tC,mnereiai Co,rsgpondence ftte Rfglsie,.J
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 NFw-YoRK, Sept. II, 1sll

 The second veto of the President has been recei,- ed Its effect in Wall street was not very material as il had been in great measure anticipated. The political portion of the community indulge freely in invective against the chief magistrate for his firm ex ercise of his constitutional prerogatiVe. The mer- cantile portion of the community however, express very general satisfaction at the result. Business men are convinced that their interests will be better served without the intervention of monnpolizing in stuton. The President in his message promises to gi~ his views upon the subject of fiscal agent al the regular session of Congress. Those views are pretty generally understood 10 be system not ma terially at variance with the late subreasury plan with some notifications. That law contained the skeleton of an sexchange Bank, and the $S0OO OOO of treasury notes outstanding by being made payable on demand all the government offices would afford a uniform currency equal to any that could he ted, fla paper currency is be necessary at all. Those notes would then always be in demand for exchange purposes-would enter but little into the channel of business. Such arrangement will no doubt he popular, as the public moneys will then come into operation with the mercantile exchanges and only 10 the actual extent of receipts and disbursements. There will be no fictitious credit to draw against ar tfcialy to effect the exchanges is the where banking credits brought into play. Nor will ex stng channels of business be violently disturbed by it's operation.

 The Stock market yesterday was effected in some degree by war rnmors from Washington, growing out of the M'Leod affair. These however have their origin in party trckery, a order by existing appre tensions to intmdate the President and induce the continuance of the present cabinet in power. Stock fell to very low rates to day. The monster touched per cent. The best of the assets of this concern are assigned. The assignment is partial only under the late law which remited the obligation of securities from the assignees is partial assignment The bills of the concern selling at very low rates to-day, say 30 dis. for cash. The North American Trust and Banking Company in the hands of the court of Chancery. It is not supposed that anything will be left to the stockholders, although some large amounts of liabilities, perhaps sl,5OO, ,0O0 Is id will be set aside under plea of usury. The invest- gaton of the Harlem Rail Road is progressing, but it will not result in any thing satisfactory; no doubt

 

 by the directors at heavy discount, and to this the fall in the stock is attributable Mir. Jaudou, who left here time since to resume the agency of the U. $. Bank in London, wants to meet the 500 ,OOO of debentures that fall due next month and for which stock are pledged Those stocks are heavily depre- ciaed, and it is doubtful whether the war fever exist ing in ondon, the the holders wlbe willing to extend tha (. .l.. they choose rather sell them at present rates, II will greatly affect the value of the socks which are mostly Illinois, Mississippi and Michigan, more es- pecially as a new issue of $5O0,0O0 of the former state is about to be forward for negotiation State stocks continue much depressed.

 Foreign exchanges have of late improved and the demand seems to be good by each packet rather ex- ceeding the supply. The rates are now as follows sterling bills 94; francs f5 20 a 21t Holland | 40 4O4; Hamburg 36 364; Bremen 7S-at these rates some shipments of specie have taken place a. mounting to near $500, 900 during the week, equally divided between London and Havre. The rates for Mexican dollars, which mostly taken for the lat ter port, is II l2 prem. This inclination to ship | specie united with the state of our relations with England, has induced more restricted movement on the part of our banks. They have restricted tle,, oans and are more rigid to the character ant length of the paper they take. Notwithstanding this however, the business doing is good The quantit, ofproduce received from the country IS large and i, sold at good prices. The dealers buy to fair ex tent and for cash, consequently the amount of trans actions is less dependant upon bank movements = The state of inland exchanges now has less iniueuc, | upon our merchants than heretofore. They hay, learned to protect themselves from loss growing ou ofa sudden rise in bills. A very gradual improve ment is taking place in the rates, which may be quo ted to-day as follows.