The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-02-13
Of single name paper, or paper that is offered at

Of single name paper, or paper that is offered at
high rate Of interest
The movements OF the government win probably
exercise no small iIfuence on the money market
this year. Notwithstanding the heavy receipts for
duties it is likely that very shortly after the passage
OF the Posi- Office Appropriation bill, Mr.. Cobb
will hove to re-enter the market "a q borrower
once more 1t is supposed that he has on hand not
piore tran 100000 to 81, 900 900 of Treasury
notes; too small an amount to carry him through
the Summer. Nwould not be surprising therefore,
if Mr. Sherman, on whom now devolves the duty
Of providing ways and means for the government,
should bring forward scheme authorizing new
loan OF ten to fifteen millions of dollars.
Foreign exchange has been dull throughout the
week, and closes lower on both sterling and
francs than at the close CT the week previous
authorized quotations for bankers bills being 1854
for sterling, and 51s3 $40 for francs. I'M
porters are unusually backward in renting to the
other side-a circumstance which is ascribed in
some quarters to the dulness of trade, in others,
and apparently on better grounds, to the moderate
Indebtedness Of the United States to Europe,
There probably never was o time when our people
owed less to Europe than they do at present, not
withstanding the heavy importations OF last year.
We published, the other day, report of meet
ing of the Chamber Of Commerce, at which that
body adopted the report of committee recon-
merding the President to mediate between the
Chinese and the maritime Powers of Europe and
held over report concurring with the Chamber
OF Commerce of Bremen as to the wrongfulness of
privateering in time of war. There seems to be a
fatality about the proceedings of the Chamber of
Commerce.. in
sensible men, whose opinions as individuals and on
general commercial matters are well worthy of at
tenton. But as body, we are bound to say that we
know of none in the country which 80 frequently
comes before the public in foolish and ridiculous
Light as the Chamber of Commerce. Happily for
that body, the sensible remarks of one of the
members OF the special committee prevented the
adoption Of report on privateering which
would have shown the world that New York
merchants are ignorant of the fundamental
principles of American policy, and are willing to
see the empire Of the seas, in the time of war ex
clusively in the hands Of European Powers. But
there was no member, it seems, who had nerve or
sense enough to point out to the Chamber the alb
surdity of the proposed mediation between the
maritime Powers Of Europe and China In the first
place, the United States have not credit enough
with the Chinese to get their own treaty carried
out or their own Ambassador received at Pekin:
and, in the second, to propose mediation would
at once convince the Chinese that the maritime
Powers of Europe were afraid Of them; and Eng
land and France, well knowing this, would never
hear of such step. We not sure that the cause
of commerce, which the Chamber" is supposed to
have in especial charge, will be heavy sufferer by
new Chinese war. There are races who cannot
be civilized and brought into the family of nations
without free use of the bombsheu and the bayo.
net. Many good authorities class the Chinese in
this category.
The following has been the course of the stock |