The New York herald., 1864-10-24

KhtsburE Fort WAyne..... o6K 95 102Z s6
Quicksilver Aining......... 81 Tx 7sA Tx
Reading Railroad l25 l1qx 124L 1922.
GOVERNMENT sxcuRnl.s a =
Coupon es Of 1881 .......... 1Osk l05k 1861 Ic6
ftvs-twesty coupon ....... I072x l0,I 1851 1919,
Five twenty coupons. new is. 100
nv. twenty registered. 1918. loe 1901 lol
10-40 per cent coupon e6k 95 s41s 94sl
October $40 ooies ....... lo7 1855 lo6 Ios
Tho quotations a, the Evening Exchange si,ur lay
wsre Is fclows:-ioId 2l3a u, Hudson R'v.,l 2oX
Reading l2s. Erie sex Illinois Central lI7>s AichL
gan Southern 65, Rock Island 903, Northw 30yS
preferred TAX Fora wayae o. O0io nj Mssis ppi
tinca,es SAX, Mariposa 3d.
The money market has been easy stock houses on
call. with good colatera,s ana wide margins At
pcr oent The nrst payment Of ten in legal .
dsrs and tsu millions certificates Indebtedness on
account Of the new forty million fve-twenty loan
was made the Goth inst, and some par
ties have anticipated the next payment, due
tho s1st ins by paying the whole amour. OF their
subscripon in order 70 obtain immediate possession or
their bonds and resp the beneat Of the gold Interest
accordingly. Tho banks pursuing stric ~ con-
servave policy With regard 70 their discounts
Ia view Of the Withdrawals of deposits second
investment OF twenty millions legal tender notes re-
ferred TO- But the demand for money not likely to be
heavy, owing 70 tho anguid trade and specua
ton nduoed 70 great extent BY the approach Of
the Presidential election and the uncertainties attend
tngn.
Lenders still critical Of commercial paper and only
tho best quality rated at from nine u twelve per
osak There very little being made, owing TO
the Limitation Of credits and lis unpopularity
- security in these days, when men want
70 stand prepared against hourly contingencies,
and when and other stocks the temp,a
eion Of high rate Of interest combined with the convent
cncs Of being saabe At aay time. which is longer
always the with paper There has been
very little done in foreign exchange during the week.
owing 70 the light mportatons and large exports going
forward. and this feature trade likely 70 con
tnue The legitimate demand gold customs duties
and export being thus greatly rsduosd strong support
b Withdrawn from the bull" side tho gold market
and this has tendepe 70 countsract the influence Of
spscSation for advance Banksrs' bills for sterling
wore quoted the close Of the 100 tgold
rats) at six days from sgh and lilo three days
Francs range from II 70 6.l5
Wide differences OF opinion Nth regard 20 the
future Of speculation, and many asposod
pace uDdue importance upon she result Of The rthcom
ing escsoo- Ths srGumsat of the AeCeAn s,de ~ shas
q Mr. Lincoln should be reelected tAs h-sy Be
prolonged . longer psriod than II the democratic
candidate y triumphant, and that . vass Increase
q the public debt, and much further dspreca
sioa of che currency viii - insvtabie. The
argunsos Of the opposite side that
Mcclellan elected public confidence In the
national credit will be shaken and politicians o, the
dsmocratic party will begin 70 talk Of tending
10 Reputation Bus both these arguments preudced
and the Of the national finances depsods upon
the Of either candidate than many disposed
to believe Whether Mr. Lincoln or General Mcclellan
presldss in the Waite House during the next fsur
years 10 q matter Of little consequence, - com
pared with the proper Management OF the monetary
a9Airs OF ths government, and whatever the result
OF ths may the present financial policy Of the
country must be changed the ultimate disasters which
Il y inviting 70 be avertsd. Ths funding Of the
satsr part the national currency afoa 10 com
pei The reduction OF the gold premium 10 point above
which, with judicious legislation, il could never have
risen and modhcat Of the National Bank Law Affect
Ing their paper imperativey called for, and il
will Be the nrst duty Of Congress 70 take Into serious
oonsldcration this important subject The public debt
u undergoing augmen tation . rate enormous that
further paper money expansion will aggravats tho
existing evil in . rapidly Increasing ratio. Yet The
policy OF paper-money imitation u being steadily per.
severed n and the incubus 10 daily becoming greater.
Our national debt nearly two thousand millions, and OF
this S6s1 In the form Of currency issues ~
The end Of September exclusive Of more than nfty
thrss mllioas Of national bank paper, and must be
remembered that the currency IL the basis upon which
sbs entire debt only regulates its value for
tne time being bat the entire income and expenditure
d tho government, customs duties and interest
on gold bearing bonds excepted Thus the more
the currency diluted the greater viii be iu
depreciation and the rapid the increase s the ma
toual debt The dangers and evils attending the past
and present financial policy Of the government are obvi-
ous enough but stl disposition 10 shown 70 modify u,
and the blunders Of Mr. Chase have been repeated
by his less Incompetent successor and likely TO be
continued TIL legislation steps 10 and provides remedy
whchsver, therefore, may be dominant party, the
future Of the finances Of this country may be easily
forssesn unless adopted oounteract the
evil and 30 improve the the paper dol
lar. Then the government rely upon loans .heir
market price 10 meet the its expenditure over
reospts and the price Of s bonds will be Of very little
consequence comparison with the value OF the paper
doaar by the appreciation of which, consel lueni upon
ths withdrawn OF the bulk Of the currency anoas ito
sxpeasss would BE- reduced probably one-third, while
che entire property Of the nation would be proporons
ly enhanced In specie value
rbe financial trsnsactons OF the United States sub
Treasury this city during the past week are exhibited
a. s... sabI