The New York herald., 1874-11-04
FINANCIAL and COMMERCIAL
A Dies Non in w all
Street.
THE FOREIGN SITUATION.
The Movement in Gold and its
Possible Effect.
TIE CROPS OF THE WORLD.
THE FOREIGN SITUATION.
THE CROPS OF THE WORLD.
WALL STREET, I
TUESDAY, Nov. SO p. n. I

TUESDAY, Nov. 3-6Ph.j
This being O legal holiday Wall street was de-
serted by It's usual throng OF SPECTATORS. There
IS. therefore, no record OF business 10 be made,
sxcept that which is reported by cable from the
foreign markets. In this connection 1t may be re-
marked that the state OF the money market has
again become q principal subject OF attention
among European merchants and capitalists. The
rise IN the Bank OF England rate 10 4 per cent was
followed by an advance OF the Bank OF Belgium
rom 3A TO IA per cent, and by the Bank OF St.
Petersburg from 51s 10 6. similar movement BY
the bank OF Prussia is regarded as one OF the con-
hngencies OF
THE MONEY SITUATION.
While these events may seem to have no positive
and immediate influence upon the financial centres
af America 1t Is apparent that they Indicate q
tendency TO stringency, which must sooner or
later felt here. Tor capital extends Its sympathy
everywhere. The same readjustment OF prices Is
taxing place in Europe that is observable in
America, while the annual productio OF gold, in
lu5cent 1t Is alleged TO be for the work 1t has
20 do In the markets OF the world, has caused .
neck to speculation. ana thus made an active
agent in producing decline IN commodities. 1t
stated by an English authority thar affairs are
lueter tnan they were year ago, because bills
are scarcer The small supply oil gold coming for
ward, however, which, II retained, would have
been useful in preventing all
RISKS OF EXTREME RATES
and sudden changes, was suffered to be taken for
export to the Continent and elsewhere. Hence
the bank reserve Is once more at point at which
Ihe reduction OF only million or so might send
the rate up TO 8 or per cent. Such an event has
often produced Its corresponding effect IN advanc.
ing the price oil gold here, and IL IS possible that
vome oil our far-seeing bankers, responsive to the
tenor OF their foreign advices, are expecting such
result again. There is certainly cause for the
sudden stifenlng OF gold to llo's per cent when
there Is no important speculation IN 1t and no par
ticular home demand resulting from business In
exports and imports. Strlngency abroad operat
Ing thus through the gold and money markets
would tend to affect general business on this side
~ giving Idle capital freer and more profitable
play II the process OF earning.
THE CROPS OF THE WORLD.
The prospect OF an abundant return OF crops Is
now assured in all the principal agricultural and
trading countries OF the world. Everywhere
abroad the harvests are considerably above the
average. The corn harvest has also been good,
and the accounts from italy, France and Germany
agree that the vintage will be the largest in
quantity and the best in quality that has been
known for many years. In India
THE FEAR OF FAMINE
has been removed. In England the fall In wheat
has been something like q per cent, while in some
Of the countries of southern Europe bread is one
third cheaper than it was last year, meat oDe
fourth, and maize which Is the chiei food OF the
people, has iallen, are informed, at least one
hall in price. Egypt, year by year, is becoming q
more important contributor to The supplies and
q regulator OF the prices OF grain. Thus Nature
has this year furnished to her children plenty
New wealth has been thrown out upon the worlc
from her great storehouse. and wherever the eye
turns, from our own noble West to the distan,
Orient IL rests upon Gods acres everywhere TEEN.
ing with milk and noney''-rne fat OF the land.
OPENING HIGHEST AND CLOSING PRICES MONDAY.
For the convenience OF readers we republish