The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-07

financial world. Wo minated, few days ago, tnss
Congress provided for the Treasury notes. me questions
OF the tariff and new loan might He over The event
has been IN conformity with this intmaton The rea-
sury notes are provided for by Mr.. HunSr
bin authorizing the reissue o. $40, goo, 70
bear not over six per cent interest per annum
At the present time Is estimated that ABOUT
81 900 Of the old issue. chiefly at Az Az per cens
are ahoat thus the Secretary has at once available Tor
the service o. government sum OF ssoco,oco IN me
shape of Treasury notes. which he VIII prooaoly
without delay, at five per cent interest," INC re-
naming ST. 900 600 of the issue viii be put forth
the old notes mature. BY ibis means the financial move
mcnt Of the government will proceed smoothly and regu
ary thout causing the least disturbance in the money
market The mercantile and financial world will nc. feel
the transition from the old to the notes. there will be
no such disturbance Issue of funded debt would
have caused The Sub Treasury will continue 30 re-
ce!ve fair amount Of specie for duties which would rot
have been the had the Treasury notes been unpo
vided for and the other hand business
wives and money grows dear the existence Of the Treasury
notes will prevent largo accumulatons OF spscie in the
Sub Treasury to the detrment OF The tariff
question lies till next session. that is to say, is
indefinitely postponed for by tho time the Congress
meets the receipts from customs win be large az to
enord no preteSt for demanding increase OF duies
lastly tnc ldea Oh new loan IL iOr Tue present. aoAn
doned The government believe that the public service
be carried on, with economy and good management
III next December without further appeals TO the country
for money The adjournment OF Congress without anho
rizng new loan will exercise very beneficial effect on
the loan OF 1865 The last haf OF that loan taken,
will be remembered than per cent below the first
halt which offered TO the public tic reason being
not that money dearer, but that there was fair
prospect Of further issues Of new government bonds
Now tha. this contingency is out OF the way, il may be
expected that the loan will rise in value. Unted States
Eve per cents, with seventy days interest accrued
certainly worth than 33i premium. AS the
adjournment Of Congress is known in Europe, there will
undoubtedly be good demand Tor the ives all the
European markets.
The only untoward accident Of the week connected with
national finance has been the failure OF Congress to pass
the Post Office Appropriation bills. The whole conse-
quences of this accident have yet to be determined Tney
may prove very Serious and must certainly devolve
heavy responsibility the heads Of those who from
puere puncto factiOus spirit defeated the appropria
ton 50 far at present appears, the that will
be needed for the Post Office service for the balance
the pending fiscal year and the first hall OF the next will
hardly fall short Of Sc The question for the ad
mnstraton to decide is whether is better 10 call an en-
ira session il the OF the provide this
amount, or TO devise financial expedient by which
the postal service Of the country may be carried with
out interruption and without obvious injustice to the
tractors Il is likely that the latter plan viii DO pursued
Certificates may be granted by the department to con-
tractors AMI mail carriers, certifying that such
and such services have been rendered for which
The parties would have been entitled to such
remuneration had Congress passed the appropriation:
such certificates with the endorsement Of the Treasury
Department. would be easy to obtain advances from the
banks Secretary Cobb will naturally spare no pains to
effect such arrangement, no extra session be
called 1t singularly unfortunate that the very time
the department needs their services most tho Postmaster
should be lying almost at the point Of death, while his
ablest assistant has just been laid in his c fin.
The of the stock market for the week has gene
rally been upward Yesterday, however, the bears sue
cceded in causing decline in descriptions 50 that
The following table shnNs an irrarrlnr nnnrnnnnnt