The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-06-29
MONEY MARKET.
Wednesday. Jun


The new Government per loan 10 years run,
has been taken mostly by John Ward Co. at l0l ll00
per lot of SoO 900 taken at 1902 showing the
prevailing belief of continued abundance OF money
There was little competition, appears for this
stock, notwith standing which it produced premium,
although has but ten years to 1t is months
since the United States 6per CT loan taken at about
par. That stock is l6A prem cash. and there
time sales at III. The taking of that stock gave i'm
pstus to the market which has since been sustained gem
orally At the Board Illinois t; New York 6s Of
1862, /; Ohio, u Long Island Il Harlem fell /; Indiana
per cent.
At the New Board Kentucky rose 4; Illinos4
The Ohio and Kentucky interest money for July is
hand The Righteousness Of has enabled the Tor
mer State to get through The bad management Of tho
State last year sunk its stock 50 the dollar
aud the stock is the lowest dividend pay ing stock
on the list 1t is per cent stock and at 90 the day
that United States per stock taken per cent
premium The evil with the State that never passes
direct tax laws to pay its interest but gives the auditor
the option, he cannot borrow enough. This great
irregularity.
The Great Western is anxiously looked for. She may
be here to morrow.
The whslc state Of financial affairs in the Union pre-
sents an appearance oil great stability and uniformity
Every description ofproperty is improving in value
less 1t may be bank stock which, owing to the present
andprospecve dullness of commerce, dependent upon
bank credits are declining The great of nation
al prosperity viz agricultural products slowly srug
Cling against the oppression OF the tariff and rising
in value On improved prices in the interior epends all
the real trade of the country Those prices rise In pro-
portion to the extent with which the surplus can be dis
posed Of abroad and those foreign sales depend upon the
imports The operation of the tariff is to destroy the
ney value of the whole production. The effect strict
y revenue duties h to procure fair alton for
the surplus and thereby to raise the value of the whole
agricultural produce. The principle which induced the
old Dutch East India company to BY fire their
surplus import of Spices in order to sustain the value
the rest applies to the products Of this country. Those
products agricultural and the proportion Of the pop
uation empoye in that pursuit. is 700 900 out Of 5o0O
900 OF active persons. Now, surplus is annually pre-
duced beyond the capacity Of the
The proteconsts say that surplus must not be export
Cd. On the old Dutch system il would be wise TO con-
sumo the overplus by fire, for instance the wheat
crop Of 1895 according to the census bush
els; in 1910 thsre exported, mostly to England
equivalent to 900 bushels of wheat nearly IL per
cent Of the CROP The average export price Of that year
81 ST. and in the succeeding year. although the pro-
ducton known TO be larger the price ruled 81 so per
bbfour higher the Union and the export
less 81 per Dbl equal 10 improved money value
OF $50 900 the production yet the currency OF 1871
contracted than that OF 1870 The value Of tho
exports OF 1910 about sO,oOOO0o Hence, If that
qusntity had been destroyed the farmers would have
been gamers by $4,000 600 in the improved money value
the remainder Instead however of wantonly destroy
ing the surpuho ask only TO get much foreign pro-
ductons for as they From Eng they obtained
much manufactures in would cost them here
$i2ooooco This the 100000 persons engaged in domes
tic manufactures, operating through Congress. forbid.
The tariff prevents any goods from being received in
turn, and consequently the whole agricultural produc
ton sunk in money value low that the whole trade
ofthe country is p,ralyzed.
AT the extraordinary low proesto which produce has
fallen since 1871, uct be found for specie re.
turns and this producing in rates With
this improvement the elastic energies Of the people reco-
their wonted vigor and buoyancy The values of
State stock return with tho improved ability OF the peo
pie to pay taxes The superior quantities OF produce
which pass the great avenues otrade TO market in
the value Of corporate companies which for the
most part are the hands OF wealthy men, at rates
which will Weld exorbitant incomes the investment IL
the works declare but small dividend onhe original
naI For instance the Harlem Railroad is held by
al cost of s2 per share, who conducting the road in
manner which, with the rapid Advancement Of all de-
scrptions OF business II is said will give dividend Of
per cent the capital within the year. This small div
dend will give per cent the investment This is
instance OF the rapid in which property, bsscd
upon actual business, at present prices, will accum
with the growth Of trade
The restrictive policy si the United States in req -
its foreign trade has been exceedingly injurious to ~
interests II Is guar fact tina, since 1890, alif 1h
the population Of the Union has doubled, the ex r'
with heexception Of cotton, have not increased at