The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-07-24
FINANCIAL AND COMMERCIAL.
SUNDAY, July 23-oP. AZ

SUNDAY, July 2S-oPM
Tho stock market during the past week somewhat
unsettled and quotations at the close we're, with few
exceptions, slightly lower than al the opening Never
thelsss speculation has been mainly for rlse the
apprehensions ora stringent money market have to
great extent, subsidized. The uncertainty however at.
tending the future course of the government provd-
ing for its financial necessities pending the meeting OF
Congress holds the speculative feeling partially check
The official acknowledgment that the amount Of unpaid
requisitions is unusually heavy, together with the
secrecy which the Treasury Department with
regard to its AFFAIRS fosters dstrust hence national
goldbearing securities have experienced q decline
during the last few days II Is known that
less than thirty millions OF the seven-thirty
loan remain. unaken, and nothing more remains
Of the six hundred millions authorized by the of
March g. 1865 At the date Of the last official statement
Of the national debt MAY 81 the amount subscribed for
vas $500 $780, and the aggregate of Indebtedness was
s26s 205, 1853 Since then Notwithstanding the heavy
subscriptions to the sevenhry loan the Secretary OF
Treasury has been compelled to pay seventy
cent of the claims upon him in certificates Of indebted
and the balance in currency The Treasury will
have to provide prior the 18th Of August for the
ment Of $40 600 account Of thirty notes in
addition to its disbursements and the debt OF the
country is already than three thousand millions
without allowing for the unadjusted claims Nearly
all the loyal States in the Union have at the
time unsettled claims against the gov.
eminent for the federal proportion Of the
expenses of enlisting, organizing and transporting
troops according to act OF Congress to that effect and
OF the States already preparing to agtate in
Congress for the payment in full of their war debts
Tins 1t is evident that with still immense army and
navy pay the burdens which press upon the
national Treasury will not be very materially light
mod Rut nv nj means lot he and navy nd
other departments Of the public service be re-
duced much and speedily may be found
compatible with the national welfare; for the
tiona debt is rock upon which the ship Of state
in the political sense may yet strike and therefore
its increase should be checked by all the at
command. Meanwhile the Secretary Of the Treasury
should announce the policy he intends to pursue,
that his OF borrowing nearly exhausted There
is appearance at present Of the Executive summOning
special session Of Congress TO discuss the questions Of
reconsructon finance and much besides and therefore,
devoyes all the urgently upon Mr. McCulOch to
shed some light upon tho ways and means.
The money market more active than during the
previous week, but the supply of loanabe funds
equal the demands of borrowers, and it closed
easy at six per cent II is not incorrectly
supposed that the interests Of the Treasury
call for continued monetary ease; and although
considerable amount Of currency has been withdrawn
the wool crop and the New England banks, as
yet in the transition state have not received their full
quota Of currency; and have, consequently, for the time
being even less to lend than they had under the State
system, there is no danger Of stringency.
The gold market has been inactive but 1rm, notwith-
standing sales Of surplus coin by the Treasury and the
absence of any important demand for export Cash gold
commanded at intervals during the week 132 1-16,
and IN exceptional per cent per day, but loans
MARTIN into and ha
market closed easy. Tae extreme quotations the