The New York herald., 1862-02-06

SHeV, 66Z Do; dudeon RIVER, IVA "a AAaa'
JeD, l23 o %; do. preferred, 2sH 80; hgssdhg,
So1a x; Michigan Central, AsA &c Michigan
esuthern and Northern Indianas al% H 20.
guaranteed, 4laH; Panama. ila ia; Illinois
Central, 81 81; Galena apI Chicago, o6A 81;
Cleveland and Toledo, ~ ~; Chicago and Rock
Island, 6s14 Il; Chicago, Burlington and Quincy,
sls% "a; Milw9ukes and Prairie du Chen, 1917 a
2o1I; Cleveland, Columbus and Cincinnati, los q
l0e; New York Central 7's, 1876, 102 o =; Erie
G third mortgage bonds, 93H o.; Michigan Central
S's, first mortgage, 80 100; Illinois Central bonds
O ~, % as3.
The inexcusable dilatoriness Of Congress in le
sislatng for the financial crisis will very soon de-
yelve upon the Treasury Department choice be-
tween leaving our armies unpaid or issuing paper
money without previous authority from Congress
II is understood that the floating debt Of the 60
veYnment at the present time amounts TO some
thing like $4,000 000 and it is being increased al
the rate of million or two per day. II Congress
continues to waste time in listening to the common
places of ignorant members, like Messrs. Morrill,
and Conkling, it may become necessity for Mr..
Chase to issue his paper precisely az though the
measures he has asked for had been passed Since
the war broke out the public safety on more than
one occasion hascompelled the President to assume
the responsibility of transcending the constitution.
Allimts of his authority and in every instance the
people have justified and applauded the act. In
this very financial matter, both the government
and the banks arc now pursuing policy in direct
violation of law, but which has been forced upon
them by imperous necessity. Though federal
law requires the United States to pay their debts
in coin, Mr.. Chase does not pretend to
do 80, but pays in paper; and though
the constitution Of the State of New York
not only prohibits suspensions Of specie
payments by banks, but forbids any authorization
Of such measure by the Legislature, yet it is
nevertheless, fact that our banks have suspended
specie payments, and are now in state Of sus-
pension. Laws, in truth, always bend to the gu
perior logic of events 1t is idle to expect laws to
be obeyed in times of great public peril when
such obedience would involve general injury. The
people of the United States at this moment have
one, and only one, object in view, and that is the
suppression of the rebellion. Whatever stands in
the way of the attainment of that object-be it
law be it State constitution or be it constitutional
restriction-will 90 to the wall and be trampled
under foot. And, as the great difficulty which at
present embarrasses the government in the task Of
suppressing the rebellion is the money question,
ne people will hold the Executive harmless if it
choose to take the responsibility of acting in this
money matter as the exigency requires, without
regard to the previous sanction of Congress. The
army cannot wait to be paid; honest men, who have
sold goods to government, cannot wait until
factious members of Congress have ventilated their
financial inexperience. By and by, when the rebel
lion is put down, the people may have patience to
listen to and refute the reasoning Of theoretical
hnanciers. There is no time now for anything of
the kind. It would be far better for the country,
and far more agreeable to the wishes of the people
at large, for Mr.. Chase to begin at once to issue
his paper, and pay his debts in it, trusting to
future ratification Of his acts by Congress, rather
Than protract the present fatal period of delay,
inaction and uncert inty by awaiting the issue Of
idle and interminable debates in Congress
The Sub Treasurer at this point received fur
ther supply of United States notes from Washing
ton this morning. He has paid to the banks the
whole of the 7.30 notes which due to them, and
about 50 900 900 Of the per cent bonds. Some of
the banks are receiving United States notes in mo-
derate amounts on deposit; others refuse them.
We notice, by an advertisement in another column.
that the banking house of Samuel Hallett & Co.
agree to take these notes on deposit as money
from their customers. We presume that this ex-
ample will be followed by other private bankers,
and that, il the banks persevere in rejecting them,
the new business created by the war will pass
into the hands Of the private banking houses. The
business Of the sub.Treasury to-day was as fol-
fows:-- ..
Receipts: .2l2,1N y
-Eor customs.::.. .................. 100 eco 90
I'm account OF toan ........... 10 OOO 20
Payments, inclung redeemed p Ct notes. o2o9l6 oa
Balance. pal ,l39 9S
We have received from Mr.. Albert H. Nicolay,
auctoneer and stock broker, his usual annual COM
plete abstract Of the official returns Of all the insu
rance companies, as made to the Insurance De-
partment of the State Of New York, and furnished
to him by said department, showing the capital,
profit, losses, surplus and dividends during the
year 1861, and also other useful information.
Printed copies can be obtained, free Of charge,
Mr.. Nicolay's office, No. 50 William street.
BY the Nova Scotian, at Portland, we have ad-
vices from England to the Gath of January The
latest price of consols was 922 90. The sales of
cotton at Liverpool for four days 900 bales
the market closing irregular and lower. Bread
stuns had an upward tendency.
Stock Exchange.
"WEDNESDAY, Fob. 0, 1862.
$1,000 reg ss 90 iss s NYeenRR ss
5000 . S,s,;7i, cou 1sI 100 do. do. bco SsJs |
2o4o Ohio os, 1860. 9S 10 Erie RR pref. SO
5000 III cou BIDS 1862 50 so do. 49,. 55L |
1000 III cou BIDS 1877 80i4 $50 Hud River RR. 3s1
10000 Tenn 6s, '90. 43 $50 Harlem RR. BIO 1879 |
5000 Carolina 6s. 62x $50 do......... j2I |
5000 Cal large bars so 90 Harlem RR pref. 2sa
5000 5000 Cen es.. SsS NHaveO&iIariRR 1861
1000 ErieRR4th mbs 81 400 Reading RR. 80. 4Ol. |
5000 do. ..b3o 8lx 175 Mich Central RR. 4sX |
1000 ErieRR5thm bs 70 so do. ...b10 4sI |