The New York herald., 1862-01-31

continued, and the stock rose a. and the sinking
fund bonds TX. Pacific Mail advanced q, Erie e,
preferred Il, Michigan Southern "a, guaranteed a,
Rock Island sS, Reading u. On the other hand
Central fell OF "a, Michigan Central "a, Illinois
Central a, Galena 4, Milwaukee and Prairie du
Chen "a. After the board the market was dull
and heavy. At the second board stocks were
rather more active, without material change
in prices. The market closed steady, the
following being the last quotations:-U United
States 6's, registered, 1881, SsH ssz; do.
6's, coupon, 1881, s9% s9z; do. SIS, coupon,
1874, 70 80; Indiana 5's, rs rs; Virginia
6's, 81 a So; Tennessee 6's, 44H As; North Caro-.
lima 6's, 81 62 Missouri 6's, 429S 421I; Pacific
Mail, 80 q 991<; New York Central s3ss s31l;
Erie, 34A a IS; do. preferred, SIX 5S1s; Hud-
son River, SsH 80; Harlem, l2A Is; do. pre-
ferred, so% slH; Reading, az AZ; Michi-
gan Central, 52H q 52Z; Michigan Southern
and Northern Indiana, 2l2< 2l11; do. guaran-
teed, 4lsfa 421S; Panama, ll2H 1l3A; Illinois
Central, 6lN q 6l2<; Galena and Chicago, 67H
a 67s<; Cleveland and Toledo, 421S 42114; Chicago
ton and Quincy, s21< a 621Is; Mlwaukes and Prairie
du Chen, 20s@ 2lN; Cleveland, Columbus and
Cincinnati, lO4 l06; New York Central rs, 1876,
gan Central 8's, first mortgage, 99H 1907; nli
nois Central bonds, rs, SO a95.
Some little uneasiness was created in monetary
circles to-day by rumor to the effect that Con-
gross about to lay over the Treasury Note bill
for the present, and to authorize Mr. Chase to pay
his debts in six per cent bonds. OF course there
| was no truth in the story. There is no reason to
believe that the House Committee of Ways and
Means consists Of traitors; and nothing but rank
treason could explain the postponement of the
Treasury Note, ,bill at the present juncture. No
thing short of Mr. Spauldings bill, authorizing the
issue Of 100000 900 more Treasury notes,
| making them. legal tender and convert-
| ble into six per cent stock, will enable
| the government to carry on the war. To
oppose that measure, or to endeayor to delay
its passage, is simply to work in the interest of the
rebels. Both Mr.. Chase and the committee have
been greatly annoyed by the visits of volunteer
| advisers-bankers and merchants from hcre--who
have strenuousy labored to defeat the only scheme
Of finance which can afford substantial relief to the
Treasury. It is to be hoped that the motives of
these persons are understood by this time. Under
cover Of loud protestations of patriotism, they
have no other object in view than to depreciate
| government securities thirty, forty and fifty per
cent, in order that they may buy them and make
fortunes at the public expense. That this
would be the inevitable result of heavy
issue of government securities not created legal
tender, none of Mr.. Chase's selfconstituted moni-
| tors will dare to dispute. Yet 80 blind has been
their greed, and 80 boundless their confidence in
| the public patience, that many Of them have in
! tested the antechambers of the Committee fways
and Means and the Treasury Department for
month at least clamoring for usurious profits and,
| with hands already dripping with plunder secured
| on army and navy contracts, have dcafened Mr..
| Chase and the committee with appeals for the
privilege Of making more money out Of the ruin Of
| the country. 1t is time that this indecent per-
| formance should cease. There is limit to public
| patience and some of these corsairs of finance
may discover that they have reached it. The fate
| Of Ouvrard should warn them to pause. Mean
| while, we trust that Congress will not unnecessa-
| rly lose an hour in passing Mr.. Spauldipgs bill,
| with the amendment requiring the government TO
pay the interest its entire debt in specie It is
also absolutely essential to the preservation of the
public credit that time should be lost in passing
thorough tax bill. Every hour of delay encou
| RACES the enemies Of our credit to reteratc their
| spteful assertions that the people Of the United
States will not bear taxation. Congress must take
| for granted that there will be errors in their new
| scheme OF taxation. These can be remedied here
after What is necessary now is first that Mr..
Chase should be enabled to pay his debts without
running the public credit, and, secondly, that the
\ whole world should see that we are willing and
| anxious to bear the burthen of the war sqnarely
| on our shoulders and to raise by direct taxation
so large proportion of our total expenditure that
The balance shall not press unduly on our national
| credit.
| The Assistant Treasurer received another million
dollars Of coupon stock from Washington this
morning. batch OF 7.30 Treasury notes, also, is
on the way, which, together with the two millions
of stock, will be handed over to the banks when
they apply for them. The remaining s, 500 OOO
due the government will not be called for till next
| week. The business of the sub-Treasury to-day
| was as follows:--
Receipts f.9c 40 81
--iof customs. 900 "
--on sccOhbt oi io,odi
Payments, including redeemed pr CT notes 20 ..49
Balance Z,of Jso4 ~
The following table shows the amount Of the
total subscription TO the government loan by the
banks in each Of the three cities, the amount Of
each subscription paid into the Sub-Treasury, the
amount returned TO the banks from private sub
scriptions and the amount still due the govern
| ,pcpt from the bauks.-