The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-05-13
MONEY MARKET.

Thursday, May 12--6 PM.
The stock marke, has materially altered to-day. In
diana SIS fell Il do sterling Delaware and Hudson was
heavy par; Mohawk improved !; Harlem /; sales of
United States Treasury notes, tna.
We understand that about $500 Of the State Seven
per Cent loan lodged with the Manhattan Bank has been
taken par We believe about 100000 Of this oan
taken at Albany There remains therefore, about $780,
900 to be taken up which will probably be done in few
days applications constantly received at the Bank
The per State Stocks rcdecmabc in 1862 have sold
recently co. a, this price they yield yearly interest Of
Cos per cent and payable at at the pleasure of the
State after 1862 fthey positively payable at the
expiration OF the 20 years the 10 per bonus to be
would be equal interest ofo per cent which
would make the income derivabc from the stock per
cent which is o5 per cent worse than the per cent at
par redeemable pleasure of the State after six years
There certainty however that the stock will be re-
deemed that time the payment OF the nominal capital
therefore scarcely worth taking into the account The
per cent State stock 1915 the Comptroller states it
his intention pay promptly and yet those stocks sell
low co. The security ofese stocks undoubtedly
superior those of the federal in the presen
Of affairs and the suggshncss ofthcir movement
ncat that there Is but little chance for the per
cent Of the government.
On the Sd inst the banks OF New Orleans made their
first specie settlement with each other.
sale of 81 900 United States per cent stocks payable
in 1874 made at Boston yesterday at 90 per cent
We have received the report Of Walter Forward. Esd
Secretary Of the Treasury in answer the resolution oil
the House OF Representative requiring him to communi
cate information plans and views 10 the COMMITTEES OF
ways and means in relation to raising from i'm
ports for the use Of the We have annexed
the proposals Of the Secretary in tabular form. As
basis the imports 1910 taken The whole imports Of
that year amounted to Sl07 l4l,5l9 OF this amount
500 ST. ss5 pay duties leaving 5A free of
duty This amount, will be from the table the
Secretary estimates will yield S27 a4s 1886 of
after dsductng and expenses of collection The
gross of duties ss2 GOT ass gives duty
imports Of aA75 per cent which 10 50 per cent higher
than the compromise after June In many cases
the duties proposed higher than those proposed by the
report Of Mr. Saltonsall and In other lower The
report before adheres much closer tho proper OBJ
ect which exclusively OF revenue than does the
disgraceful one Of Mr. saonsta The notion Of protec
ton is however still INDUCED in to some extent The
childish argument that the exclusive supply Of certain
manufactures is essential to real independence,
worthy Of member of the Cabinet What is indie
pendent of his neghbors What city of the surrounding
country What of those adjacent to in What ma
ton ofhe remaining portion Of the human species Inc
argument advanced at the very moment when the Sc
cretary estimating the probable revenue to DO derived
from the imports from foreign countries, which revenue
necessary to carry the government The report ana
propositions arc however the best that have yet been
presented. the Secretary fails TO show, even IL the
imports should continue undminshed from the oasis he
has assumed that the will be sufficient Inc
following are his estimated receipts and expenditures for