The New York herald., 1864-07-02

Tennessee 6s........ SIS California Ts.....163
LnGiana 5s........ 81 Ohio 6's, 1851. ........10S
Virginia 6's.......... So
There was considerable excitement in the gold market
To-day After opening at 243, it carried up tho
forenoon to 2s5 without any apparent other than
the unsettled question about the appointment OF q
TO Mr. Chase. After the that Sena
torFeasenden had been nominated by the Presden,
Confirmed by the Senate The price went down to 255.
Late in the afternoon put adoat that the
Gold bill had been repealed by Congress- upon the faith
of which the premium dropped thirty sh,rty.Gve per
cent The fluctuations during day ranged between 225
and 2s5.
Sterling exchange was unsettled, and after the bills
drawn by the government had been disposed of at 2I5
The street rate varied between $50 and 800.
The unsettled condition or the money market keeps up
Ehe rate OF interest, ard borrowers compelled to pay
Ito " per cent commission order obtain accommo
da,ion at the legal rate OF interest.
NO dcubi the true Of Mr.. chases resignation Is
located The diversity opinion between the President
10 Mr. Cisco, the SubTreasurer this CITY, Mr. Chases
register OF personal friends and advisers unfortunately
Tor the country, did no, contsin the OF John j.
Cisco, for the reason thai many of bis pet schemes
were objected 10 by the list named gentleman,
who could not make his practical ideas OF finance
conform with the visionary AMI schemes Of the
Secretary Mr. CISCO opposed to tue issue OF the
buuty told Mr. Chase that tendency would be to
lessen the conhiepce Or the people the government
credit. and that they would be very unpopular the
banking Institutions and capitalists Of the country His
Ideas subsequently, proved correct and Mr. Chase was
forced to acknowledge his by announcing de.
Termination TO retire the hundred aud seventy mil
lions that had been issued. HIS next movemen, was to
replace them With six per compound interest notes
Rlso legal tenders.
Mr.. Cisco considered the issue fully as oDpoxous
as the old, and could not be induced endorse tue
secretary's policy, but the contrary catered his
protest against any further rhation Of the currency il
whatever shape might presented These objections
naturally raised The ire o. Nr hase and was deter
muei 70 pot IN Mr. csco's place whose IDEAS be
could feel assured would uoi run own.
Uton tbe question OF tie appointment to the import.
ent aud responsible position Oh Sub-Treasurer in New
York Tile Pre1eat Secretary offered ana hence
the dlsruptoa.
The announcement clme irom Washington to-day tha.
Ton Wm. Pit Fesseuacu, U.,ted States Senator from
&nine, 10 be tue successor 81 Nj. Chase Mr. res.
eendou chairman TIE Finance Committee oi the
Senate has De dout acquired Aaowedse Or none.
tary AFFAIRS nud ought by ths time to uLderstaId the
lc uecessltie I'll TO coautry, but nevertbc
less cf tic opIon hai be ac4iLe expcrerce Gu
is necessary 10 place t1c haaucss o. the nation
an q proper coalition % pass tho trying ordeal
upon WHICH they have .u.t entered, aud 70 save
tie credit q the country ffom the impeding
run. II restore the ca4i Or tie ,eope he must
inaugurate policy different rom which has been
parsued ~ his predecessor, lud he must take bola
tand IN favor 81 x-toa 4ud reduction the amoont
of cct.ecry, regardless q sge pro,es,Gtcus or stock
jabbe.s eld the walls u roltcans and shOd3y coutrac
tors y be g.es INTO tne aai tucat merely rna.A T.
the lae Secretary lie wH before tie close
Lis term 70 regret Tue step he las taken what the