The New York herald., 1862-02-20

purely speculative, revived. II the recent victo-
res should defeat the passage of the Treasury Note
bill, the gold spectators would be punished even
sooner than they will be if the bill passes and an
adequate tax bill s at once pressed forward. Inc
scheme Of the subcommittee of Ways and Means
for tax bill was laid before the whole committee
to-day. II is to be hoped that it will be reported
TO the House without delay.
The stock market was lower to-day. The want
of outside business renders the task OF the bull
spectators very difficult, Notwithstanding the
ease in money and the improvement in public
feeling. The public appear to be buying State
stocks with some bOdness. Virginias rose per
cent, Tennessees /, North Caronas "a, and Mis-
souris lE. Inexperienced persons must be care
u how they are tempted to purchase the securities
of the rebel States. 1t is impossible to say what
bonds they may not have issued during the past
year, under the pressure of war; and, though the
proceedings of the Confederate government are
OF course null and void it is clear that each State
may be held answerable for any securities which
may have been issued by the proper State authori-
ties, even under the influence of the rebel leaders.
The debt of Virginia was quite as much as she
could take care of before the rebellion, and the
way shares were irregular to-day, but generally
lower. At one time there was quite a smart decline
in some stocks; but at the second board the specu
lators bid up the market, and prices closed better
than they had been. We note, however, decline
of per cent in Pacific Mail, in Erie, % in Hudson,
% in Illinois, "a in Gaena, and l in Toledo. The
market at the close steady, the following being
the last quotations.: States 6's, registered
40
do SIS, coupon, 1874 7994 1915 Indiana SIS, IS
-; Virginia 6's, 81 5S; Tennessee 6's, SIS 55H;
North Carolina 6's, 6614 a 6634; Missouri 6's, As
4s14; Pacific Mail, 94I 9414; New York Central,
s211S s25s; Erie, 341l 345s; do. preferred, 5s%
5s5s; Hudson River, 3s14 3s5s; Harlem, l2h
l294; do preferred, 40 80; Reading, 43 1917;
Michigan Central, 535s 532s; Michigan Southern
and Northern Indiana, 2214 222s do. guaran-
teed, 4314 4324; Panama, ll9 lls14; Illinois
Central, 62 a 6214; Galena and Chicago, 6s a 6s14;
Cleveland and Toledo, Az 4414; Chicago and
Rock Island 541a 547s; Chicago, Burlington and
Quincy, 621a 63; Milwaukee and Prairie du Chien
20 a 2OIS Cleveland, Columbss and Cincinnati
lOs1s -; New York Central rs, 1876 lo3Ha
1927; Erie third mortgage bonds, 96 =; Michi-
gan Central SIS, first mortgage, l0l1 1925 ILL
nois Central bonds, rs, 9314 931aa.
Ihe business at the SUD- treasury was as fOllOws
to-day
Receipts 1857 1929 81
For customs ................-...... ia2'oc0 90
Payments ........................ Oh ,4tZ w
Balance % 203,4 ,444 "A
The exchanges at the Bank Clearing House
this morning were &c ass 2e6 "a, and the balances
ss2s, ,24s SO.
By the Kangaroo we have advices from London
10 the 5th inst. The London money market is re-
ported easy; but gold continued to be drawn
from the Bank of England for transmission to the
Continent. Consols were dull and without fluctua
ton, closing the 4th at 9234 925s. The London
Shipping and Mercantile Gazette Of the evening
Of the lth inst. thus notices American stocks:-
The transactions in American securities comprise
Virginia State 47 Erie shares, per cent Preference,
IS TO S. Illinois Central, 1872, 19i; do 800 shares,
$50 paid, ~ do all paid, 531s New York Central 500
shares 2z Pennsylvania Central bonds first mortgage
convertible, So.
The position Of the British money market during
the past month is thus described in the Bankers
Ndqdzine Gnd Commercial DiGest:-
The progress Of Affairs, financial and coha0acal, has
been certainly satisfactory than supposed
could be, considering the late position Of relations with
America Previously 10 the receipt of the answer OF Mr.
Seward the demand Of Earl Russell great anxiety
expressed, since confidently predicted that
paraton would be offered but that hostitcs must en-
sue. The natural result was that trade experienced
further check, business al the Stock Exchange became
restricted and only movement by which profits could
be secured the enhancement in war risks at oyds
When however II was announced that Mossrs. Slidel
and Mason would be released and That the attitude OF the
federal authorities altogether conciliatory, then
general recovery occurred the markets became
Ell the appearance Of affairs having entirely changed
This may be well imagined when Il is animated mat the
bank reduced the rate of discount to 2 per cent the
abundance Of money through the paymeat Of the dyi
dencs with the influx from other having lowered
the quotation ont Of doors for first class bills TO per
cent The Bank Of France subsequently reduced their
terms 10 ~ cent, which Indicated an improved
don OF things. Such is the current plethora, notwiih
standing the Indian railways have been in tie marSet
completing debenture and other subscriptions the
Of alb, f2 000 Geo actually absorbing that
that prime selected paper has been taken as low as
On the Stock Exchange money has positively gone
begging az per cent, and is only quoted al x
per II must, nevertheless be admitted that this
plcnteousness arises great degree from the tacna-
tion OF general mercantile business anG from the indis
position manifested TO engage ~ adventures o any de
fcripton without they based oE the most solid
foundation. The suspension of specie pay by the
banks Of New York Boston and PhaGerh.a and also by
the federal government has rot created any surprise,
end. beyond marking the effects OF the civil IN Amer
ca, not been regarded with any great interest,
sssrv:-: ts
stock Exchange.
WEDNESDAY, Feb. 10. 1862.