New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-26

bonds n0O nave tnaI advantage, ana bho NO'oih
Inent cannot withdraw it until it is in position to
pay every bond possessing it. Being without this
power, and with no prospect of acquiring it with a
bond at lessnterest than is now paid freedom from
saxation must continue. II is not probable that
Congress will commit tho indIscretion OF
passing an explanatory resolution declaring
that all the existing bonds shall be pald
In gold 1t has been the custom OF the
Government TO pay the principal in gold, and that Is
nj that its present creditors are entitled 10 KNOW.
Nearly all the bonds in circulation were issueu
with this question of payment OF the principal m goi"
unsettled by act Of Congress. Every one VINO mas
loaned 20 the Government by taking these Dohds'
when issued or since has made large interest, ana
could 1T any time have changed his investment ho'
only without loss but with great profit. The Gov
eminent has paid all its creditors expected or that 10
Dromised and should rest there, far as IT'S present
bends are concerned For the future, II should take
advantage of the confidence felt by capitalists
throughout the world of its ability and disposition to
pay us debts and offer long loan into which the ex-
listing bonds can be merged prior TO or at maturity.
The first steps in aid Of funding must be the reduc-
lien of taxation and the ouralmentO OF every expense
possible, thus putting the people IN the way OF
accommodating capital, which would naturally seek
permanent use in the funded debt The
present plan of war taxes applied TO the re-
povershes The people and checks the development of
the industry of the country from which in future the
debt could be paid without embarrassment to any in
ferest With reduced taxation the productive power
Of the country win acquire fresh activity, and yield
= revenue equal not only TO the annual interest on
the debt and ordinary expenses but surplus which
would not only pay off large amounts of the principal
yearly but make further reductions in taxes neces-
sary and still pay off the debt while other nations
are struggling to pay the interest only upon theirs
Money is abundant on call and large balances car
ned over for want of use at 70 cent In CONNER
DIAL bills no change Money lenders favor call loans
ut ~ cent with an ample margin and control of their
capital 20 any rate upon mercantile paper.
Foreign Exchange is not strong, at the following
quotations: London 60 days. 109sQl 1895; do at short
sight, 1O9s 1885, Paris, long sight 5l6s do at short
sight 5.lSa +; Antwerp, 5.2oQ5.l74 Swiss, 52Oa511s;
Hamburg, 81, 036; Amsterdam, 40I441; Frankfort,
soi Q4Os; Bremen 7s2a7sI; Berlin 7ls072.
Freishts to Liverpool, 30 tuns Oil Cake, at OBS Sd;
700 bales Cotton at 3D. 900 BUSH Corn, at SD p SO
n, and per steamer, % 600 bush. Corn, at 1Od.
The following is the days business at the office
of the Assistant Treasurer: Receipts for Customs,
t94OOO; Receipts for Gold Notes $500; total Re
oeipts, Ss74s673 60; total Payments, $s56O659 IL;
Balance, $lO9, 76S So. 81. 81. ..I
j. NJ. Toucey. formerly of the Hudson River Road.
has been appointed Superint ndent of the Delaware,
Lackawanna and Western Railroad
! Henry Keep, esq, has beer elected a director OF
the Chicago and North Western Railway Company
La place of James ID. Fish, resigned l..
Mr. Schenck Of Ohio is announced, by private
dispatch as the Chairman of the Committee of Ways
and Means Mr.. ScBenck is regarded as AN opponent
Of the contraction policy. The Chairman of the
Committee on Banking is Mr. Pomeroy of this State.
warm supporter of the National Currency Act. and
IN favor of its extension.
Atlantic Mail shows remarkable tirnlness under the
decline of Pacific. 1t IS selling higher-ll THAN 1t
did when Pacific was 145. At III Atlantic Mail is
selling at about s4,5O0OOO It's assets are 5000
shares of Pacific Mail, the West India Line and
half of the New York Mail. The Pacific being tied
vpp stock is worth about 10 per cent less than regu
ar stock say no. - $4,000; amount paid spoford Il
TestOn from the West India Line, $JOOOO; one-half
yew-York Mail, 100000; total $4,4GOOOO. This
bots trlie short of the selling price of Atlantic
Hail-117-and is not far out of the way provided
me two steamboat lines are making money IT, and
here is no mortgage on them u and nothing Dor
row ed on the 10000 shares of Pacific q
Holders of United States Six per Cents Of 1881 the
Tive per Cents of 1S71-74 and the new FiveTwenties
Of 1865 and 1861 reminded that the transfers Tor
The January dividend viii close on Saturday next,
Nov 90 Holders of the SeYen-Thirty notes who de-
lIre 10 convert them into Five-Iwentes, IN season
lkr the gold dividend upon the latter on inc Isl Oh
January are also reminded that this is the last week
or such conversions into either registered OF coupon
bonds. On and after Monday next, Dec. 2, will be
continued as for the succeeding LIST of July dividend
MessrsEFisk & Hatch Bankers &c, No. Nassau
NJ report increased activity in Central Pacific Rail-
road securities The merits and advantages of these
llrst mortgage 6per cent Gold Bonds will be found
.et forth at length in our advertising columns LID
The Chicago and Northwestern Railway Co.'S
s.rnines third week in November, were in: -.
1877 t793529 II 1856 5356 p increase VISITS 81
The Chiodqo Tribune of Friday says: ..
Rusinese I'm financial circles continues quiet ana with
| ant much animation though the banks, which are en-
faael in the pork trade report an dctNe dsuaun lot
Money and the market is working closer The shipments
n enTrency 10 the interior though quite large. we're not
proylsons and until such takes place. no return now
| 4 currency from the East may be looked ior'
TN. Cincinnati Gazette of Saturday says:
The demand for money not quite as pressing 10
aAy and little gain currency was geucfaiE ohPcs
epced among bankerS DepOsitOrs md less ubplchty IN
obtaining up to a certain nt, puV Wy
market sin rule close and considerable nrscias paper
Il s offered In the open market al l2al6 per cent anu
lome Of this grade was taken ~ s DEL GA a IL ,,
Il steady at 40 discount, buying, ana par selhhE, III
instances depOztOrs are allowed ~ csn.s @
for their receipts but dealers ndinerent ABOUT Du
ing round lots At better than lilo discount .'.' 0
1.sIy or m, Lor,s Speele Circulation, Deposits ava
Ieaai Jeuers az ne Banks Of ne Ctty 9f Ner l"h yO
/ Ms reel ending saturday, Noe 70, 1901 -. r .. .
j m ASersgs Average Arange Aversss . -t.'
Il u