The New York herald., 1862-02-13
FINANCIAL AND COMMERCIAL.


of sales of short paper, very choice, at per cent
Strange to say. however, the deposits at the Sub
Treasury to-day. at per cent, were less than
5000 000 considerably less than the average of late
The brokers are generally paying a 6 per cent
for money.
There was nothing done in exchange to-day.
The bankers are holding firmly at ll4A lis.
Gold advanced to-day and was active. At the
close l0414 was bid for large amounts The
Cunard steamer, which sailed to-day, took out
$6ls, 900, and large amounts are expected to be
shipped on Saturday. As it does not pay to buy
gold at present prices and ship it against bills even
at us, it must be presumed that the parcels
of specie which are now going abroad have been
held here for some time for foreign account
Stocks were active to-day; but there was no such
advance in prices as the accumulation Of good
news might have been expected to cause. With
few exceptions the commission brokers are doing
no business. The public are not buyers Of stocks;
nine -tenths of the purchases at the board-except
in the case of first class bonds-are by few specu-
lators who buy to resell at profit. Hence neither
the success of the Burnside expedition. nor the
cheering news from the Tennessee river, nor the
prospect of the early passage of the Treasury Note
bill through the Senate, produced anything like
the effect prices which, in different temper of
the public mind would have followed much less
conspicuous subjects Of congratuiation. Comparing
the prices current this evening with those of last
evening, VIC note decline of "a in Hudson River,
of q in Harlem, of q in Michigan Southern old,
and of "a in Illinois Central; and an advance
of 4 in Tennessees, 4 in Mssouris, a in
Pacific Mail, "A in New York Central, Is
in Erie old. :. in Reading. u in Panama.
"A in Gaena, "a in Toledo and Il in Rock Island.
The market closed steady. the following being the
last quotations. United States G's, registered,
1881, 90 Il; do. 6's, coupon, 1881, S9s+ .; do.
SIS, coupon, 1874. 1914 80; Indiana SIS, "A rs;
Virginia Ga. SO 55; Tennessee 6's. 4514 "a;
North Carolina 6s. 63 a Ga Missouri Gs, ~ a a
Pacific Mail, 90 Il; New York Central, so24 a u
Erie. 3411I ss; do preferred. 57H 5s; Hudson
River. SO a q; Harlem, l2H a q; do. preferred
s0as4 Reading, 4l1I u; Michigan Central 81 q
u; Michigan Southern and Northern Indiana,
2lH "a; do. guaranteed. Az q; Panama, 1l3A
Id; Illinois Central, 5614 o 4; Galena and Chi
cago, 67 "a: Cleveland and Toledo, As a Is; Chi
cago and Rock Island 53ss "a; Chicago, Burling-.
ton and Quincy, 6l11 62; Milwaukee and Prairie
du Chen, 19s4 a 2014: Cleveland. Columbus and
Cincinnati. 1919 a; New York Central rs Of
1875. lO5 -; Erie third mortgage bonds, 94Hs
&c: Michigan Central 8's. first mortgage, 99A
i00 Illinois Central bonds, rs, 921I a.
1t is understood that the Senate will pass the
Treasury Note bill to-day. 1t will not be day too
soon The banks are all refusing to receive
demand notes on deposit to-day, and they SELL
ing on the street at 4 and SIG discount. Unless
they arc made a legal tender within day or two
grave inconvenience will ensue. The Senate Com
mt.ee on Finance has amended the bill as passed
by the House by restoring the section requiring
the interest the debt to be paid in coin; by for
mally authorizing the sub-treasuries and depo-
STORIES to receive United States notes on deposit
at five per cent as they are now doing under the act
Of July last and by specially pledging, for the pay
Enent Of The interest the public debt and for
its ultimate extinction through the medium of
sinking fund. the entire proceeds of the
revenue from customs duties. public lands.
and the con6scation OF property owned by
rebels. II these amendments concurred in by
the senate. the bill AS amended will have to go
back to the House for concurrence in the amend.
meuts It ia to be hoped that no delay will be thus
occasioued. No sound objection can be raised
against the Senate amendments: the utmost that
can be said against them is that they surplus
age. The interest ON the debt would always be
]
cd t. for the simple reason that refusal by govern
ment 20 pay it, interest in gold would amount to q
warning TO foreign capitalists not to invest in our
securities. The deposit system is already 10 full
,nd successful operation under existing laws. AS
70 the special pledge Of specific revenues for the
payment OF the interest and the extinction of the
principal OF the public debt, it is to be
presumed that the entire revenues OF
Inc government are already in fact pledg-
cd 30 It's creditors ior all that il
owes. and, unless Il be proposed 20 commit nation.
al suicide. they viii be used IN paying the public
debt principal and interest, wi'h or without spe.
ria pledges At TIE same tim. positive enact
ments in regard to the payment OF tho interest in
coin and specific pledges Of revenue. will proba-
bly impaft additional value 20 our piblic sccuri-
ties IA tie markets Of the world and certainly can
30 no harm. It is therefore hoped tlat the House
Of Representatives will not refuse 20 concur in
these Senate amendments. The main point jus. no n
il to pass the bill without delay. and take up lhe
Tax bill. Every day. every hour wasted in debate
is stab at the life OF The nation. Mr. Chase owes
over hundred millions Of past due debts: il
more time be wasted our army may begin 10
feel nervous about is pay II il earnestly hoped
that the Committee OF Way5 and Means may be
able 90 get the Tax bHl in shape for presentation
to the House ts week. TIT, correspondents OF
forcga bankers here wri.s from europe that the
pa sage Of an adequate Tx bill, aad reasonable
probability that taxes would ae paid by the people
| Of the United States, would set stream oi money
flowing 10 this side from Europe which would very
| quickly balance the excess nf imports over
our exports. At present every mail brings large
| amounts OF American securities home for sale
| State and federal bonds. railway bonds and stocl
arrive here at the rate OF millions per wctk. the
| sellers alleging reason for selling hat the IA
lion Is plunsing into bankruptcy through fears o
taxation. How long will ,he Committee Of Way
and Means suffer these injurious imputstions 10 g
\ unrefuted'
| Another million dollars Of the six per cent bond
was received from Washington to-day on aocoun
| of the banks There are now two millions 10 tn
| Al -,,t,