New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-03-09
-,o-, .,ovca The TEMPORARY loans to be sl5,oCoOcO

IN excess of its cash in hand with income ID e1-
cess of expenses Sufficient to make 1t certain th"'
no loans for the current expenses OF the "O'-
eminent will be required Cor the fiscal year, leaving
the Secretary free TO proceed with the fundihG Oh
tie currency debt. Now that money is reported by
spectators as easy and abundant 'he "o'I,'4'!
should proceed to get the compound noteshto d. s.
and keep them constantly before the puDnc as long
as thew can be retired by J-Cs at par in exchange
G,rthe conpounds with their uedinterest These
notes have ceased TO be currency, and no time
sbould be lost in offering inducements to thcf
holders TO exchange them for gold-bearins bonds,
and make it certain that at maturity they Il LOT
have TO be paid of in currency, 10 tie injury Of
Legitimate business. Ii the Secretary viii announce
his readiness TO exchange 5-l0s, ex-cogpon, on the
list Of May for compound notes and 80 notes WIN
accrued interest 10 that date and allow the Natonai
Banks the commission authorized by law of ia Il
per cent for their labor a very large amount Oh
currency debt can be pat into long bohus'
and the Treasury BE- materially aided. The pay
ment of q commission is essential to the success
of any funding plan, as will DC apparent to all VINO
consider for a moment how the 7-i0s and com
pounds are held, and how the '}Os were distrlbu'
led. Tley ucrc taken 20 crerV mans door, ana a
commission paid for this service In orierto elect
an exchange of long bonds for short debt as much
trouble must be taken, and 4 compensation made ~
the brokers to effect H. This plan is simply the ex-
change of a short investment for a long one and
involves no contraction of the currency whatever,
except tlat which might be caused by banks eX'
bold d legal.
tender into bonds.
The Chicago Republican of Monday night SAYS
Tic decline in gold is causing good deal u a.
presSion IN the general markets ana tn'h's III t'hc
circ.es j. very dM BgtcIs fTe haslF on 10 the
extent If supplying imn cdiata wants. The inpres" h
seems 10 prevail that gold viii decline 70 100 and .
ur her depreciation in all CONNIE dlti"s N IIohue" ahu
merchandise Is anticipated. TIE money market IS close
and firm. tn, BANKERS are PURSUING yrrh cahil"Ns
and conservative course ard IA ell cases r!us" 10 y &c
ri Il discouut aly paper which is not hrs-eilss Al
vances on produce per are made only at vide d ~
Gins TIE current lale Of interest Is 10 per cent. ga
the street money is loaned at a. per cent per month
Tie Ner-Orieans True Delta of March i re-
Iports:
Foreign exchange has been dull md neglected
throughout tie Cay. The merSet as lHeto'me was
arupv snuried while ne demand " az NJ time much
better tha nominal most e the principal BUYERS hay.
ing sun p ~ the maTket The closing rites ms
eyeniI riicd ~ Lows, w Bank strinf
L ls ~
BIk Francs eli G1S and Outdoor Fran 80 s5d A9U
The movement IA domestic exchange has ASSURED
greater steadiness today All Of tie hanks with one
exception checked throughout on tie Noiilcrn tit's
At per ctnt discount and the latter reported s move
ments at u ? 10 per cent discount. The following is
tie New.Ol.eaus cotton statement for February %
1876:
Stock on hand sept l. 1865 (oales)... s3239
Received since Yesterday ...--....--. ltnl $1,000.
Received previously 5i3. 155-5f4''0
ca,g75
Exported since yesterday .......... LES
h. ported previously .4i3, 9J3-l+39is
Stock on land and on shir board no; cleared s2757
With reference to the market for American secu-
rites, Messrs Sattcrthwate g. Co. report as fol-
lows:
The business in the London market for American Sc
entities has been on limited scale hat with nnurncy
to improved quotations especially in United states
$40 bonds which close 6ei g. %. For linos and 20
shares there has not been any great demand but where
buyers come forward higher prices are demanded, snd
they both leave of at an sdvnnce over last week III
nos being quoted 76t 10 7G} and Eies % a. 81.
The low quotations for Atlantic and Great Western
note m Improvement Of 81 In Pennsylvania Section
First and New-York Second Mortgdfe
| Tie L0gdon Economist commenting upon the
reduction in the rate of interest by the Bank Of
England, says
The Bank Of France which 20 let slip m
oppor unity Of mir sering to tie wants Of trade has Il
tic same time lowered l. churre from 4. 10 4 cent
being still u cent below The rate clrfnt
here Finally today kilograms from Berlin Gpnu nuee
tho. the Bank Of Prussia hes moved iron q 10 u y
cent. The immediate motive for the change J., 81
course be uurd IN tue highly favorable chaiacie- OF
the weekly tank return. ana w below which II ih's
PROGRESSIVE iuug oil ia the bank discount hn lncss,
accOupa MED hy great increase IN the bullion ard
reserve Since the 9Th II January. when the advance
TO ( 4, cent took place the coin and bui.
lion have increased from G3 LOG ls3 20 9l3s22G 35-a
difference of 976 72 but the increase in toe reserve
notes and coiu) II larger, being 81 2r0 81. W.
from e. g7g 74s t. e. 260345 Considering these ~.
ures together with the inued a1w Of gold to tie
Bank the frmncss, thus far Of the cOrti entail ex
changes the tall which is taking place In tie value OF
money in all the chief European markets tie absence
of demand for silver for The Ens and the next Indian
colt n.sIppng season Is still some months 'n there
seems good reas1n TO anticipate further relief 10 orr
mOley market. The discount establishments have low.
cred their for money at call from 81 TO cent Tor
money at days notice FROM CT ~ 81 and at IA
DAYS notice from to G. The jpipt-stocg banks now
allow T. cent Qnstsad 81 SD for money an deposit
The tendency Of opinion with regard TO tie prospects
Of the money market 10 shown In the fact that six
months bank bills have been taken TO day at still lower
rate namely ca e cent 1t Is expected, however. tuat
there will he Temporary revival 81 demand t-mor
row. owing 10 the e1teDl 10 which merchants have Kept
lack bills rather than pay the high rates Lately current
At Pors and ac1ie the rate 81 discount ~ the open
market is "a y cent; at Amsterdam ard Berlin u al
Frankfort aud iusrels at Iu in and ST. PeterSburg
g. and at Vienna. y cent
NATIONAL CURRENCY BANK,