New-York tribune., 1867-04-06

lished for a long time. and shows that Mr. McCul-
lOch is funding the short debt rapidly, and at the
same time making steady reduction OF the princi-
pal Beside being agreeable TO those desiring TO
the debt funded aud specie payments secured, the
statement has other qualities, which borrowers OF
money should not fail 10 notice and heed carefully
The pressure for money IN March was not brought
about by tue movements OF the Treasury absorbing
but was produced by other causes Instead Of
locking up money in March. the Secretary restored
30 commercial uses SIS 223,5f1 in currency; and
duced his gold certificate balance sG0OO,OOO, on
imitation equal to nearly SOOOOOO per day. so far as
supplying money to the public was concerned. Tho
currency balance has been reduced to $i 1928 S26 an
amount quite as small as the Treasury can work COM
fOrably upon, making it reasonable to assume that.
instead of being able to come to the reiei
of the money market the Secretary will have enough
to do to work the Department so as not to produce
money pressure severe enough TO cause general
breakdown in prices. The cancellation of plain
greenbacks and compounds used as bank reserve
equals $3OOOOOO, a moderate sum, yet sufficient to
have perceptible effect upon the bank movement IN
the way of contraction The future operations OF the
Treasury cannot fail TO disturb the market and TO keep
money well up in price and in active demand. The
payment of the May interest the 52Us will set free
a large amount of gold and give employment TO legal
with commission added This disturbing element of
gold interest removed, further activity in money VIII
be produced by the maturing of compounds which
passing from bank reserves into permanent invest
ments. will force the banks to contract bank con-
traction to keep within tho letter of the law their
reserve disappears can only bo effected through o
liquidation by bank borrowers. ending IN reduction
i'm prices for commodities sufficient TO bring the bsi-
ness of the country wthing tho control of the steadily
decreasing amount of currency. In word. the time
is at hand when market prices are to shrink to a
degree which will DO TO every observer palpabe as
was tho advance caused by the imitation OF tho cur
rency.
The earnings of the gan Central Railroad for
the month of March were:
1867 m 1915 2lO IS 1866 $335S 80 inc S58Oof 1i
The earnings of the Milwaukee and ST. Paul kaiI-
road for the month of March wero:
1866 s12S.056 CO 1867 s3i.9oO % inc.sio''' ~
The earnings of the Milwaukee and Prairie Du
Chen Railroad for tho month of March were
1906 ST21S5 20 1867 900 o. tlS5 % %
The earnings of the McGregor aud Western Rail
road for the month of March were:
1866 si2 500 90 1856. 400 90 Dec. $500 90
Tho earnings of the Minnesota Central Railroad
for the month of March were:
1866 $1,000 90 1867 sa2 COO 90 Inc..- 1900 90
The earnings of the Western Union Railroad for
the month of March
1867 s1O.5n AZ 1865. $3.50 80 Dec c SOcS 80
Gen Fremont yesterday received dispatch from
r. c. Brinkley esq, President of the Memphis and
Little Rock Railroad Co, stating that tho contract
made by the General on behalf of the Memphis, I'll
Paso and Pacific Railroad Co. for the purchase OF
tho Memphis and Little Rock Railroad. had been
unanimously ratified by the stockholders OF the Latter
road. -
Tho follovinO ara the movements of Dry Goods at