The New York herald., 1875-10-25

The foregoing figures show that unless there shall be
more active export movement, the quantity hand
In New York at the close of inland navigation will be
even larger than last year. All the facts taken
geher indicate that likely repeat the folly OF
last year, and again hold good proportion OF our
crops for the nourishment OF They also suggest
en- answer to the questions propounded heretofore
PAPER MoSEY-''rSExroRrABLR MoSEY"
We have not liqudated, but have merely carried our
load OF debts by the Of broken promises pay
They teach the lesson that trouble is debt and
stagnaton OF the abundant capital whcrewth might
pay obligations-stagnation not OF paper capital
but Of the real capital OF the country-the productions
Of SOIL which, but for the great plethora or paper
made ''money" by legislative enactment would be
forced into circulation and compelled pay tribute to
our railroads and MARINE thus furnishing employment
TO the aborer, giving new life to every
branch OF trade, and finally, when il has reached
Europe, performing its last duty in liqudatng at
Apricc large proportion of Indebtedness II re-
quires no argument at this late day to demonstrate
that IL year ago gold had been the money of the
country the largo surplus wheat crop OF 1874 could not
have remained idle and OF no more use TO us than IL il
never had been raised II tho question had
been whether to ship money (gold) or wheat Wheat
you'd have gone, and tho farmer would have derived
commensurate benefit Our paper money longer
jery "unexportable character creates sagnation and
onvorts our surplus products into the chips of spcc
alators Speculation which the bane OF every lcgt
mate interest, receives its nourishment from that
which is poison honest labor-a local and "unexnor
abo" money.
THE STOCK MARKET
Outside OF the movements in Lake Shore Pacific
Mail and the continued decline Of Pacific or Missouri
stocks nuctuated during the week scarcely more than
Is usual for brokers' market Various reports have
been put in circulation concerning Lake shore and
Pacific Mail for the rapid advance OF each
but II clear that the movement in each was
based chiefly upon the unsuspected large short interest
reaching 1t is estimated to 7 900 shares In Lake
Shore and so, 900 in Pacific Mail Western Union rose
from TX TO tx Northwest common from 34s. to 37
preferred from IS to 81 81 Paul from 81 to 35S pro-
fCrrcd from Ol,s osh New Jersey Central from 1903
20 l06 aud Michigan Central from 571s 601 New York
Central from 1929 lo5 Union Pacific after sell
Ing down to G6I4 advanced to GsA Ohios, Hannibal
and st. Joseph Erie, C., e. and l. C. aud Atlantic and
Pacific Telegraph advanced from TO 33S per cent from
The lowest point The weak spots Of the market were
Illinois Central and Missouri Pacific the former dccls
ING from W to SS and the latter from 1874 to ~ The
decrease In the earnings OF the last named road from
January to October II, 1875 reported at $6o2 o96
While osccoorcd hue is for the moment being given
% the speculative market and journals which only two
Or three weeks ago were recording the continued symp
IONS OF commercial paralysis have suddenly discovered
new and more encouraging features that invite public
confidence the community at large will do well to study
The arithmetic Of failures and watch the daily record
nome and abroad OF the decline OF old and well
nrms We already count up sl3 600 600 representing
tue "ipng out process since January ls76-onIy
months months Last year for the same period IL was
tlloCOOoOO. True, many OF these disasters are the
result Of previous misortunes but wnen and where Is