{"newspaper_name": "The New York herald.", "edition": "01", "page": "p3", "byline": ""}
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Total SIN 9A 6.o93 s57 5sol s23 5,i2ool2


On the 3oth of September the total amount of deposits
in all the government repositories $40 069 e39;
tho 9th OF October 80 3d. and the ls of Decem
ber Sss7 By this it appears that the surplus
venue is gradually decreasing The amount in all the
mnts the ls inst, 5000 0O0 of which S7s4 76l
was in the mint at Philadelphia


It is at present impossible to tell whether the
effect of the foreign news upon stock market WILL
be permanent or not We reason why our mar
ket should be depressed by the European accounts II
is true that the Bank of England has, within a
month advanced the rate OF interest from and half
70 three and half per cent-an increase of one per
cent that money the Continent had advanced, in
some instances, to seven and eight per cent but even
this should in fact have unfavorabe influence upon
our securities upon money markets There is
expansion in currency, imitation in any specula
tive movement sufficient derange the legitimate laws
OF trade; and We are therefore in position to be
benefited by any arrangement abroad than the contra
ry In 1896 and 'S7 we were moro expanded in
rency in public and private credits in prices for every
species of property, &c. ~, than in Europe and the
result was general and complete prostra.on and
ruin. The position is now reversed-we are in
tracted and strong condition. while they very much
expssaed We are strong, and they weak. We
safe and they danger There nothing in his coun.
try to be affected by explosion in the speculative bub
bes which have long been in the Of imitation
in every part of Europe but the )ntrary there
grounds for believing that the very revuson in the rail-
way and other bubbes, predicted confidently, will
prove orable to securities and every interest
Of the United States There has been large Of
capital withdrawn from investment in American State
stocks for the purpose of employing it in the
railway companies offering such powerful inducements,
State stocks to large amount, have, within the past
year. been RENTED to this country for SALE which have
been sold and the proceeds remed The explosion of
the railway bubble must relieve the money market and
throw out of employment immense amount of cspi.
tai which has been locked up deposits Of
the many railway schemes in contemplation. A very
large portion Of these depostes will be returned as
has been announced that Parliament will act upon
any bills that have not already passed the Board
Trade As the explosion has become general and
the excitement somewhat subsided money will wi thout
doubt be much cheaper than is at present. and capi
tai will again seek investment In American securities to
great extent


The Bank Of EnglaLd and the Bank of France
are actively engaged in negotiations in relation
to the state of the money markets and the railway
ulaions. The directors Of the Bank Of France have
been deliberating upon the financial condition of the
country to determine whether would be prudent and
necessary to reduce the amount of depositss and in.
the rate of interest 1t was resolved that no
change be made either in the extent of discounts or in
the of interest. A committee was, however an.
pointed to wait upon the Minister of Finance
to him the condition Of things and the crisis which
the money market plunged. 1t was represented
that the extensive speculatons in railway shares in
France had led to the arrangement the finances Of the
country, and that large amount Of capital had been
Withdrawn from circulation and shut up in the hands
of bankers to the numerous companies. The President
OF Bank of France recommended that measu res be
adopted to restore these circulation before the
in rLafi tko
failures, yet small should be multiplied. II appears
that upon the representation made to the Minister of
Finance by the Committee from the Bank of France a
meeting of the principal bankers and commercial men
was called consult upon the financial aspect of things


stated that the scarcity OF money had rarely ever
before been known to be and gene as il
has lately but yet the number of bankruptcies had
been great apprehended The Governor of the
Bank of England had held several consultations with the
Ministry relation to the contemplated dc ulties in
the financial and commercial world.


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