New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-11-28

general paralysis stealing over all departments OF trade,
unite to produce eesy money market call and hard
market for commercial bills. Upon cheaper money on
CALL there will be shown active stock markotr and
possibly higher prcos but they cannot BIO sustained long,
unless Congress commits the folly of enlarging the
National Bank circulation. and also takes from
Mr. McCuloch his present power OF funding and
paying the short eurencydobt Spectators for az adj
vince must not forget that they buying not in
the face OF increasing volume Of Currency as in 1863
and 1864 or as in the early part of 1865 with currency
nearly stationary bat against currency steadily decreas-
ing by the action Of .he treasury and that too in form
which force contraction upon the banks, and all
trading upon borrowed capital. Tho banks already
contracting and examination Of the hast statement out
will show that they arc now 10 position, whom at any
moment they may be obliged 10 mako large sacrifices to
promptly meet their deposits
The statement shows the banks be hard pressed for
loyal tender and in no condition to meet continued
drain.
Their circulation and deposs arc :.-.-.-. ttn6tG
Calling for legal tender reserve OIL 6@l00
Legal tender reported .....-.--.-.-...-.. o2b'2H
Surplus above Isenl rosorvo. ............... t651a
Any further drain upon them only be met by selling
compounds, or gold bearing debt Since tho year
menced the banks have reduced their surplus Of lega
tender 10 very large degree viii be- by the follow
ing figures
Circulation and Deposits Dec 90 1865 t907.gl5aI
Calling for legal tender reserves 3lsrtteS
Legal tender reported h'id1s'o
Surplus lesOl tender Dec % 1866. te3Lli
Surplus legal tender Nov ~ 1866 I6sl6
Decrease Of surplus legal touders l65sS
The banks are still too much expanded, and will
be scambng for legal tender to keep up their
This circulation is at the highest point and this, too
when the Treasurer calling in ts legal tenders by which
IL.
all poor, and at the next pressure for money with be
obliged 10 strengthen themselves by purchasing plain
legal tenders, by selling their intoestbesrng
Since tho commencement o. the year the position OF the
Treasury and the banks has been reversed. In January
1855, the Treasury hampered with short floating
debt controlled great degree by the banks which hold
the at their mercy Now the Treasury has no
floating debt which It cannot readily pay and no debt
maturing until June OF 1867 IL has the ordinary expenses
Of the Government and interest TO pay but beyond this
Free and in position 10 ~ own price for the por
ton Of currency debt able TO retire With tie surplus
income II has the ~ notes fund.- but tho Secretary
has at command bonds which he sell running
20 years at Et per cent? absolutely, g security
which placed In the market for 3Os would absorb them
rapidly the dew disappears before the sun In August
Forty Year, per high rates for money but il
would be smaller evil than paying the 51os In currency
II
rates less rates fail Unless Congress deliberately pro-
hbts the Treasurer from funding bis short debt sud call
ing in legal tenders nothing stop the existing
Iaent toward specie payments. Upon legal tenders
trading and speculation have proceeded until at last the
fabric drops fits weight sproved by the disasters
falling upon merchants manufactures traders and speou
ators in all directions Until IL is discovered that Con-
gress means 10 put on more financial steam in the form
Of circulating money people cannot be too careful about
getting In debt for the panic Of last week is not the only
one in store for traders upon borrowed money
Sterling bills are quoted 1921 by leading houses GO
days.
In Freghs early in the week, the market was very duh
and rates declined but At the close there is doing
and rates advanced The engagements 10 Liverpool are
100 bales Cotton at 3-l6did 10000 bush. Barley at
SD. 900 bush Peas at Sd li0Oo BUSH Wheat at Sd
and per steamer 900 bush. Wheat at I'd. To London
1900 bbs Flour at $1,000 bush. Wheat at I'd, and
Glasgow 49, 600 bush Barley Cd. 900 bush Wheat
Cd and 900 bush. Corn 3D. The business in charters
has been moderate and the supply Of tunnsge large.
The business ofthe Sub Treasury Receipts 81 40
96l 67-for Customs, {A6, 600; Payments $77I996 g.;
Balance. slO3,9l2 ,03i 62-Gold Notes, $4,000
The New-York Stock Exchange has practically repealed
all restrictions commissions, and instead OF
charged customers can make with their brokers
Stocks are bought aud sold by street brokers u sol per
100 shares.
Exports exclusive OF specel from the port Of New
Yorkto Foreign ports for the week ending Nov p, 1866
t3,i66,Gl.
Earnings ofthe Chicago and Western Railroad for
the third week in November:
1896 t225 355 1865 sos 9i Increase 90. $40 96l
Earnings Of tho Detroit and Milwaukee Railroad for the
week ending Nov. 22i
t15 Oh ls65...... 81 go Decrease $3.50
Earnings Of the Western Union Railroad for the third
week in November:
,6sH ti5 O3 Increase. IA
Earnings Of the Toledo Wabash and Western Railroad
for the third week in November:
ss12sl 40 s57 " Increase q i23 40
The number Of tuns Of Coal shipped by the Pennsyys
MIA Coal Company for the week ending Nov. "a, was
1896. 40 o4 1865 $40 Cj5 Decrease .466oL
The failure Of Dehon, CLARK & Bridges, prominent
house in the provision trade but recently engaged in
fpeculaoBs in cotton railroad iron, gold and stocks is
announced.
The Delaware, Lsckawanna and Western Railroad Com
pany sold to-day, hroughJ. H. Draper Co. auctoneers
10000 tuns Of Scranton coal The different va
rees Of he coal sold at decline varying from 10 cents
to q 40 tun-the lump bringing an average OF about
IS So the steamboat u 2 the crate 81 go the egg v5
the stove g. ~, and the chestnut s. 50 a tun.
The receipts into the Treasury OF Ohio and the disburse
ments theefrom for the past years reported by
The Cincinnati. Ga=ette az follows: