The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-12-23
WAsHIN GT0N.
wAsaroros, Dec. ~, Aso0.
The Finances.

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wAszroros, Dec. q, A.oo.
The Finances.
vna Dolcy OF the Secretary Of the treasury Win TO
- ~. contraction Of the currency will not be
faIN sustained by Congress- ne WIZ 20 hn''see
A. A.. amount which he Is allowed 70 contract and
49, ,.,,on., bank paper will be increased probably to
~, s.ma amount as the volume OF legal tender 10 d.
,,shsa This seems now the we'll settled opinion IN
,ha higher financial circles The power OF the national
serts n yery great and is deemed impractcable 70
prsvent their success in any reasonable plans wncn
nav may unite upon For this reason any attempt 70
puant their issues by United States notes or plain legal
tenders will probably fall this session
The Governmens Sales Of Gold.
We have again the rumor that the government IL sell
sua gold and the price % consequently on the decline
rms will again unsettls tho markets Of tho commercial
centres and will carry pain anxiety 70 the hearts of
rany business men Now this Of any material beneHt
a tho public or il IL advancing the interests Of any
ono but that grasping class Of men known In Wall
street as the "bearsn and Of those importers, who
have sold the products Of foreign conries in our mar
kets and preparing TO gather up andcary away
their profits in American godf II gold was relatively
higher than articles Of commerce which are daily
bought sold In the commercial centres Of the coun-
ny then there might be good reason for the inter-
ference OF the government in keeping down the price
But Ms /. is VIGOROUSLY lower In price than nearly
anoher articles when compared with the present paper
currency Of the country, the depress it's cur
value the greater the bounty We offer 70 foreigners
70 supplant the producers in country and the
more difficult IL will DO FOR the home producer 70 COM
pete with the foreigner who offers hs goods IN our mar
kct For instance foreign importer can SOIL hs pro-
met in our market for twice the cost price, In gold and
he can take his p-enbacks and buy the gold again, say
a thirty. 40 per cont premium, he makes q much
.rrer profit than If gold selling hundred and
.4~snty-nve or two hundred; and the inducement TO
eepa his products for sale in market much the
xreater and the supply which he will be induced 10 send
will be greater for he undersel the homo pro.
duceT all the tine For instance, with the volume Of
paper money currency three times large II
before the civil commenced il is notorious that the
cost Of labor and Of nearly every other item used
IN production 10 at leas. twice what IL was
before the war commenced, and twice what the same
items would cost in other countries where coin is the
currency Hence 10 produce the article the homo
producer will pay two dollars while the foreigner pays
but one in CON- And now, whom tho articles equal
Ahe foreign product viii bring the same In grsenbacks
that the homo product will that, while the homo
Dsoducer has to employ his two dollars again in paying
for the different items OF cost in production the foreign
producer rcsupply his article and have thirty
difference In exchange, &c; for two dollars in green
backs win not him dollar and thiry-three cents in
8nelsh coin, while thecost of reproduction is but
dollar In the same COIN Hence by this artificial de-
preston Of the price OF gold offer bounty Of thirty
three cents the dollar in coin to induce The foreign
producer to bring his articles to our market
IL this sound financial polcy' We think not. And
NO should prefer to see the gold MARKET ike all other
markets. e 10 the natural lave Of the ordinary supply
and demand. -~Aaass L. s'-.-'--
Financial Items.
~ The fractional curreny shipped during the week
eading today amounted i've hundred and
forty thousand dollars, TO tho Assistant
Treasurer Of New York 500 -; to New Orleans
eSoo COZ; to United States Depc,.tory, Louisville,
$4,000; to national banks $24o,0oo. Tho amount
~ fractional currency received from the printer
during the past week $a5o 40 and the amount re-
deemed and destroyed the Treasury Department was
942s,s0o.
The amount Of na,ionn, bank currency Issued during
che yeek ending to-day s1ee.e3o; making the total
,ssu 10 date $500 COL From this DO deducted
The Currency returned including vermont notes, amount
ing TO g. 1873 49, leaning actual circulation at this
Sase $29s, 307 SEQ
The held by the United States Treasurer in
Hurt for the national banks reported to-day,
foilowsFor circulating notes $40 ESQ $50; for Do
posis Of public moneys s3s as3 $50 Tho receipts from
shis source to-day sAss,1s4 12-mskine the total
ss4 II ~ : ssPs M s' S.:sss Minister
y. Berthemy, lately appointed by the Emperor Of
Franco 10 represent that nation in this country.
arrived here from New York this evening,
unaccompanied b. any bat a servant
BE was mot al the depot by members
Of the French legation, who escorted him to Wizards
Hotel where he will remain for the present He will be
AAxfxt
The Mexican Middle.
the sex'e~a question assumes q now phase by the
arrival OF the new r.anch Minister The Mexican Job
Uera are entirely at sea cono.ng the policy which the
French Minister is instructed purs~ The presden,s
original solution OF the problem about MeAs.an aairs
may be carried The Of sherman ana
Campbell is Illuminating There cannot be doubt but
shat the government will take such viii
vDdcate the position 1t has assumed in regsrd-to the
Monroe doctrine. proclamation from the PresIden.
On the subec, among the doubtful measures the
government will presently pursue.
The Contracts for Indian Supplies.
The plundcrers in the Indian Department contracts
have found difficult officer 70 contend with In the per-
soc q the nsyly appointed Commissioner. Mr.. Bogy.
when Mr.. Bcsy entered the ofhce no found ring Of
iron clad specuiato moulded 10 the business Of fleeing
both the government and the Indians This ring no re-
solved to break up. and in doirg has brought down
spcn him the vengeance Of tho whole gang Of cor
sup, lobbyists and department jobber Mr.. Boey
ssiscts his goods - per sample and a. best
suited V the wants OF the Indians. In regard
- PRICES, a. he 10 not restricted BY law to
ssy Specific standard, he buys for the Indians ~
ne would buy for himself The supplies for the Indians
amount 70 about million a year, and heretofore the
susinsss has been conducted in . manner not only 20
ssaspsrate tho tribes, but a. tending to impress upon
shem the idea OF want Of good on the part OF the
United ststes government Hence the many murder
asd massacres upon the plains.
Expected Return OF General Grant.
General Grant In expected TO return to this city this
evening Dispatches from him received yesterday an.
noanced that he would be detained for several hours In