper money by
supply and demand. In the present instance the de-
mand Is legitimate and 1t Ia supplied II will
abate whereas II t from dis,rust Of tic public
credit II would be without limits
Foreign exchange has been firm, and business Is still
mainly confined 10 short sight bills owing TO the prevail
ing distrus or European credits but confidence sixty
days bills is being gradually restored. Tie latter on
England were quoted at 109x y and the former at
Ill u at the closs OF business Saturday. Bills
Hamburg at the time nominal at SIX u, on
Amsterdam 42is a u, on Frankfort 42,s u, on Bro
men s0Z X Berlin - a. On Paris, long date, 51i
a612; three days, 6oe1 5o7K. Both tho receipts Of
cotton at the ports and the exports show continued
heavy decline, the former having aggregated for the
week only 16 600 bales and the latter II 900 bales This
after average receipts during April OF thir ysx thousand
bales per week, and exports OF nifty thousand bales per
week, seems small The receipts at all the ports since
the close Of the estimated at 1895, $50 bales
and the present stock at $50 $50 bales Of which
there at Now Orleans May 2S, lat 400 baes at
Mobile, on the 25th 424o7 baes at Charleston the
2Sh, $40 bales; at Savannah, the 25 e6s bales
in Texas, on the 10th, 1857 bales; in New York.
June ], $4,000 bales; in Florida, April 81, e.742
the lst inst 1854 bales and the exports from
the port for the week ending May 81 only 776 bales
Notwithstanding the redu ed supply however, the prce
declined three cents per pound early In the WEEK. but
Afterwards recovered cent under the advance In
gold ana unfavorabe reports relative TO the growing
crop
Recent advices represent monetary and commercial
affairs in Germany being in q very unsettled state.
Trade and commerce. were crrup'ed 10 larger extent
than was.gencraly supposed In Hamburg the importa
tion Of colonial goods had all but ceas d.
In Bandcnburg, saxony silcsia, Rhincland and
wurtcutcg the greater part Of the mill hands had been
discharged, and at Munich since the panic securities of
al kinds equally unsaablc In Berlin the Prussian
fur and half per cents had fallen from their ordinary
price Of 104 105 to So So The leading railway securi.
ties had declined ffom twenty .hvo to thirty per cent
Wi Thin iorLlht Circulating notes were pouring back
to the banks and could not be dsbufscd IN large
except discount The various roya cxchcquers were
calling 10 iEor loans fast possible and refusing
accommodations, and manufacturers disposng Of
their goods at sacrifice, In order TO be In posi-
ton to meet their bills
Both Austria and Italy arc threatened with bankrupt
cy, but the latter Power Is pelessly nsolvcnt
than the other, and for thus yeIy Italy IL
anxious Tor war than Austria She Is breaking down
undcr her abilities in a state Of peace and she
that the posib ics Of may develop some hing
= hor advantage and al rd Of relief escape
from pressing cmbarsssmcns She Is just poor enough
70 be desrcu'e The revenues Of both Austria aud
Italy fa largely short of their expenditures
peoco basis ana in the event Of tho threatened war
taxing pacc neither viii probably be able TO continue
tie "a mcnt of he interest its national debt Hence
one mts l2ak for tpnstor % capital from the sccur
ue' Q. lhcsc nations aud others which may be drawn
Into he coming struggle into moro secure Investments
an nv w much 20 tlat HE bonds or the
United stais both from her high rate or interest and
the rcmoieaes of lhs country from tho scene OF war
fare and European Complications viii attract greater at
tcntiou. Money, q other words win be likely to rock
security IN cur scUncH PIE trcnoe 10 those OF any
othcf nation The VII a least prevent the sudden rc.
turn Of our bonds from Europe ia nconvcnently large
quantities. for aitnonghn oud he safer and better for
" Of debt held abroad "A Il "a largely
held there already that present dependent upou
that part of II bong retained whcron
Tho national debt Of Italy the Is, o. January lssa
3s1T 9T9 francs or at the OF nvc francs 10
The dollar s1oS 4gi 1875 The public income "a lsas was
si22oG $50 and the expenditure sls5 07 ass For the
two previous yearsthc exp ndiurcs likewise largely
In excess Of the revenue namely
Rccips Expendifurs
1851 .46s 900 900 g73 600 900
1852. All, ,lA Oh, ,34s, ,3es
The expenditures have exceeded the revenue In
about the proportion In 1893
The public debt OF Austria on 0ctobcr 81, 1854 wss
ASA, us, ,o4i FORMS the Austrian norn being worth
about - censa The estimated expenditures for ises