The New York herald., 1862-02-19
FINANCIAL AND CONNER clAL.
TUESDAY. Feb. l8-6. p.


TUESDAY, Feb. 1876. p. NJ.
The following is q comparative statement of the
exports from the port of NewYor to foreign ports
for the week ending February l6 and since Janu'
airy L. 900.
For the week ... 81 .2s9 s4s 2,27seo2 2,sss,l2s
Previously reported. S,7S3,SA l6o96,eo' le'Si4,2'o
Since January 1. $lO,o lSs lS,s75,sea lSiss,4Os
This is the best export return we have had for
some weeks. The leading items are, as usual, corn
wheat, -four and provisions. We notice small
shipment of cotton to Liverpool, and rather heavy
shipment OF tobacco to Gibraltar. If we once
begin to open the ports ia the Southern States we
shall soon have plenty of Southern produce to send
abroad. Military successes on our side will soon
develope Union sentiment among the rebels.
The money market is fairly easy at 6 per cent.
The demand from the brokers is more lively than
it was some time since, but they get all they want
at per cent, and sometimes at s. Business paper
is very scarce; very choice names pass at 6 q
6H per cent; ordinary good business paper goes
at and upwards. Seven-thirty Treasury notes
are active at 80 a HaH.
Exchange fell of to-day; the leading drawers
reduced their rate to Hay for sterling and 4.92H
9S5 for francs; but the bills of these same houses
were sold in second hands at ll4Z and 4.S5, and
at the close the best bid was ia and 4971s. The
report in Philadelphia paper that Savannah had
really fallen had tendency to depress the market.
If Savannah falls there will certainly be supply
of cotton bills in this market before thirty days
elapse. Gold was rather better to-day. At the
first board there were sales on time at 1887, and
l03% was bid afterwards; later in the day it sold
at 1881. If Congress will mature the Tax bill
gold will soon fall to or near par It is maintained
at premium simply through the efforts of specu-
lators, aided by some of our banks and bankers.
The spectators on the Stock Exchange attempt
ed to realize profits to-day, and the market gave
way in consequence. At the first board prices
were pretty well maintained on State stocks; but
the leading speculative shares, New York Central.
Erie, Erie preferred, Pacific Mail, Toledo and Rock
Island were all "A q "a lower. The prospect of the
opening of the Mississippi at no very distant date
operates injuriously on the price of the stocks
of the roads traversing Illinois from west to east,
as such an event would divert from them part
Of their present traffic. It benefits Illinois Central
from the same reason and that stock has already
risen per cent since the recent decline. Toledo
is hurt by the news that the recent arrangement
with connecting lines is not likely to be carried
fallen impaired fresh courage to the bulls; but
soon afterward doubts thrown upon the authen-
ticity of the story led to a reaction, which was
further assisted by dispatches from Washington
intimatng that it was doubtful whether the re-
cent successes would not obviate the necessity
of passing the Treasury Note bill. At the second
board the whole market was lower. It closed
steady, the following being the last quotations.
United States 6's. registered 1881, 80 9O14; do.
6's. coupon, 1881, 89T 90 do. SIS, coupon, 1874.
1879 1871; Indiana SIS, 75s-; Virginia SIS, 56a-;
Tennessee 6's, IS 55H: North Carolina 6's. 65Hh.
a; Missouri 6's, 471L a Az; Pacific Mail "a IS;
New York Central, s21I s2ss; Erie, 3414 sax;
do. preferred, 5s'4 SO; Hudson River, 3ss ss1s;
Harlem, l2% lax; do. preferred, 3O1< a 3O1Is;
Reading. 42H q 421I; Michigan Central, 531.
53H; Michigan Southern and Northern Indiana,
22N . 22HS; do. guaranteed, 4314 A; Panama,
llsH 49, Illinois Central, 62Z 625<; Calena
and Chicago, 6s1z 6s1. Cleveland and Toledo,
44N Q ~; Chicago and Rock Island, SAX 54,4;
Chicago, Burlington and Quincy, 621I q 631s: Mil
waukee and Prairie du Chen, 20 a.; Cleveland Co.
lumbus and Cincinnati, l07 l07L; New York
central rs, 1876, los 1851; Erie third mortgage
bonds, 96 q 81; Michigan Central s's. first mort
gage 1ol 1917; Illinois Central bonds, Is 90 q
921.; gold, 1887 1887.
\. Public opinion is growing more and more clam
orous daily at the non-action Of Congress on the
subject of taxation. The Sub Committeelof Ways
and Means, of which Mr.. Morrill,, of Vermont, is
chairman. are inaicting fatal injury on the best
interests of the country by postponng their report
These gentlemen must remember that the passage
of the Treasury Note bill will aggravate instead OF
relieving the evils of the crisis IL il be not in
stantly followed by an adequate tax bill. Mr.
Chase already owes nearly the whole of the
$3.50 900 900 Of ready money which he would OBJ
tain by the Treasury No,e bill. As fast as the
| engravers can supply him with the notes he viii
pay them out, and by the time the last batcl
reaches him the Treasury will again be empty
Congress must bear in mind that after q resort Il
paper money, made legal tender, the public credi
will be far more sensitive than before. If III,
Treasury is allowed 70 remain empty, and creditor
are compelled to wait for their money, after gov
eminent has issued $50, 900, 900 of paper money
the depreciation of public securities will be
enormous, and the public credit will be irretreva
| bly, shaken.
The business of the sub.Treasury was as follows
to-day
Receipts :......'.'. EOS ,ees ol
-rof customs ........ .............. 2A2, 900 0C
faymenu .................. ,196,81o 1s
Balance. 5167,6 SIT 81
The statements of the Philadelphia banks for the
last two weeks compare as follows
| F1 TO- Fec. II.
fSsos aasS1oo % aasss.sss Dec .ssss.,ss
Due from other ID. sssssi % Hss So So
Deposits -. ... 10 O32 s05 1852 Is2 Dsc al0 l0a