Year: 1865

We suggest to the Secretary Of the Treasury the pro-
prety Of publishing monthly statement OF the national
debt and tho condition Of the national banks About
week ago tho total currency Of the latter
ported to be $l04 54O the increase during the pre-
vous week having ben 80 200 900; but it would be
advantage TO the public credit and strengthen sub
scriptons to the seven.thrty loan, well as exert
q favorable influence upon tho market price of
all national securities II the people kept regularly
informed Of the condition OF the finances The omission
1, such is likely to be attributed to
puslanimous motive and desire TO avoid criticism;
but any its effect Is bad both at home and abroad
and il Is much likely TO lead to exaggerated ideas
OF indebtedness and expenditure than otherwise.
The unpaid requstons supposed to be about three
hundred millions but II is probable that they in
reality great deal less Where thero is doubt there is


likely be dstrust and therefore, tho more the Secre
ay OF the Treasury takes the people into his confidence
the better.


The extreme depression the dry goods trade has
duccd the market TO state bordering panic and al
though only three prominent houses have yet sus.
pended other failures Of magnitude rumorcd while
but for the extensions OF time which have been granted
by accommodating creditors there is doubt that
much havoc would have been already apparent
the surface. The decline In raw cotton during
the last fortnight has been equal to thirty Eve
cents per pound, and that which Is
difficult Of sale at forty cents per pound, not many
months ago sold for 81 e5 Meanwhile nearly thirty
nine Thousand bales Of Savannah cotton hanging
the market In this condition of the markctsfor
the material corresponding depression in manuac
Is 10 be resisted, and hence those who have
stocks bought credit very heavy losers, while
those who bought for cash and sold credit before
the rcccnt fall proportionaie gamers provided
they receive payment Tho importers have suffered
much less severely than the dealers In domestic fabrics
in consequence Of the turn Of exchange in their favor
The future Of the latter looks than the present,
and therefore, Jobbers are actively underselng the
commission houses; but wher sales OF small parcels
forced considerable sacrifice below rates.
and II any attempt made to force large lots there
would be in all probability a fresh break, which
would lead to panic and bankruptcies The
present OF the year Is usually active and
couragng one the trade for with tho opening OF
cation impetus used to be given 70 business but the
times have changed and with IL the fortunes Of those
whose lot Is cast among dry goods.


The general markets have sympathzed with the sud-
den decline OF gold but they have felt 1t in the
stagnation II has produced than In the positive fall
Of prices those ruling at present not being supported
by any strong demand Holders would be unable to sell
any considerable portions Of their stocks at these rates
there general disposition, both in the wholesale
and retail trade, as well as among the community gene
rally 70 purchase than Is Indispensable Forced
salos therefore, could only be made at a sacrifice.


II Is reported that all the cotton captured Savannah
has bcen shipped The quantity 3s o76 bales 80 0ss Of
which upland and 59ss Sea Island Most Of IL has al
ready arrived AID is stored the government warehouses
Staten Island The time for its sale here has not yet
been decided upon hut Is satisfactory learn that
the government has intention Of committing such
blunder its expectation 70 England would involve.
Apart from the efforts which the holders Of the rebel
loan would have probably made to have II attached II
would have been very poor financial operation while
our own manufacturers would have afterwards been
compelled 70 pay higher prices In foreign market for
the same cotton


The marked depression which now prevails In British
financial and commercial affairs Is in strong contrast
with the buoyant prosperity and imitation Of values which
prevailed between the autumn Of 1851 and that Of 1904
and seems somewhat anomalous In the face Of easy
money market and with the Bank Of England OF dis
count down TO a. per cent But each succeeding
steam'r has Of late informed Us Of q further
decline In the prices Of products and securities
OF all kinds, consols excepted This s clearly, 10
great extent the result OF tho anticipated speedy
sumption Of trade with this country the influx Of South
produce and the consequent diversion OF capital 10
our favor. involving the collapse Of many OF the new