The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-13
FINANCIAL AND CONNER GAL.

Over one million dollars were paid into the Sub
Treasury this morning by the subscribers ia. the
| national loan. The heaviest sum subscribed during
the day was one of 300, 600, which came from one
of the most prudent and conservative financial in
stitutons in the city. A large individual subscrip-
ton--fifty thousand dollars-was made by an old,
careful and highly conservative merchant, who in
formed the sab-Treasurer, on rendering him his
check for the amount, that he had come to the
conclusion that it was his duty to lend this money
to the government, and that, moreover, he con-
$4,000 subscriptions came from financial institu-
tions, and the usual mixed assortment from indi-
vidua's. The subscription Of to-day shows what
will be done when Mr.. Chase gets his five hundred
agents fairly 70 work in every town throughout the
North. The government need feel no apprehen-
sion about money.
There is rather more inquiry for money to-day,
and paper even of high grade is not easily sold
This arises from the large accumulation of specie
Last evening the Snb-Trcasury held-excIusiye Of
balances TO the credit Of disbureing oficers-$l5-
100000, and it is rumored that another instamcnt
of6 per cent on their subscription to the national
loan will be called in shortly. People do not nm
derstand why all this money should be withdrawn
from bank and boarded in the Sub-Treasury before
it is wanted. 1t was suggested that the Secretary
was afraid Of his demand notes coming back upon
him for redemption. This apprehension was gra-
tutous The people Of the West will be too CRATE
FIJI for sound currency to part with it readily and
if it should come here it would go into general cir
cuaton directly and he kept a6oat. In fact, none
Of the demand notes have been seen by our leading
currency brokers, though they have had several
applications for them by parties who wished to
travel West with money. balance OF Sc, 900
or So 900 is quite enough for the necessities of
the SubTreasury here, especially as the Secretary
can call upon the banks to pay three, four or eight
millions any morning.
Foreign exchange is dull bnt firm. Bankers ask
1879 l03 for sterling, and 1921 for francs.
Stocks were moderately active to-day, without
speculative excitement. There would have been a
tendency to hammer prices on the railway earn
ings, but the news from Kentucky was considered
so cheering for the Union cause that some new or
ders made their appearance and rather inundated
the bears. series of successes for the cause of
the government could hardly fail to stimulate the
stock market to unwonted activity-ths IS the dan
ger for the bears. There was nothing done at the
board in the new government skies, which arc firm
iy held. Treasury notes were steady, though small
amounts cannot be sold except at n concession.
State stocks were better: Tennessees rose TX,
w
The market for these stocks has improved since it
has become understood that the District Attorney
does not contemplate any interference with fair
trade in them. When the retreat Of McCulloch
from Missouri is confirmed fresh demand for
the skies of that State will probably arise,
az they are secured by q first
mortgage on 7AO miles of railroad, which
cost to build sS5 900, 900. At the commencement
of business to-day some of the railway stocks
showed tendency to improve; but were freely
offered by the bears, and slight decline occasoned
in few descriptions Rock Island fell off 1% I'LL
nois H. and Michigan Central Il. New York Cen
trail improved a at the first board but fell off in
the afternoon to yesterdays price. Galena rose d
in the morning and another Il in the afternoon;
Toledo was also "A better. Erie and Hudson were
steady. AT the second board but little business
was done, and the market closed steady the fol-
lowing being the last quotatons:-United States
G's, registered 1881, 80 a 4; United States 6's,
coupon 1881, 9O1a "a; United States SIS, 1874
so "A; Indiana SIS, II 49, Virginia 6's, 81 u;
Tennessee 6's 43H "a; North Carolina G's, 60 a
6aH; Missouri 6's, 4sss q; Pacific Mail, So u;
New York Central, 7sA q; Erie % &c. do.
preferred, Al as; Hudson River, 331% q; Har-
Ia, n ". No a ~.
3534 a 1914 Michigan Central, AZ "a; Michigan
Southern and Northern Indiana, 1917 a IA; do.
guaranteed, 3O34 81; Panama, 10 q 1l2; H.
linois Central 671A So; Galena and Chicago, 6e1s
"a: Cleveland and Toledo, 30H a ~ Chicago
and Rock Island, Az %; Chicago, Burlington
and Quincy, G91a a "a; Delaware, Lackawana and
Western, 6s; Milwaukee and Prairie du Chen, 1871
10; Illinois Central bonds, rs, SO a o. Delaware
and Hudson Canal So a u; Pennsylvania Coal,
76 70.
One of the strongest arguments Of the opp6.
nents Of American credit abroad rests upon the
statement that our trade has fallen away to no.
thing since the war began In proof of this, the
London Times refers to the decline in our impor-
tations of foreign goods. This is probably the
first time in history that nations commercial 40
tivity was gagged exclusively by its consumption
of foreign products The usual test of the pros
perity Of a country is the amount Of its exports
and of its productions. If this test be applied to
the United States shall find that the country is
really more prosperous now than it was year
ago. Our exports from this port are heavier than
they ever were before; as compared with last year
they show an increase Of nearly 40 per cent, and
as compared with the year 1859 an increase of
about SO per cent. The production of the United
States, during the year 1851, has been full ave.
rage notwithstanding the decreased production
Of cotton, tobacco, rice hemp, &C., in the States
convulsed by the rebellion All accounts from the
West concur in stating that there never was
so heavy yield Of corn md wheat rs
this season. The weather has been emf.
nenty favorable for agricultural operations
and the war has not interfored with tbcrn
anywhere. The West has to-day moro grain. Of
various kinds, to send to market than il ever had
before But this is not all. Not only has the
country produced and exported more during This
year OF war than it ever did before but our inter-
nal trade has been far more active than Is gene
rally supposed. To listen to the complaints of
merchants who cannot effect collections. one