New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-10-23
SATUN1fAY. Oct. PIP. n.

SATURDAY, Oct PIP. NJ
God is barely sustained. The opening rate was
146!, selling down 10 l45s and closing at lag. The
export Of the week was $il9, 229, making, sinco
January, $24, ,Ss7.
Government stoke sold moderately, and were
lees affected by the money fright than ordinary
speculative property. The 52Cs closed lO3 for new
and the 1905 at 97097t for the frst and last seres
Railway property, under scramble in the morn
ing for money among stock houses and general
railing Of loans, was lower, with large business.
New-York Central and Hudson River were excep-
tions, and appear TO be scarcerthau money. At the
close Of the day the following quotations were made
New-York Central, 95l09js; Erie, sbtaSi;
Hudson River, los q l0j1; ReadiLg l13i 0ll3i;
Michigan Southern, So 06ss; Cleveland and Pitts
burch, 7la7il; Rock Island, 1863 1861; North
Western, 29l 292; Northwestern, preferred, 62l
962,; Fort Wayne. 96096l; Prairie du Chen
54s a5ii; Ohio and Mississippi certificates, "6l "a
26i; Canton, 39l a39.; Cumberland Coal, 10. AL;
Quicksilver, AS o4si.
Money closed TO stock houses at sac per cent on
CALL and good many balances areleft idle at those
rates In the carly part Of the day there was agene-
Ial calling Of loans, some houses having every loan
disturbed. AS the day wore on il was found That
money was more abundant than several stocks, and
ut y. In there was as much .eagerness shown to
lend as there was 10 call loans at the commence
Iuent Of the day. In Commercial paper there is
no change. Best sells at per cent, and good from
& TO ~ per cent. The break down in prices has
greatly relieved stock borrowers, which is not the
case with borrowers upon merchandise and CON-
meTcial paper
The policy of the Treasury is contraction and
whoever fails to comprehend this new position of
the Government will find their schemes Of profit
disarranged. Forty millions of compound notes
aud certificates have already passed into funded
debt, and the $50, 000 900 asked for VIII be forth
coming. While the Government is destroying cur
rency recently used as money, the pacifcation Of
tbe South las furnished new employment for the
remainder, and in that direction many millions VIII
find permanent use. As National bank notes and
legal tendenare in future to be the money of the
country, there is certainty that the supply in the
North and West viii be diminished by the smount
required TO fnrls the South with medium for its
commerce. In some quarters it is argued that Con-
gress Will promptly enlarge the national banking |
scheme and authorize several hundred millions of
currency. Ii more is needed, which is not ihe
case II should be Iurnlsneu 10 inc COUNTRY IN the
existing legal tenders. These can bemade suffcicl
Nv funding q further amount forcing the crop 10 !
market, and breaking the bubbles Of speculation by
which all commodities kept above natural prices
and intrinsic value md checked in consumption. |
The Goverpmeu: has reached the point where il |
can retire the currency which It's necessities obliged
1t 70 issue and lover prices must be the result by
the natural law which forced prices mp when
the currency was n1gt ssed By constant addition to
fhe legal tenders.
Foreign Exchange is quiet. Bs az GO days on
london are quoted 1914 @iOs for documentary; 1854
2loss Cor commercial; 1921 d 1907 for bankers; do.
at short sight ll0ali03; Paris at 60 days, j.2I4a
5Hi do. az short sight, 5.l5a5.l2,; Hamburg,
3j, 1851; Amsterdam, 40l aiOi; Frankfort, 40s
0iC.; Bremen, 7Ssa79i; Prussian thalers, sOl
91li.
Froighis are dull. The engagements to Liver.
pool are: 80 $50 bush. Corn at GaGld. in bulk and
shps bags, the latter rate for lot TO I'll up; 40
bales Sea Island Cotton al lid; per steamer,
II. 600 bush Corn at d., and 200 bales Cotton on
private terms. 10 London: 900 bbls. Flour at 2s.
Tie busincss Of the Sub.TIeasury was: Receipts,
\, 66J IN 56--ior Cpsloips, }j19.o0o; Payments,