The New York herald., 1864-12-15

h the aggregate $sIs zoTof which the China took out
Seo2 o7, the Bavaria $soo0 and the MORO Castle ssr
Havana 100000
The stock market was dull this morning, but firm.
The closing quotations showed the following variations
from those OF the second board yesierday:-Ere ad.
vanced = Michigan Central 1, Rock Island 4, Michigan
Southern y. Illinois Central Z Cleveland and Ptsburg
Prairie du Chen y, For. Wayne Il Cumberland Coal q
Reading and Marposa steady Quicksilver declined
TX.
Government securities were fraction lower, chiefly
IN consequence OF the absence o. policy OF any kind
the part Of Mr.. Fesseaden. Coupon lyetweaties de.
cined u, coupon ten-!orties 4 year certd
Gates Il.
At the open board at O'Clock the market was
higher but at the second regular board the advance was
not fully mantsined. AS compared with the closing
sales OF the morning, New York Central improved y
Hudson River a Michigan Southern "a Illinois Central
u, Chicago aud Northwestern q Rock Island q, Prairie
du Chen u and Fort Waye "a.
Government securities quiet Coupon fve-
twentes advanced u. After the call, however, there
was active demand for them, and 1887 bid for
coupon 6ve.twentes on the street
The money market easy the supply OF capital being
abundant Call loans on government colaterals made
in large amounts at ak per cent but the regular rate in
ordinary transactions continues to be Com nercia
paper OF the quality scarce the discount
from and half to ten per cent Foreign exchange
6rm and in moderate demand at lo9 for bankers ser
ling at sixty days, and ll0h q at three days Mer-
chants bills offered at los H.
Nothing further has trauspired to-day with regard
the negotiation for the balance the nrs hundred mil.
lions OF the enforty ioan and the hesitation displayed
by Mr. FesseDden with regard to his future policy is
proving highly detrimental TO the public credit.
He has jus, issued q circular, commencing with the
words-''Desring to avoid any further issue OF
bonds, the interest or which is payable In
coin or any further increase OF paper circulation,
ask your special attention aud three tbs
offered to the public" II Mr.. Fessenden had
substituted word sgnying something determined
than 'desirous," the effect would have been immediate
and beneficial. II he only showed less vacllaton and
agreater appreciation Of the responsibilities OF his m
portan position he would, instead OF impeding, promote
the interests OF the country AS it Is he wrong
for the position he occupies He has neither the
theoretical the practical knowledge necessary
BILE him 20 transact the business which devoves upon him
with that keen discrimination and general ability which
the calls for and consequence he is
less under ths nueucs OF designing Spectators who
have no other interest to serve than their while he
utterly fails In devising plan for the future which is in
the least calculated to divert threatened disasters He
would appear to be blind TO the vast OF the
country his command and to be guided alone By the
evil example Of his predecessor. He looks to the
worst possibilities instead OF favorable probabilities
and but little less favorable ceraintes and by his whole
tone and policy be does his best unconsciousy doubt
70 invite the very disasters which 1t is his business
avert.
In the circular referred to Mr. Fesscnden reproachcs
tho national banks for their want OF patriotism not
pushing the seven.thirty currency loan. He says
In extending to national banks and others authority to
obtain subscriptions and the offer OF liberal
for services performed was expected tina, the national
banks especially connected they with the
ment and prontng by that connection would have been
stimulated TO such exertions as would insure success
regret 10 that the results thus far have not been salts
factory Before ressrtng TO other agencies therefore
again appeal to ne national banks the hope that they
will undertake this most necessary work with spirit and
energy which will demonstrate that the recognized fiscal
ageGts OF the may at all times be relied on for
adequate exer0ns the necessary TO It's
daily wants. HfE
The national banks II would thus seem are some what
apathec the matter. No doubt their patriotism has
reference 70 their pockets; but Mr. Fessenden cannot
expect banks, .connected although they
with the government, and pronting BY that connecon
exertous to promote subscriptions to currency
loan while doubt exists with regard to the issue OF
future gold bearing leans The proper plan
for Mr.. Fesscnden 70 pursue is, therefore,
TO the idea Of further reliance upon fresh issues
OF gold bearing securities which the government 10 view
OF the existing gold bearing debt and the present and
probable receipts for custom duties, not justified n
making II was mistaken policy that dictated the issue
OF gold bearing bonds in the first instance, and the
sooner 1t / corrected the better for the nation.
Adrian H. Muller, P. r. wilkins 4 Co sold to-day, by
order OF Smith Barker and Alfred Dewitt, assignees OF
Frederick Pentz:-
go shares Harlem Gas Light Co., $50 each.... I752
13s Chemung abroad Co., s25 each ........... 91h
10 Gebhard Fire Insurance Co., 500 each ........ IS
% st. Nicholas Fire Insurance Co S25 each 10
80 Chatham Bank, s25 each. 10y
SlI 900 Virginia Can coal ca. per cent BIDS. due
1862. interest March and September. No inter
est paid these, 81 900 each per lot go
5000 Buffalo, New YORK Erie RR. 1st mtge. per
cent bonds, due 1877 interest June and Decem-
ber, 81 900 each 104is
BY order or the administrator or Ephran Miller de-
ceased
23O shares Kings County Fire los Co. 800 each. 7s
The highest cash prices Of the leading railroad and
miscellaneous shares the fret session OF the Board OF
Brokers day compare with the quotations wednes.
day OF last as follows -