The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-03-28

The business on the Stock Exchange to-day was
moderate, but there was decided upward tendency
in most speculative stocks. Michigan Southern
guaranteed sold at 243, closing "a bid, against the
same bid at the close yesterday. Toledo jumped up
to IS, closing 24s bid, against 22l at the close
yesterday. Rock Island and Galena were wanted
at small advance. Pacific Mail touched par, clos
ing 992 bid against 80 at the close yesterday. No
thing is yet known of the determination Of the
Board with regard to dividend, though it Is gene
rally expected that one will be declared in May.
Central was weaker; it sold down to TAI, closing
74I bid, against rs yesterday Until the tolls ques-
ton is settled way the other this stock must
fluctuate from day to day. The business in bonds
and State stocks was light but prices steady.
This afternoon the market was quite active; it
closed irregular at the following quotations:
ginia 6's, 93l ]; Missouri 6's, SOY 81; Canton,
20t ]; Cumberland Coal preferred, l3l Ia; Pa
cifc Mail. 992 100; New York Central, 74s a Z;
Erie, 81 10; Hudson River, asa I; Harlem, 81
7; do. preferred, 344 Z; Reading, 4la !; Michi-
gan Central, 4la Z; Michigan Southern and North.
ern Indiana, liz a IL; do. guaranteed "a a /; Pa
mama, 1881 Z; Illinois Central, COZ a {; GaIena
and Chicago, 6li {; Cleveland and Toledo, 2ls a
%; Chicago and Rock Island, 65!
The endeavors of the republican majority at
Albany to raise funds to pay the State
by taxing commerce and traffic to the exclusion of
persons and property are highly commended by
the leading republican journal in this city, and the
few republican Senators who have thus far had
courage enough to oppose the narrow-minded
policy of their party threatened with the ven
geance of the rural districts. There are no doubt
plenty of men in the country parts Of this State
who are mean enough to be willing to evade pay
ment of their just debts, or to obtain the
money for that purpose by robbing their
neighbors, II they can do 80 safely; but the
politician who panders to this miserable class
must be indeed shortMghted The vengeance
of such people is thing to be courted not feared
sure road to success, not to injury; for the day
never fails to come when dishonesty and unsound
economy bring their own punishment, and then
the very class which applauded them at first are
the surest to turn upon their authors. When the
State of New York, by departing from its ancient
sound policy, and by pursuing the Jersey plan of
making commerce and traffic bear tie burthen of
its State government and its State debt, shall have
driven commerce and business into other channels,
raised up rivals to this city at Boston, Portland and
Philadelphia, and reduced the growing towns
of the Central valley to deserted villages,
Il will not be Mr.. Sessions and his friends who will
then have to answer for the past the just indigna-
ton Of a ruined people will fall with overwhelming
weight on the heads of Governor Morgan, the Lieu.
tenant Governor, Mr.. Flagler, and their friends,
who are now trying to levy toll like highwaymen
on the traffic which has enriched the State. The
experiment has been tried before Jersey tried it;
thought it was an excellent thing to make traffic
pay the cost of its government, and shirk taxes;
and the consequence is that Jersey is miserable
State, the butt Of the whole Union, without great
cities, trade, or industry, or growing population
or land that white men from other States will take
at one-ffth the average price elsewhere. Missis
sippi tried it, too; the politicians of that State
thought it fine thing to repudhte the Planters
Bank bonds, and so curry favor with their consttu
ents; but in very few years the crime yielded
such fruit in the shape Of disgrace and practical
| mischief that the whole State was aroused and
now there is but one opinion in Mississippi on the
question No principle is clearer in politics than
that the man who commits palpable wrong or
l gross piece Of dishonesty to pander to The base