New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-07-07

"WEDNESDAY. July 6-P. N.

Gold opened on the street at 2i9a 25O and
sold down to 2i7, closing at 24e. d@4s3. Stocks
on the street were steady. Erie lldi; Mich
gan Southern, 95; Illinois Central, lS3 At the
Stock Exchange Government Bonds were strong. Reg
istered g. 1851 lO5ldlO6i Coupon d 1851, l04aal4i
52Os, Registered. lOiGlO5; Certificates. 96!de6t
State Bonds steady. Tennessee is, 57i asa; North
Carolina &C. so eco; Missouri G 69a7o. Canton Com
pauy, 3oi 939l Delaware ard Hudson, 24la2i2; Cum
berland Coal lower on rumor OF the raid sold 66d66l
Central Coal ~ American Coal %; Quicksilver u! a
III Pacific Mail 30 Atlantic Mail III; Central Amer
ican Transit Co.. 2sG36; New York Central l3j 1851
Erie Railway, ll5i all53; The Preferred ll3i Hudson
River 1854 a 1885, Reading 1921 Gl39l; Michigan Cen
trail 1881; Michigan Southern 94i094i; The Gua7an-
tted, l3sal46 Panama, 26O Illinois Central 1920
1871 Cleveland asd Pittsburgh, ll2}dU2i. North.
Western 52lq52! North Western Preferred sf3a90;
Cleveland and Toledo, Haln; Rock Island. ll5d
lI5i; Chicago, Burlington and Quincy, l3l0l3} Prsi-
yie du Chen, 67G6s; Fort Wayne ll2i 49, Terre
Haute 80; the Preferred, 74076; Chicago and Alton,
e.; Ohio and Miss Certificates. 5lla5ll At the SEQ
end Board the market was lower, with strong pres
10 sell for cash. Money was very aetiye at tio
close Of the day. the banks having called III Their loans
freely to-day Brokers forced TO sell 20 make their
accounts good The closing prices vere' n. Y. Cen.
49, Michigan Southern 90; Cleveland and Pittsburgh
nli; Rock Island. 1871; Chicago and North Western
sli; Pittsburgh and Fort Wayne, 12i; Quicksilver
&c; Maripesa 50.
Freights are more active, and rates frmer.
Tie engagements to Liverpool are 5000 bush. Wheat
al Id in bulk and ships bags 100 bush Corn at 3d.
p Sc D in ships bags, per neutral 1900 bgsa Wheat
at4iQ4sd. in bulk and ships bags 30 Oil zOs and
al a.
25s, and 600 Slaves. 65s. To london; $50 bags
Coffee EOS. 50 cases Oil Peppermint 25s; 20 punchs
Rum, 25s. and per steamer GOO bush. Wheat ID 70
TONS Lard 25s and IS tuns Oh S5s The carrying rates
are as follows: To London std. 4 bush. and So a
S. Cd y qri Flour Is. I'D ais. 3D.. and Heavy Goods
ia Cd 02Cs. y tun. To Liverpool. Wheat 4a4ld. a.
busb., IS as. Cd. p Or. Flour lOld. ais. 3D.. and
Heavy Goods los rs Cd. To Glasgow. Wheat 81 a
Cd p bush, and q. Cd. ais q or Flour IT, Cd. a
is. Cd, and Heavy Goods rs. Cd a2Os To Bristol,
tia6d. 2 bush Flour, Is. Cd. ais. 3D.. and Heavy
Goods. lis. Cd Dos; AID Cork and market Is 3D. a
Ss Cd. y Or for Wheat.
The business Of the Sub-Treasury was: Re-
eepts So lc2 62-fOr Customs. $4,000; p Cent
Bonds, ISL 1000; Payments 81 742 ACC O5 Balance
el966s, l76 II.
Money continues active OF Z y cent on call,
and in many higher rates are paid The Govern.
ent will soon be in the market as borrower and will
be given the precedence by banks and other financial
corporations throughout the country The resources
Of the Treasury first the s33 10000 Of bonds Of
issl and second the 500 600 O0 authorized by the Loan
act Of the recent session The banks Of New York State
and National included are united in their disposition 70
render assistance to Mr. Fessenden such as will make
his duties comparatively easy. II he should now indi
i ~ l. + -.
could BE- placed at once with the banks at handsome
premium and be paid for without violently disturbing
the money market or calling into use any new cur
yency. Under the oct Of August 5, 1861. Con
gress gave :he Treasury power 10 loan money
borrowed Of banks on deposit. 10 be paid Out
upon drafts IN the case Of the SubTreasury or the
present National banks If tie Secretary Of the Treas
pry chooses to bring TO his aid the old banking system
Of the country be win enlist cordial support which
the Department has been without for long time 10 It's
great disadvantage The Government must be for q
long time a borrower. and can find powerful
allies Of this moment than the State banks which can,
with little trouble divert to the Treasury large
now employed in specnlaons. dangerous 10 those
gagged in them and Of serious injury to the Government.
There few cases where Government obligations can
not be filed by credit upon the State banks which
still control the money Of the Nation All the Secretary
has TO do is TO act under the law Of Aug ls6 which
enables him 10 make National bank Of every institution
having the disposition to loan the Government money
THE National banks cannot be made the efficient aids
tie Treasury needs, for variety Of reasons, which
need not be stated II enough say that they are
ANAL minority of the banking interest and in an M
fIiendly attitude toward the old banks. All bank peo
pe fuzzy unders and this and realize the fact that while
the two systems are in collision the Government loses
most valuable services in is hour Of need. What tie