The New York herald., 1863-02-17

23,s37
IS2,62l

|
This statement shows that the movement re-
fected in the previous return has beer reversed,
and that the banks are reducing their loans, while
their deposits are on the increase. The fact will
help to account for the increase IN the supply OF
money in the street Notwithstanding the efforts
made by many of the large bsnks to call in their
circulation, it does not seem to decrease
materially. Brokers and others have been buying
1T up. probably with view to ascertain If they
cannot force the banks to redeem in gold; but
| we have reason to believe that the scheme has
| been thoroughly examined, and will be found un
| productive. The gold in the bank vaults belongs
| to the depositors, and not to the billholders.
There was better feeling in financial circles to-
day, and money was freely offered at six per cent
on call. We heard of line of first class mercan-
! tile paper selling at 5H per cent Debt certi-
fcates improved to 9614 ss. People seem to
realize that, whatever policy is finally adopted at
Washington it must be policy which keeps
money easy, and makes financial affairs comfort
| able generally, else the Secretary will find it
impossible to negotiate loans at any price. Any
legislative administrative measures which
caused general commercial suffering would make
the war so unpopular that it could not be prose-
cuted for any length of time.
Gold took an upward start to-day. After open
ing at 1851, il rose steadily to 1874 then reacted
to l574, sold in the afternoon at l571 and closed
that bid No reason was generally agreed upon
TO account for the sudden advance. In some
quarters it was ascrbed to French complications;
in Others to the inevitable forthcoming issues Of
paper. Exchange started upward with gold and
was quoted l73 Ii, without much business. The
delay which attends military operations may
have good deal to do with the advance in gold
and bills. "Net & -
There was quite revival Of speculation in
stocks to-day, based, no doubt, upon the general
discovery that, whatever financial policy Con-
gress may finally resolve to adopt, it will amount
in fact to further issues Of paper money. AT the
regular board the amount Of commission orders to
buy this morning were larger than for Some days
past. Governments led the advance, both the
coupon and registered skies Of 1881 being quoted
2ne per ssal ssgssr siaIs sIsaks ysfs dria, and
railroad bonds better. All the active railway
shares in good demand at an advance AT
the morning board Central rose y, Erie u, Erie
preferred a. Hudson 1 x, Harlem q, Harlem pre-
ferred IA, Michigan Central 1, Southern. old "a
guaranteed 4, Pittsburg ~, Galena q, To-
ledo /, Rock Island "a, Fort Wayne g.
Iefre Haite preferred "a. Az the cioSf tne
feeling was very buoyant. At the public
board at one p. NJ. the market was strong. Pitts
burg a. Southern old n, Toledo a. Erie a, |
Harlem H. The public are moving as yet with |
caution, as the variable character Of the market
during the past month has rather discouraged |
them. But should the present upward movement
continue steady for two or three days we should
probably witness fresh burst of wild speculation
| ,.,. lSnD ln,x
At the second session Of the regular board prices
in some instances receded a fraction; but the
dividend paying stocks we're higher. AT the close
the market was steady At the four p. NJ. session
! of the public board there large attendance
! and good deal Of excitement; but many opera
tors who had been buyers in the morning were
sellers realize profits, and the best prices of the
day were not maintained. The following were the
IL. nt.f