The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-02-23
FINANCIAL AND COMMERCIAL.

| FRIpAr Feb 22-oPM
Ms being y sshngton's birthday and legal holiday
~ tn, STATE 6asssss has PEE. suspended hroughou,
the city and Wall strss was aass-.'ad-ths Stock Ex-
chan ye, the Gold Exchange and tho Mining ard hsv-
ing a vourned from Thursday to Saturday. An -
brokers Offices closed alike with the banks and
public ca Ices and the mercantile community provided
for theN ants In the way OF gold and foreign exchange
yesterday Not even group Of operators congregaied
in Broad n -eet after eleven O'clock the deep snow on
the ground ~ ,baby reconcng all who 70 remain
bound "A home; and In this land OF rare holidays
| home is sweea word to those who value 1t
The railway N ID miscellaneous share market closed
steady at six ocsa TX last evening. at the following quo
tations:-New Ysnt Central 1olA q; Erie. 5ssI
| y; Hudson, 1874 nNTs;; Reading l04 Ioax; Michigan
Central, Io7 los; Michigan Southern 72xaX Illinois
Central Ilo Ils; cleveland and Pi,isburg, so SOY;
Cleveland and Toledo .l17,S 1ls; Rock Island s7k
q; Northwestern, 35x.ax5 do preferred, 65ksx
Fort Wayne 9esS ooX. Some transactions in Erie arc
said to have made thAs incoming at 56n X and IN
New York Central at 1927.
According statement Of the Secretary of the rrea
sury, made to the Senate Nay "a 1866 tAe compound
interest then outstanding marsnsd on the following
dates:-
June Is, 1867. $soo0Ooo June 49, hses so7 600 600
Dec ID, 1861. 47,5o00o0 Dec Is, 1898. S9,5I2I4I
This return, 1t will be SEEM conflicts remarkably with
the estimate or Senator Sherman, which published |
yesterday. The discrepancy amounts to abouf f,y mil
ons aud the question arises. how does il occurS II
well known that since tho date Of this statement son
siderable portion OF these notes have been bought |
mp and exchanged by the Treasury and that 1
previously still larger amount had been cancelled Has
the treasury been buying tho notes of date
and ressung those Of the old dates and II how is il
that as Mr. sherman states, ss9ee5 900, exclusive OF
Of interest," mature during the current yeara
II the Secretary Of the Treasury made mistake in his
statement OF May 2s 1885, he is in duty bound to con-
fcss and explain 1t, aud correct the misconceptions
which at present prevail on tho subject
Judging by the defeat tho House amendment to the
Loan Certificate bill, providing that further contrsc
ton Of the currency shall take place within year. we
may infer that the sentiment Of at least branch OF
Congress is opposed to limitation OF the existing
powers OF the Secretary Of the Treasury the
volume Of United States notes at the four millions
. opth, and rests satisfied with the issue OF hun
drcd millions Of legal tender notes to replace
an equal amount Of maturing compound interest notes
THIS not satisfactory, nothing bearing SO materially
upou the interests of the country contraction
Of the currency should be left the discretion OF the
Secretary OF the Treasury. The effects OF contraction
being Immediately felt however, likely TO prove their
own cure for any excess In this respect the direct
luence of undue contraction being prostraton Of
aud material falling of in the receipts tho
government which would leave the Treasury without the
surplus necessary to contraction The issue plain
egal tenders in exchange for compound notes viii
step in the right direction far preferable to
he issue Of the proposed loan certificates which would
AVE involved subsidy to the national banks OF three or
our millions per annum It is, therefore, to be hoped
hat the new measure will pass the Senate.
The prospect OF the defeat OF the Tariff bill has slack 9
ned the withdrawal Of foreign goods from bond which
ad been going forward rapidly than usual since
he LIST OF January. The warehouse movement for the u
ast six months Of 1896 has just been compiled from r.
hcia data, and is embodied in the following Aeures: OF
took in warehouse July I, 1866 - S34 on AK | "
inferred for warehousinp for six months . 81 500 All .
deceived from other ports for months l6s7,o7i =