New-York daily tribune., 1865-10-26
WEDNESDAY, Oct. 25-P. N.

| "WEDNESDAY, Oct. 25 p. NJ
Gold is heavy, and tends downward. The open
ing rate was l4e selling down to l45s, and closing
at l45i The Sub-Trcasury paid out $4,000 on
account of interest to-day.
Government stocks at the Board continued in de-
mand with moderate business. The 7.3Os were
firm at y cent advance. Railway bonds and
State stocks neglected. and could not be sold In
large amounts ct the bidding rates.
Railway shares we're feverish throughout the
day, but after the public board in the afternoon,
rallied, and were strong. There was special de-
mand for Erie and Michigan Southern common
stock. The latest prices were: New-York Gen.
trial. 96iaN; Erie, 87saGl; Hudson River, lO6io
IO7; Reading, lI4l 49, Michigan Southern, IA a
~; Illinois Central Scrip l34al3il; Cleveland
and Pittsburgh, 7si a78.; Rock Island, 1929
1911; Northwestern, 3Oi S3Oi Northwestern
Preferred, 63I a63i.
There is uneasy feeling in regard to the future
Of the money market and long engagements are
avoided by lenders. The reduction in the currency
through the funding system has alarmed spectators
in all directions, and it needs nothing but persistent
action in this form TO place the Government in a
position TO resume specie payments. A very large
class Of banks which have contracted and stimu-
lated speculation in all departments of business,
the whole army Of spectators trading upon
borrowed money, and the debtor interest
throughout the country, are clamoring against the
conservative policy of the Treasury and entreating
for DELAY but TO their rcmonstrance the Secretary
should be deaf and continue the policy which will
soon restore the currency Of the country to an
equality with that Of the great commercial nations
Il the world with whom are in such close con-
nection The custom receipts warrant the De-
partment in funding a hundred millions more OF
compound notes and certificates, and the sooner 1t
is done, without waiting the tardy action OF Con-
gress, tho better. This mode of relief is open TO
the Treasury aud will be more efficient than any
plan Congress is likely TO sanction. There Is
no reason 10 suppose that the new Congress
will show any more courage in passing laws to re-
duce the currency than the Congress Of lS6O-6l
had in passing tax laws to prevent the use of the
food of paper money upon which people are now so
insecurely floating. If the Secretary will fund
$500, 900, 900 Of currency, and steadily oppose all
enlargement Of the National Banking law so far as
currency is concerned, he will shorten the road to
specie payments. If he does this, prices every
where must steadily yield until they are brought to
point where the plain legal tenders 500 1000
and the authorized National currency will suffice for
the whole Union. II would force the crops TO mar
kct as a first step, and no one would be found
hardy enough 70 speculate for an advance in the
faco Of d contracting currency. The inquiry for
money among stock houses at per cent continued
up to the close Of business hours. Merchants are
ready borrowers at Bank, and the best managed
institutions have quite much as they can do TO
provide their dealers with money. Few names
pass at the discount houses at Z per cent. Strong
names can be had at sac, and good at l0al2 per
cent.
| Exchange, under increased exports is dull, and
best names are quoted, nominaly, lo9 for 60 days
sterling, and l0si for southern bank bills. Mer
chants bills are lossi0si
Tho Now-York exports exclusive of speciel for
the week ending October 23 and since tho begin
ming Of the year. compare as follows;
1888. 1854. 1868.
For the week ~, lt6, i79 s212s,slO S3UsbC2
Prev. reported lee eco COL l79s6a sos l27 1s3 lO7
Since January l42 49, 7s0 ls2 5S43 3ls 1872 79 100
The New-York imports compare as follows:
1868. 1864. 1868.
Dry Goods ........ sLl39,7o3 e1s63ll s3iO3,6J2
Gen. Merchandise. 2,p7.7ol L5sesA 27O9.22
Total for the week s3477.4H s237sa25 teIla.s77
Prev reported. li2 32o lsS39o 700 l3olol no