, 1865-03-09

Here. the Gold market was active and lower,
opening on the street at 1877, and closing at 1873.
The sales on the Stock Board were liberal, at 95i
Rg7-c1osing, In the afternoon. at the inside quo
tatiou. Silver L. dull and nominal at 1885, Govern-
ment Bonds were quiet. We quote: 5.2os at HOO
III; 10zos, g71as,
The money market remains uncomfo1tab1y
close, md business men complain OF the difficulty
Of procuring necessary accommodations. The
bankers. however, are dong all they can to sup
NV their customers at the nsual rate Of discount
10 per cent rer annnm but owing to heavy invest
ments IN County Scrip and the SeyeD-ThIrty Loan,
there Is a heavy reduction in balances, and the
discount houses have not the means to supply the
public a literally a. they desire.
Eastern Exchange remnins flrm and scarce at
par buying ard premium selling.
Cook County Scrip to-day WIS actt7o and buoy
ant, with heavy sales at s1@s54. The +'beart' In
tc1est is making desperate enort to break tho
market, but It Is largely ovezsold, and it closed
with strong upward tendency. Tho Superyisors
to-day passed resolutions authorizing the Issue Of
coupon seven Per cent bonds, one-thfrd to be pay
able in fifteen, one-third in twenty, and one.thtrd
fntWentJ;dye years. These bonds are to be sold
as speedily as possible, and the proceeds applied
to the redemption OF the county scrip, principal
and interest The passage Of these. resolutions
will doubtless tend greatly to strengthen tho
market tomorrow. 1t ts a noticeable fact that
nearly all the heavy buyers at present aro capital
lists, who will not probably ever ODER them for
sale again, but hold them as an Investment.
"A few doys since paragraph appeared IN our
columns, stating that there Was question raised
by some concerning the legality OF the
issue Of Wisconsin Banks. aud that
they we're consequently to Some extent un..
marketable. From the very best authority, We
have since learned that the issue Of these bondz
was strictly and truly legal IN every sense Of the
|. word. They were Issued, not for the purpose Of
securing the State bank paper, but to raise money
to equip troops In 1861, and the banks purchased
them ut par. paying zoe down, the bslaacc to be
paid In ha1Eyearly tnstal1ments. The entire State
debt Of isconsu is only s., 800 md the interest
has been promptly paid semf-annuaIly. Besides
this, the act creating the loan made express pro-
vision by taxation fer the payment OF interest and
principal when due, md also provided that should
the taxes raieed be insufficient to meet these,
every dollar In tho Treasury shall be devoted to
thetr redemption to the last cent.
The report that the Issue Of these bonds Was
illegal originated with the Copperhea ds Of Wis
consin, who in order to prevent the raising ol
money so Is to equip troops to suppress the re-
bc1lion, made speeches and wrote letters on the
subject; and 1t was partly In consequence OF this
that the Treasurer failed to sell them In the New
York market. This report, We understand. has
been often contZadictcd, but the mere Eais1ng ol
snch question has left IN Impression In the
mirds Of well-mean1ng people, that there really
was something In the Charge OF illegally, while
in reality there was nothing but Comprehend
mallgnfty and hate.
OF course this question Of the legality Of the
Issue OF the bonds does not in The least Justify
the banks in trying to force the
insurance agents. to purchase them
against their will. The bonds are GOOD md If the
bankers cannot sell them at par, they ought rather
to keep them Il. profitable investment, and thus
prove to the unbe1teyIng money-changers Of Wall
street. that they have entire confidence in tho
honor and integrity Of Wisconsin to pay every
dollar Of her debt; principal and, tntere.t But
the attempt TO legfslate on the suhfect-to force
people to buy the bonds at par, whether they are
wiling or not-has revived the old cry OF ilte-
enlty, and Jed many to believe that there must be
something wrong, when such means have to be
resorted to in order to create market for them
The money market at St. Louis ia reported
quiet Eastern exchange Is selling at t1} per
| cent premium. Missouri military bonds had de-
cltned = per cent in consequence Of Congress
having failed to pass the Missouri militia appro-
pr1ation bill.
Tho otlcla1 Foreign Ttade- returns for the
| port Of New York have been rendered for the
month Of JanuasJ-the drst month Of the third
quarter Of the current fiscal year. The Import en-
| tries Of foreign merchandise compare as follows
| with the month OF January, 1854: