The New York herald., 1866-11-30
FINANCIAL, AND COMMERCIAL.


FINANCIAL /, AND COMMERCIAL.
--~~~~---~~-~~~~----
TuURsDAr, Nov. a leeAs
This being Thauh.givng day Il has been observed .
perfect holiday both In and out OF Wan trssL and the
weaed spirits ofshs ssook kxoAangs hsvs had respite
from the tolls end ossss Of spscuisftn Many Of the
disaspoln,sd ssi hsys sought solps IN run and sus
religion" according 70 the Oft quoted prescription Of
lord Byron c gc,ng ~ church and fhng sumptuously
upon vinous beverages afsgward& sops Of the bears
the other hand lean Caus hsvs equally eschew-
cd good living and neglected their souls welfare and
secretly they have broodsd over the further downfall
OF the bus Flushed with they aspire TO further
victory. and, nike the vuiture swooping around
Its expected prey, they. in heart pray for
the death Of the crippled bulls they arc anxious 10 do.
vour This amiable frame Of mind is highly amusing
oontsmpass In thsss who little more than fortnight
tembisd benssth power they regretted having op-
posed. They are now growing, like cocks on dunghI,
the ruin that Hes beneath them and the greater the
ruin appears the moro thoy cmbcdened to venture
the psrious exploit Of further crushing their I'd.
vsrsss 70 The esrsh and they win psrssvers until they
caught in the tsp into which they 80
fully dsccysd the bulls mot many days ago. The leading
buns in Wan street never made greater mistake than
on that ocoasioa They rsaxsd their grip upea tho
6aaodheaads threat and tbsy we're torn 70 pieces n
yn0y U1tXn1u0Q
Il should bs remembered that where either side in Wall
street gvss IN inch the cpposts side will take IN oil
It can. The bean SIN talk Of . steadily declining
market; for they have sompsd amount Of money
out Of the pocsss u outside spscuiaor and impovsr
ishsd 70 some sxtenk both brokers and professional
operators who happened be on the bull sde and they
yet ripe Tor further WARFARE on the opposing
ranks But evesy speculative movement either for
rise fall 10 short lived, and speculation bs ulti.
aey sucesssfai only whore IL anticipates the natural
course Of prices and in proportion 70 the force with
which il esiss that natural course win bs the extent Of
the recoil. hft .fa @A
In vIew therefore, Of money being easy this centre
and all tho country, and railway earnings undi-
minshed ,hsre no change in the situation Of Affairs
calculated v permanently deprscate prices yet OF
vanes apart on the influences OF tho Stock Exchange
The bear element has gained The ascendency,
aud the bull element has been greatly
Weakened but We before suggested. all purely specu
lave efforts being transtory In their nature diversion
in favor Of tho opposite side may at any time
Tho bears have spared exertions fears with
respect 10 the proportions Of the Secretary Of the Tea
in his forthcoming report but the latter will
little influence upon congress, IL II should prove
be much IA favor OF contraction Mr. McCulIochs
previous recommendations have been. II is under
stood that the Acting Comptroller Of the Currency
will recommend in his report an increase Of
$25, ,0oo. 900 70 tho amount Of national bank
currency already authorised, to meet the require.
ments Of the Southern States 10 be issued
At tho rata OF about two millions month There is on
doubt an effort Wi, be made to increase the amount
OF national bank notes In circulation and s proper
that there should be equal distribution Of these
throughout the country, the South included the cir
calson Of national hank Is TO be continued But
protest against this form Of money which
taes the annual payment BY the government Of twenty
millions u gold Tor interest the bonds deposited
with the Tssasurst at Washington basis Of circula
ton, aud Congress should Isgisats to substitute
legal for national bank notes. and
equivalent amount Of the bonds Deposited even
the contraction tender notes s entirely stopped
accomplish this important purpose With this
should have uniform currency directly based upon
the credit Of the government and all the banks in the
country would have TO bank upon legal tenders banks
Of issue being authorized This would doubtless kill of
great many OF the INTERIOR banks which depend upon
their circulation instead OF their deposits but there
far too many Of these, material injury would
suIt thersfrom-
The report OF the Secretary Of the Treasury said TO
be Ia type, and copies will be sent sealed envelopes
the Sub Treasurer this city Simultaneous delivery
the New York daily journals when directed Il will
SHOW according 10 the returns published some weeks
since receipts and expenditures under for the fiscal
yesr ending juno 10, 1s6e:-