New-York daily tribune., 1865-08-12
FRIpAY. Aug. III. ".

0C!u Optucu ifiz, ANiA W ttNs ~4'N N.S'~N ~
lp. 1t is understood that considerable gold has
been sold by bull speculators who have lost eoni-
dence in their ability to advance the price,
Government stocks, upon a moderate business,
were lower, the 7.3Os touching 80. The misccl-
laneons stocks were lower and neglected. Rail-
way shares opened steady but soon broke down
aud were freely offered. Erie sold low as 81,
rallied to s5s, and closed at s64 AT the Second
Board the market was dull and steady, with but
little disposition shown TO operate. The market
closed dull and steady. The closing quotations
were: New-York Central, 92l; Erie S61 Hudson,
ll2I; Michigan Southern, Co., Reading, lOGI
Rock Island, 1889; North Western Preferred, 62t.
The supply of money to brokers is fair at 641
per cent but little is done at the lower rate Some
benks are not supplied with plain lega-tendeIs
and eompound-interest notes with eight months
Interest have been used by leading institutions TO
pay their balances at the Clearing Honse. These
compound notes already feel the effect of demand
for money, and the premium upon them has de-
clined 70 iGl on December notss, and 3 @3i upon
June notes of 1864. At these rates they pay the
holder per cent per annum and are justly favor
ties with investors Not only is q decline shown
In compound notes.-the funded debt and scrip is
sues feels the effect of declining gold and
dearer money, and quoted lower
the last series Of 7.3Os selling at 99 Ii is probable
that the funded debt, the 7.3Os and the whole Sc
sies of National obligations will in future be lef
10 share the fate Of the general Stock market. Tho
Government has ceased TO be a seller OF securities
and has reached point whore it can turn its at
tention TO funding its short obligations and de-
creasing the volume Of the legal-teDder money, by
which all banking and private credits ere now re-
deemed 1t is matter of small consequence with
Che Government whether the loan of 1881 sells al
l03 or l0S, or whether the 5.2Gs sell over par;
but the Government is damaged and SC
Is all ordinary business, by high premium
on gold, and the consequent arrangement
Of financial affairs. All solvent people and all le
gitmate business will be promoted b. decline il
gold and a contraction of the currency, and The
sooner they are brought about the better. The Dc
partment has the power and the inclination &c
make o steady and healthy contraction, and those
who suppose that the Secretary has abandoned the
idea of the resumption Of specie payments viii dis
cover their mistake Notice that $50 GOO Geo or$l0O
0o0, 900 Of god.bearing bonds could be exchanged
for compound notes at par and interest, would soon
show all who have deridcd the lcgal-tenders their
mistake.
The traffic Of the Atlantic and Great Western
Railway for the month Of July was:
1855. ..s5e5 523 1864 ..s332 o9s Increase .eo62425
Exchange is firm, but buyers arc not disposed TO
operate freely at quotations. Bankers Sterling,
60 days, l0Sa 9lo9l; Bankers Sterling, days,
loet; Merchants, l07I 0loS; Francs, long date,
S.l7i05.l64i Francs, short date, 5.lG4 05.lj.
Freighis are quiet. The engagements TO Liver
pool are 5000 boxes Cheese per steamer, at i0s.,
and to Bremen 80 hhds. Tobacco at 25s.
The business Of the SubTrcasury was: Receipts,
ti,29l 4J 90-for Customs, $500 900, for Payments,
e7,2IO,764 72-on account Of Loan, $l2I 600; Bal
ance, SIS, 8,io6,92O 81.
The receipts of canal tolls, from the opening Of
navigation to the LIST day of August 1865,
b