Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-10-30
FINANCIAL AND COMMERCIAL.

RICHMOND, Thursday, Oct. 29, 1868.
The report of Messrs. Lancaster Il Cos alc-
ton sale of bonds aud stocks yesterday renders it un
necessary to publish our usual weekly review of the
market. The only prominent securities not embraced
in that sale are the cotton loan ald fifteen million loan
bonds The former, we learn continues in fair request
at 80 and int the price fixed by the Secretary of the
Treasury We are disposed to believe that the day is
not IA distant when capitalists will gladly embrace the
privilege of buying these bonds at 90 premium. Bank
stocks do not ouoyant as they were last week.
Tbs market has doubtless been afflicted by the PROPOSE
ton pending in the Legislature to sell the States int
rest in the several old banks which, if enacted into
law will Of throw large amount of bank shares
in the market The Trading Companies stocks are
looking up probably from appreciation Of the assets
| which consists largely of cotton.
Toe premium for specie prevailing for some weeks
past ia maintained though the demand is represented
be inactive. The Legislature should no longer delay
its action upon the bill to suppress the tra in specie
If it is the purpose of the body to drive the traffic into
he hands of unlicensed brokers' who will conduct their
business in garrets aud cellars let them pass the bill.
If they do not intend to interfere with the traffic. let
them dispose OF the bill by an indefinite postponement
so that the Apprehension of s passage, which has
tendency to keep up the premium, may be removed.
At the same time the traffic in Yankee "ereenbacAs"
should be suppressed by the most penalties. Why
this hiss not bsen done heretofore, unable to
derstand. bill to effect the beet should be passed
at once and resolution adopted commanding the same
action to other States.
We subjoin list of the current prices of
merchandise, etc., in this city;
Cotton Yarns ceiling az Sl5219 per pad according
to sizes.
Country Produce is coming in very slowly. We
quote apples at s45s5O per sb; onions s65a75 per bD
BEAM SIS per bush Irish potatoes, So 5Os6 90 per
bush sweet do IS to per BUSH peanuts, $l2alS per
bush.
Flour is selling at all price, from $50 TO 80 per Dbl
There absolute scarcity and buyers are left to the
mercy OF sellss Corn meal is also very scarce and we
omit quotations
Forage-Hay, in bulk, $l2 Per 100 lbs.
GraiH-No wheat scarcely any corn, small stock
OF oats and rye. Quotations nOmiral.
Groceries-Brown sugar, 81 5O42 75-frmer Sor-
ghum moasses, S9alO per ga; coffee IS ,5OalO; tea,
$40 to lS rice rs ctsi candles, So 1854; sa 45a55
cts; Euglish soda; 50 75as3.
H5des.-Grsen sailed, 81 So dry do, 81 5Oa8.
Lsather.-SOle, s6a7 pes Id; UPPER 81 TO g. harness,
S. so to 80.
Liquors dull at $50 to IS for corn whisky; s8s to 50
for old rye s35 40 for apple brandy $50 to 30 for
rum.
Provisions Ocarcs. Bacon, 81 5Ol2 60 for hog round
lard s2a2 10; cheese s2a2 3D. Fresh beef 5Oa75 cts
per 10, by the quarter
Tobacco steady at the iollOSing quotations, kindly
furnished by Capt. John NJ. Sheppard, Jr: Inferior
lugs Sl7a2O; good, 254SO bright smoking, S5s5O; IT,
eriOr leaf, S5l45; good, 5Oa6O; fine mfg 10 to 1885,
good and fne f lgsh, 90 TO 80.
A writer in the Western IN. c. Democrat
suggests mode of financial relief which appears to be
more general and equitable in all It's bearings and more
effective than any other yet presented. TIE require
ment OF the payment Of half OF taxes in coupons
would sary compel funding and sustain the value
Of the bonds The plan is stated az follows
Let Congress authorize the Secretary of the Treasury
to issue billion Of six per centum bonds, payable
al q fixed and certain perod-Gay 80 years from date
with coupons payable semiannualy, and TO be forever
exempt from taxation. Let Congress also leUy tar TO
yield about one hpodred and twenty million Of dollars,
half to be paid in Confederate notes. the other ha
in specie. In lien Of the specie rscsiUe the coupons Of
these bonds. Rep al the object ousbie legislation on the
subject OF our currency; make all notes and bonds of all
is ues and dates uDdabe in these six per centum bonds
and the people will soon restore the currency. What
will be the effect Every tax payer at once Jmmences
to fond hs end bonds in these skies ~ order TO
get the coupons Nth Which to pay has tazss Every
payer becomes agent to 81 the notes and bonds
heretofore issued uud in this Government security.
With this legislation, the $780, 900 600 of Treasury
notes in circulation, and most oil the $500 100000 Of
bands issued would be absorbed by tie six per cent
bo1ds leaving balance Of over 5000 100000 OF the
bonds to provide for the future wants of the Govern
ment. Thus the circulation c;uld 10 a few weeks be
reduced the wants and necessities of the
try, and could be kept by udicous management of
the Treasury Department This would the
morsees spirit Of speculation and hoardpg The prices
Of all articles within afew weeks would decline according
the Law ofsupply aud demand to the great relief Of
the people and the Cove nment. Tie future expenses
of the Government would be greatly reduced, its vgor
and strength in prosecuting the much increased,
wi a certainty that s pecunSry faith could never be
assaed doubted while its debt was thus distributed
equally among its tax payers aud supporters