The sun. [volume] (New York [N.Y.]) 1833-1916, 1862-02-19
+ | n A n c I A l..

NEW YORK TnosiA,, Fob. Il n
r., Nusiuess at tha board waS not 81 ia go aS yo'-
t,ria aud tho rar ads were not q, firm. Tue
st.'ks verr, loScvor, quite anmAted. The prob"
ul" quesI e a.. state ~ aid N their ere
lit among NE brokers.
1hot nuAa,tions in gold were considerable; hw
1 decline. rtrrriroa At tho u Ari were 3S2'.
A't"r the Hoard there was fair smount of tran.
tiuuH II 0sn, and In some rascs, higher rNto-
Tho prc,s ~ cNcharge tnr the steamer tomorrow
moro arm ihar u rate Of tod. BInkers still
ask lib.lisA trr sterling.
The exchanges at the Clearing House are, today,
81 26s 100 and tho balances 81 ,o9s 40.
NJ Cincinnati, gold lss 40 per cent. premium, Al
BostoU. ~ A4t per cent.
The specie ~ tie PllaielpbiN B,nkt this week
" s., Si9,S3l, with light ,uoreas, the crrrs-
ton.
AUrv BSnL ,s7 D. % rt.rt At M1untloy, Ian
so ter y uut, reLu-y yaniA under the free bank
Ing law. It Ia called the Farmers Bank ~ Mount
Joy capital $4,000.
At Providence, this week, Prnters' cloths sold,
CiNGi, Vt cents, sgHlutt cents, same period last
year belns an increase ~ 90 per cent.
The adyiccs per the Rdinbuuin, h tho 81 inst
,Io ~ contEucd ease In the money market. ca
ton steady, and bren istulfs quiet.
The difference betVeeu tho npto bl, which
passed the HOUSE. and that which hsi p.tscl ths
senate, Il important In three po'r,s.
The House bill provides thrttucce shall bo issued
xibn OOO NJ notes no, ess Ih IA g. ec able a.
Ne Treasury " the United States Ofthese, $50 ooo
OOO q be in lieu NJ Tho issued under the law
nfJuly, aud shall De instituted for them speedily
~ y Asble. Under this proylsnn, the nptea now
out will not H. legal tender at all, and new notes
mug, ba made aud issued before thai IA uty Ia at
tach,d n them.
| Tne sau 1ts bin makes the notes now out = legal
under and ads thereto 800 OOc 900 oi new notes.
The advantage o' ths House provision Ia that ths
notes will be pnf rm, bu, n, 80, ~ delay In get
ting them out The Senate makes them legs
tender NJ once. Tais sdvsr tago might bo extended
~ those In the ,use bill, without interfering with
the substitution. II IL thus very easy " harmonise
tho two bills on that point. Both bills make ths
uctss a legal tender and fundAole in ssDck N the eH'
tent ~ $4,000 600 leaving per cent. redeem able,
40 riding " tho House bill, afler 20 years. AMI 40
cording " the Senate bill, afsr years and within
2 years. In nis re'pec, the House I'LL Is by fAI
tho best, and most in scccrdance with d1'ernr.sn'
usage hitherto The House bill g,ves the alterns
tive G., Al per cent stock rodeemable AFTER years
snd th. y nate u, $40 per cent noes, rodeema9l
aner years. The absuriity # this proposition Il
te Senate ID apparent in the fact tina, the outsiand
lng demand u,Ies are now fundahe In $40 ~
year notes. and these ater sell ~ 2aa per oent. dis
Z, unt
| Bah tie Senate and House hills permit the secre
t.ry H. sell the new stek for the market pr oe, o
exchange for these notes Tho "market price" i
now o. and ia not much likely TO be higher W.T.
5000 OCO more " come upon the market, Hence
the "priylege" Of funding in them a, par s no
very manifest.
The House bill makes the Interest payable In pa
per- and Ine senate bill presc ibea coin for the int'
r,a II compsls everybody, even the several states
In ooectiI taxes, and the soldiers for their pay,
take paper money, but the banking aud mouod il
teresa are " have coin. This may be ordered o
paper but will te lmprEcticabls In execution.
The Senate bill provides, however a fund, con
posed Of the customs duties, the proceeda Of land
and Of c,nAscaiions, " pay 'hs interest on the pu
Ne debt, and sinking fund ~ per cent. Of II
whole Debt per Annum for 'he rodemltlon Of t
I debt.
The House bill makes n, special provision
| IayiHg the interest," and none Ia required n a Il
: I'm, adequate Of all the Government " antA, Is
: Wei,
4 The ssnaie AlsD restored ~ the bin provision
tie reception ~ the Treasury Of the dem'nd not'
d up N dapysitf, 1t interest Of per cent.
!, The two Houses vii, dispute most over the c,'I
7 Tor pay ing Interest in coin, prop ,stion which
, pu,tly cl,pirAp and designed a. Ipb. II 'hs Ii
vrrnu, Mt has meNus T. pay, all can have coin. II
y mas ma means none can have il. Tua Iroposh
= is a false light hung out by wrecEera.