The New York herald., 1864-07-23
FINANCIAL and CONNER CIAL.

The prevailing dulness 10 Wall reminds one OF
$50 bee uisd al sea- all board waiting anxious
ly Tor brteLe. Tue ----~- . "" 'e'- "-S 'hs -
certanty OF Hr Fesssnden's policy have eeea oououse
OF s.asuaou monetary crc es aid ems has communal
GATED set 10 aImcsi every department of business For
some DAYS anauc,si remaioed toe tptoe o. ex-
pectaticu but. nothing beag forthcoming. thy have
begun 70 weary Sess and ngurstivey speaking,
20 think about putting forth she horns tey hsa ten'
porarly wuhdrEwn.
The strategy OF Mr. Feseuden not display itself
IN a combination Of rand aud surprising movements,
but perlkes OF the character OF mastery uaciivi
~ xhich some may mistake for q want OF occasion
and lack Of sbihiy cope with the difficulties or
his position We tho proverb says that deiays
dangerous; but shis may apply TO Mr. FeSsen-
deus case, least he may not think IL does BE
may comfort himself WIN the old familiar bywori thst
Slime made tor slaves" forgetting thAi 'ime and
side for man" He has probably other matters
20 aieGd TO just New broons, we are tod sweep
clean, and unlikely preparing TO make clean
sweep OF treasury Department. brushing out, too
sundry holes IN the Sub treasury ana Gus
tom House Ia tins city We know that sinecures arc
numerous building but there Is no
reason to suppose will be abolished. In view
OF the next election tner holders will merely be
changed; but there will undoubtedly be great
ccnnUlIou for days pending the announce
rnent OF the removals among those who now receive
salaries for sgniOg pay roll, and whose tenure OF
caice hung up and fate OF Mr. Chase When
she present Of Treasury tried ascertain the
views upon topics OF the enlightened statesman
who occupies the WbHe House, Was, perhaps hardly
prepared for phIcsophcai indifference which that
great public func, mani esed on subject OF what
some might cousduf TO oe pressing importance The
Treasury the SUP treasury and the Custom House
arst be put oroer aad tnsn, when the obnoxious
disciples Mr.. chase removed, tue time for bus-
nesx would have come, 10 this mastery financial
policy, originating 10 the fertile and comprohen-
sive mind Of head OF the nation,
may to attribute this pause before action
which yawn and cot spectators ~
their Wits money.
Az showed yesterday, the money market
and the market for government securities are
such that She proposed new loan cannot just
yet DO placed acvantageously before the public.
II It's price 10 be liked at par. there must be
contraction IN tne ISSUE OF certificates OF indebtedness
and tho banks saved the necessity Of throwing
overheard the securities they already bold
BY the large reduction auoun.ng to than sixteen
and quarter millions the unpaid requisitions during
the week ending the 10Th inst., IL Is evident
shat the governnent dstursing freely, and
the Eumber OF packages OF now compound interest
per legal notes making their appearance
assists TO conclusion that these being
paid out rapidly. The increasing case in the money
10 profit by interval which viii elspss before the
new loan is fairly she market. Tho amount Q! two
years per COUPON Withdrawn from crcula
destroyed sno 1sth iustant according TO
the Treasury report Of that date $e5 aud as
OF the three compound interest SIX per
cents have been issued substitution, it follows that
SAT remain TO be issued at the discretion OF the
Secretary.
There is less scrutiny OF colatsras on the part
nharf liu,ita al IA
mana ou.y, readily accommodated at scvsa per
oeut exceptional at But discounts
made csation especially 10 produce deal
ers, and the rates si hgh The belief now Is that
fopihcomug end threetenths Treasury notes
wilt be nude convertible into Ave instead OF six per
cent gold bearing bonds, which, considering the high
premium gold aud the prospect Of It's rising
higher, VIII afford guile sufficient inducement 10
subscrrt,crs to the new ioau II will. Of course.
tend advance prico u the skies of 1881 issued
under the last loan: but this OF Itself VIII
be an ADVANTAGE, . rae governments inspiring
confidence them among the people, and siimu.at ng
subscriptions to loans Besides, The receipts
OF gold FROM cns,oms a.iiss, we showed on o
former occasion pcmise ourlrg the iscsl year
20 barely sufficient TO pay the interest
ou tho existing ,oii toanps debt and il incumbent
upop tbs government took this s4uarey 10 the lace,
ned add NJ NJ re gold payiug responsibilities than
n is being able without ncon euence.
Mr. Chase Calculated only sixiy miliols would be
derived this for me year ending with June
1885, and from present this ikey 10 be
the maximum Unit, ard considering 10 4 mary City
four millions vii be g meet this portion y be
debt AZ Il stands there sar lus from this
source exp ndea.
There l. uoi slocua,ve demand or foTe-a eS-
chnnge Bankers stcTnas oas are quoted 4 ls9x
payable in three eht, and III ID sxty days.
Bills on Paris range IRON 9is 10 Is, according 70
variation q Tile operations in gold are chiefly
specuiatvs and The oezaap- import duties and skip
nept Is susl.
The teegra.n from Washington correspondent stat
hog that bad let that city for New Ycrk,
90 which We called yesterday, proves To have
been ineouec..
Tue stock parkc. quiet to-day, and with at any
noticeable feature except ssl advance N most OF t.c
leading railroad snd miscellaneous shares Ere Railway
ven, ~ =. Husson iaver 4 .eAdus /. Michigan Central
" Michigan Southern u linois central l, Cleveland
and ri.,sourg J.. Cleveland Toledo /. Chicago and
I,ocx Island y, Piutsnnrg aud Fort Wayne liz, aud
Quicksilver Hnine !. ono aad Slssisppi certificates
sold TIC same. New Yalk Central dec.iued a. Chicago
and North western =. ana Cumberland Coal y.
There was no change of quotations. for government
securities except year certificates. which sd
varced x per cent Tpe cemand, however, WAS quite
brisk.
Prices o railroad scesneous shares at the first
so-s,on OF the Board ~ veers to-ds, parc WIKI The
highest cash safes on Friday last week follows
lazy ~. July y.
American god-..... .......... ...... zoJ .oI4
Cleveland ~ P't,soorg. ........ iv,?s io.s
Cleveland and ro1edo. .............. l3i1S l3a.
Chicago and Y OK islsnc .............. 1oss losT
Chicsso aud North n~esietu..... ...... oil 5sti
Cumberland CoaA.. ................ ~ Ia'a
fsartr Coulu