ment, galvanized a skeleton of “a plan to invade Ireland" (which originated in some valorous brain excited with an after-dinner enthusiasm) into a very respectable ghost, and with this text stirred up quite a tempest of excitement in Enggland. Fortunately, our people, usually so inflammable, took the matter very coolly, and the fire died out for want of fuel. It managed, while it lasted, however, to unsettle public confidence, and to add to the the other depressing influences which lay, like a drag, upon the general prosperity.

Money has continued to command 9 a 10 per cent interest in most of the Northern and Eastern cities, with a very active demand, although the supply has been sufficient to prevent any serious pressure. At the South, and especially in New Orleans, capital has been more abundant, and less uneasiness has been experienced. The weather has been remarkably propitious in both sections of the country. At the South the frost has done so little damage that an unusually large crop of cotton will be picked, and 3,500,000 bales is now a common estimate. At the North navigation has been so little interrupted that the great Erie Canal was officially kept open until the 10th December, and all of the boats which left the lake with any reasonable prospect of getting through, reached tide-water. This brought forward a very large stock of wheat and flour at the last moment, but most of the former had already been purchased on foreign account. A large surplus still remains at the West in various stages of forwardness, but this can be brought through on the railroads.

The stock markets, from the causes above hinted at, have been much depressed. There was little or no excitement until after the middle of December, when, under some rumors that negotiations for peace between the European belligerents were about to be resumed with a better prospect of success, speculators began to buy more freely. About this time there came, also, from Europe, the first considerable foreign orders for American stocks and bonds, which had been received for several months, and this aided in strengthening the market.

Foreign exchange has been firm during the month, with a good demand. The moment that confidence in the stability of prices was restored, produce bills recovered from the decline they had experienced during the temporary panic, and full rates have since been realized.

There has been no drain of gold, the foreign exports of the precious metals having been quite light, but a steady distribution from the seaboard to the West and South has reduced the supply which would otherwise have been realized from the accumulation of receipts from California.

The banking business has gone less smoothly since our last. The New England banks have been greatly extended by loans of their circulation for the purchase of western produce, and this has come in upon them for redemption more rapidly than usual. The Grocers' Bank at Boston, through the culpable mismanagement of some of its officers or managers, found its affairs so much involved that it was obliged to suspend. Several country banks which had been redeeming through it, not having sufficient notice of the change, were thrown out of the Suffolk, and thus created for a few days no little panie in financial circles. This has now mostly disappeared. The Grocers' Bank went down, but the other banks, which were too much extended, sold out part of their securities, and most of them are again in good credit. Meantime, the drain of gold from New York to aid these institutions, and the natural flow southward to purchase exchange, has prevented

that gain in specie at that port which was expected. The following will show the weekly averages since January 1st:

One new bank, the Importers' and Traders', has been added to the list, its paidup capital in last report being $361,220.

The Boston banks have arranged a plan for a clearing-house, after the plan of that in New York, but its organization has been delayed through some fear that it might add to the stringency in money matters. The following is a continuation of the weekly averages of the Boston banks :

WEEKLY AVERAGES AT BOSTON.

Capital

Loans and discounts...
Specie......

Due from other banks.

Due to other banks.

Deposits

Circulation

13,051,800

13,280,000

13,829,600

14,282,000

8,290,000 8,324,000 8,264,000 7,750,000

The monthly returns to the Secretary of State of all the banks in Massachusetts, December 3d, was as follows:

Total.......

$52,357,347 $48,342,799 $100,700,146

The supply of gold from California is still on the increase, but so much is now shipped directly to England, and so much more retained for circulation in California, now that the mint is there to coin it, that there is little increase in the quantity sent to the Atlantic States. The following will show the deposits at the New York Assay Office for the month of November :

DEPOSITS AT THE ASSAY OFFICE, NEW YORK, FOR THE MONTH OF NOVEMBER.

It will be seen, by comparing this with the last month's table, that there has been quite a change in the deposits, the demand for export having fallen off, and nearly all the gold now wanted for coin. Included in the total were $164,000 in California mint bars. There will be included in the next monthly table a large increase of silver deposits, that metal being now sent here instead of to New Orleans.

The imports into the country in November were larger than for the corresponding month of the previous year, that being the date when the receipts ran down below the average, but they have not been extravagant. At the port of New York the total receipts of foreign goods for November were $3,315,346 greater han for the same month last year, $637,739 less than for November, 1853, and

$3,211,121 greater than for November, 1852, as will fully appear from the following comparison:

FOREIGN IMPORTS AT NEW YORK FOR NOVEMBER.

The gain is very large in free goods, especially in coffee, the total for the month of November being $1,000,000 against $200,000 for the same time last year. This still leaves the total foreign imports at this port since January 1st, $29,718,907 less than for the corresponding eleven months of last year, $37,822,641 less than for the same time in 1853, and $22,785,988 more than for the same time in 1852, as will appear from the annexed comparison :-

FOREIGN IMPORTS AT NEW YORK FOR ELEVEN MONTHS FROM JANUARY 1ST.

Total entered at the port... $119,550,731 180,169,360 172,055,626 142,336,719 Withdrawn from warehouse. 14,511,468 14,204,069 21,006,567 22,266,546

For the year there has been a decline in the receipts of free goods, although the total for the last month has so largely increased. The imports of specie have been very light, the shipments from all quarters being directed to Europe, where it has commanded a higher premium.

The cash revenue at New York has increased during the month, but for the year is about five millions behind the total for the same time last year, and nearly nine millions behind the corresponding total for 1853. We have compiled a comparative table showing the receipts for duties at that port since the opening of the year:

Total.......... $28,975,088 83 $40,129,114 89 $36,590,967 86 $31,402,366 02 Of the increased imports for November, about one-half are in dry goods and the remainder in general merchandise. At the port of New York these receipts for the month show an increase of $1,829,230 as compared with November last year, a decrease of $734.475 as compared with November, 1853, and an increase of $2,168,033 as compared with November, 1852. The increase, as compared with last year, has been divided between woolens, silks, cottons, and linens, with

out especial excess in either, showing a general augmentation of the import trade. The aggregate receipts for the month show a gain on every year of the past, except the year 1853, as will appear from the following brief comparison :—

The month of December will probably show a further gain in this respect, as compared with last year, and the total for the next six months is likely to be in excess of the corresponding period of 1854-5. We annex a summary for the four weeks ending with November :

IMPORTS OF FOREIGN DRY GOODS AT NEW YORK IN NOVEMBER.

Total entered for consumption. $2,637,276 $3,575,498 $1,603,281 $3,063,700

$166,863 $412,043 $418,971 $223,256

Add entered for consumption...... 2,639,276 3,575,498 1,603,231 3,063,700 Total thrown on the market... $2,804,139 $3,987,541 $2,022,202 $3,286,956

$616,781 $985,542

3,575,498

1,603,231 3,063,700

$243,933 $1,208,219

Add entered for consumption...... 2,637,276

Total entered at the port....... $2,881,209 $4,788,717 $2,220,012 $4,049,242 This still leaves the total since January 1st, $17,533,370 less than the total for the corresponding eleven months of last year, $26,527,735 less than for the same period of 1853, and $4,673,204 greater than for the same period of 1852, as will appear from the following comparison :—

VOL. XXXIV.-NO. I.

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