The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-03-05
sew IorE eosd ana slOcH EarRet

By TeleSraph.l NEW YoRK. March 4.
The god room to-day has been a scene
of intense excitement, and tue price de-
clined to 1 121s, the lowest figure touched
since August II, 1862, when IL sold at I21s.
A downward movement began yesterday
afternoon; sales were made late in the eve
ming as low as l414. This morning. before
the formal opening OF the room, transac-
lions were between 141s and 1875. The
first recorded sale was at 1875, after which
the price fell to 1874, but again advanced
to IA, then fell 10 llZ1s, and closed at
The Post says that the market is de-
pressed by the weakness in foreign ex-
change, and by the statement of the for
eIgn trade movement ofthe United States,
teIegraphed from Washington yesterday
afternoon, which makes the balance of
trade against this country Tor the SIX
months ending Dec. 81, 1869, as only about
two millions of dollars. As the statement
is an officiaI one ii Is entitled to CONSIDER
alton, although 1t bears marks of having
been prepared to make as favorable an ex-
hibit as possible, The Commercial con tends
that the statistics are erroneous, and that
the adverse balance should be twenty mil
lion dollars instead of two million, TO
which should he added thirty-fIve
millions for the interest on the bonds
held In Europe, making filty five millions,
or at the rate of ITO millions per annum.
The Commercial adds, however, that this
off by the export of securities. The BI-
press says Europe is, and has been for
sometime past, buying largely of Ameri-
can railroad securities, either for cash or
in exchange for railroad iron. Scarcely q
day passes but some regulations are con-
Guided with representatives Of European
bankers for some of the new railway Sc
curitles being constant brought out on
this market The cotton erop is yerv large
and being marketed with Unusual rapidi.
ty. Caution on part OF the importers has
brought imports and exports closer to-
gether than for a year past, and the oIfi.
cial figures show .oor foreign trade Is very
evenly balanced.
In the official figures no account is made
of shipments OF American Securities, and
there are many believers In the theory
that Europe isiE debt to America and not
America to Europe. Thus it viii be seen
that the railways are bringing the com trv
to a verge of specie payment; 1t is the real
cause of the pr esent decline in gold.
The decline in gold, to-day unsettled
trade in mercantile circles, and had de.
pressing effect In the produce market rI.o.
visio ms of all kinds being lower. Flour de-
cltned 10 to 10 cents; wheat, duh and al
most unsettled, Notwithstanding the cable
reported an advance of / to pence In IiV-
erpOOl; in cotton, q great depreciation was
felt, and the buyers and sellers brongbt
business very nearly to a stand STILL Prices
declined fully half per cent, and there
was q disposition to specu ate on still
lower prices in future.
The decline Ia cotton ofIate has entafled
heavy loss es on the part of SPECTATORS
no ding cotton in hopes OF a sprfno rire
and he market is IN that feverish eondf.
tion which might result In much lower
prices, If the cotton on the spot was thrown
on the market
MoSEY-Market unusually easy q. to
per cent; nearly all business at To 4 Ter
cent. A prominent bank to-day made
a loan for sixty days at per cent, to a
government bond frIn, but this does NOT
reflect feeling in regard to the future:
In the money market loans have heen
made for 60 days on stocks at 7 per cent.
and aeon emission of ~ to u per cent: there
is an increasing fear OF close money mar
ket IN April, when The country is IfiSeIv to
call upon the city for currency to make
her yearly settlements Business naner
nominal. Sterling, heavy lower 81SassS:
carrying rates for gold per cent. ia f1aa:
clearances of S77,05O,0OO. GoverngnentIS:
heavy and lower. but closed steadu -.