, 1865-04-06
FINaEClkL AND COMMERCIAL
MONETARY.
TEDxEsnAT EVENING, april s, 1sG

wEDyEsnAT EVENING, april s, 1865
Notwithstanding the (nll OF Richmond, and the
disastrous retreat OF the rebel army, gold con
unues to advance, much to the astonIahment Of
the public generally. "What Ii sending gold up?''
-"Is there any bad newaf af"-h1ye boen leading
questions in ere.y circle to-day. But no "bad
news" az1lved-not cren rumor, and still gold
Advanced. opening at 145 and closing at 1854. At
the present writing, the only reasonable soln-
tion Of the matter ts, tat, In apecu-
latve phratcology, gold ,s "cornered-"
When gold went below Its, there was such
m attraction IN selling short," that the crowd Of
operators who are usually buyers, went over 10
the then Winning side, and sold heavily. In this
way the markets al. over tho United States have
been I" oyersold," and I" cash go!dr has been very
scarce. This was the case in our market about
week ago. when eales for present delivery wero
made At range Of 3G55per cent ADORE .ales made
fer delivery in week or ten days. Such Is re-
ported to be the state Of afrairs IN New York to-
day, and it IL not At all improbable. The truth Is
merchants all o1er The country have
been carried SWAY from the natural channels Of
trade into The whirlpool Of speculation, and 10
almost every department OF bnsluess they have
oyert1aded. This Is true Of the grain trade, Of
proyieions, and e1en Of dry goods aud groceries.
Instead Of buying and selling for Legitimate de-
mand, merchants have been Operating for rise
OF fall in the gold market-they have been Bpccu-
listing on the chances OF the defeat or the arc-
cess Ut General Grant and his army-on the
fall or rise Of the Republic. OK course it does not
follow lhnt all merchants who have beeu On the
"bullt' side OF tho market have held disloJN SEN
tinents they have only been poisoned By the
nalaria that has swept acroes the country from
Richmond. Neither Is 1t true that all who have
been operating for lower pzices were loyal-theJ
may bav only been hedging" But the entire
thing is illegitimate, and the sooner the crash
comes which will put an end to It, It will
bo better for all concerned. We have ar
rived at q point In the aubjugauon.' OF
the rebellion, where 1t II safe to calculate on
speedy end Of the war ; and every sound merchant
Will shape his course 80 rs to ho abls 10 bridge
over the stagnancJ In trade which Will probably
follow when tho country passes from war to
peace footing. Our readers probably recoltect
the dullness which ensued In 1861 after tho break
Ing out Of the rebellion. This Vas caused
By the arrangement Of the regular channels
Of trade. Alter the rebellion had risen to Its
full magnitude, Government became the chief
buyer, and trade reyived; and Notwithstanding the
war, cur merchants pros 3ered beyond ali psecs-
dent. According to tho same Law, when the Ar
m1es Of the United States arc d1sbanded and Gov
cinmen: ceases to be good customer, ths chan-
nels Of trade and commerce HiQ again bo disturb
ed, and nc will probably have another period OF
staEnation. The rebound may be less on account
Of the ittrAcuon which the United Stat.s will
have to Europeans after slavery Il abolished, but
every prudent merchant ought to provide for such
contingency.
The money market remains close ind stringent.
There was q moderate demand for currency by
produce dealers, but there are very few OF the
banks discounttng paper, and this class OF bnn-
ness We. monopo1tzed by the street brokers at II
@e} per cent per month. Call loans we're easy At
10 per cent on good coltatcra!s.
The market 70. Eastern exchange remains firm,
and the rates steady at par buying and prem.
selling.
Gold opened In New York at 148, and closed at
Up. m. at 1881. The following are the quotations
nj $o .Tar,as Hny6 n1i&brofyeF.