The New York herald., 1866-06-30
FINANCIAL AND CONNER clAL.

which recovered l6iz, the closing quotation on the
street There very active borrowing demand for
ooin, and hight supply under which loans were made
6tths y per cent per diem in favor OF The lender
Tho short interest is large, and as tho bulls retain
control Of the market there Is prospect Of twist
The engages attention OF speculafors next
70 the future OF affairs Europe and their effect
upon this country Tho proposed measure is highly pro
tsctive, ard in degree prohbitory. In framing Il
Congress has acted freely upon the representations
and petitions Of tbs New England manufacturers, and
the OF tho coal iron and other class in
teres,s throughout the country, and the result Is
that Q tann already excessively high 10 to
be advanced many articles OF luxury and
necessity TO q point which will prove oncr-
Gus 10 the consumers, who are the persons upon
whom ell taxes finally fall Al the same time instead
OF being productive than the old tariff It will
probably be less Tho changes IL makes are not IN
srcdaced from really dsinersstsd views of taxation or
patriotic motives but In order to subsce selfish inie
rests snd play tho hands Of monoposs at the ex
pense OF the people, Congress would bs far better en-
poyed In amending tho national banking law than
the tariff by making i an instrument for practically
carrying desgns OF protectioDsts. Taxation
may he carried such extent that II will become un
bsArsbe and strong party In favor OF repuda.
ton and against such State OF popular feeling the
government should constantly endeavor TO guard
For a reform OF the national banking system there
exists an urgent necessity The notes issued under Il
are an incubus have tendency lower the standard
ol currency To replace the whole of these with
loyal teud speedily possible should be the
aim as much the dn;y o. Congress- By tins
Q sound currency would be substituted for a doubtful
one at the time that the interest paid TO the
national banks the bonds deposited with the Trca-
sury As tho basis OF their circulation would cease
xlfh caIc
Moreover the power OF what threatens to be
q huge political Hnsncsi machine would be weakened,
and a host Of "wld al" country banks, which
nj pres nj many snarcs 10 unwary depositors,
would be weeded out of existence by tae salutary
measure adj ocate The subsidy OF nearly twenty
mill ous per annum and sti the increase, which is
pad 10 nauOua banks In the form Of interest, is some
thing which the taxpayer OF this country will not much
longer endure and view OF the oppressive burdens
which the people bear il is abuse that vergcs
upon outrage
With good legislation there Is good reason why or
credit should stand high and sccurts command
the confidence q The world; but with partisan Con
Srea. full q jobbery and corruption, Is hard to say
what may nol DO dons which will damage both at
homo and abroad.
rhs stock moderately active for the dull
sasou the Of Erie rather excited under
demand from the bears TO their maturing can
tracls Tho other speculative railway shares lrm
but quiet
Az tho carly session OF the open board Erie sold
o31 for cash aud esz regular catawssa sold a, 77,
oeveIand and rrusharg ssA, Northwestern so,s-pre-
fered Ssh Al the Grst regular board Erie de lined 10
62h, closing IA higher than nj the hapast two board
yesterday Reading Advan cd Y y. New York Central
showed decline Of X Northwestern preferred Z, Ohio
end Mississippi eeriihcaics " Quicksilver r. Govern
securities ann. Coupon Gve-t~cntes Of ls62
advanced ", thrd isns k sevsnlnirty notss were un
altered
Az the one o'clock sessions the market dull
and without material change A. the hafpast
two board New York Central closed Y higher than
., tho nr-i regular board Reading 4. Fro was per
cent lower, Northwestern ". Fort Wayne y. Govern.
n.ent securities steady. Coupon nvs-twenies OF
Ise2 advanced V; the third issue declined k
Al the open board a. hAf.pAst three the market
ks1 iowoE Erie sold ~ eix " Reading loox.
Cataw,ssa TO- Cleveland and Ps,sburg sax ~ North
western 20. preferred sex. Fort Wayne ssk X. Quick.
silver AK " Western Uaioa Telegraph sik. After.
wards the market improved fnosioa and closed firm.
me quotations AZ halfpAH ave vess,-New York Gen.
xai esA y. Erie 0iS . y. Reading iosS y, Aichi.
gan southern isx y, cisvciand and Pittsburg SAX
AZ, Rock Island ~ u. Norshwcsssrn 3oS x-pr,-
fsnsd ss1 4, ror Wayne esk . y. Canton - bid,
Cumberland AK. Quicksilver sIk.
Tho money market continues easy ~ four Ter cent,
with exceptions at ave The discount line 10 only
deraiciy supplied With nra clAas commercial paper.
which Is taken ~ per cent The Treasury has
dsbarsins In redemption OF oertincaes oi
ndsbiedness and tho Sub Treasurer In this city u pre-
pared cash them adding the accrued interest," pre-
seniaion, thus SAVING the holders here the trouble cf
sending the same TO Washington.
The foreign exchange market unsettled and some
what dropping Rsnkers' bills Eng and at sky days
werc quoted Al los " at three DAYS loeil iio com
merciai 100 i07L. fruncs a, sixty days So i2hc.
s Isc., short sight Sc s1c. as. lcc. Bills Berlin
nominaily "a rs, on Drcmsn 20 y, ON Fraah
fort a. a, on Amsterdam ssa y
Petroleum and a,iaing stocks duh and generally
soady At the board shade RIVER closed ioa shcr
than tie time yesterday. Consolidated Gogory
Gold was rs l1acr AZ the second board shade River
closed Toe lover than at the nrt board selling ~ 5sc
Eew York and Alleshany sold a ~ 90, United states
o. 10 Gunnell Cold 81 OF. Holman Gold s4c., Kipr
Buell. 81 40, Ada Elaore 80 rs
Adepaich from Harrisburg tral dAsed ss-serday 70
ports the a second charge of sessra C. V x
II Culver mcubcru Of the drrs 81 Culver Penn Co,
on charge OF obtaining ~cur'es from the state Audi
tor Generals cHe- ny fraudulent means The two pn.
soncr. re 80 tod entered ball before for their ap
pears-co Al the August term Of the pauph,n County
court In the Of fifteen and ton thousand dollars
Spccuvey The for the Issued a. the
instance of the yeHsngo Bank dsposi,ors.
fbs nnpotas'ons of arr gocds as this port for The
week ending June n compare a. follows With these of
the previous week.
--Ju.s a. -----.y.n> cs-