The Sun.
London, England, 1867-09-21 00:00:00

COMMERCIAL.

NEW YORK, Saturday, Sept. 7.
The most noticeable feature of the week has been the
rise in the price of gold, which yesterday closed at 1421
after selling at 1421. The clearings at the Gold Exchange
Bank were $65,896,000, and the balance $762,565. Mr.
Ml ‘Culloch has, through means of the Associated Press,
given circulation to the correction of a clerical error in
the Debt bearing currency of the statement of the let
instant.

TILE PUBLIC DEBT.
CORRECTION OF THE PUBLISHED STATEMENT.

Washington, Sept 6.—The Secretary of the Treasury
has addressed the following letter to the Washington Agent
of the Associated Press:—

" Treasury Department, Sept. 6, 1867.
"Sir,—ln the statement of the Public Debt on the Ist
there was a clerical error in the amount of debt bearing
currency' interest in the three year compound interest
notes by not deducting the amount that had matured-
-912,672,730—fr0m the total amount then outstanding, viz.,
$91,512,330, which should have been $78,839,600. The
total amount outstanding on the Ist of August matured,
and not matured, was $114,857,850. Of this amount there
was redeemed during Au{,ust $24,315,520, leaving the total
outstanding Sept. 1, 1867, $91,512,330.
"This correction leaves the debt outstanding, less
cash in the Treasury, $2,492,783,365.05, instead of
$2,505,456,.095.05.7Very respectfully,

"11. M'CuLLocir, Secretary of the Treasury."
Money continuos abundant at 4 to 5 per cent. on call on
Governments, the first class commercial bills being dis-
counted at from 6to 7. At Chicago financial affairs re-
main much the same, as there is a plentiful supply for
sound transactions at 10 per cant. The excellence of the
crops gives great satisfaction throughout the country and
some strength to business transactions. The advices from
Alabama represent the harvest as unprecedented, the
portion falling to the freedmen alone being greater than
the number of bushels of the entire corn crop of Alabama
in any previous year. A correspondent of the Tri-
bune states that the fodder is so immense, and
the weather so favourable, that it will bo very many
years before another bale of Ohio grass is used by a
farmer in Alabama. Hay had fallen from 60 to 70 dollars
a ton, the prices of last spring, to about a third of that
sum. The cotton crops of Georgia promise well, but from
Louisiana the accounts are bad. The Charleston Courier
thinks the crop will reach 2,500,000 bales, if circumstances
continue favourable, but it might be reduced to 2,000,000
bales by an early frost. From all I can gather, this
amount is considered a fair estimate of tho coming crop
which is now being gathered. Alabama, it is thought,
will give 700,000 bales. The statement of the Public
Debt to the Ist September is as follows :

Debt bearing interest in coin 51,715,687,741 80c
Debt bearing interest in paper
Debt on which interest has ceased 19,440,375 87
Debt without interest

Total debt, September 1 52,653,792,189 64c.

The Treasury vaults contained at that date $101,263,020
in gold, and $47,073,074 59c. in currency, giving a total of
$148,336,094 59e. This balance when subtracted leaves
the debt at $2,505,456,095 05c. The letter we have given
above corrects a clerical mistake reducing the total to
$2,492,783,365 05c., which, 1 need scarcely say, is a satis-
factory result.

The transactions yesterday at the Sub-Treasury were :
—From Customs, $506,000 ; gold notes, $61,000 ; total
receipts, $2,214,419 56 ; total payments, $778,251 50 ;
balance, $112,638,339 54.

The receipts of the Western Union Railroad Company
for the week ending August 31 were :-
1867. 1866. I n croase.
$33,095 52 $26,831 20 $7,264 32
From January 1 to August 31 :-
1867. 1866. Decrease.
$391,044 52 $499,54515 $105,500 63
Foreign Exchange is firm. Bills at 60 days on London are
quoted at 109 to 1091 for commercial; 1091 to 110 for
bankers'; do. at short sight, 1091 -5t:814 10tol ;5.1315ar;is
Ham-
burg, days, 518 i to 5.15 ; ditto at short sight, 515 to 5.131.;
Antwerp,burg, 5 t50438161t;
o s.lsAmsterdam,Swiss,
401 to 41; Frankfort,
401 to 41; Bremen, 781 to 781; Prussian thalers, 711 to 72.
Government Bonds continue in demand, and have improved
fractionally on the advance of gold. As yet the Democra-
tic agitation for redeeming the 5-20 gold bearing issues in
currency at the expiration of the five years has only so
far affected them as to prevent a higher rise in sympathy
with gold. Tho market for railway shares is heavy on
continued inaction. To-day the books aro closed for Erie,
which led yesterday to somo cash transactions in the Stock
to influence the elections. Now York Central closed at
1061 to 1061, with much firmness, as well as North Wes-
tern Preferred and Rock Island.

Erie 691 691, reading 1021 103, Michigan Southern 821
North-Western Preferred
8103,41C,leNveolrathnd-WanesdtePrnitt:l6)kurgli, 871 881, ROCK Island 1041
701 701, Fort Wayne 1051 106.

(From Messrs. Belding, Keith, and Co.'s Circular.)
80, Lombard-street, E.C., Friday Evening.
Since our last report of this day week the market for
American Securities has been tolerably active. Some con-
siderable shipments of United States 5-20 Bonds have
been received and offered in the market, and this, coupled
with the maintenance of tha high premium of gold in New
York, has depressed quotations, although prices would
have fallen considerably lower had it not been for the ne-
gative demand both on home and continental account.
The last telegraphic despatch from New York announces
the agitation of the question of paying off 5-20's
in currency, but this has had no effect there beyond
causing a decline of I per cent. in both issues. Yet
there are many dubious holders on this side, and
wo think that it would be a wise policy on the
part of Congress were they to make a supplemen-
tary act, stating that this debt, as a rule, is a
specie obligation, and will be paid as such. We are fully
convinced it would enhance the market value of the Bonds,
augment the number and amount of investments, and more
fully establish the credit of the United States Govern-
ment. The 1862 and 1865 Bonds close this evening at
72f 73, and 704 to f respectively, which is an improve-
ment of I per cent. on last week's figures. There is still
a difference of over 2 per cent. between the two issues,
notwithstanding that the 1865's meet with a very good in-
quiry. Nothing has been done in Eries, and they close
very flat at 43} to 44f. Illinois, for which there is a tole-
rable demand, touched 78 on Tuesday, but they have since
receded I per cent., leaving off to-night at 77 to 77f. Rail-
way Bonds are quiet; Atlantic and Great Western Deben-
tures are stead
Mortgage Bonds at 22f to 22i.
y, at 25f to 261 ; and the Consolidated

(From Messrs. Bowles, Drevet, and Co.'s Circular.)
Paris, Sept. 20, 1867.
Via Queenstown, the advance in gold in Now York,
together with tho general weakness of the Bourse, hare
occasioned some decline in Americans, which we quote,
closing September 19 :-1862, 823 ; 1865, 80i 80}, the
latter,
quite 21 per cent.
as will be seen, again ruling at a disadvantage of

Our advices from Now York are to the 18th inst.:—
Gold, 1441; United States Bonds (1862), 1141 currency.
The Bente closes at 6B 95
The Italian closes at
Exchange on London 25 21
Annexed will be found the official statement of the
Public Debt of the United States on the Ist of September,
1867, which we have just received from the Secretary of the
Treasury.

(From E. F Sattertlacaite and Co.'s Weekly Circular, Seid. 18.)
Our advices from New York, by the Scotia, are to the
4th instant ; they report a slight improvement on previous
quotations for the public funds, but there was but alimited
demand. Railroad Stocks were steady, with a moderate
amount of buying.
Cleveland and Toledo and Michigan
Southern both show an advance, the former on a rumour
of a contemplated amalgamation with Lake Shore lino.
State Stocks and Railway Mortgages remained without
any noteworthy charge.
After our last of this day week the London market for
United States Government Bonds was slightly depressed
on fresh importation; but from the very large demand on
Continental account, as well as a moderato steady borne
absorption, the quotations gradually improved until yes-
terday, when advices by telograph from New York an-
nounced that the question of paying off the 5-20 Bonds in
currency iYas again hug agitgod, and although this has