The New York herald., 1864-06-07
FINANCIAL AND COMMERCIAL.
MONDAY, June s--o p. M

MONDAY, June 30 7. M
The stock market was not active to-day: but it was
rather buOyant than at the close Of last week
Compared with the sales al the FIRST board Saturday
New York Central advanced Ia per cent. Erie Railroad
", Hudson River l. Reading y, Milwaukee and Prairie
du CHEN y, Michigan Southern u, Illinois Central u,
Cleveland and Toledo " Chicago and Rock Island u
Chicago and Northwestern az, Pacific Mail y Canton
Company ~ Quicksilver Mining y, and Mariposa
Erie preferred and Cumberland Coal sold the same Har
lem declined per cent Michigan Central u, and Ceve.
land and Pittsburg u.
The market was without animation IN the afternoon
and the majority OF the railroad shares were little OF
Erie Railroad closed al Ill Hudson River l46A, which
advance OF 3x cent since the morning session
Reading 1854, Michigan Central 144H Michigan Southern
o4h, Illinois Central 12yH, Cleveland and Pittsburg
ulk, Chicago and Northwestern 5ss4 Chicago and Rock
Island lllh Pttsburg and Fort Wayne ll6. Toledo and
Wabash Pacific Mail 246. advance of per cent
since Saturday Quicksilver Mining 74h. and cumber
land Coal 81
Government stocks less firm, the fvetwenty
coupons closing 1o6 and the year certificates
si9s.
The premium on gold advanced again to-day. The
opening price was 1885, from which Is rose to 1914
within 6A per cent OF the specustors' hgure-2oo The
currency dollar is only worth TX cents.
The money market evinces signs OF strngency caused
and loans cannot be eecod with under per
cent.
The new policy which has just been adopted by Score
tary Chase OF putting the government bonds
kst and selling them at the price that capitalists may
place upon them, is precisely what recommended him
TO do many months ago. The question now is
will he be likely TO continue this course, which
Is the only that can save the coun
try from virtual reputation. The bonds
means lying comparatively idle in fancy stocks
which will be forced the market for sale, and what
Is realized from them will naturally be invested in
The long government bonds. which considered
safe and far remunerave In the end than ordinary
stock speculaiions The plan which Mr. Chase has
adopted this late day, will prove benefit
to the finances Of the country 1t will gradually with
draw the paper from circulation and in the
end leave the currency exclusively in the hands OF the
national banks and State institutions and will tend
10 greater degree TO reduce the premium on
gold, bring down prices OF all the necessaries
Of lie, and restore the currency to its
normal condition, than anything which has yet
been proposed The seventy five millions which
called for will probably be expended before the end OF
Che present month which closes the fiscal year Of the
government Mr.. Chase will then require another
seventy five or hundred millions meet the ncreas-
ing expenses OF the nation in addition to the amount
which will be produced by the tenforty loan, and II he
continues pursue the policy safely be
dscted that the national finances will be reestso
aished upon . secure basis This movement will, OF
course produce utter In Wall street and may bring
panic. Gold will 60 down, and smash In the stock
market viii not be among the improbabilitias but II
such events should the country and the people
would be benefited thereby and the path would be
clear for the inauguration OF healthy Of nan
Gal affairs,
The following table shows the loans and issues absorbed
srhi hs haan Izodh hu