The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-06-07
FINANCIAL AND COMMERCIAL.


There is very little movement in money or
paper to-day, and rates remain as last quoted.
The steamer Australasian delivered $780,
600 in gold this mornng--making, with the ar.
rivals by the Borussia and City of Washington.
about 81 CSC, 900 received from Europe since tho
beginning Of the week.. These heavy specio re-
ceipts have had little or no effect however, on
the foreign exchange market which continues ex-
ceedngly fat. We hear of few transactions a.
yet for the steamer Of Saturday and the rates are
nominaly the same as for the Persias mail
There was general disposition to realize on
the Stock Exchange to day, and all the railroad
shares fell off from the lowest prices touched yes.
terday. New York Central declined "a; Erie, "A;
Hudson River, 1; Harlem preferred, 1; Reading,
/; Michigan Central, %; Southern DID, u; do.
guaranteed, %; Illinois Central, IA; Galena, "a;
Toledo, n; Rock Island, q, and Burlington and
Quincy,l. Pacific Mail was also pressed for sale,
and touched COZ at the second board. State
stocks were less active than Of late. and, with
the exception of Missours, which fell to 3Sss, do
not show any material variation from yesterdays
prices. Government stocks were also steady.
The market closed weak at about the following
prices:-Unted States 6's, registered, 1881, 84a
S4%s; do. 6's, coupon, 1881, 81 q 8414; do. Sc,
1874. 77H III; Indiana SIS, SO; Virgil
MA 6s, 45H 45I; Tennessee 6's, 40 a 4oM;
North Carolina 6s, SO a 81; Missouri 6s, 39% q
39zs Pacific Mail, COZ COZ; New York Central.
7lss M; Erie, 2isS a 2l1ss;; Hudson River, %
Q 3z14; Harlem, l074 1917; do. preferred, "a a
24sSz; Reading, 3014 30H; Michigan Central, 4OA
a Al; Michigan Southern and Northern Indiana,
I0H IL; d. guaranteed, 2a5s a 1874; Panama,
100 LOG; Illinois Central, 631s g.; Gaena aud
Chicago, 56A 81; Cleveland and Toledo, 81 a
2l1s; Chicago and Rock Island, 32A SO; Chicago,
Burlington and Quincy, SO a 81; delaware, Iacka-
wana and Western, IA a II; Milwaukee and Prairie
du Chen IL H. Illinois Central bonds, rs GOA
90'4; Delaware and Hudson Canal, 80 8O%;
Pennsylvania Coal, rs q 70.
We notice by our British files per Australasian
that Mr.. Lindsay, member of the British Paria'
ment, has been making speech on the CONNER
cial bearings of our civil war, and urging the re-
cognition of the Southern confederacy. This was
to be expected. Mr.. Lindsay is the modest Eng.
lishman who came here last year for the purpose
Of having navigation laws altered to suit the
interests of British shipowners. He was civiily
| heard by the Chamber of Commerce, Hospitality
received in our commercial cities, and politely in
| formed that when people wanted help from
! England to make laws they would ask for it. Mr..
| Lindsay, who had hoped to emulate Mr.. Cob
| denis success in France, went home in high
| dudgeon, and now takes the side of the South
| warmly. He would have been of more use to
his friends, the rebels, if he had taken
more pains to inform himself correctly
| on the elementary facts and principles of our
trade. When he says that the United States "com-
menced the system of high tariffs in 1885," that
it was SIr. Clay's compromise tariff of 1888 which
| 'led South Carolina to threaten to secede;"
| that the tariff of 1912 was Increased in 1S46;"
when he.o mts all allusion to the tariff of 1857; when
he tells us that the "s9uth exports 5000 100000
of cotton and the North "less than 500 900 0D0'-
OF all products including gold; when he says that
| the South 'have no voice in the distribution Of
these taxes though everybody knows that SO
| long as the Southern Senators remained at their
posts no tariff could pass without their votes he
certainly exhibits an ignorance so comprehensive
| and SO magnificent that he can hardly prove
| formidable antagonist to Mr.. Adams. Correct in
formation regarding our political institutions is
perhaps not to be expected of foreigners, and we
! may excuse Mr.. Lindssy's amusing assertion
''that the people Of the seeding States
| had sworn no allegiance. to the federal
government" and bis profound discovery that
when republics increased beyond certain limit
they must transform themselves into monarchies
But gentleman who had travelled extensively
through this country, and enjoyed the aoquaint.
ance of well informed men here ought not to have
Numbered so very grossly about the leading stats-
tics Of our commerce. There are many men in
England, we fear, who, like Mr. Lindsay consider
that the acknowledgment of the Southern con-
federation would prove Of great benefit to the peo-
pie of England" They will discover their error
by and BY So far as the mere sordid question Of
commerce is concerned it is England's in
tercst to obtain gold, food, cotton and tobacco
from us, and to send us manufactured goods in
return. She can do neither the one nor the other
by pursuing the policy advocated by Mr.. Lindsay
and his friends. The government of the United
States will maintain an effective blockade of the
Southern ports against foreign enemies as we'll as
against domestic rebels. And if the government
OF Great Britain, by giving aid comfort to our
insurgents, or by coquetting with them, as she
seems now bent on doing, complexities the diff
culties of our position, the result will be a
treaty between the United States and France.
by which an immense European trade will be
transferred to the growing commercial empire
of Napoleon, and in less than three years
the American commerce of London Liverpool.
Cork Glasgow, Manchester and Birmingham will
be bodily transferred to Havre, Paris, Bordeaux.
Rouen, Lyons and St. Etienne.
To-days transactions of the sab.Tre asury were
as follows
hecelpts 1926 Ola %
For customs. NEUTRALITY-SUSPICIOUS.. q 900 o.
fAymenB. 66& 661 80
oaauce 10 672 ,689 80
The Milwaukee and Prairie du Chen Railroad
earnings for the fourth week of May, 1861,
were. A,018 IS
month OF
Increase. 1854 .8I8 "a
The Ohio and Misacs;nni rood for tbo vear and