The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-04-20
FINANCIAL AND coMMERcIA

"NRt~SsHe HuNb OINTMENT tAu
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SUNDAY. April 10, l8d
The foreign trade Of the port last week n
fair average for the season, considering the
settled condition Of business and the fuctu B
in exchange. The importations of general )
chandse, exclusive of dry goods, amounted
2,s6l ,o99, to which add the import entries of |
goods, 81, 1913, 100, and the aggregate imports |
up 1896 ,0S9. Against this we exported 81, d
O94 of produce and merchandise, and $l5s, I'D
specie-in all 50 .6s3,63l. And as our exports
cleared at their currency value, while our imp
are entered at their specie value, the trade of
week really leaves much larger balance ags
the port than these figures reveal-which Is on
the results of the decline in gold.
The money market grows gradually ea{
Lenders are unable to place their funds at s
cent on call, and it is difficult to purchase the
mercantile names on short paper at S. CertifoI
fpublic indebtedness, old issue, are selling at
per cent premium; the new issue, interest
principal payable in currency, are within ~
cent of par. Were it not that the Sub Treasu|
are receiving all the money that is offered theI|
6 per cent on call after ten days, the current 4
ket rate for money would now be rather uz|
than over per cent. This state Of things, II d
hardly be explained, is due to the enormous exj
ditures Of government. Though over two mill
of dollars are being placed at the service Of the|
vernment on each working day by the people Of
United States, the Treasury drafts ON our Eub-TI
sury are in excess of the receipts, and, to keep
balance on the right side, the Secretary is compel
to send copious supplies Of new gr(
backs. So long as the war Is prosecl
on its present scale, the money market d
continue to rule easy, with, perhaps, occasi(
moments Of stringency, occssioned BY 4
expected calls for money. The continued oon|
sions Of United States currency into $40 bond
the rate Of Is 900 900 week on the average, q
be regarded as highly important and very q
factory symptom. 1t indicates calm and rssot
confidence in the government, . conviction
the resources and the spirit Of the United 81
are equal to the struggle in which they are
gagged, and an abiding faith In the intrinsic vd
Of United States securities. Foreign pufchd
Of American securities have fallen Oh latterly;
our home capital seems to be quite adequate
supply the government with the money Il need
The supply Of paper money continues col
crease, and the bank note companies are pre-
to the utmost to keep up the production. So 4
ntable has their business proved that new rival
the two established companies are said TO be 4
jected. and we presume that Mr.. Chsse's visit
New York is connected with the subject Of
awards of the printing Of the new national Z
rency and interest bearing legal tender. Quit
number Of banks are preparing to reorgaI
under Mr.. Chasss act, and are anxiously wait
for the printing Of the new currency. Several
the city banks propose to issue large amount
circulation on the governments they Id
BY the autumn our city circulation y
have increased thirty millions, and the ooun
bankers expect that the whole $500 ,O0o,(
of paper authorized by this act will be "a,
within year from the appointment Of b
Comptroller. This, with the new Treasury not
would swell the amount of paper money aaost
about 81 800 000, 900, against $2l2, 900 900 In
whole Union before the war.
Gold was very tame and weak last week.
sold on the news Of the repulse of Dupont az hi
~ 1881, but fell almost Immediately, and clos
yesterday at ISL. The weakness of the market
dye. in part, to the operations OF the Legislatu
in part to vague rumors of sales Of gold for accov
Of the Treasury Department, in some measure {,
want of spirit among gold spectators, but me
than all 10 the duness Of the exchange mark
which results from the stsgnafion of trade in n
eign merchandise. The latest intelligence fr,
Albany leads to the belief that an anti gold 10
bill will be passed by both branches
the Legislature. Leading members of bS
houses are identified with bear operatio
in gold, and one reporter gravely informs
that the Legislature will pass the bill out Of sp
against Wall street and its lobby agents. Happi
whatever the majority Of the Legislature may d
there il good reason to feel assured that no %
bill as the abortion which passed the Senate v
ever become law In this State. Upon this M
chants may rely. The exchange market was firm
yesterday than for some time past. Within I,
days there has been q better inquiry for goods, q
several importers are preparing to remit. I'm
Yesterday exchange has ruled Q 4 per cent b
low gold. Yesterday, the rate being Iss u at 4
close, gold at Isl was quite - cheap a. exchane
As soon a. the importers re-enter the market
buyers Of bills we shall have steader rates both
gold and bills. IL il understood in well inform
circles that the business which took Messrs. Aspi
wall and Forbes to Europe may bring the COVER
ment into the market rs buyer of exchange.
Tho followin tablc ahous fhe courue NJ thu sso<