New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-06-27

TUTsDAY June o6-f. NJ
Sold closes at J6 The extremes Of the day have been
fs4ial57.
Government stocks continue firm with moderate sales.
IN Railway mortgages and State stocks the transactions
ere small at former rates The small neglected
snd hardly enough done make quotations. In the Rail
way share market the chief interest ceners IN Ere com
anon which, for the moment is not abundant for delivery
end advantage taken Of this scarcity 10 put up for
turn" The Western shares neglected and
san be borrowed in any amount. After the call,
5e sold up TO COL but broke again. At the Second
Board the market dull with the exception Of Erie,
which IN good demand but broke after the call TO
ssi. The closing prices Ohio Certificates, q 2l
Canton 1851; Cumberland Coal Az As; Quicksilver,
AS03sl; Mariposa Preferred "a S22; NewYork Central,
pe09s!; Ene 59ya6O; Hudson River, llOi; Reading,
10i SlO; Michigan Southern, 7sl S7Sii Cleveland and
Pittsburg g asst; Cleveland and Toledo l06I; Rock
Island, $50 a94 North Western 9i a3Oi Northwestern
Preferred, 5eIS5sii Fort Wayne, s3l. -.
Money abundant on call at per cent to good bor-
sewers, and at any reasonable be had mis-
eellaneOus coateras Upon Governments 4per cent is
ssseD. In Commercial paper no change. The small
sount Of really rst-elass bills Offering is taken at low
ssses, 5a5l per cent, and 6S6l for good
Kxchanges steady the following quotations. London
crime bankers 60 days 1881 O9 London prime bankers
sight ll0l SllOl; London, prime commercial, nominal;
all S5.l0; Antwerp, 5l5S5i2!; Swiss 5.l5a5l2I;
Hamburg 96is3ei Amsterdam, 4Il Frankfort, A. Bre-
spen, 79i; Berlin, 1914.
The business Of the SubTreasury was: Receipts,
e2,12,sO3 esfor Customs, $43S 900; Payments 1884,
80 o5 Balance, $9S 453 2S5 HGold notes. $3.50 900.
Freghts: To Liverpool, 500 bbls. Petroleum at S.,
$1,000 bosh. Corn at 404id and per steamer 60 hhds
SsAow at l2s6d
The Hon. Amass Walker has recently published an
ssaiee which he argues for the conversion Of the
Soyernment bonds into issue not exempt from
general taxation DIR. Walker thinks it better TO pay
higher interest than adopt the policy Of exemption
He main that the exemption creates class who will
vote for expenditure without having to bear the burdens
tst it will create influence against the payment Of the
Sxiseipsl Of the debt will cripple the industry Of the
ssuD1y by absorbing Its wealth into the Government
eebt and insurng the return Of bonds from abroad and
chat IL 10 altogether unnecessary.
Gold continues 10 advance TO the damage Of all legti
nate business but il does not stimulate Congress or the
Secretary Of the Treasury adopt any measures retire
tAs uperhuous paper money upon which the gold specu
tsoBs mainly founded There can be no permanent
6sclne gold until reduction is made in the volume Of
tks currency and the this fact is recognized
eeed upon the better AS contraction is inaugu-
saasd the National banks will be in trouble for it is known
shss they widely expanded, and unable to protect
themselves during many days Of contraction They seem
song in legal tender but it is in compounds" and tenn
Doxsy loans to the Treasury considered legal tender
With the troubles Of overrsdiDg banks the Treasury has
nothing TO do Its business is TO return the notes in
which their circulation is supposed to be redeemsbe and
% let them get back TO state Of reasonable soundness by
such ssebees may be necessary. The sooner stops are
tAkeD by Congress TO stop the bonus Of $s 900 in gold
paid to the banks for circulating currency in all respects
1n5enos in public estimation to legal tender the better il
w be for solvent traders and the industrial enterprises Of
che country Too much time has been lost In funding the
currency put in during the Rebellion, and the absorb
ing power Of long per cent should be tried once II
w1n hura good many people who have oyerTsded, but
enc number TO be hurt will be small present
CbefJusce Chase in recent letter to Gov. Smyth of
Hcv-Hampshire says: C.at.
got money and ali that was needed in the worst times
% short eontrolable loans subject to National taxation
"Seereary Chase got his money in the worst times"
BY forced loans, AID rarely during his term Of Office by
paying its market value. The plain legal tenders were
forced loans and were the compound notes. The GER
nfcates Of Indebtedness sso another kind Of forced
oan ard the 1905 sold by using the arts of the
pssens medicine people. and by paying round price fcr
seeu sale The 1910 loan failure from the start and
% 10 now apparent to all sound financial people that
tAe short controale loan system bywhieh the Treas
MY was kept running during the Rebellion is the great
obstacle 70 the resumption Of specie payments Secretary
ehae rsted 70 the utmost the legal tenders and
poy bees oil LIS Predictions % 10 theS damaging effect