The New York herald., 1867-04-23
FINANCIAL 'AND COMMERCIAL.

~sr MONDAY. April H-eP.M
Inc railway share market developed considerabl
zength to-day until late in the afternoon. when "a
cion Of about onehaf or one per cent nom the pre.
ious advance took place. The low prices nj which mos
the leading stocks are now selling arc attracting The
ention Of captalists but while they observe an ab
ence or speculative activity on the stock Ex.
mango, they are disposed to defer their purchases
the hope Of buying them still lower. Those who
AT ior lower depths to be reached hswever stand in
anger Oh having TO climb ladder in order to attain
er OBJECT The majority Of the members or the Stock
xcnange are bears except at intervals ali the year
'una' On tne principle that most OF the money
~ into Wall street by the public win eventually
iost IN decline. by which the bears will be
20 sole gainers In other words the professional
ars are the cormorants that deyour the ubsanca a.
seppointed peoalatpu fcr rise and eat up the har-
ns run. usually more profitable than to be bulls but
tide cannot run one way forever. and every dog
. MS day that Of the bulls may reasonably Do sup
psed to be near at hand after the long reign
the bears which we have witnessed. Moreover,
ia the business Of the latter depreciae the value
other peoples properly and excite distrust and APP
ehension generally, they infict injury upon the com.
unity and their efforts should therefore be resisted by
pital and legitimate enterprise. Had it not been
r the bears on the London stock Exchange
10 financial panic OF last year would never
ave taken place, and the bank failures which
srred destitution into thousands Of previously
pulent homes would have been unknown These men
sorted to means to accomplish their own selfish ends
hich dscreditable and injurious as those Of
sanderer and the burglar and they filed their own
pockets as the thief fills his at the expense Of their
ctims bear speculation carried to such an extreme
as much robbery in principle as an open theft,
I'd whoever labors to aggravate financial or COM
ercai depression or to foment panic for his own
neft is public incendiary, whether he is found in
,mbard street or in Wall street.
The supply Of money available for use on the Stock
xchange continues very abundant and loans are made
eey on mixed collaeras at six per cent with excep
,ns at fve while on governments the general
to Ave. and in instances balances are left with
Ye large houses at four The drain OF currency from
e interior still continues and win be like to do SO for
rsderable length Of tmc to come. There il no
ange to note in the discount line the supply OF first
ass commercial paper being rather light, while the de-
land is good at e5s q q per cent.
The statement Of the associated banks for the week
ding on saturday last reflects the prevailing condition
monetary affairs at this centre The receipts of cur
ncy from the interior have sweed the deposits TO the
tent Of 81 229 020 besides augmenng the balance in
4e Sub Treasury about three mions The legal tender
es have increased $3 s94 401 owing in part to the
me cause, while the specie has undergone decrease
81, 2SS6 6e4, OWING to Withdrawals for the payment
| customs duties The dulness Of business
p the Stock Exchange is shown in the decrease OF
447 in loans. The only other change is trifng
smely-a decrease Of s5s,47o in circulation The
'as OF the present and previous statements fol-