The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-08-24
FINANCIAL AND Cox,rEHCrAI-
RICHMOND, August Is.

RICHMOND, August Is.
The bulls Of tho New York Gold Board
still have the advantage. The market
opened this morning at 1901, declined to
l4sA, rose to 1901, and closed at 1903.
Thus these INSCRIPTIONS spectators
continue their operations to-day ele-
waiting, tomorrow depressing, the value
Of gold without cause, to the injury of
other people. On Tuesday the bears at
tackled Erie and Reading stocks, which,
by well-directed assault, they caused to
decline, while they had parties in their
employment buying for them at the de-
cline. Such are the acts Of positive dis
honesty which the wealthy men of New
York, who move in "good society,"" are
daily guilty of.
There is no change in money matters.
In this city there is yet little doiDg-mo-
ney scarce and quiet. Building is going
on with wonderful animation considering
the scarcity Of means. In o few months
the whole of Main street will be rebuilt in
very handsome style. Many Of the build
ings upon it would be an ornament to Wall
street.
We extract the following paragraph
from letter written by Mr.. McCulloch,
Secretary of the Treasury, to some Boston
friends:
"Since March, 1865, the war has been
brought to successful conclusion i'm
mense armies have been disbanded every
soldier has been paid before being mus
tered out of tho service; all maturing OBJ
legations of the Government have been
satisfactorily provided for, while the ma
tional debt is nearly $3.50, 100000 less than
it was estimated it would be at the present
time; and the reduction Of it has averaged
for the past year more than Sl0,O0O,0OO
per month. If no other nation ever rolled
up debt so rapidly, none certainly ever
commenced the reduction of its debt so
soon after its creation. If our currency is
deprecated, we have SO far escaped the
financial troubles that usually occur among
nations at the close of expensive wars,
and which there was reason to apprehend
would happen to us at the termination Of
the great war in which we have been en-
gagged. If the business of the country is
conducted upon changing and uncertain
basis, it has been subject to no severe re-
WILSON'S. If our taxes are heavy, our re-
sources are almost unlimited, while the
disposition of the people to bear cheertully
their burdens is a surprise even to those
who have the greatest confidence in the
honor and good faith Of free people. In
my opinion, the people of the United States
are to make republicanisru illustrious
among the nations by establishing the fact
that the securities of republican govern
ment are the safest of all securities, and
that the people who impose taxes upon
themselves are the most Jealous of their
national credit.
~ do not, however, disguise the fact
that great financial difficulties are still tf
be overcome that our present prosperit!
is rather apparent than real that we aS
measuring values by false standard thai
we are, in fact, exposed to all the danger
which attend an inflated and irredeemabk
currency, which diminishes labor-the tru
source of national wcalth-and stimulate
speculation and extravaganza, which Leaf
invariably to thrittlessncSs and demorali
cation. Before the country becomes agail
really prosperous, the specie standard
must be restored, prices reduced, industry
stimulated, the products of the country
increased, the balance Of trade between
the United States and other nations cease
to be against us-all the great interests of
the country cared for and protected by
wise and impartial legislation, and all sec
tons of the country be brought again into
harmonious and practical relations with
the General Government.
"That the country will be again thus
really prosperous is as certain as anything
in the future"
In this city we quote gold at l4S@l5O,
buying and selling. Silver, l:S9l4O, buy
ing and selling. We quote stocks as fol-
lows:
Virginia Coupons. ...,....'..'.''..'..' ~
virginia Registered Bonds, new. 40
Virginia Registered Bonds, old............. a.9A
North Carolina Bonds. ACKNOWLEDGEMENTS. %
Richmond and Petersburg Railroad per
cent. bonds. $1,000. '...',...'.. -
Richmond and YORK River Railroad per
cent. BONDS. .,.'.'''''. 80
Richmond, Fredericksburg and Potomac
Railroad Dividend Bonds, per CENT. 90
Richmond, Fredericksburg and Potomac
Railroad Bonds per cent. ...,......... 50
Richmond. Fredericksburg and Potomac