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

Ne financial affairs Of our customers are liable she
sonvscted a. the current rate Of exchange would
suinous under sudden advance such as has Vseu IRE,
s0sDy during the 9e ssa
Aese and comparative ownese Of the preniem on gold
st New York has consisted in the enormous charac<r OF
abe supplies goods and capitol lately poured thther
Srom this ssdo At the same time these supplies OF
GOODS they taken under protective tarf OF mo
Highest strngeDcy give appearance OF prosperity 70
ne federal revenue may excite the most deccp
i've anoipatiOns Should TIE rate Of soon1e Advance Ten
Nme comes 10 pay 10 receive, and the revenue
NJ The same moment exhibits falling or Hate
ssoosYuss n Lanoa.hire sq6crti;re aud other firms who
now relying upon the receipt OF renttances at GER
san meet the food OF bills which represent in our
discount markets their American ventures. financial
Nike all other history repeats itself but apparently with
se emecs a. has NV nscn,n. ,aoe me nyare
~ debt nearly twice great in its annual burden az
that Of the United Kingdom the REORGANIZATION Of fpur
million aborers the hercost sectional antagcnsm, snd
above ALL the existence Of protective and prohieipys
system only be paraisled in China japan areHs
drawbacks unworthy OF notice in estimating The ntsre
development OF the energies Of the country bnt
something akin TO this has been Witnessed before Sin
1885 the great FIRE Of New York destroyed nearly al he
merchandse in that city, and brought ruin upon almost
every commercial arm and public establishment he
Enghsh correspondents Of these houses stood agheet
and apprhended only the oss OF all their clams,
but that ere must be lapse Of years before the trsce
Setween the two countries could again it's healthy
proportions The Americana however rallied instantly
and declared the blow 10 be nothing Indeed the caa
nv would inspire new energy and thus actually adto
sSeir greatness and render them more powerful than
ever All thai was wanted was British capital and con
adepce To the astonishment Of England i seemed asf
this really the During the following twelve
months the business between the two countries T.
famed point both Of magnitude and nominal pro
~ before reached British capital and confcenre
wore poured out in the measure desired In 1887 bsd
harvest this side sent up the rate Of discount Sui
America could not pay her debts Three American 6ras
Il zen millions sterling and the United States there
scarcely house TIA. did no. suspend In the me
FORTY Of CAGES the ultimate collections amounted 70
nothing and finally Bankruptcy law passed which
repealed II had done It's work Of cancel
reputation Of the debts Of some Of principal
population which, in four instances, has been main
70 OF ases Of
we're largely held In Europe, and especially in Holland
70 The great majority Of our trading population ese are
count establishments that must still bear them in re-
SembraDce u is for them to consider whether any Of
fhe features Of 1880 can be traced ION scale larger IN
proportion the subsequent growth OF commerce. In
1850. II may also be well to remind them that when
Kneishmen at that time accustomed to deplore
Me losses they had sustained they frequently met
with the not altogether unjust rcjonder from America
that they should reproach themselves for having by
heir lay Ish and ndiscrminate confidence impelled Q
young and sangune nation into extravagst career
ALL TIE AErICIPATED TROUBLE cOsnNG FROM yBR
UNITED STATES.
from the London News, Jan. 8.
AZ regards financial matters the new year has opened
sniavorasy The advance in the rate Of discount at Inc
sose OF the last quarter has had the result Of uDseng
Me money market without preventing the steady drain
upon tho reeonrces Of the bank, which has continued
throughout December does there appear strong
probability that the further rise IN the past week wi,
prove moro eectual As long as trade continues upon
. r,e ,n ,'SHn,S io ~ DUN sns
- pf0poft'onAoiy be@sy, sumc'enuy 30 70 9n'e over
Eass tne nmHs imPossd ~ ouI exsuns ys'em. sn.e
70 &c Piesumeo uAI no one "ouu eesne 20 re
ome twenty years eacs, obvious that we
Yiopei course wouie DC 70 acapt ,he ressns law
however, Is never in want OF supporters and hence,
n topai asrefaIo OF All he essons OF exp leL1ge,
sSsameni a. Ieast with per.lnacSas assertion IN me
s" ~ .,.n.hances r,,ch hsrn hsen ssnsesIlv srs
.aon, daring ,he last ,wo vears and annesr Ieslv N
Snsn. oulng VIC nss W. ysrs anu aPpe' "AeS W
,.,,n %, nr ,.as =, ,...n, a. so,rs,.ba, ,oc,
~, ou, ," ~ ~ .res "a. a.. h
sapsIs 70 tne ph.eu s.aes oecreasea, anI rom s.ana
81. on he n ~" ,h ,pd ~ sh Th SUI
49, 70 ~ sr,rsmcs o non, and ,hsreo1s vhsn
.ssno was 70 cs,ahsbsa cnrrssnom,5ng Senans arose
FOR her repsnishmen, large and profitable orders
sIsses os,aw material nesesssry ,ncressed Thus FOR
the las, months the remanses India for cotton
a , n,.n % 49, ~ o,i,snr , ~ ls +, hy
swsvs scen Inc hsht Of Enslsh trades TO allow eer
n rec" aoroAa, anu nenve nneroa = 40" "a ~, seue
se a. ,he s Ts,hs ue we Ra,S
AND Egyrt beng satisfied with liue or nothing but me
I',eoas me,s SooneI or ,s'er we eaee n'as'
United States the money previously employed win
,.ps.'' ; .ha a. Io Ell, nI Us
Ienlary deficiency Is sunienent 70 disorganl<e
~ Ho1e ~ s ~ e Ds =, " ~
ena.,' w. =, " y, ~ c en.es " n...
1919, n.,',u, nu va " tn w ~, ~ ~, ,snSI ~
~ "p 'a, 80. my sasy ~ a y.
80, @ ~ - -, .s 80, W t ~ -, ~ ~ H 49,, ~ ~
VIC Imply oie'sss W out on iueIa
slough not always sautary Al the present moment
advance by the bank eight per cent has on the
hitter ground been altogether unnecessary On
have foreign loans commanded less attention than
nov OF he two last Operations introduced Tic one for
Turkey has far the British public ~ concerned,
TUNED out practical failure, while that for the Argen
hnc republic appears 10 have little chance Of
Only conclusion open, that the late action Of
tbe bank has been exclusively directed against the pre-
expansion Of foreign trade not against
productive eNiraneous investments