The New York herald., 1862-03-08

amounts 10 u ,l67 ,756, and the amount throWn on
the market to $3.50, 900 more. Included in the for
mer are $233 800 worth of Silks $44s,775 of wool
lens and sl35, ,76l Of linens Congress will thus
perceive that the duties these articles of foreign
manufacture may be raised still higher without
danger. Our people win import foreign silks and
woolens, whatever the duty may be, and the in
terests of the public revenue would seem TO re-
quire That this branch Of trade should be made to
| yield as much as possible.
Foreign exchange is very dull. Bankers ask
ll2% ll3 for bills on London; but there is no
inquiry at these rates. Francs are held at sos a
500, with very little business.
| Stocks continue firm. Spectators are generally
| awaiting the deveopement Of the military move
ments in progress, and the indications are that the
first success will be followed by active time in
the stock market Stocks Of all kinds are scarce,
and the increased traffic the leading lines of rail
way tends to stimulate purchases for investment by
parties who are in position to what's going on
But, in presence of such overwhelming events as
those which transpirng at the seat of war, the
market naturally follows the lead of the news from
the armies, and when there is none business flags
At the first board to-day the only changes were
an advance of in Mssouris, "A in Pacific Mail
and "a in Michigan Southern old. All the other
speculative shares were firm at yesterday g last
prices. At the second board the market received
fresh strength from an increase OF outside
orders to buy Erie, the Michigan shares and
few other speculative stocks. Michigan
Central advanced %, Erie "A, and other stocks
in proportion. The statement in this morn
ng's HERALD in regard to the Erie seems
to have opened the eyes Of the public to the posi-
ton of this property and it is not unlikely that we
may again ere long see it the favorite football of
bulls and bears At the close the market was
firm. The last quotations were as follows:-United
States 6's, registered, 1881, 92a4 q; do. 6's,
coupon, 1881, 925S "a; do. SIS, coupon, 1874 S4%
s51S; Indiana SIS, n q IS; Virginia SIS, 6Oa4
62; Tennessee 6s, 60H "a; Missouri 6s, 521s
SO; Pacific Mail, 93T "a; New York Central, !
s35a "a; Erie, 35 "A; do. preferred, 59]s
d; Hudson River, 371S -; Harlem, 1878 %;
do. preferred, 80 "a; Reading, 41A 42H Michi-
gan Central, 55Ss o "a; Michigan Southern and
Northern Indiana, "a a; do. guaranteed, 4s14
70; Panama, III ll0 Illinois Central, 64sS n;
Gaena and Chicago, 6s14 a; Cleveland and
Toledo, 465G o "a; Chicago and Rock Island, 561I
a; Chicago Burlington and Quincy, GA a 65; Mil
waukee and Prairie du Chen, 20A %; Cleve-
land, Columbus and Cincinnati, 100 q ITO; New
York Central rs of 1876, 1927 1887; Erie
third mortgage bonds, % a "a; Michigan Central
s's, first mortgage, 1927 a 103; Illinois Central
bonds rs, SO a 94; gold, lO2 Il. After the
second board the market was more active than
usual and fair amount Of business was done,
without change in price.
In the House of Representatives at Washington
to-day the new bill authorizing purchases of gold
| by the Treasury Department was passed. and an
| amendment added rendering the legal tender
Treasury notes receivable for duties. We presume
| that this refers merely to the demand notes al
ready aloat, and that it is not designed to render
| the new notes to be issued receivable for duties.
| The object of receiving the former at the
| Custom House is to convert them into notes
| issued under the act Of February. The
| policy Of declaring the legal tender notes not
| receivable for duties is warmly debated in
financial circles. On one side, it is said that by
refusing to receive them government deliberately
| dscredts its own paper. On the other hand, It is
urged that if the duties were receivable in paper,
while the interest was payable in coin, Mr.. Chase
would have to enter the market every year as q
buyer of $40 900 900 in coin, and this would tend
to maintain the premium on the precious metal.
The new Treasury notes will be receivable in pay
ment of direct taxes and this will always prevent
any great difference in value ruling between them
and gold.
"A meeting of bank officers held to-day at the
| Clearing House, and it was resolved to deposit
twenty millions of demand notes with the Sub
Treasurer, at five per cent interest, and to effect
exchanges hereafter with ub-Treasurer's certif-
| Gates Hitherto the banks have effected exchanges
by means of gold certificates, issued by the Bank
of America, and for the past year, with loan cer-
\ xy,c Dahl
the basis of government bonds and Treasury notes.
As meetings at the Clearing House are always held
| with closed DOORS and admission not granted to
the representatives Of the public, we are unable to
| state what else transpired at the meeting We
| hear, however, that some persons were in favor
| of deposting Treasury notes with the Bank of New
York instead of the Sub -Treasury-on what ground
| we are unable to state. We hear likewise that
| there was some talk ofresuming specie payments
| whether for one week or two we did not learn.
The business of the Sub Treasury was as fol-
lows to-day
For customs. <V1oVO w
Payments '.'..'.'.....'.. .'...'..'.. o,seS ~
Balance J,I4o o9
The exchanges at the Bank Clearing House this
morning were $4,000 ,5s7 3s, and the balances
1914 ,OO5 81.
| The deposits Of demand notes with Mr.. Cisco for
| five per cent certificates average about 5000 900
| per day. The aggregate is about "a 100000.
Il