The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-03

In London to-day and on the J, Ieyious dates men
tioned:-
Fiys.twentes .::.::.... s ss IS IS" ass" "
Illinois Central 81 % o6X
80 .''.''.S~--.--.... ~ S5h Szs
MT CaihourA the president Of the Fourth National
BANK nav g written to the Comptroller and Speaker
OF the fouse OF Representatives OF Tennessee asking
ior formation relative to the financial condition OF
In6m those gentlemen
NEW YORK, Oct. 2 1885,
Your letter OF the LIST inst, propoundng certain
questions TO us relative to the finances, &C. of
State has been received and we answer as fol-
lows
/. To your question "what win be the probable
annual receipts Of the treasury from railroads which
can be relied on TO pay their semi-annual interest,"
and what amount from other sourcess" we answer
From railroads. semi annually ........... $500, 900
From other sources, semiannually.. 1,l5o,oOo
mailing the animal receipts 81, 800, '''''''
2 How much suspended interest Is due the
State from railroads and how much from other
sources ~ we answer
From other Sources we have mot the data here en-
aiding US to answer.
To question three, as to the policy OF our Lepisla-
ture relative to the sale Of defaulting railroads. &C.,
we answer that It will be the policy Of the Lgisa-
State debt which can be thus cancelled we are una
oie 70 speak definitely. as that depends on the ability
u % S sod 20 hnd Inc roads 4 sold
to the State interest to and including July l. 1865
O. o., me me roads now In the hands Of receivers Is
TO question four we answer that the militia win
not be called out.
Fifth-About what amount win be required to nav
the annual interest and expenses OF the state and
do you apprehend any considerable deficiency In the
revenue OF the State to meet its semiannua INTEREST,"
10 TINS we answer that 81, 300 600 will be found to bo
the amount necessary 10 meet the interest on our
State debt a. 1t Is and defray the expenses Of our
State government, common schools, &C.
The earnings Of the Michigan Southern Railway
Company for the last week In September were
$l7e,ooo. against $144,0n for the same week last
year, being an increase Of $751; $780, and for the month
$512,523 against $4s7,ses for the same month last
year, being an increase OF s24,s55.
Chicago journal Of the 30th ult thus refers to
local monetary affairs and the grain movements
There has been but little change in the local money
market since yesterday. The grain trade, upon
centre. has come nearer to a standstill than would
nave seemed possible at this OF the year. and
paying for even less grain for shipment than yestcr.
day. and q corresponding increase OF demands for
money to carry grain here Is noticed, coming In
most instances from regular and valuable customers
whom the banks can scarcely refuse. There is q
noticeable decrease In deposits and the general ten
dency OF the MARKET as might be expected at this
season OF the year and just before quarter day, is
towards stringency. Currency movements to and
from the different parts OF the country nearly balance
East but ths IS due just now to the check in the
movement o. grain. Ii prices here and at New York
were adlu "a so as to admit OF shipments with q
prospect OF profit, an immediate demand for more
currency would be OF the irst results of the re-
newed movement OF grain.
An article In the Revue des De,sr Aondes by NJ
Victor Bonnet thus refers to the condition OF fnan
cial affairs in Europe and incidentally in this coun
try
The billion OF francs idle In the Bank OF France
rests there unemployed because capitalists are gov
billion OF the Bank Of France Is caused, first by q
singular political inquetude which paralyzes CON-
taris OF the United States, which Close to us most
Important outlet; and finally. the 'force paper
rency" Of bank notes or paper money which exists
ates renux towards us Of all the pre-
cions metals; 1t is for us and the English
Central America labor The countries which have
forced paper currency cannot receive the precious
metals Of America. Not only do they not receive
them, but their own circulation goes abroad and
reaches u.s. The gold which Is produced In the Ural
mountains only stops at st. Petersburg and does not
sojourns The same in Austria, that unfortunate
country where, during the twenty years 1t has been
given up 70 paper currency, none Of the precious
metals are circulated as money. The circua-
ton OF paper money there has descended as
low low e.. even - as ou..I orn A. 70 Italy We
France Of silver and gold pieces stamped with the
image Of Victor Emanuel, that we serve also as an
W and rom
thence arrives here directly. England and France
are alone the outlets and resting places OF the gold
which the Banks OF England and France are bur-
dened arises simply from the influence OF forced
paper currency. In countries where paper money
rules, specie disappears. Specie goes abroad be-
cause II has not Its real value In circulaton be-
cause It Is In concurrence with money symbol
which, IN replacing II, depreciates II. II goes
abroad also because such countries are always
debtors 70 foreign nations and have remit
tances to make to them.
The receipts for customs ana the receipts, pay
ments and balances at the SubTreasury In this city
for the expired portion Of the have been rs fol-
lows
Custom House - NH rre1S,,,,,