New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-30

4
new institution.
The action Of Congress upon financial affairs is
watched with an anxiety as great as that shown at
any time during the Rebellion. Much relief is an
tcipated from n suspension of contraction by one
party and an expansion of currency by another; but
those remedies alone will not cure the evils under
which the business of the country is struggling
What is needed most is the reconstruction Of the
South and the termination of the bitterness growing
ont of the war. With this secured, the premium on
gold will fast disappear, and there viii spring up in
Europe q demand for United States bonds at low in
terest sufficient TO enable the Treasury to resume
specie payments with fear of another suspension
While the pacihcation Of the country Is being Sc
cured there are other modes of relieving the
business of the country which Congress should
hasten TO adopt. What is wanted, and what the
people are determined to have, Is 2 Teduc-
ton of the taxes to a point which VII
yield revenue enough TO pay the interest on the
National debt and an economical General Govern
ment. With the war ended two and half years,
the cost of It as severely felt when it at its
hight it. indeed, its evils are not more grievous.
High taxes make up good proportion of the large
prices paid for every commodity, and the sooner
they are reduced to the most economical standard
consistent with National integrity to its creditors,
its opinion on the purchase of new territory, the
granting of more subsidies to railways, and other
modes Of squandering money taken from the INDUS
try of the people at the close of wasting war, and
must keep true TO their honest declarations no mat
ter how pressing the railway and other beggars be-
come as the session advances. The plan OF paying
off large amounts of the National debt is commend
able: but nations like individuals in debt must
be allowed first to live and next 70 pay their debts
That the country means 10 pay its debts, and in the
manner expected by its creditors one doubts and
no further largo reductions of the principal are
needed to give this assurance to either domestic OF
foreign creditors. The coming Winter promises to
be one of excessive hardship to labor in every de-
partment. Capital is timid, and the demand for
labor is the decline. The waiting labOrer must be
fed and fasting will in this country surely breed the
discomfort noticed among the abOrers in other lands,
where bread is scarce and work not TO he had. The
speedest way to put the labor of the country in
ton is to reduce the taxes which cripple capital
and keep il out Of long engagements The sooner
Congress takes the financial policy in hand the better
While il hestates the labor of the country is anT-
Ousy waiting with growing impotence.
The Marietta and Cincinnati Road earned the
third week in November
1885 So 29s 1867 .... 32249 Ino........s7,s5l
The following are the quotations for Exchange
London 60 days 1921 1921; do at sight, 109talO9s;
Commercial. 1O9a1O9i Paris, long, 517ia61e!; do.
short, 51505l83 Antwerp, 5.2OG517t; Swiss $40
a517l; Hamburg, 35lGS6; Amsterdam, 40l041;
Frankfort, 4O.9 lO5; Bremen, 7ssa7Si; Berlin, III
arr.
The following was the days business at the Office
of the Assistant Treasurer: Receipts for Customs,
$4,000 Receipts for Gold Notes. sGOSOOO total Re-
ceipts 81 1913 as; total Payments 81 7O30l6 80;
Balance, $llO,72O.11O Co.
Freights: To Liverpool, 500 bales Cotton at la
5-16d and per steamer, 1000 bales Cotton at ia9d
and Is 900 bush. Corn at 1Od. To London, 90 tuns
Tallow at 3Os G32s 3d. and 500 boxes Cheese at S5s
A British bark 10 Cork and market, with PetrO-
leum, at sG7s. Cd.
The stock of the lLehigh Valley Railroad is now
called at the Stock Exchange, The terminus Of the
road is at Philipsbmg, New-Jersey where 1t con-
meets with the Morrs Canal, NewJersey Central,
Belvidere, Delaware and Morris and Essex Rail-
roads 1t extends by main line and branches to the
Lehigh Beaver Meadow, MahOney and Wyoming
coal fields The number of miles of track including
sdelings. is 292, all in complete order, and amply
equipped with railway stock Capital stock $lO,73l,
400 six per cent bonds $l477OOO; total, s2,2OS4Oo
The coal tunnage of the road in addition to passenger
and miscellaneous freghts during the past twOyears
has been over 100000 gross tuns annually. The
regular dividends of the Company are ~ per cent
quarterly 90 per cent snnuml and have been for the
past six years In addition to its great advantages
Of location and grade coal carrying road IT has
large and increasing miscellaneous business. and
favorable connection with the West by way Of the
Catawissa, and Philadelphia, and Erie Railroads
II also connects at Wilkesbarre with the New-York
and Pennsylvania Railroad. 1t is now being con-
structed up the Valley of the Susquehanna, lO4 miles
10 Waverly on the New-York and Erie, and which
will he completed the coming year. The price Of the
stock is now 1O2 making il the cheapest reliable TO
per cent security the list
The earnings Of the Ogdensburgh and Lake Cham