The New York herald., 1862-04-07

who were not ashamed Of trying to make money
by damaging the credit Of their country at the
present crisis. 1t is to be hoped that their dis
graceful conduct will meet its proper reward in
heavy loss on their operations.
The money market is fairly active. Call loans
are quoted at 7 per cent; first class paper at 8
7, with few rare exceptions such as bankers
short scceptances. at S; certificates Of public in
debtedness with one year to.run. 9614 4; depo-
sits of Treasury notes at the Sub Treasury, per
cent. Mr.. Cisco received yesterday four millions
of one thousand dollar Treasury notes of the new
issue, and has begun to disbarse them. lie will
now receive large quantities of these notes by each
mail, and they will begin to enter into general cir
culation. 1t Is q remarkable fact, as illustrating
the national powers Of absorption, that few
weeks ago no notes were 80 generally used in cir
culation here as the demand notes Of the govern
ment, while now they are extremely rare. The
country has taken fse $50 100000 Of these notes
and absorbed them. They could not be called in.
If it was the purpose Of government to call
them in. Most of them have found 0 home in the
West, where they treasured as the best curren-
cy ever circulated in that region, and they will be
kept there until they worn out The fate of the
new legal tender notes. os which 500 900 900 will
be set afOat in the course Of the next six weeks,
will be precisely similar. The country will
take them joyfully. For few weeks they
will be current here; but very they will find
their way into New England and the West and'the
South, and will not return There will arise the
same difficulty which has created 80 much COM
ment here of late. People will begin to complain
of want of circulation. In the absence of better
currency, out Of town banks, about which no one
knows anything, will again obtain circulation for
their notes. which constantly being successfully
counterfeited. Will the government at that crisis
refuse to supply the popular demand for further
issue of sound public currency? We think not.
In May or June next the want of further issue of
500 000O 900 of legal tender notes will be gene
rally admitted that Congress will probably yield to
the pressure. The country ought to have paper
currency of $500 0O0000O This currencyAo ought to
be uniform, at par everywhere, and secured be-
yond peradventure. In political point of view
the establishment Of such system would be i'm
portant. II the Southern States had had no other
currency than paper issued by tho United States
government, and every Southerner had had some
Treasury notes in his pocket there would have
been no rebellion.
Foreign exchange closed yesterday inactive.
Bankers ask 1l2A n for their bills ON Lon.
don, and 5.021 sos for their bills on Paris. Mer.
camille bills sell at the usual reduction from bank.
ers terms. Gold fuctuated all last week between
l0l% and loo, closing 102 bid. The course OF
trade leads to the belief that both gold and ex.
change must advance, as the importations are
steadily increasing, and the means of paying for
them in produce are falling off. There is no sign
of any revival of shipments of Southern produce.
The unscrupulous miscreants who control the in
surgent armies, having nothing to lose themselves,
are adding to the already terrible list of their VII
lanies by destroying the property of the defence
less planters in their midst. Private information
states that many leading planters, who have been
unable to stem the torrent of treason, are now
falling the first victims to this lawless brigandage
of the rebel soldiery, and are being utterly
ruined. Under the cloak Of patriotism, Q rabble
Of Southern banditt worse than the vilest high.
waymen of the Old World, are going about
destroying and preparing to destroy cotton, to-
bacco, turpentine, and other property belonging
to inoffensive citizens Of the South. Many weeks,
and even months may elapse before our armies
are in position to protect the propertyholders
of the South against the incsndiarism of these
rufians. In the meantime it is idle to look for any
such receipts of Southern produce as might serve
to pay for any substantial portion of our imports.
1t may as well be taken for granted at once that
whatever we buy at present from abroad we shall
have to pay for in gold. In this connection it is
remarked with concern that receipts from Cali.
fornia have lstterly fallen of nearly one-half, on
unusual proportion of gold being sent direct from
San Francisco to England.
The following table shows the course Of the stock
market for the mast week and month";