The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-29
FINANCIAL. AND CONNER CIAL
THURSDAY, Ma rch 2S-6 p. NJ.

THURSDAY, Ma rch 2S-6 L. NJ.
The money market is without change. Paper
ranges from 10 per cent, and is growing scarcer
daily The prospect is that three months after the
Morrill, tariff has gone into effect the bank dis
counts will have been reduced by the liquidation
h business below Sl00, 10000
In foreign bills very little is doing. Bankers
ask los and 5.221la, but merchants are not active
buyers.
The stock market opened this morning, as it
closed yesterday, firm, but fell off the business
of the day progressed. The business in federal
and State stocks was light the new government
skies fell off a, while Missouris declined x.
Among railway bonds, Illinois Centrals and Michi-
gan Southern frsts both improved fraction.
At the first board New FORK Central was steady
Erie advanced 2s; Hudson River, a; Reading, a;
Michigan Central, 4; Illinois Central, a Cleve-
land and Toledo, "a Galena, 4. In other de-
scripions there no change. The contradic-
tory news from Washington, with regard to the
purpose of the government in relation to the
Southern forts, indisposes the public from ope-
rating in stocks, and until something decided
IL known il must be expected that many
people will hold aloof from the stock market
AEer the board the market was dull, and remain
ed so till the close the following being the last
quotauons-United States SIS, 1874, 50 90; Indi-
ana SO, 50 co. Virginia 6's, 771s ~; Tennessee
SIS, 1874 &c; Missouri e's, 6s1s q; Canton, Az
Is; Cumberland Coal preferred, IA a 8; Pacific
Mail, IS a 70; New York Central, 1871 "a; Erie,
81 a; Hudson River, 45ss y; Harlem, l61s a
u; do. preferred, 4o7s q a.; Reading, "A a AZ;
Michigan Central, 57% u; Michigan Southern
and Northern Indiana, ~ q "a; do. guaranteed,
#. f,,,At,
sl4 a sl1&; Galena and Chicago, 731s 7SA;
Cleveland and Toledo, 35s4 Il; Chicago and
Rock Island, 577s So; Chicago, Burlington and
Quincy, 731a u; Illinois Central bonds, Is, 100 a
"a; Delaware and Hudson Canal, SO a "a; Penn.
sylvsnia Coal, s0a%.
The government of the United States has sdver-
tised for loan of $4,000, 900 out of balance Of
f27 900 authorized by the last Congress; while
the government Of the Confederate States has
called for 81 900 out Of loan Of SIS 900 900
authorized by the Southern Congress at Mont
gomery. The $1,000 600 to be borrowed by the
United States must be paid on or before the 18th
Of April next; the 81, 000,o00 wanted by the Con-
ederate States must be paid between the 18th Of
April and the lst of May. The Secretary Of the
Treasury of the United States has appealed 70 the
public in the usual form, and expects 70 have his
loan taken a. usual, at New York. The Secretary
Of the Treasury Of the Confederate states has ap-
pealed to individuals, and offers bonds OF $50 each.
IL Is not likely that Mr.. Memmnger will gain much
by this deviation from established custom. Neither
in the Gulf States nor in any other agricultural
country can individuals be found with ready
money which they are willing to lend their govern
ment. Money is scarce in all rural districts, aud
in n,ne more 80 than in the cotton States. Pu1c
loans can only be placed in large cities; aud If
the ssOOo,O00 loan of the United States, aud the
600 loan Of the Confederate States, are
taken at all, the one will be taken at New
York, where the banks hold $40 900, 900 Of
idle specie, and the other at New Orleans,
where the banks hold eighteen millions I, rests.
therefore, with the banks aud bankers Of New
York and New Orleans to decide whether these
two rival governments shall get money Or not. II
lies with tae rich men Of these two ctes-the men
who have most 70 lose in case OF trouble aud most
20 gain in the event Of a peaceful settlement Of
our national troubles-to say whether the politi-
clans who have brought our affairs to the present
miserable pass shall be furnished with the means