The New York herald., 1862-11-28

planatoSy article on the condition Of tie 6eass
debt Of Michigan which 10 pertinent to the nsw
loan, in substitution Of . maturing one. 70 BE-
awarded at the ONCE Of Aessrs. whitshouss, Son
b Morrison, in this city, on Monday next
We would call the attention Of financial the potc
gan for bdsor S24 900 per cent ave year bonds
S22s 900 Of sx per cent ten year bosds sls6Oo d sx
cent ssn Go % q s per Ss.
bids are 70 be sent in TO Messrs B. whehouse, Son b
Morrison, No u William street. New G York, on or before
OF the State Of Michigan and endorsed "Bids for Stats
Bonds Of Michigan"
bonds from the fact that this is renewal OF
portion Of the State debt The entire debt OF the State
the LIST Of July last as fellows, viz
Adjusted bonds per cents due in 1863. 81 ,iSb W
Ful paid hvo million loan, per cents, due
Par. paid avo million ioan, when funded idae
In is63) win be Observation-Disclosures. s3,3l4 %,
Renewal loan, per cents due is7s..... 2lo,ooo o.
Temporary loan per cents, due in 1878. $4,000 0c
Internal Improvement warrant bonds, on DC
Saut Canal bonds per cents due in 1870. 100 900 o.
War loan bonds per cent due in 1886. COO, 800 90
mand. ..,'. . ~ $500 81,
Total 81 s7o ,e4l 81
Snoe that time the State has commenced redeemns
the war debt which redoenabe the pleasure OF tho
State. About $40 900 Of tins already been paid At
the last regular session of the Legislature the Treasurer
authorized to iasue bonds the old TO such
persons desired 10 exchange and II not exchanged
sell the bonds and redeem the old Under this
law all but SS73 900 have already been exchanged and
the present proposals. for the sale Of the balance
Hence the fact that some per and SIX
per cent bonds some run for five, ten, fifteen
and some twenty years. -Ma
We need not reassure those having money to invest
that consider the bonds of the State OF Michigan the
very best security possible II any one doubted this il
would only be necessary TO refer TO the following table Of
the revenues Of this sate:-
Ysor. Rate of 7dnatoa. Ttal
1872 ......2 mills per dollar So2 l4s %
90 100 mills per dollar. 1o6 s64 Y
1862 ITO mills pet dollar 500 l66 90
There is NO probability Of our State debt being in
the whole war loan will be paid the next
two years. leaving actual debt TO the public at rac
ton over g 900 ooo This s nothing for state which
ostatSwas valued At $262 750 The bonds offered
ouehs 70 bring large premium in tho Market and We
have doubt they will those who have money TO N
vest will examine into the security The finances Of the
State have been managed with very great ability by
State Treasurer and as long as he controls th
fear that the credit Of the State viii DO suffered TO
depreciate.
VT. Coleman 4 Co.'s San Francisco circular
Of October 81, received by the Ariel, reports
Receipts Of from the interior and North coost
since last report have been little short Of 900 0o
which S16S 600 coin, aud Of the remainder,
the mint has taken nearly 81 900 900, leaving add
ton $500 600 any surplus remaining from
last steamer day. There fair gold bars Offer
Ing. and some inquiry. Sales have been made at $780,
and quote $40 800 the range Of prices but holders
expect $50 to morrow Silver remains at quotations,
1L premium 3 discount sales of about $40 900 Ophr
bars reported at par to u premium.
Exchange on the Atlantic cities will rule generally
lower for this steamer than for the last, though we
TO morrow The figures talked Of Is 20 cens
discount, equivalent premium on goldsubject, q
course any change suggested by egraphc dispatches
at the latest moment Sterling is unchanged
Legal tenders quoabe TO day at "a is per cent dis
count but with the approach Of steamer day the oergn
increase. ane the market closed rather heavy
Mexican dollars, . O 10 per cent premium