, 1866-01-30

"a London letter 10 the Nav York Eoser,1rn5a<
aatftaeF Dy tne Asia says, while explaining the
difficulties in The Eueltah money market. that:
an Impression has gained ground ihat the SHIP
me1ts Or manufactured goods to New York hnse
| iateY peen OF reckless description, md thss
credits hHEe been granted to Many firms On your
s1ae Nho DO not occupy position 10 justify /"
| -Ihe New York CoNtHeTril ddreftiSer ptafrs
that II good m1ny renewa1a OF notes, In connec-
uon Win the Western trade. ara reported, which
adds 10 the prevailing cautiou.+ II the New York
merchants were not 70 push the1e stocks or
GOODS to Western buyers on iouR credits, shey
would not have anxiety about .1weztern b1lls.''
In New York, money on Gil IL easy At DEE
cent per annum; but paper Is discounted 1t 4 rnnce
Of 6hG7s for prime. and us for good to second
ciass names. The New York Ep<RtHg Post OF Fta-
Gay, esys that there u very general canton re-
steefpK the *faudlnG OF paper. The financial siku-
at'on In England begeta slight apprehension OF
possible trouble On ibis side, and buyers o. paper
give Decided preference for 4 names ut the low
est mics Of Interest,"
The New York Er1tno epss sta.es that a sub-
steu1e bin has bern prepared BY IN emineut New
1osk fnancieE. md tent to Washington The nnce
apprehended deficiency Of 500 00 00 tn tbe current
fseai year, IL. By this BILL separately provided Gor
BY authorizing the issue md .a1e Of $40 bonds.
1he main BIN authorizes the Secretary to tAspe
bonds- having ihz1y years to run, and bearing n
1 cent interest, and to exchange these for The 1so
notes. compound notes, p cant legal lenders md
certificates Of indebtedness.
~, provides for ever, thine except sor tho teupo
s7r{ 1osns. Which are ths depoaits oy todi.daais
Clearing House certificates and .or the non.iuferest
2eaIlnS leRai lender notes, which conatit4te ne
9n. iaMiai money now IN general use. Tho femponEy
iurbed, It having worked well for the couyenience
pom Of the Government and Of the people OvrT,
; IT. notes. The awta1 money Of country
taIs o.u gives tne Secretary no power; they be1np
looked upon a. bringing up distinct question for
e2 s5f needing careful and nature thought
1he SECRETARY Is not authorized 10 sell these th,r-
3ear bonds-any part Of them OF Ia any eyenfE
s1ap o1a amply TO e7ehangs them tor The securities
Iee e. Gses1ritiss r. to b converted INTO long bond.
aee GOO Of 10 notes; about 3ao do OF
9en n 6Sd tntete.t and h.e notes md
gnee sonfctted, the government obligations viii
tne1ealter Be all permanently nnded excepting IL.
dnafy 1eeattepder no:es The Chief part or of tbr
smount 10 be funded is tho 3saO, ,aD,UGU OF 80
The bin further provides that IN authority ncr
e1lt'mH ior tssnIne my bonds other than thoso
now by thif hlll authorised, ah.n cease.
me eoads are 10 be yaued at not Less
lof ice oond. IRE TO be yalued at the par or .bcr
hssnepas, spa On all Interest upon thsm %
may not yet Be actually due md psyabie Ia other
wofdf, The holders Of compound interest nota%
who now cannon claim any inerest until the notse
interest It once. The holders Of seten-shirty notes
Ret all the interest accrued upon them TO she date
o. t9e e1change, without whiting I'LL tae aest aa8-
-Tbe New York s Sew Hazen Railroad has
been At Last compelled to pay The Soo, ,oo sto&n BY
Schuyler.
Money m 81. Lnuls Is cfote It 1oeels pr can't
Eastern Exchange is STEADY AZ i-'o P1eN1' ou'1ok
~ H. 1,,t ,y1tern weeks the receipts Of cot
-, ,s New INK. by railroad, have averaged 9ts1