The Indianapolis daily herald., 1865-12-13
Monetary Statement.

NTw YORK. December l2.-Thc CONNER
eiai : money article eontsins the following:
During the present week the sub-treasiiry viii
pay out a considerable amount of currency, a
interest upon the second issue Of 30 notes.
Al the same time the ISSUES of bank currency
continues to augment az the rate of about
Ss.VOo.pOO per week. and 80 long a any portion
n the S.go,OJ00.VoO authorized remains Unis-
sued, there can be no scarcity of currency he
yond few days. The real eali.e q apprchen-
sion % borrowers j. not IN the prospective
scarcity Of money. but in the prevailing indis-
position o. fund. Though there j. no anticipa-
ton q panic, vet that j. regarded a. a con-
tngency which may b. realized any day.
and every draw upon the currency, as
for instance. the failure Of = Few Chicago
grain Spectators excites the apprehension aud
in creates the timidity u funders. The prevail
ing disinclinatiOn TO discount commercial
paper must have the effect Of producing re-
action for the recent expansion Of credit, and
tl4e consequent restriction Of business Nor j.
there any ground for anticipating relief from
such condition 90 long a. the country ~ sat
ished with an unstable currency, Assurances
of the Government that We shall have the car
licsf possible return 10 a sound basis, only az
gravates stagnati0H Of capital for the proposed
measures, for gaming that end excite. more
fears than they allay. To-day there Is an ample
supply Of money on call, even at par cent,
This l. somewhat remarkable, cOnsd-
ering that the Treasury Is stll with.
drawing large amounts or currency
from circulation by selling gold, and that banks
are remittIng currency West. The circum-
stance can only be accounted Tor upon the OBJ
sious fact that while large amount OF bank
discounts are now maturing, there L. little dis
counting AZ present being transacted. Prime
bills range at 5eL9 per cent. only very select
names going at the lower pate. 4 class Of
names, ordinarily considered good, arc pass,hg
al lO9 Il per cent.
Business at stock exchange il, upon the
whole, dull. The chief transactions were i'm
using the discovery that company has de-
clarcd dividend Of ten per cent. and not Of
ten per cent. cash and i've per cent stock. as
expected. has produced heavy sales and
a decline Of hye-eighths from closing
prices Of yesterday. stocks ranging from
ten 20 sixty days are being put out freely.
Governments are active, and again a fraction
higher. The recent demand has produced
steady demand from speculative institutions
and individuals. The gold market exhibits re-
markable firmness. Yesterdays sales were es-
timated nj Sl,jO0,000 10 S2,00,OOO the total
amount sold 10y Government since Wednesday
morning Is supposed 10 be near o.. 900 900, by
far the most important fuctuation Of supply
within such period since the suspension Of
specie payments. and yet the premium stands
stubbornly at about li5. Nor is II bolstcred
up 10y any speculative operations. This extra
ordinary hrmness produces an expectation Of
an advance in the premium when the Govern
ment has concluded its heavy operations
During the day prices ranged from l4is.@l45.
and closed at l45.