The New York herald., 1864-08-24
FINANCIAL AND CONNER GAL.
To. DAY. August 2s--er. N.

Tr, DAY August 2s--eP.M
Fhe depression u the stock market 50nunues ana tee
bears are sll making capital .; The arms'ee sensation
Tho feeling suoug soritJ o. operators, poth VI ana
u Of the street Is too unsettled 70 allow o ner Lai ING
.v vfuiure, even 1T he present p ees and there
fore those who bot enough 10 sell The markei Down
LAyo 1t nearly al their Wv. Tba. tnere Il more
aispositiOn il the popular mind 20 listen 70 terms
of peace now than there has been ST any ether
time sluco the began have good reason to be
Isvs Where formerly the idea was secuted !. is now
eIy discussed and the present egitator on the
subject makes men Rink. aud capitalists especial
Is, for they have more 70 iose by the long
continuance of the than any other csss The ques-
tion ice being political one Is, OF course,
subject many contingencies, and IL s more dependent
urou government and 20 iticians do than
uou what the people to nix desire The great question
With the former is not much The desiraotry of an
srmistice AZ who 10 to next President and 20
whom are 10 tslone the sp,s Grant, sherman, sneri
dan and Fsrrseut the only prsctcsy sebsioe ana
uscfui m he people have 70 represent tnen ho~ oe
csuse they a.. trying eat The enemy, and this aos
sIresl way TO peace after all
But the nrsnc,sl irtorests or the country
much dependent up0s the political issues Of the
time that whstcver comes Of this project tending TO
peace 1t must meanwhile syert m influence upon the
speculative spirit well material Of the
nation II is question frcighIed with such npor.
Sance tha, were with much at stake no, pause
aud reflect and TO extent act upon it. would be
strange indeed
Different persons have Of course different opinions
TO the probable effect OF peace upon the value OF
ties; but very few to take fair Of
che probabilities OF the That peace would
lead 10 a deprec ation of the nominal value OF
railway shares, for instance, at Iheir present
currency quotations. be doubted; bat their real
h. Lass eli her iram ats
within very short time; for the premium gold would
necessarily Decline and that rapidly 10 all kei
hood than railway shares. Tho currency being thus ap
precated vAue general reduction Of prices for every
thing to be bought with money would take place, and
any one who bought Eric Railway shares at will say
ll0 now would make . handsome profit by selling them
at IS return 10 specie basis II We except the in
tersst aud in proportion approach that stand
ard Railway shares selling 1t about half OF
original value, II calculate their price in gold
and have to suppose that an appreciation
OF currency would lower their market value esti-
mated in gold however much it's depreciation might.
Spectators are, however generally shortsighted az
well timd class and they cut their throats on
worry slight provocaon. They generally operate without
aoy fixed principles and make and unmake themselves
by accident In nine out Of every ten they
unable 10 the why they do this that, but
follow the market blndly trusting to chance, and
The armstice sensation has left them more or less at
che mercy any bold enough profit by it in sell
rug the market down.
The that influence the decline In miscellaneous
stocks and keep government securities rm will undoub
edly stimulate the demand for the latter abroad.
The coupon I'VE twentes sold high l13k after the
board this afternoon under the pressure OF foreign
the scarcity Of the bonds and yet the coupon
Of seventeen years stock, bearing the
This easily be accounted for by the knowledge that
the former better known in Eur(e, and the slight
difference in accumulated interest the two but il is
nevertheless inconsistency and which affords
such benefit to the government IN dspcsing
Of the loln as 1t would derive rom correspond
ing advance in all the Elk per cent gold bearing bonds
As have before stated, there prospect whatever
o gold bearin loan being put on the market at
present. therefore, with easy money market, We
for revival confidence In the general list the
stock Exchange and sharp rise after this we k.
The demand for money Is little more active, chiefly
owing increase in the volume OF commercial paper
oerng and calling of loans BY the pationa banks
uaon which the gcverrmsnt has just drawn heavily
We have beard Of transactions below seven
per cent foreign exchange there is little more do
ing The rate for bankers bills sterlisg is los haZ
In gold. Francs 5.l4 sic, with very moderate
demand
Bids will be opened at ihe City Comptroers ONCE at
NJ the IS instant for the loan Of $o46 700 on
<Solders substitute and Redemption bonds = TO provide
for the redemption OF the amount Of the original
bonds falling due the 1st Of September. The interest
is ak per cent. the principal will be redeemed in
lsS0-s1.
The stock marke. continues heavy and prices tend
downward Compared with the quotations yester-
day New York Ceptrsl declined the first board today
Y per cent, Erie Railway u, Hudson River u Reading
H. Milwaukee and Prairie du Chen ~ Michigan South
ern / Illinois Central A Chicago aud Rock Island ~
Pnisburg and Fort Wayne a. Chicago and Northwestern
!, Cumberland Coal x aud Ohio aud Msi issipp cert
ncates l. Quicksilver Mining soid the same. Michigan
Central advanced per cent Cleveland and Pit,sourg i
sad Mariposa y.
The downward movement in stocks partially
checked 10 the afternoon, and the market assumed
frmeT tone
Government securities were firm the following quo
tlticns-Coupon Of 1851, losN los4; registered
fystweutes, 10eL, and the coupons 1llii 1sh with
a brisk demend, coupon hves Of 1874, 90; October
Treasury il0, and certificates s. 955s
At TIE second board coupon skies OF 1851 100, and
coupon ayo.tweatiss ti3.
Cold opened at 2571s and sold at the fractions ad.
vAncing towards 25s
The following report is made b. the Acting Assistant
Treasurer 10 day
Receipts from customs s.................... s2sEoO0
Total receinls 1S5l,S21
Payments lstooTsb
balance .......t'*'. <Itt4sslc3
Tie foreign exports from The port q Baltimore during
che past week valued a slls,Gco
The following were tie quotations for Americas
rites in London nthe 12th Instant.
Msryland per cent ..................... 65 a 6s
Virginia per ass a.
10 per cent. 80 %
Al Antc and Great Western, New York secton
isl mortgage, 1850 per oent.............. 20 1B
NO ID mortgage 1881 8i..................... 81 a ~
pespsvyania Isl mortgage Is7T............ rs 10
DO "a mortgage 1859 sSs...................... GS 20
Fre suares SlO0 fail paidl 4Oa A.
10 per cent preferred (al psidj.......... 33a AZ
DO. 9TH m0rts age ............... asa as
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