The New York herald., 1862-03-06
FINANCIAL AND COMMERCIAL.
WEDNESDAY, March Sc p. NJ.

WEDNESDAY, March Sc p. NJ.
Money is abundant again at seven per cent, and
loans are effected at six. The Tax bill continues
to be the chief topic of discussion in financial cir
cles. There are wide differences Of opinion with
regard to the details of the measure; but there is
but one mind on the main question-all are in ia
vor of the speedy passage of the bill, and no one
seeks to cut down any of the taxes. This country
is able to raise in one year, by direct and indirect
taxation, four hundred millions of dollars, without
laying intolerable burthens on any branch of in
dustry or class of people. The people expect that
this will be done. If the agricultural population
of the West cannot pay taxes, the East can and
will. The results Of this war will be worth more
to the country ten times over than all it is costing
us. Congress should, however, add to the list of
articles of produce taxed, cotton, wheat, corn,
turpentine, sugar and rice. 1t is unfair to tax
flour, pork, soap, salt, &C., and to leave these
equally important articles untaxed. Let the taxes
be general and thorough, and the credit of the
United States will be the first in the world.
Nothing is doing in exchange. Bankers ask
l12A ll3. Gold is in rather better demand and
is quoted bid.
The stock market continues steady, with fair
amount of genuine and less speculative business
than usual. Spectators are not pleased with the
government embargo on news, and are waiting
anxiousy for intelligence of army movements. The
preponderance among the leading members Of the
Board is on the bull side, and they feel confident
that the forthcoming issues of paper money, the
successes of our armies in the field and the large
earnings of the railways combined, will insure
smart advance in prices before long. The public
are free buyers of government sixes the price of
which is well maintained, notwithstanding the sup.
ply furnished by the banks. Railway bonds and
some stocks are likewise taken by the public in
small lots. There was no change in prices to-day
worth mentioning. The market was quiet but
steady all day. Tho following were the last quo
tatons:-United States 6's, registered, 1881, 92T
90; do. 6's, coupon, 1881, s2ss 9294 do. 5s, cou-
pom, 1874, s4H IS; Indiana 5's 1874 1871; vir.
ginia 6's, 60Z =; Tennessee 6's, 60 COZ; North
Carolina 6s, 67 . 70; Missouri 6's 521& 6214;
Pacific Mail, 93A s3H; New York Central, s2ss
S2A; Erie, 34zS IS; do. preferred, 5sA q SO;
Hudson River, 81 s714; Harlem, l214 1873; do.
preferred, 29H 80; Reading, Az q 4lHs; Michi-
gan Central, 53Z 81; Michigan Southern and
Northern Indiana, 23I "a; do. guaranteed, AK
As; Panama. 1l6 lls; Illinois Central, GA 6414
Galena and Chicago, 67A 67A; Cleveland and
Toledo, 45sS a 45A; Chicago and Rock Island,
55A So; Chicago, Burlington and Quincy, 63% a
63M; Milwaukee and Prairie du Chen, 2O11 a 81;
Cleveland, Columbus and Cincinnati, 1t9Z 1l0;
New York Central rs of 1876, 1887 10411.; Erie
Sd mortgage bonds, slH 9l24; Michigan Central
s's, first mortgage, 1927 l03; Illinois Central
bonds, rs, 93N "a.
The American Bank Note Company will to-mor-
row despatch to Washington eighteen hundred
blank Certificates of Indebtedness"- for
81 900 each, 600 for IS 600, and GOO with no sum
mentioned. This is the first batch of blank cert.
fcates printed. The company will go on printing
them, and Mr.. Chase will continue to issue them,
at the rate of several millions a day, until the
entire floating debt of the government-now
variously estimated at from $75, 900 to
500, ,OOO, ,O00-is liquidated. The following is q
fac sinnle Of one Of the 81 900 certifcates:-