The New York herald., 1864-12-06

Up. ...........22s biol h....-..... .226 y
On the stock Exchange thsrs 10 no cAAngs to note In
the general features Of the market, which may be dss
cribed as "a.t stale and Improbable" Al the frst
board inactive, and the closing prices showed the
following variations from those OF Saturday Erie
declined ~ Hudson River 4, Barlingtoa and Quincy
VI New York Central advanced y, Reading IL, MichI.
gan Southern y, illinois ,entra y, Cleveland and Pitts
burg \, Chicago aud Northwestern Y, do preferred n
Cleveland and Toledo Chicago and Rock Island * Fort
Wayne y, Msriposa 4. Michigan Central was steady.
Government securities were active and nrm. Coupon
6vetwsnties dechned y, new issue advaaced Y y,
coupon fortes advanced y, oas year certificates
y Coupon SKIES OF 1851 sold at ll3xaX. I
Al the open board clock the market was steady
but duh, and At the regular board was heavy
with very limited volams OF business As compared
with the closing Of tho morning. Erie advanced
Hudson River declined u, Cleveland and Psburg =,
Cleveland and Toledo y, OHIO and Mlssssippi csrtin.
Gates 4.
Government securities strong q advance, e.
peciaily coupon vs.twentss, which improved X.
Coupon ten ortiss advanced ~ coupon sixes oe 1881 n
oae year certificates y.
Al the open board half past three, the market con.
tinued dull and steady.
Conjecture II active respecting tho future anancial
policy Of the government and the Secretary Of the Treas
urys report is awaited with much interest The resou-
zion Of Mr. washburns 10 Congress to-day, instruct
the Committee of Ways and Means 70 lay tag on oil
stocks Of domestic liquors hand that Of Mr.. Cox Of
Oho 70 inquire into the sxpedeucy reducing the sarn
upon coes and tea other uscessarss and that
Of M Davis Of Maryland, respecting the repeal Of the
ninth section OF the nrs article of the constitution
prohsng duties on exports show that the subject Of
the national finances has engaged the minds egs.
ators during the <scess and leads expect that
prompt action this important subject which the public
interest demands. The proposition Of Mr. Morrill, how.
ever provide sinking fund for the gradual extinction
OF the public debt rather premature and s cousders
tou may bs deferred with safety although there ID no
objection In the way Of making such provision before
the adjournment
The statement made BY some journals thss the Comp
uoer OF the Currency had that no more na
tiona banks would be created denied BY that
onoer. who has not the power prevent orgauza
tons under the which provides the or three
hundred millions Of currency. Il therefore becomes
the business Of Congress 70 take into consdera.
ticn the provisions OF this bill whom the question
OF the currency comes under debate. Either this
law must DO 30 modified as to reduce the paper
money issues authorized under Il or the out.
staDdng legal tender issues Of the Treasury must be
essened proportonatey; Hor there 10 little doubt
that within no long time the whole Of currency
authorized bv tho act will be applied for unless taxation
Is levied to limit the circulation of the institutions 20
organized The State bank issues should be subjected
higher tax than at present-say onesixh Of per
cent per month upon the average circulation OF each
bank and an additional monthly Of onethrd Of one
per cent spon tho average circulation beyond ninety
per cent Of the capital subscribed, which would be
exactly double the present rates Tho national |
banks should, at the same time, bs brought
a. much as possible under the operation OF
section ITO Of the Internal Revenue OF June 2 1854
and the currency act should be amended accordingly
There s all the more reason for this a. tae majority Of
these institutions are already paying large dividends
The Treasury circular just issued In accordance with
the Of Congress- establishing regulations for the pur
chase OF the products Of the nsurreconary Sates
New orleans, Memphis Nashville, Norfolk, Beaufort,
N. c.; Port Royal, Pensacola and such other places
A may DO hereafter named, IL . document OF |
which We may say better late tnsn never" II provides
for the appointment OF agents purchase for the United
States Southern produce nj not more than three.
fourths OF the market prices In New York, which
latter arc 70 be communicated TO them ~ frequently as
possible The property thus bought Is to be sold weekly
by auction the highest bidders, at the depots named
10 the proportion one.ah OF the quantity received
during the previous week. General orders have been
issued by the war and Navy Departments to all officers
10 command relative the subject OF the circular and In
order 10 prevent conflict OF Authority between the mill
tary and civil authorities
The money market continues easy and Sluggish AZ
seven per ceut call, with occasional transactions at
ak ou large amounts Tie ssiemept OF the associated
banks for the week shows an increase 10 the |
deposts Of So es4,a2 10 the specie Of s25eoa, and
in TIA - ofo<Qlo 742 The last Is chiefly owing to
nav - unt or the new nve.tweuiv loan. and |
a. n f1t oonder this head viii be a marked |
foApse 80 - statemen, owing 10 the taxing up OF
- bouds by the Subscribing banss m the meantime The
discoup. Iiue is inactive from eight to eleven per cen!
Tor nrst class commercial paper.
In foreign exchange there IL only very moderate
business doing a, former rates, nameiyos1s tor bank
era sterling at sixty days aud lIOs 1 three days.
nercharts' bills IN favor, 10 consequence
~ aspect Of financial and commercial AZ.
loTz losi,. Francs are quoted at
sighs and i3k a5.t9 NJ sixty days.
he United states sub-Treasury in this
.y,,toms. sl49 600
0tai rec ipts
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Hnlance 4Ni iI"isFso