Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1862-12-11
Prepared for the Rutland herald.l
Monetary and Market Matters,

monetary ana Nlarket "afterss
The report 1.-THE Secretary Of the Treasury has hoe,
transmitted to Congress, and has been thoroughly dis
cussed in financial circles throughout the country
Some measures which he advocates interfere with IN,
interest Of haras and contend they are inua;c
ious, inasmucA the banks have, from the rst com
mencement of the present troubles assisted the GOV
ernment whenever they have been asked to do 50 T,
Congress sees fit TO tax the circulation of banks benv
must necessarily be the means of obligng them to re-
auoe Their circulation and their loans to correspond
The Secretary very clearly shows the financial cond-
ton of the Government and conolusively proves that
we are able to pay debts. condensed statement
of what he says this point would not give the reader
good idea Of the matter as the secretary's own
words He says 'No country possesses the true ele-
ments of higher credit, country, in ordinary times
can maintain higher standard of currency and pay
! ment than the United States.
| The Government is less costly than that Of most
other great powers The expenditures of the current
fiscal year, excluding the aud navy departments
can hardly equal those of the last year amounted
to S24,5l476 S. Estimating those Of these depart
ments at double the expenditures of the last year be-
fore the rebellion they would for the current year had
the ended before last midsummer as was autcpat-
ed at the date Of the last report amount to the of
s55,S45SS4 49, The interest the public debt is for
the current year estimated at s25,oil5s2 o. and will
not probably go over that sum. The whole expendi-
lures of the Government for the current year. on the
supposton peace would therefore, not exceed $685.
s7s43 o. This aggregate must be increased hereaf-
ter by the addition of the interest on the loans Of the
current and future years and by pensions the precise
smnunt of which cannot be oreseen Estimate the for
at fifty, and the latter ten millions year and
the total annual expenditures in peace will reach
emitting fractions, to sl65 100000. The expenditures
of Great Britain during the year ending March ST. 1861
were 4s66s2 those Of France for 1862 according
to French official estimates will reach s42 s23 soo and
the annual expenses of Russia according to the best
accessible information do not fall short of $3.50 o0o
0oo
To meet our annual expenditures and to assure be-
yond contingency the punctual discharge of the inter-
est Of the public debt and the creation of sinking
fund for its reduction Congress has provided revenue
from customs even reaching nearly seventy mil
lions year, and revenue from internal dnties which
will not probably fall short of one hundred and fifty
millions year
Without reckoning any other resources than those
already provided, the revenue therefore, will annually
exceed the expenditure by fty-fse millions, which
sum may be used for the reduction Of the public debt
Ii, them the shall be continued contrary to hone
and expectation to midsummer of 1864 and the public
debt shall reach the utmost limit now anticipated of
s75O0 100000 the excess of the revenue will reduce
that debt, dnrlng the first year of peace, than
per cent"
Tee Secretary does not TO be very much in ia yor
ola further issue of demand notes. but it seems to be
the general impressan that the committee of ways and
means will report in favor of issuing $3.50 900 more
Nearly everybody seems TO regard it hazardous move
to make any sudden change in the financial policy Of
the Government 50 long present troubles are SO
undecided When we have decided victory, and the
rebellion looks like being ended then the people will
be better prepared to make sudden changes.
The great number of kinds and denominations Of |
Revenue stamps continues to be general complaint
In small towns some has got to keep quite large
stock Of stamps in order to have all the kinds or else
every time any business is done they have got to send
of to me larger town for stamp such as they want
There can be good for having specific stamp
for every instrument A cent stamp ought to apply
to every thing which 2 cent stamp belongs also S.
TO- so, etc. 1t is evident that it not practical men
that drafted the stamp act, and SO long as the
people anxious to fulfill the requirements of the
law 1t is TO be hoped that Congress will relieve the peo
pie of sech an annoyance s... |
NEW YORK MARKETS
The New York papers having failed to arrive last
night owing to want of connection of trains we give
the Boston market contained in yesterdays papers
Corn Exchange The receipts since yesterday have
been Si97 bbls Flour, 1923 bush Corn 500 do Oats
and 1913 do Rye. The market continues stesdy and rm
for Flour, with sales western superfne at Sc Is;
common extras at Sc 62 10 IS; medium do at 81
50 and good and choice, including faverite St. Louis
brands, at ~ Is a9 so per Dbl In southern flour
nothing has been done, and prices are nomially the
same. Corn is quiet but n with sales IS f5c per
bush for western mixed, and soc for western and SOUTH
ern yellow. Oats firm at 81 CSC per bush with or
ders for large lots. Rye 81 Co., Shorts s24 s25; and
fine feed and middlinss at s27 % per ton.
Provisons-Pork is firm at sll so IL so tor prime:
sl3 Is so for mess and SIS Is so for clear cash
Beef ranges from sl2 so Ia Is for eastern and west
ern. Lard 81 10 Lac in bbls and terces and 10 IL
a lie in kegs; and Smoked Ham. 9c per Id.
From New York paper received since the above
was written, the following additional is givenD
Hay-North river has been actively sought after a.
81 IL s5c per 100 lbs
hops-New crop have been in fair demand, at from
la Is per b. 1s
Butter Cheese Butter is actively songht after, at
is zoe for poor to choice western, and q 26e for
common to choice State per h. Cheese continues in
lair demand at a II l-2 per h.
Rice-Is quite duh and nominal. s |
Seeis-Are in demand at 10 IL 10 Sic for clover
per lb 50 40 IS for Calcutta Linseei 81 so IS for