The New York herald., 1864-12-11

oi an auNhucc VI Po'''~~ - /
and the probably evacuation Of Petersburg assisted the
downward tendency.
Thu stock market was dull and heavy this morning,
and NO speculative activity manifested itself The closing
sales showed following variations IN price from 'n"se
of YESTERDAY s second b. ,rdEre decincd h. HUDSON
River y, Reading ~, Michigan southern A,cn'caso'
Darlington and Qu,noy y, Chicago aud ROCK ls'aho
y. Fort W ayne n Ohio and Mississippi certihcates "a
Quicksilver advanced Sh, Mariposa 70, camoe'anu
Coal 2as.
! Government securities were quiet; coupon skies Of
1881 declined !, coupon avc-wenties "a u, new issue
!, Cer,inea,es of indebtedness wore steady at s'SA
9I%. zoo
Al the open board at one O'Clock the marAe' was
shsde Hrmer bat afterwards on the street, was hea'!
Government securities however, improved ana 'he quo
tation for dve-iwentes was l0S%.
The money market is becoming easy ana resuiai
aeaic and large offered at six per cent 10
,ha although the Is still seven
First class commercial paper scarce, and the as
count rate ranges and half to ten per cenI
Foreign exchange has been quiet as usual on steamer
day. and the rates teld DOWNWARD. for s'e'hs
bar kers ask lo9A at sixty days, and HOY iloss az
three DAYS. Merchants bills are offered at los inc
shipments of specie to-day amounted to $500 OF
which the Bremen took out $loOOJo, the Euiuou's
100000, and the Virginia $So0.ooo
With respect 10 the availability OF the puohc oomain
Tor purposes Of taxston Mr. Fessenden very properly
calls attention 10 the that owing 10 the operation
the Homestead law, the agricuturairegion mas am .
entirely ceased TO afford direct revenue II therefore
becomes question importance whether or not the na
toual interest would be promoted by repcai OF IDS
law There would doubtless be very strong opposition
20 such course but view of tho questionable utility
the act as operates the subject demands considera'
tiep. Mr.. Fessenden says:-
Poss bly,, had struggle 10 which the nation Is nov
engaged been foreseen or even apprchended congress
ar1aA ,t nrpha mot la
which renders SO large portion of the public donna
Unavailable basis OF credit either by way OF pledge
permanently to The creation OF sinking fund for tn
ultimate redemption OF the public debt In either as asa
that domain migh, been IN dc 10 render materla
aid 1t may still fars be questioned whether ana
what such aid has not been afforded oy the IN
ducenents offered to an immigration wbch s daiiy aug
menting the esources and power OF the republic.
II must be remembered, hsxever, that in time Of wa
agricultural Industry more or less impaired, and con
taization instead of diffusion OF population takes place
and that therefore, the full extent Of revenue from To
source could not be reaped til long after the restorao
OF peace for the army now absorbs a large number
those who would otherwise be employed in agriculture
labor AT present even the advantages afforded by III
Homestead law inadequate to withdraw new arriva
and others from town life and the army to any consid
rsbe extent and therefore. 10 this respect, the time
repeating 1t is opportuue. Continuing the subject, It
Secretary remarks ss4t
with regard TO its mineral lands the question is free
from this These are still the propert
q to nation aud may be disposed Of as Cong ess sha
determine. That they should yield revenue 70 th
owner Independent q the collateral advantages derive
from Individual enterprise in extracting the prcco
metas, would TO admit Of no dispute. On the on
hand II may be said that TO sell them absolutely
part with IN unequaled and inexhaustibie source {
wealth and power, the control OF which should AWAY
remain 10 she hands Of the government. On the
that all attempts hitherto TO realize any considerao
% h
r abb. . devise sone mode By which these lands may
made available 70 An extent IN some juss measure ~
portonate 10 their yearly production. -
Congress will. therefore, do we'll TO impose tax p
upon gold and silver (fter assay yielded by =
-sssEssTpr uuu HTssouri RaiIroad:-
Srs Miss!ssp and Missouri Railroad 10 completed an
running dho hundred and seventy i've miles Farming
OF last quarter OF 1854 compared with tim