The New York herald., 1863-10-19
FINANCIAL AND COMMERCIAL

SUNDAY, Oct. IL, 1868.
Nossy was active last week. partly in conse-
quesnc Of the absorption caused by the active con.
versGa Of currcncy into sc.twenty bonds and part
| ly blythe wants of the West. large amounts OF
prodase are coa,ing forward from the West for
| sale An shipment at the high prices established
by the high premipm on gad and the conseqN Nence
is tiatSdlls the East in Ia tho West
eities, and currently scarce. This OF co, use.
will rakacdy itself in the course of day or wo.
Some Maairy for money has likewise arisen fire. VII
the changes in the banking system which are tax \
ing place IN the rural districts. Quite number O.
banks Organized under State laws are reorganzing
under Mr.. Chase s act, and have already deposted
with the Comptroller Of the Currency five.
twenty bonts TO the extent Of their clrcula.
lion, but hate not yet received currency Ia ex.
change Thia delay, who's seems 10 De character.
Ntc Of all the subordinate branches Of the Treasu
ry Department places these banks for the time.
int position Of borrowers. These various causes /
led last week 70 pretty active inquiry for money
ate per cent On call. II needs bat little dg. I
comment 10 perceive that they are temporary In
their nature and effect. so long a. the war lasts /
and the expense of continues 10 be paid by issues
Of papef-not redeemablc in gold-the general Z
course OF the money market must be towards In. I
creased ease, with occasional paroxysms Of strin.
gency.
Gold rose last week MS high "a 1877, closing last
evening at li9. Exchange followed gold % I51,
nt one time; last evening the quotation was Isl n
lC5 for bankers bills. Tie fall from 157 90 ll9
was due mainly 90 reaction In the speculative
More people had bought gold a, TIE
extreme advance than there were freah buyers 20
succeed them. That gold is scarce, and that tie
supply IL not equal W the demand for export and
for duties, Ia generally, admitted. But ihi. al.
mission presumeS general unwingness On the
part OF the banks, Their special deposl,ora and
tho individuals who have boarded gold IN various
quarters, 10 part with their specie. /, {. now
obvious 20 all but the most ncorrigbo copper
heads that the government Of the United States
IL going 10 perscyere In The work of Euppreftng
the rebellion until that work 10 complete. II may
be completed within year; II ms, take three
years. But whatever time may be required will be ,
afforded. Under these circumstances the bonds of :
lhe United States, bearing per cent interest. !
payable In gold and, II not running for twenty .
years, payable In nyc years In gold, are The best
Investment that can be made Wy any one who fears
he depreciation of The currency. The preson,
.ustomE revenue secures the interest on a bonded
ieb, Of nearly 81 300 900 900 which "a an outside
estimate for the national debt IA December, iscl,
r the war lasts 40 long. Psrsons who are afraid
hat gold will rise 10 200 and currency prices will
ollow the example set q, Richmond can secure
Agains, poyeriy by investing their !
means In United States stocks, on which the In
oms 10 invariably paid In coin. European In. .
cstors arc setting good example 10 our own :
,eople In this respect. Every steamer takes on, !
considerable parcels % fve.,wsniy bonds, and tho
Germans and Duiehrnsn who are investing their !
money In these securities win hna. within few
ears at latest that they have made tho bos, ope. ,
alton Ia which they eyer lad 40 oyporianiiy of q
mbarking.
The following table viii show shs prices of stocks