The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-08-29
FINANCIAL AND COMMERCIAL.
SUNDAY, August IS. 1854.

SUNDAY, August IS, 1854
The fall IN gold which We have been prosuosticstng
for The last two weeks began yesterday but ~
the preInouiory symptoms Of It's approach bad been
visible both IN the quotations and otherwise stree Thurs
day. occssoned ssrpriss The part OF shrewd ope-
ra,ors. These however ueed hardly say, are re4y
much the minority, ana only few have pronted by
che decline Because the government has six hun
cred and forty odd mislcns Of currency sioat,
and Is still adding 10 this immense volume,
Al must not therefore, be supposed that gold
was fairly worth the premium al which II has
been selling OF Indeed has been tie dearest pro-
duct in the msrkei purchasabe with paper money. No
description Of merchandise form OF labor, had ad.
vsuccd at all in proportion with u since the commence
ment OF The war aud II Il hal for the mlsche-
vous NEEDING Or Congress with sale it would have
reached 60 such price as stands quot led at 10 day Il
rose hundred per cent within ew weeks before the
adjournment Of Congress- entirely influence
OF speculation and future There was no real
cause tor II, and 50 soon those fears abate
the decline assuredy come, and 10 proportion 70
the restoration OF confidence viii be the
cline within certain linH, for it would be, OF course
absurd argue sold ought be high pre-
mur the present AND prospective state OF the cur
rency. But we maintain after mixing every alowanc
for the ncompetency and corruption OF Mr. Chase and
the mid weakness OF his successor that Il has been too
high Before this II will probably be much
higher than il has been, supposing it 10 continue
for years longer, but at present II is higher than
OF the nation justify. and temporarily
il sustain itself at the current quotations The
deplorabie msmanagement and runous extravaganza
che par, OF the administration that this country has
suffered under would have been sufficient ruin al.
together any in the world and The best testimony
that be adduced in favor q It's the
enduring energy and heroic greatness OF its people, Is to
DO found 10 the great fact that is in
diton than il is No thanks, however TO the imbe
ciles at Washington Our strength has been
and human nature on a free soil
The government has zen from the outset OF the con
ct the worst enemy OF the people, and It's work Of ruin
alton is stl going forward II reduced the currency Of
the country to forty the dollar 10 vsGe and at
that rate IL has been selling its for which 1t
pay for seventeen years 10 cent interest in
gold. No suicidal hnanc al policy was ever carried
into practice by nation in the world and such
long persevered cannot but eventuae bankruptcy,
But, however much may Justly condemn the policy
which hus led us into present difficulties
theles have faith The ultimate soivency Of country
which the in power have done their b. injure
by combination OF ignorance pariisanshi and cor
ruption without parallel IN history.
How far gold may 50 down and how long it may keep
down not 10 Know, but suffice il 10 say tn
tbs which will most uly depress
it, namely, the Increased demand in Europa gold
bearing bonds, arising from the present peace agitation
also the fall in gold taking place. not yet at
work The export Of these bonds ought TO be OF
regret instead o! satisfaction the OF admnisra
ton organs but Il is fact must recognize and he
would indeed be a blind prophet who Noud his eyes
against the evil and only the good. II tie govern
selling these bonds for their price gold any
thing like its equivalent there would be every to
rejoice at this apparen confidence in securities abroad
but when remember that the nation is receiving
only forty cents less for what il is likely pay
hundred for hereafter besides interest," there
ia enough make US bekeve that bonds are merely
bought for speculation, and that "paying dearly
Tor our WHISTLE"
The stock market is. still unsettled and without .
strength The peace agitation likely TO be revived
and although there may be substantial reasons for
the decline Of railway shares tenrs with regard to the
contraction consequent the prospect realization OF
peace viii in all probability deter specu for rise
until result OF the Chicago Convention is kno.n
rreguarity will be the salient fe ture Of the stock
ket
The money market il active in the discount line,
but stock houses obtain all they require at per
cent and the demand from them is very limited.
Foreign exchange is dull. Bankers ask 1857 for ster
ling without takers. They Will PROBABLY ask less next
week.
The Secretary of the Treasury has issued the following
regulations for the exchange OF coupon for registered
bonds
Parties holding coupon bonds OF any loan OF the Unted
States except loans Of September g. 1850 (Meyi-
car indemnify, and March 6, ls6 oregon war; can
exchange them for registered bonds OF the by
presenting them the ONCE o. the Secretary q the
Treasury They should be accompanied by letter
Questng the exchange which should state tie numbers
OF the bonds sent, and the act under
which they issued or the title by which they are
known The letter should also state the denominations
OF registered bonds wanted IN exchange, IN whose
name they issued tie disposition to be made OF
they issued and the place where the in
terest 10 be paid. Interest registered bonds Is
payable by the Treasurer Of United States wash
ington OF the United states at New
York, Pbrade hia, Boston, New Orleans and 81 loss,
and United States REPOSITORIES at Baltimore Cincinnati
aud Chicago.
The total subscription 10 the seven-thrty loan up
70 Friday afternoon was s23, es9, 400.
The following figures show the aggregate shipments OF
gold from san from January to August l, this
year and last
shipments - August J. 1854. $34 y23 264
CORES poncng period, 1858. 26,OOIlS3
Excess this year DO tlo,Vol
The financial transactions OF the United States Sub
Treasury this during the past week are exhibited
n the following lable'-
Rscs,y1 from Total
Customs. Reoeipts Pdymenu