The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-11

YORK to foreign ports for the week and since
January L.
For the week .... 81 .534,5iS 21I3,46o 2,0S3 S51
Previously reported. 4.46l GA 6o.45s9l5 se69o97s
Since January si5 e95 ,562 81 ,6s0s15 $3.50 s29
Another heavy export---the principal articles be-
ing wheat and flour, of course. Our exports for
the year, up to date, are 100000 in excess of
those of the corresponding period of last year, and
nearly SAB 900 in excess of those of the cores
ponding period of 1859. From the reports of the
foreign harvess and the foreign food markets there
is no,doubt but Europe will continue to take from
us all the food we spare.
Money is reported to be more active, but the
change is hardly perceptible. There is no dilK'
Guilty in borrowing at per cent on call, and good
paper goes readily enough at a T. with occasional
exceptionsEat "a. Treasury notes-six per cents
continue in very active demand for duties.
Foreign exchange is firm but dull, at 1917 lOs
FOR sterling, and 5.321l IS for francs. There is
little doing in mercantile bills, which are scarce
The stock market continues firm, and the bears
are greatly embarrassed by the scarcity of stocks.
The success of the national loan, and the publica-
ton in the HERALD of the documents explaining
how it is to be disposed Of attracted fresh atten-
ton to government stocks this morning The skies
of 1881 Cloth coupon and regstered) rose %
per cent, and the iives of 1874 a; the two
year Treasury notes were likewise 4 better. The
outside demand for government stocks improves
daily. Southern State stocks were Irregular sono
of them were injuriously affected by the rumored
intention of the United States District Attorney to
prevent transfers, such as Tennessees, which de-
ciined u per cent, and North Carol;nas, which
declined 4, while Missouris were q higher. II
there is reason to believe that any stocks of the re-
bel States are being sent here for sale, no obec-
zion will be made to snch action as may
prevent dealings in them. But, If all
intercourse between the North and the South has
been suspended-as appears to be the case-there
rs no more reason for stopping the Northern trade
IN Southern stocks than in Southern cotton or
Southern rice. Pacific Mail continues to advance,
under the general impression that the company is
closing large business. 1t per cent to-day.
The general railway list was steady at this morn
ing's board, with the exception of Gaiena, which
rose 4 per cent and Rock Island, which rose d.
At the second board the market WAS generally
steady. Pacific Mail, however, advanced another
IA per cent, and Tennessees fell off ~, the supply
being in excess of the demand. The market
closed steady, the following being the last quo
taticns:-United States SIS, 1881, registered, s9T
a 80; United States 6's, 1881, coupon, s014 s02+
United States SIS, 1874, so 500; Indiana SIS
76h 771a; Virginia 6's, 54A a IS; Tennessee 6's,
4l% 4la4 Missouri 6's, 1871 a 43ssas; Pacific Mall
s0A 81; New York Central, 1874 1871; Erie,
2594 20; do. preferred, At a 4s; Hudson River,
33H "a; Harlem, 1917 1917; do. preferred, 2555s
%; Reading, SO a 36A Michigan Central 1874 a
A; Michigan Southern and Northern Indiana, AN
+. Don N
Ill; Illinois Central 67sa 6s; Galena and Chica-
go, 69I 691& Cleveland and Toledo, 305S a 30sl;
Chicago and Rock Island, 45 a 4514; Chicago,
Burlington and Quincy, 634 Ga; Milwaukee
and Prairie du Chen, 1917 10; Illinois Central
bonds, rs, 9214; Pennsylvania Coal, &c 7611.
The reduction of the rate Of interest by the Bank
of England to four per cent, coupled with an ad-
vance in British consols, is an indication that the
efforts of the London press and the British aris-
tocracy will fail to prevent the British public sub
scribing to the new United States loan. When
Englishmen have to choose between four per cent
at home and seven and three-tenths per cent i'll
this country, it needs very little experience to de-
eide that they will prefer the latter. Any honest
London broker will inform his clients that the ma
lignant falsehoods Of the London Times regarding
American credit are unworthy Of regard, and that
there is no more probability Of the United States
repudiating their debts than England herself
Further inquiry will show that this country-alone
among the commercial nations of the word---has
steadily pursued the policy of paying off it's debts
and has actually paid them off twice since its ma.
tional career began. With these facts to guide
them, that large class of Engshmen and Europeans
generally who live upon the interest Of their money
will soon discover that they can double their in.
come without endangering the safety of their capital
by investing their in the new Treasury notes
of the United States. An Englishman who has q
fortune Of f10,0 900 cannot obtain over f400 q wear
from it if he invests in British securities; whereas
if he buys United States Treasury notes he
will get f730 year. To the large class of mer
of small property it will just make the difference
between poverty and comfort, debt and aAluence
man who has eco 900 invested in the British
funds receives f700 year, on which, if he has
family, he will need to practice economy to live
as his neghbors do. The same money invested
in United States Treasury notes would yield M
income Of fl AGO year, leaving an ample mar
gin for savings. So on the Continent Of Europe
In France and Germany that very large class o
individuals who live upon the interest of none,
rarely receive over four per cent on their capital
tunate if he receives 1000 francs year regularly
by way of interest. The same money invested il
United States Treasury notes would yield hin
1900 francs and he wonld escape imperial take
besides. The French press, less animated b.
mean jealousy of this country than the pres
of England, has not undertaken to discredit GU
loans, and so far as France is concerned, we need
therefore, say nothing in their defence. We ma
mention, however, that this country has never, il
the darkest hour of its history suffered the small
est stain to sully its financial honor: that ever
Que who, from the beginning Of our national his
tory to the present day, has ever lent money, a
whatsoever rate, to the United States, has receive
back his loan In full with the interest stipulated
and that it is not now, in the height of our powe
and prosperity and wealth and expansion, that W
arc going to begin the practice Of Reputation
With the exception of brief interval, 70
twenty years previous to the present crisis no on
has ever been able to get more than ~ per Ger
a., vT,xo