New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-06-19

The market for Exchange good deal unsettled, and
prime sterling at 90 days has been reported at 1O8 The
following the nominal rates: London, prime Bank
ers, 60 days, 1904 al09I; London, prime Bankers
sight, IiOl0I1l; London, prime Commercial, lO6l0
1914; Paris Bankers, long, 5.llla5l0i Paris Bankers
short, 5O7l; Antwerp, 5.l2l; Swiss, 5l2li Hamburg
37Ia37, Amsterdam, AZ; Frankfort, AZ! a43 Bremen
50; Berlin, 74ia75 %
Freghts are dull. The engagements to Liverpool per
steamer $50 boxes Cheese at 22s. Cd. bark was
chartered TO Bordeaux with Slaves, private terms
The business Of the Sub-Treasury was: Receipts
sa6l7769 39-for Customs $2jO0OOi Payments s333S,-
74 16; Balance, $92 940,7l6 53-God Notes. s25o,OOO
The rise in gold and the revival Of speculation in the
the precious metals should stimulate Congress TO take i'm
mediate steps to reduce the volume of the currency which
more than anything else fosters speculation in all depart
ments of trade The most eectual way in which this
he done is by amending the National Banking law pro-
nosed BY Mr. Hooper, far as reducing the circulation
is concerned and striking out those parts OF the Dist
section which allow $5OOOo0Q Of circulation to be
issued. wha; the country wants is less banks and less
cureey and the return of its specializing population In
Guiding many National bankers, TO some productive
industry If $4,000 900 Of circulation is wanted
in any quarter it be most proftably had by forcing
SIS 900 900 of existing wild cats into liquidation and
establishing new banks whereof such thing IS posi-
bethcv ara deficient in number. Redemption in the
Atlantic cities should be enforced without delay, and the
National banks be brought TO realize the redeemng fca
ture of the law" be put in liquidation. plain legal
tender Justly regarded in all parts Of the country as bet
ter than National Bank note, and no possible harm can
be by forcing banks too poor to redeem into quda'
ton, and giving the public legal tenders in place
Of their notes. The volume Of the currency would
not increase by the process and the quality
1T in
favor of winding up large fraction OF the National
Banks is found the fact that these issues have become
so excessive that they loaned free Of interest for to
IA DAYS 10 get in return legal tenders. The system will
only be reasonably sound when money is worth per
cent on call in NcwYOrk and borrowers satisfied to pay
this rate as rule This rate would not only give sound
ness TO National Banks, Ibut free the country from
swas Of spectators brought into existence by the issue
Of hundreds Of millions Of paper money An active and
dear money market such would attend the now nds
pensibe liquidation of large amount of paper credits
would make producers out Of idle middlcmen, and give
She Internal Revenue officers sounder basis for taxation
than is found in leyyng upon the profits of gambling
in gold and commodities stimulated aud kept alive by the
food of National notes
The China at Halifax, with London dates to the 9th
brings the following quotations: Consos closed at sea
s6 Five-twentes 6ii aG43 Illinois Central shares 750
| The Cincinnati Go=ette Of Friday afternoon says:
Some OF the banks gained day and the under
the market indicated easier feelings but
the discount continued show market and
way With the pethofa Of capital in the East the Western
markets must soon ease The wool crop is moving
apd this will draw into the channels OF trade large
OF currency Aside from WOOL however this section OF the
counrv has very little produce ship scaboard Ohio
has been for time importing wheat and hog products
are on an average high here New.York Our deaf
ar, are finding Southern market for their stock and while
nrces al New Orleans maintained but little attention will
| be paid TO New York prices.
railroad freight convention is to be held in this city
! on the 9th inst.
| The Chicago Tribune of Friday, remarks:
The hanks 10 day were moderately well supplied with
and the market less stringent than for
DAYS but close and borrowers have
dcnty in getting good paper discounted The bankers
cautiously present they are inclined 70 contract
their discount lines rather than to extend The bank rate Of
discount Is steady at 10 cent per ennnm but the street
rates rates rule firm l0I cent per month The demand
for Eastern exchange to-day quite active ana we have 10
report better feeling among holders and imer market
There was fair supply the various banks but owing to an
supply of currency there but few sellers below
mar few round lots sold among bankers at LlO dis
count but rates were steady at t9llo discount
| buying, and par selling.
The following will chow the comparative receipts OF
fouy sDd grain OF tie ports Of Milwaukee Chicago,