The New York herald., 1867-10-22
FINANCIAL AND CONNER CIAL.
MoNnAY. ooi al-aP.M

MONDAY, Oct A-6PM
The gold market tho whole steady and dun
oar, although during the forenoon IT exhibited symp-
SONS OF heavness The opening transactions were at
a44 from which point there . steady decline to
l4sa. but recovery followed and the closing quota
uon l4sss l44 The supply Of cash gold Wa
hrger proportion 20 the demand than at the end Of
last week, and loans made at lie, g. loA "a
end S6i per cent per diem respectively in favor Of
abe lender OF the coin, aud without interest," which
technically called fatn The gross clear,ngs
amounted TO s45es4ooo the gold balances to ss4s $50
and the currency balances to 81 526. 500 Tho marks,
largely oversod and the fact OF the aggregate specie
sn the city banks having been reduced ol0 is not
encouraging TO tho beara Moreover, most OF this
amount Is kept loan all the time and the banks
count their gold certificates Of deposit issued by the Sub
Srasory az coin The aspect OF European affairs is
closely scrntinized and suspicion prevails among the
foreign bankers who are heavy operators the gold
soom, that France contemp plsles war at no dis
tant period The French government Is known
% have latcrly bought breadstus largely this well
~ rhe English market To this is attributed the
sudden depletion OF coin and bullion In the Bank OF
France, and tho equally remarkable increase In the
amount OF bills discounted by the bank About mil
Ton sterling in the OF week, and stimuli
Sancously the discounts augmented 6the extent
OF e. 100 o00 but the bank had f37 25 i40 in coin
aud bullion lot the date OF its last return received
snis side which the telegraph has informed Of
further considerable drain OF specie These only
s,raws is true. and the provero tells that 'mau
proposes and God disposes" but, In connection with
the military preparations going forward the empire,
shey without significance when viewed in ths
hight OF coming events. The imports Of specie tte
port last week amounted TO g. I'll only.
The bull ciiques the Stock Exchange have sram
ya ed their forces to the rescue Of falling Market
general advance In prices has been the result 10 tho
great discontinue OF thor nvcseratc enemies-
sbe bears Erie has led the speculative
railway shares in their upward movement the North
stocks following order; but there has also
been well distributed business the other
active stocks One OF revival OF buoyancy is
70 bo found In tho enlarged supply OF money offering
call to-day notwithstanding the coutinS Sed stringency
IN the discount line; and another lies in the
fresh ''short" interest created during the ososing
days Of last week, while ghird is 50 be
RECOGNIZED in the necessity which ths bun
e,iques and the other bulls generally nndor to put
prices up in order to themselves from oss and put
them higher they undoubtedly will If they can. 1t
question of speculative force strategy against the
natural tendency OF prices, which Is present down.
ward Tbs market has support from the outside
public, and 1he scotment OF the street s buSh
shan bearsh, white the supply of money s limited and
TO extent, precarioua The bull cliqpes are
however, for the time being, better supplied
with money than the street generally and they
engaged in bleeding the latter at discretion When the
market looks weak the street sells ''short pecting
20 buy in at lower ngures bat the bull cques decide
otherwss and bid prices up, whereupon the
nersn Its sshors" loss and buys for rise seeing
which the bull clques sell some OF their stocks
at the advanced prices, and the latter fall
under the weight, and the operation
De repeated ad i.tt.itut, much TO the disgust of
sders, who nevertheless will repeat their experiments
tnue TO hover round the fatal flame. How long the bull
cieues win succeed keeping up this interesting game
or seesaw will depend in great degree upon the sup
ply Of money at the disposal OF themselves
and the street. The chances are against
shem, and It Is extremely dangerous TO
buy stocks current quotations. for the Withdrawal
Ihe artificial support which sustans them would lead to
Immediate panic Government gold bearing securities
alone offer inducement to either investors specu-
at this juucturc for they selling considerably
below their real value Loans caA made at
per cent satisfactory oollateras but there
wrong complaints made by tho mercantile community
af the impossby OF obtaining discounts, and similar
lamentations from the grain ports the lakes
and The Western banks that ask vain for red
Of produce paper.
The statement OF the associated city banks for the
ending Saturday shows decrease Of 81 0e0
In legal tender notes, s3697,259 in net deposits
s. 2S4 T6l in specie and s279 22 loans while the
circulation thero increase OF S5l4oo. The very
Hight reduction in the loans indicates the steady pressure
there upon the oanable OF the banks and
q regarded the most unfavorabc feature OF tho
statement when viewed in connection with the large
reduction in deposits II must not be lost sight Of how
aver that the latter Is to great extent owing to tho
OF specie, which Ia included in the deposits The
reduction the specie is owing to payments into the
Sub Treasury through tho Custom House, and part Of
the Of four millions and half in the Sub
Treasury balance last week is due 10 this The
totals OF the present aud last preceding statements
- suhjoined;-