The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-12
FINANCIAL AND CONNER ciAL.
koTnAr, Nov il-eP. n

koEnAr Nov ll-6PN
III, gold market has been dali auc steady to-day tns
range having been from 1889. to ia. 20 The
closing quotation 1887 1879 There was brisecsr-
rowing demand for coin, and loans we're made without
interest and At per cent for carrying. The gross
eearnes amounted 10 sSe o53 600 the gold balances 70
1885 4o5 and no currency balances 70 $2os5 6o5
The aggregate Of gold certificates Issued by the sub
Treasury up TO tho close OF business on Saturday was
s22s, 300, $50, Of which s2oo.r19.ooe had been re-
deemed, leaving sac SIC 2se outstanding The s,eadi
ness OF the premium for ths last Few dayf has
made the speculative feeling in the gold room
little less hesrsh than was but there is no dis
position a. yet shown to "eovsr" sshort" contracts
and while cash god attendant and there no
exciting Causes operating TO Advance the market = VIII
probably rerzain without material change The meet
ing OF Congress the 21s inst, however, can hardly
fall TO increase the number or buyers OF gold IN antci-
patton OF the e'ecs o. proceedings OF disturbing char-
scier with regard 20 the reconstruction question and he
finances. The tepiency o. legislation reisiing 70 the
latter win undoubtedly be favor OF imitation, and
probably one or the nrst important measures Of the
next session vi be 10 suspend the further contraction
o! United States notes, which has already
been on t0o la5ge scale for the
tional welfare Il Is very questionable whet her
the substitution az three hundred millions OF
legal tender notes FOR equal amount OF national
hank notes viii be authorized. but ultimately his is
likely be done, md the the better FOR only
won.d save the government. about twenty millions in
gold rer anhum, which is paid TO the national
banks interest their bonds deposited as basis o.
circulation, but would give 20 the country uniform
currency based directly upon the credit OF the govern
To The contraction OF the past year we
attribute he prevailing depression ana the
consequent decline in the receipts and the
loneer this contraction is pefsevered the dsas
trcus vii be lis effects in retardng the progress OF the
country and mpoverishing the people.
Speculation continues very langud the Stock TX
change, and although the earnings Of the railways
large there few outside buyers OF their shares The
street IL however, less besrish than il has been for
some time past and there considerable OF fresh
upward movement. before long, while tho Indications
are that the general expectation in this respect will
he disappointed whether the outside public into
Wal street not, provided the leading spectators act
IN For the time being nevertheless The market
Is somewhat dropping but this DO regarded as only
temporary, II any importance is 10 be attached
70 The Other signs OF the times. Money is
n moderately good demand At seven per cent
but the supply is ample. and bank officers anticipate
nc marked activity in consequence Of the drain OF
Tercy southwark 10 the cotton crop The trans
at six per for call oaus were exceptional
to-day government securities owing to the
willingness of lenders generally to pD the legal rate
and thas AVOID having their loans called in whenever
she demand for money qrckens. In the discount line
there IS not much movement owing TO the careful
scrutiny commercial paper is subjected the banks
butstncty primo names pass readily al per cent
while lowcr grades out Of favor and have the
gauntlet of the note brokers varying from to
u for good and ~ to rs per cent for Ordinary
The statement Of the associated banks Of this city FOR
the week ending the 9th inst is the same in every
particular as u was reported TO be Saturday, it's totals
and those Of the return for the week ending tie "a
inst being subjoned:--