, 1865-12-16
FINANCIAL AND COMMERCIAL,

~ =. FHIDAI EvEHtas, Dec. IS.
IT, tesnissna, detpatcnes rsostved thls a,ter.
nadn fsom WashinQts4 Inform n that thu 3ee1eta-
n Of tie Ite.zu.y, anss The issua oi h6 report,
has good reeson to beltave that tha expenses OF tho
VIZ Department, dnring the yeax ending Jane 80
NAT, vii not xtnosnt 70 Thing nks the estimates
made. According 10 the repxt, The probable e1-
pspdftuYrs OF thi, Department were placed 6t f3-
CO., Co., and IN consequence OF this, tho estnmsted
toial expenditures Of tho Government exceededt1e
probable receipts BY S11s oo0 900. But now, We nc
informed that the Se1etazJ OF tho TreeaurJ Il con-
ddent that' be Will b 'abte to make "both ends
meet" This year, without = further loan and
Without increasing the National Debt 1t
viii be also reeollected thst Secretary
McCulIoeh, m has report esttuAted that
The receipts would exceed the expenditure next
year by Sill COX, 0o0..- From the we'll known eau-
ton which charscte1izes Mr.. McCulloch. ne have
ro doubt hut he has, In most instances, over-ead
mated his expenditures and rnder-estims3ad his re
ceipts-in which event there would be quito mate
rial dim,nu.ion OF the public dsb{ en- the 30lh Of
June, 1867.
Under these circumstances he may be ensbled 10
commence to cary ont bis policy OF contraction
sooner than bis report would indtea1e; but stiN
have no idea that be will fnAugurate xny change
which will work d,.astrousy to the trade and CON-
ueIce Of the country. He will more slowly bnt
su1ely.
Tbere Is nothing new to note In financial aaa,rs,
The money market Is gradually working clo.er, In
anticipation Of the quarterly report OF the Naional
Banks on the drEt Monday In Janua1y- Fortunate
II the demand for money ts not increasing, and the
srngency a not felt to any great extent 1cep: by
partles who hare been heavy borrowers at the
hanke. and Who require extensions. AZ rule. the
bankers are refusing extend their discount lines
but there Is no great difficulty experienced In p1a-
tius A paper at ten per cent per anuum- As has
been the case for two months past the demand for
discounts cones almost entirely from the rnercan-
tile trade The grain trade Is quiet, and money on
the Board OF Trnde Is much plentier thAn at the
banka. Private capitalists are advancing freely On
R7n1n With safe margins, At 10019 per cent per
NUN. Second clasa mercantile paper Is discounted
On the etzeeia at 1H92 per cent per month. Tha
bankers will not LOOK at such
The demand for Eastern Exchange still keeps
ahead Of the supply. and the market remains firm
par buying, and 10 premium selling. As nearly Ill
The banks are expressing currency to New York
daily 10 meet their drafts, there Is good demand
BY them for ronud lots at a premium OF 65975c per
thousand, and tales wete made to-day as high as
e0e.'
:, Ahnoat the only thing 10 mako Eastern Eschauee
ut present il live stock The Provision trade has not
1isly opened YET and mill the receipt Of Hogs H.
crease quite materially, The packers will not begin
work; and the shipneuts Of Product viii be
t1idlng.
ahe Grain markets still tend upwards. To-day
Flour adyanced 109 l5c per barrel. Wheak advanced
1R1Ac. Corn was drn. Oats were unchanged.
Rye advanced 2G2hc per busheL Barley was quiet.
Highx1nes were quiet and unchanged. Provisions
were inactive and prices nominal.
Gold rn1ed higher to-day. without any apparent
cause. II opened in New York to-day at 146sf, and
closed at l46h. Tho following aro the quotations
telegraphed to James Boyd & Brothers, eold.bro-