New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-19

q pes cent per annum, did not cancel the Fur mil
hons O. loyal tenders under his d5srelionary power,
but Us d his surplus revenue to buy up interest
bearine debt aud cancel it at tho rate Of four mll
hons u lnthly, when the grain crop was ready i0r
market md ae demand for currency at It's hight
The position is taken by traders ard debtors
tbat the policy of the Treasury IN regohu
% the contraction OF legal tenders shau
Dc fxel and made clear that every trauel anu
borrow may know what to depend upon, and brsi-
ness b. relieved from the mystery attending the
tnovcn. uts of the Treasury in regard to currency.
As thef ndinr of the os an assured fact there are
pound reasons why The Treasurer should be III
Ktraoted what to do in the matter of contractoh'
H the lo.al tenders aro to be steadily reduced Iour
,a;llions per month and the Secretary requreu u
carry ont this policy the people will at once ao''
t4eir bus ues3 to it. cost what it may. H. On '4o
other hail the trading community Hio " - :"
donbt "a o the Treasury policy ana 10 W"'c, 'io
monthly ST .temcnts 10 sec what the treasury uo'S'
h.siness must continue to DO carried on rs II mas
beeu through 1861, with an insecurity dangerous 10
ur,s in short enterprises and fatal TO long engage
n.ents The time has come Tor tao adopnon Oh
Exed fnsacial policy and the final Abandonment of
the various kitirs experiments which nave Deeh
made by tho department since 1861.
Thu following was tie business OF the day at the Of
Rc.of the Assistant Treasurer Receips Tor Customs,
t5Oo0; Receipts Tor Gold Notes, $4,000; total Re
seduts sS7ss,,Gi o.; total Payments, $96929J9 O.
Balance $n0,GJ0,C'i G5.
Exchange is steady al the following rates London,
o. day, 1OG,01tJ3; do. sight, 10gsalG4; Paris,
long SJ7sa5IG3; 10. short, 51Ja5I5s; Ant
werp 52OG11,3; Swiss. 5.2o05l7l; Hamburg,
85IaS6 Aing.crjlm, 4H0H; Frankfort Al. GiJs;
Bremen Is. a7si Berlin. 7l3ai2
Freights 10 Liverpool, oo,coo bush. Wheel, Corn,
and Peas at s. Sd; ESQ bbs Rosn at Ss 80 10, and
300 bales o; Cotton at 51Cd, and pr steamer 5jOOO
bush Wheat at l03&lld. To An.wcrp, 100 bush.
Wheat at lOd. in siiip's bags.
The rationa Trust Company Of NewYork, char
tered by the Legislature in April last has opened It's
doorS for business az No $50 Broadway at recent
meeting it was Announced that It's capital stock OF
N.O0O.OC1 had all BEEN taken, and that over half
million bad been invested in United States bonds
Nj Joseph L. Orvii who had been President from
It's organize ou and 70 wIse active efforts The insi-
tutaon IS very largely indebted Cor the sGbScpio
10 its stock announced 20 the trustees That other en-
eagements would prevent hiln from continuing to
hold the Office, and rendered his resignation ms
resignation was accepted with marked expressions
Of regret and appropriate and very complimentary
resolutions passed. 1T q subsequent meet
Tag of the trustees Mr. Darius L. Mangan
Nss~+'NA
aRd later of hsngam Jenkins & Co., bankers
and dealers III Gov nment securities in Wall-st,
unanimously elected President. a-r. Mangam brings
to this Office high reputation as gentleman and
fnancer of wealth and ability. and with the eopcTa
ton of very Efficient Board of Trustees and large
capita We can see no reason why tho National Trust
Company should not take ts place III the 'front.' rank
with similar institutions.
Pacific Mail sold at 1;,. and the rumor Of the street
Is now that the present Doarl viii he retained. The
opposition viii probably make the Direction 30 be
elected this week coIplaisant 10 the sharehod
era and more economical IN their management. The
new line is controlled 10y parties having practical
knowledge in steam navigation, and WHO put thelT
ships on the California route pure matter OF
business In ships they are nat surpassed by the
line win which they must compete, and they haVcin
all respects ~ favorable contracts with the
Panama road - the existing line. 1t does
not commence as o fighting line. 10
crafty personal animOsity, OF To aGoct tho price Oh
Pacific Mai stock. each ara all motives governing
CORNER opposition lines. but ii means permanent
business 1t now controls ten ships, Of which four
are new end has q capital Of Only S5.oO0Co0, against
$50 100000 Of the old line at current rates. WhytAis
new line is established can be readily understood By
those conversant with the profits OF the Pacific Nail
Company. The wonder is that line has not
taken the ocean against il long since To California
Il will be great gain. and ecu baIdy fan OF fair
reward for the money invested
cABIR Of ne Loans, Slsele, CreVi1i2n ppostt' ard
Leyd Tenders tn he BQnks y ne Ct AcH-l0r Jor
le sooek eRdiHg SattiaB SGr. q, 1907,
KAun. OF 6soasiof 1ne4ss Araat 4neua'
IgafS