The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-06-09
MONEY MARK e ".

thursday, juno 6-6 r. M.
The operations at the Board to-day to fair
tent and prices generally better Ohio SIS Ii Ken
lucky 81 Illinois 6's y, Long Island I; Harlem !; Mo-
hawk per cent; Canton /, Paterson Phenx Bank
l per cent.
At the new Board the sales fair extent and
prices we'll sustained.
The feeling among Boston capitalists in relation 10 the
illinois loan, is very favorable With that long REACH
for which Bosonans famous, they perceive the i'm
advantages which Boston with its rail road will
deriye from the completion of that work. The assu
which the Commissioners received, when they
lately passed through that city their way to London
very encouraging The success the new loan is
seemingly beyond doubt and would be quite but the
shock given to the public mind abroad, by the fact that
Ohio was countcnonccd in New York, in attempt TO
negotiate loan created in violation of State faith had al
ready the date of last advices exered evil nAu
One of the greatest objections the of the
mission Of Colonel Robinson last year, the alleged
fact that public opinion would not sustain the large
houses in taking new loan, however good, from this
side Of the water, until the delinquent debts were paid
Since then persons have learned to distinguish be-
the sound States and the bad but when New
York countenances the Ohio breach of faith by taking
its Stock the distinction broken down, and circum-
stances principle, form the only distinction in mems
minds
financial movements ofthe federal government.
II has been matter Of much speculation to the
which the Secretary Of the Treasury would pursue in
relation TO the redemption of the outstanding Treasury
notes The law Of March 3, lsi3, provides
sro Sd. II the Secretary cannot redeem them out of
the United states for The amount thus redeemed in the
fom for the time and under the restrc-
tons, limitations and provisions, contained in the
act approved April l5 lsl2 or an addition oil 5000OgO
to the stock debt, and allowing interest Treasury
notes past due except that commissions shall be al
lowed paid Tor the negotiation OF the business and ex
cept also that said steck to be issued shall be ro
deemabc at period not longer than ten years from the
issue thereof.
Under this law, it is well known that the Secretary
notified that the outstanding notes would be redeemed on
the 30th June, at the Treasury in cash. This market
then tried ascertain lon what terms per cent
stock Of the above description would be taken. Far was
off, red, but premium demanded. But nothing done.
now appears that the Secretary conceivng the ABOVE
law will warrant it, has made arrangements WIN 'he
banks here, by which they are 10 ISSUE on
basis of government security species Of circulating
medium of nominations Of $50 to $iOo leaving low
rate of interest be receivable Tor government dues and
for all liabilities Of the Banks depose. These, We
understand, in preparation and will soon appear
They bear a strong affinity to the British Exchequer
Bills Those bills bills of credit issued authority
of Parliament, redcemabc in twelve months and bear
interest from per day per fof The interest
computed from the date of the bill up to the day on
which il is either bought sold These bills are tho
by which the government anticipates its revenue
The advances fthe bank the government are made on
these bills and they form tho medium OF the daily tran
sactons between and the bank. They were first is
sued in 1906 and have formed important part oil the
currency ever since. The amount swelis according to
The of the government 10 1918, the sum oustand-
irg reached the enormous amount OF fo7ooo,ooo' or
saas ooo ooo Eor the last fifteen wears the amount
has ranged from 20 to esi 100000, and the int