The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-08-06

Tho news from Europe OF o further advance in
breadstufss, and Of an excitement in the markets
indicating . continuation Of bad weather and
probability Of short crops on the other side-will
have tho effect Of still further stimulating exports
Of food. Had the Mississippi been rcopened, as
was expected, we might have hoped to have
been shipping cotton BY this time. As it is, we
are importing American cotton steadily from Lii
vcrpool, and shipping nothing but those qualities
Of sea island which are almost exclusively used in
Europe. a
Money is very abundant at per cent on call.
Certificates OF indebtedness are selling at 9Sss,
green backs 81 I05. Much lower rates for money
arc expected in Wall street.
Exchange and gold wcrc generally steady tc-
day. There was fair supply Of produce bills at
abous 1873 and some bankers were offered at Sec
ond band at I2c: :he leading houses ask 1861
III. Gold opened this morning NJ ll411aa. rose TO
1l4s4, sold ut iis4 ct the second board, and
closed that bid Our receipts from California
promise 10 supply al that may be required for
shipment 20 Europe: but il seems to be expected
ia tic stree: ihat further issues Of paper cannot
fail TO advance III the premium on pre-
Liocs metals.
Thc stock market ie,t the effect o: the new war
orders Of President lincoln in q very marked de-
gree this morning. Operators seemed to think
that the levy rendered the triumph Of the
Unicn eanse u matter of certainty, anu felt quite
hopeful in consequence. There was "a active in
qairy for governments al Yesterdays best prices;
$50 notes advanced H. The speculative list, led
by Central and Erie, all higher At the
drs: board Central rose per cent, Erie Il,
preferred Il, Harlem preferred "a, Michigan
Ccn,ral 70. Southern old "a. guaranteed a.
Illinois Ccg.ral q. ualcna %, Toledo "a and
Rock leland 70. Boa,is generally inactive.
Between the boards prices we're firm without much
activity. 1t the second beard the buoyant feel.
ing continued Central touched o. ard Erie pre-
f-lrcd C3s{-thcsc being the most active stocks on
the list. The market closed firm, the following
beirg tic last quotations limited States SIS, re-
gistorcd, 1881, as% 90; United states
Us, coupon, 1851, oss6 9ss4; United States SIS,
1874, Soeg 8j1, Treasury notes, 3-l0 per cent,
l091. 1927; Tennessee G's, 49S4 n $685. Virginia
6's jais 81: North Carolina 6's, G5 a ca; Missouri
as, 45ls q .j1l: American gold ll45. l141s; Pa
cifc Nail. Iii u ill1s; New York Central, 9ls4 n
9iJ.; Eric, 81 q 3las do. preferred G3ss 63s4;
Hudson River, al . 45i/; Harlem, 145S 14H !;
do. preferred. 355s a 35lt; Reading, 561a q 81 :;
Michigan Central, CT Ga; Michigan Southern
and Northern Indiana, rs 70 70; do. guaranteed
5dss 5cls: Panama, l3t 1876; Illinois Central,
ast, az "a, Gaiena and Chicago, 6sss q GS94 !;
Cleveland and Toledo, 475s IS; Chicago and Rock
Island, cas- q GlL. Chicago, Burlington and
Qancy. Is 70; Milwaukee and Prairie du Chen,
~ q r2l<: Ne" Work Central rs oflS7G, l0S -;
l.ie Third mortgage bonds. 99ss o994; Michigan
Central So, LIST mortgage, 1917. q 1903 Illinois
Central honda, rs 955, %.
The new policy Of tho general government in
calling an additional force of 100000 into the
field involves important financial considerations.
The appropriations made by Congress at its last
scsa,on. and the financial measures adopted for
raising the money required for the prosecution Of
,Le var. were all predicatcd upon the supposition
that tie army ~ /; then stood, numbering perhaps
10000 ncn. would suffice 10 bring the war TO a
close. An increase in that army TO million men
will require twice much money. II the troops
cost 81 200 year per head, which,was the old
estimate. tie annual expense Of maintaining the
army now called for would be something ike
~ 900 coo COO which would DO exclusive Of what
~ money might DO required for the Navy De.