New-York tribune., 1866-04-27
THURSDAY, April 2G-P. NJ.

Gold closed at l2i and has been firm oil day under the
European news evident disposition the part OF
The bulls 10 make the bears cover their shorts before the
Nav interest is paid. For the Of cash gold per Mt
kss been freely paid.
The European news has affected Government stocks
fsvoraby, and the 1905 are lower. Certificates Of
indebtedness are also cheaper and for the moment buyers
have decided advantage. While affairs on the continent
continue in their present condition. the scheme for fund
ing oar currency debt into FIVE per cent loan uss wait
The Secretary has for long time been fearful that Eu
Korean complications would embarrass lis financial move
en, and now sees his worst ancipatols upon the point
If realization. He s now brought 10 depend upon the
beue market for support and must look facts in the face
n they exist Since the revolution the rate for money in
this country has ruled high and per cent may be taken
o. fair price for commercial loans, with much higher
rates upon enterprises such engaged in by farmers
snd small traders, who freely pay large extra interest for
capital The abolition of Slavery promises, at an early
day to create in the South demand for capital great
that which has marked the growth Of the free North
The old free States still new, and afford to continue
20 pay high interest for money; and if experience is
good for anything, il teaches that in the future;
ss in the past the Government will do well
borows its money Ct six per cent in gold. AS the
Government stands it must If it desires TO fund its
det make its bonds suit the market, and give them
sone quality possessed by existing bonds at per cent
even To insure successfukfundng, long bonds must be
sfered absorb the short currency debt held
firmly The desire to pay OF the National debt ct once is
moot commendabe but the first thing be done is to
set where the short obligations Say 81 OOO 0OOOO viii
not mature and call for equal amount Of legal tenders
aid indefinitely postpone specie payments To those
who desire pay the l0i0s, 52Os and the loan Of 1881
viii afford ample material quite much they will
eure before new 30 10 year bond will mature. What
abe Treasury wants is extension 81 600 0OOi the
question of payments will como mp afterward.
The Railway share market does not maintain the
tieme tuoyancy of yesterday. There was a sudden de-
nand for Illinois Central, and III paid The closing
rate l2ll Erie strong at the quotations, and
sash stock IL may be remarked that all stocks
scaIcer than money yet fail to advance in what should
te fair proportion TO the borrowing demand for them.
The small stocks are inactive GRd neglected Tho market
sin condition whore the movements of the Treasury
and the price Of Government stocks will control opera
ioIs. Nothing but plethora Of money 10 facilitate
tlque movements, can maintain the value OF money
shares which upon their merits investments arc selling
sLoye their value.
At the Second Board the maIkct was dun md heavy
and closed inactive. After the call the market slug
sish and closed heavy The closing prices were: Ohio
Certificates, 26la269; Canton SCI la56li Cumberland
Coal 4s AS; Quicksilver 52i 052l Nanposa Preferred
u a22 New-York Central 92i 092i; Erie 72i S73; Hud-
soD River, ll09ll0I; Reading, 1915 elNi; Michigan
southern s2i 082i; Illinois Central Scrip, 2lal2lI
levcland and Pittsburgh, 82i 9s2.; Rock leland 1880
~; North. Western, 29a29Ij do Preferred, 5si 95sl
} oh Wayne esl09si
sJopVoD Gil is quoted .aj p eeu; II Co'DmeT.