, 1862-01-29
FINANCIAL AND Com I1ERCiaL.
N1ONETAKV.

TuEapAYE.EaING, Jan. u. 1862.
Tie snow storm Of yesterday was .ucc> ?cded TO-
dag by warm rain. rendering the streets horrible
and neutrality-suspicious. generally. The Pork tradc
however. goes by the force Of l1nbir 4: shis
rsn, and some paper was done Tor 1hosc engaged
in that. but generally business at the b1aas has
been excessively dull With the low rates O. New
York exchange that have ruled for 1nonths pagt,
Tie banks have not had such profits t. rejoice oycr
as were realized few months or Yeas since; but
busincss is really better for them. fcE It is no,
done on safc basis. Enormous sulns wero cup
posed to be realized it Is true, but in the death Of
'stump tail they vanished into the air. andmany
Of thosc who thought they had made the most
found themselves the poorest.
Most Of the banks report ample means for more
c2tendcd accommodations than they lind the on
portunities to give. AL real business paper is
readily taken at legal rates. while is always the
case, spectators find wase to pay speculative pri
ccs. The banks, however, arc abundant1y able to
accommodate the real trade Of the city, and nearly
al Of them are well satisfied with 10 per cent in
tercst, and low rate Of exchange, 60 long as the
real base Of transactions remains good
New York exchange is reported a shade more
active by come OF the tanks, but the market is full
ly supplied at former figures, VIZ: par buying. and
x Of per cent. as the selling rate.
Currency was rather close yesterday, but it is
more plenty to-day, a fact TINT is due perhaps as
much to the dulluess in business circles as to ANY,
thing else.
Gold nominal and very little change: hands at
quotations viz: buying 2G21l selling ex@;3 per
cent, the latter for retail lots.
TEE TREASURY NorE B111-Our readers need
not be told that We have from the first advocated
the issue Of Treasury Notes to meet the pressing
necessities Of the Government, but VIC hare stead.
liz urged that bank bills should be taxed In a
steadily increasing ratio to force them to disap-
pear and make room for tho isEues OF the Govern
ment. This policy is essential in order to save
the country from an over issue Of ''promises to
pay The 1ational Lataligenser makes another
point Of great importance Thesafety yalnc against
IN issue is, to be in its view Of the case the
ability Of holders to convert them into twenty
| year Government bonds, and adds the Iattlli9tn-
| Ger:
The bill, however, is silent upon one very i'm.
portant point at least point Of whose importance
strongly and which IL ha been
For it still remains to ask II In what is the in.
terest on the bonds issued under the provisions
this Het to be P9aee" T. god a9a syS'
rte tpae4 easy es ass7fSs R IL e sm sse1
Predict &C., bo i a and ab4oad {he sre i
Of the bonds will be largely dependent on the 30
luton Of this question. Make the interest o
these bonds payable in gold, and they will have
real and permanent basis in public confidence
In the absGR<c OF such basis, the whole schcm
will be exposed to dangerous fluctuations, tina
| mnst greatly impair the credit OF the Goycrnmen
ard enhance the expenses Of war.
It is to he hoped the Committee having the bl]
in charge will correct 20 radical and dangerous
defect by well guarded provisions.
M1LwAuKEE.-Thc Sentinel Of this mcrnin
Gays:
| Monetary afiirs remain quiet and without an
noticeable change; Money continues close, an
business more or less restricted on that accoun
Ezchange is plenty: and current rates hardly ELL
F | tanned. We quote:
Buying. Selling
New York Exchange 20 4 prem. prel
Gold. @sE prem. 3@31: prem
Treasury Notes....-.~ Il prem. l prem
There is nothing doing in gold. Ne raise Oh
| quotations because rates have advanced at Ne
York.