The New York herald., 1861-12-07
FINANCIAL AND CONNER ClAL.

'ca FRIDAY, Dec. 6-6 r. NJ e
The street continues dull. The report Of the
Secretary Of the Treasury and the probable effect
In England of the news of the capture of Mason
and sliden, arc the chief topics of conversation.
Money il very abundant. We presume IT can be
borrowed on call at per cent, though most Of the
brokers leave their loans at 6. Very few houses
are willing to give more than per cent for money
on deposit. Paper is extremely scarce, and rates
declining. -
Exchange is stiff but dull. The leading bankers
ask 100 for sterling and 5l5 for francs; butwe hear
of no business above 1881 and 5.l7I 1874,
and very few buyers are willing to give even these
rates. The uncertainty which oyerhangs our rela-
tions with England may contribute to impart
steadiness to the exchange market at the present
Tine. Our importations certainly justify no ad-
vance, For the week the entries Of dry goods are
only sl95 O22, against 81, ,202 03l same week last
year, and 81 ,66s, ,473 same week in 1859.
The stock market continues very quiet. Opera
tors seem all to have made up their minds TO wait
till news is received from England before making
purchases. In some quarters disposition ~
evinced TO operate on the probable effects Of the
report Of the Secretary Of the Treasury; but
nothing of any consequence will probably be done
until that document is laid before the public on
Monday next. At the first board this morning
most of the speculative stocks were steady.
Government skies, however, declined Il, Pacific
Mail "A, Hudson q, Illinois Central 1s, Galena Il,
Toledo u, and Rock Island H. Neither the dvi-
dend Of per cent inst declaredby the Rock Island
Company nor the assessment Of IS just levied by
tie Illinois Central produced any effect on their re-
spective stocks. In the afternoon the market was
very dull, and closed inactive, the following
being the last uotations:-Unted States SIS,
registered, 1881, s93s so; do. 6's, coupon, 1881
927s %; do. SIS, 1874, S25s SO; Indiana 5's, 20
70; Virginia 6's, 4s a 4sH; Tennessee 6's, Ala
42l4; North Carolina 6's, 59S4 GO; Missouri 6's.
40 u 4O14; Pacific, Mail, sah s5 New York
Central 771a 77Ss; Erie, 81 3l1s do. preferred,
81 a 81; Hudson River, 36a4 a 81; Harlem. ii "a
I2 do, preferred, 291l4 29s4; Reading, 1914 "a;
Michigan Central, asa 1876 Michigan Southern
and Northern Indiana, IL l71l; do. guaran-
teed, 36L 3694; Panama, Ill liz; Illinois
Central, CO.'S 60L; Galena and Chicago, 40
7014; Cleveland and Toledo, 321s 1925; Chicago
and Rock Island, 5214 522s; Chicago, Burlington
and Quincy, 81 a 5s; Delaware Lackawana and
Western, 85 Il; Milwaukee and Prairie du
Chen 1871 a 10; Illinois Central bonds, rs s71I q
Ss; Delaware and Hudson Canal, sl1l 50; Penn
sylvana Coal, 70 a 7s1I.
All kinds of rumors are afoat with regard to the
tenor of the report of the Secretary of the Treasu
ry; all concur in point viz: that it will recon-
mend, in some shape or other, large expansion Of
the currency. 1t is hardly worth while to discuss
the various projects which are understood to have
been laid before Mr.. Chase, as we shall have the
report itself in day or two. II is but right to
mention, however, that some OF the bank managers
are seriously considering the policy OF general
bank suspension in the event of large issue OF
paper money under the authority of Congress. If
the government is going to issue 5000 900 900 OF
$500, 900 900 of paper money, and make it legal
tender, our banks viii have to suspend for their
own protection. They are in an excellent situa-
tion TO do So There is not less than $50 600 Of
coin in New York city alone, and 500 000, 900
in the whole country than there was year ago.
The foreign exchanges are still in our favor, so
that coin cannot fow abroad. In view of the un-
Certanes of the future well in reference to the
rebellion as TO our foreign relations, general bank
suspension might prove measure of natural de-
fence and conservatism.
We learn that determined effort is going to be
made at this session of Congress for the repeal
of The Reciprocity treaty with Canada. Repre-
sentatives of border constituencies have always
been opposed to it, as, in their view, it gave to
Canada benefits which were by no means reqiited
by the province. generous regard for neigh
boring and allied people has hitherto induced the
bulk of the members Of Congress to oppose the
steps taken for its repeal, and the project has been
deferred from session to session. This winter. it
seems, the opponents OF the treaty count upon
success. They have taken the pains to collect
complete files OF the Toronto Leader and Quebec
O.roaioe-the government organs-which certain
Jy breathe spirit of unreasoning and implacable
hostility to the United States government, and
Of extraordinary and unaccountable sympathy
for the rebels; and they reckon that, with this ad
yentitious aid they will be enabled TO induce q
majority of the members of Congress TO
repeal the treaty. The Canadian govern
ment will be at liberty to enact a
reciprocity treaty with the Southern confederacy
if it succeeds in establishing its independence. This
will doubtless console the people Of Canada for
the advantages which their present government
seems so solicitous to throw away. Another pro-
ject, which has hardly assumed definite shape as
yet looks to the establishment of new CONNER
cial system which will efectually prevent the ex-
portation of United States produce by way Of
Canada. n, as the Canadian government seems to
assume, it is the duty of Great Britain to make
war upon this country, it is highly necessary to
prevent our people getting into the habit of using
the Grand Trunk Railway or the Canadian canals
a. means Of communication with the seaboard.
We notice that the Chamber of Commerce in
This city, in its very sensible memorial TO the gov
ernment praying that the Assay Office be author
ized TO coin money, estimates the gold yield of
California at $40 900 annually for the past five
years, 1s56-le6O inclusive. We should like to know
what authority the Chamber has for this statement.
We do not believe that the annual yield OF Califor
mia for the years mentioned was over s5j 600 o00
if it was so much. If the Chamber wants its state
Ments to carry weight, it should avoid blunders so
easily detected as this.
The Sub Treasurer received to-day from the
banks the ninth instament of the second fifty
million loans, 500 ,O0O About million was paid
in Treasury notes, and the balance in gold and de-
Inand notes. The following was the business of the
Office to-day
--tor customs l00VO 20
treasury hutes o,oVt ,c.o 20
Payments, including redeemed p notes. lS4 042 SO