The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-30

Thsrs vas nrm aud rising market for government
securities during thu week. aui At the close Il was
strong under . brisk inves,ment demand Fve-twen.
ties OF 1862 scarce, and the borrowing demand was
acve In consequences OF tho large sshort" interest In
them, and the price advanced l0sH 1885, Sat-
srday while the bonds OF 1866 (May and Novembcr).
which wore next IN point Of nrmnsss. sold up
% 1861 log Tho disbursements In January cf the
ssmlannual interest United and State and cor
poratlon bonds and Ihs dividends OF public companies,
together with the principal Of tho bonds Of l8A7 Will
quickea tho investment inquiry for governments, under
which further recovery from the recent depression
will be likely u take place, and Hve-twentes for the
intsrest thsy yield, calculated In currency, far
cheaper than railway other speculative shares Tho
rsnvesmsnt Of only half tho amount TO be paid out by
che Treasury would alone be sufficient 70 create very
active demand for securities in tho present state OF the
market the aggregate held in the bsing smaller
than usual 81 this season.
The money market was well supplied with capital
during tho week. and loans the stock Exchange
generally made at six cent tho exceptions being at
I'VE and ssven. Towards the close the demand
somewhat larger In proportion TO the supply than Il was
ct the bsgnnug. and transactions u per cent
Wsre numerous, but there Indications
favorable 70 continued Tho domestic exchanges
In favor Of this centre although there Is light
drain OF currency the South where currency very
scarce, ana VIII remain 30 Until doSOnted region
recovers from the prostraton undor which It Is
1abcrng. Tho discount line was quiet, owing to the
dulnsss In trade ami th, distrust Of all but first
class commercial paper. which passed freely 1t
. per cent whie the banks accommo-
dated their customers to . moderate extent At tho
legal rata But although this INCLINATION TO buy paper
OF the interior grades Is marked there is considerably
1sn dstrust Of credits than there few weeks ago,
and this improvement is not confined to money lenders
but cxten1s 10 the whole business community. This
confidence grows out Of belief that prices
already 30 low oil departments OF trade that they
not likely 70 60 much II any lover and that those who
have successfully w,hsood the pressure Of the last few
months viii survive the ordeal they undergoing.
Nevertheless, tho prospect OF immediate revival Of
srads not very ENCOURAGING. and manufactures Of ala
Kinds IN selling much lower Than they wsrs year ago.
and gs6Sry below the the importer the
1acturer Wool teng than did Just prior tho
outbreak Of the rebellion ami coal for little In
currency than used bring 10 rpecie, while iron has
decped IL nearly tho proportion Opinions diner
widely 10 the results OF the spring upon trade
many taking sang uiBo and Others despondent view
OF the situation; but the majority look Tor improvement
under Ne influence OF the AUTHORIZATION policy Of
Congress- and therefore be hoped that the senate
will pas the House bill srspending the withdrawal OF
legal tenders Il meets, aud thus terminate
public anxiety tue subject Tho losses already suf-
fersd In trade will howev clamp enterprise for long
sme 70 come and Il Is argued that more stoppago OF
contraction will not DO sufficient to give impetus
70 the prosperity Of the country that nothing. In
fact less than imitation the extent OF the hundred and
Cen millions OF legal tender notes Withdrawn during
past year viii be sufficient trade recover
from the depression Which has been gradually creeping
over 10 since Mr. McCuloch policy OF contraction was
put In operation.
The statement Of the associated banks OF this city for
she week ending the 2sth insl reflects easy con-
dillon Of mono airy ala rs, showing s Il does in
GREASE Of 500 in legal tender notes. IN
aeposita ell6299 circulation and s454o5o in loans
Tho specie the other hand decreased 81 49o 100
ewing 70 The demand for shipment and customs duties
md the amount held ~ tho banks ID reduced to
&C., Their liabii los deposits circulation
now aggregate s2l2 s47,5ol, while THAR reserve In
speeis and le-al tender notes Is 1,62o, 9oi, or
oo& 10 OF the legal limit OF twenty
Or osnk II ws deduct the specie from the reserve,
however, nnd that the u LAS 03s-a larger
surplus in legal tender than tho banks have hsld
for several months past The following totals or
shs present and last preceding statsmsnts:--