American citizen. [volume] (Canton, Miss.) 1864-1890, 1868-11-14
NEW YORK, Nov. 6, 1865,

Of the 27,h nit. 10 IL real striugency
aud money is just as tight as brick
One hall per cent. day, beside
regular legal interest, is now the ex
orhltint figure, and Government Sc
ruriJieS ale earccly an exception /,
The lu,e.
Inicel, some people look upoi
Governments as the last security
they wouid wish to lean III or, foi i
Radical measures are to prevail tol
the next tOGr years they (the bonds
viii be washed out Of existence lous
before those eyentiui four years arr
ended.
Ii is almost useless to ask thu
banks for money; they have none, 81
to speak During Yesterday and to
day they called in nearly all then
IUauS in miscellaneous stocks, the
margins on many of which were used
an, an,l hey went by the board.
IN times Of panic the bank officers
catch Jhe fever pretty nearly as soon
AS the poor devils who are about to go
up" ana sometimes sooner; for they
the banks often bring on II panic
themselves, b, the peculiar meas
ares tncN adopt.
So in lie present case, instead OF
helping tie stree out Of lis panic.
thrS declined to put out again the
loans just called in, except III rare
ill>i"hCcS.
This - course has aggravated
matters, aud forced sales OF Inor
UUus Quantities of bonds and other
stocks tnat cou,d not he longer held
milwaukee, ANA ST. Paul shares
Weie unmerritaj'I slaughtered. the
! fail within twtnty..nn" hon.S being
- per cent. New York CenlrLl fell
| from TO 10 1lS4.
Southern bva,ls, which had been
boug..t tn largely under he belle
,nat GRANTS election would send
thpm up 10 per crnt. ut least fr!l off
>! yer cent. on Mis~ouris, and 3 to
y pr cent. on North Carolinas aud
IcuMrSSIrA.
III The Government bond market
The leading dealers were literally
0lei wlt.mcc. With bonds. They pour
ed into Jay Cooks and other big
houses by the million, until finally
they refused to buy then.
20 add TO the CONSERVATION and
difficulty in selling L. s. bonds it
vas reported that the Government |
itself was selling Though the First |
National ut " a,hingtOn. This gave
picrs another blow, making n total
decline in bonds since Wednesday
morning Of HPJFH SIR per cent!
There has been no such fall il the
history ut the street, IN the same
space OF time, that | remember, ana
it is the very tact that Governments
haye dropped so suddenly ard SO
heavily that increases the llsgtust
everywhere apparent.
Wy he Government sells on q
EGHic a!a}'1et is not known. unless II
be 10 Gt| ire p3aic. IL movement that
80 All'. ictin would wish to believe
possible o. his Government.
True, it. currency balance is low
,h2u, = $1,000, 300 J, but for al that
ntrv i 10 such pressing demand
Il Lon t'e treasury As 10 require the
: he ot ItS DDhdS III Il time like the
present, Tor the credit OF the govern.
Ihent Is stabbed in the sale o!
every bond made.
1t had better continue IT'S sales of
-uid to raise curlcucy than to do this,
though the Withdrawals OF currency
woud be the same in the sales of
gold rs Of bonds
BY all means :. Let lis have peace
Gold was to fall to % when Grant
was elected and bonds advance enOr-
mously. Instead Of which gold to-
day stands as high as before Grants
election was decided, while bonds
':ave cropped from five to six per
cent.
Many hNve marve.cd why gold
should remain so arm under the adj
vent of ''learc," and the nations
Tyui. sink So iariAiy, but the fact
fs"'t - unacDiable.
Ep.t, hnyP\ CT, there is no doubt,
vas largely aided in its firmneSs by {
lac Heavily Ucersoid condition OF
az 1'dl - -, VIZ SuttS nav lItS
'"cl based on 4 supposed serious tai, I
Shrp the great pveut OF the COuntIy'S 1
tc'iN"ftl,y ShyuI'l ba announced. t
StrrIin.; has gone down in the |
genera! ptaic T" 81 per crat. tor Al :
ills, against q IN Monday. d
" r,c ali ;hiS is To cul 10 OHC y
Irtt,nds 30 know The wonder Is {
h"rr have not been heavy failures,
Is t!l. los srs have scdrc,y been equal
"a s.Irr 1881
Once the failures commence how
.re". lDDk out-.ar t,ie craai, viii Ia u
.uth Sha,p and Jveiw heIming. J
= wife. 3 l.. NJ. there Is II !i:t'r q
sore conf irnce based on ru!nor that {
viii be done within twen- t
y-inHr hours To relieve ths market, :
mt what that something is we do n
ct know. h
Relief would be afforded if locked t
y grrenhacks were set at liberty; IL
ut whether this relief would be Sulfi Il
lent to right the Ship is an open S
ueStion. p
One Of of our papers. just issued, 81
avs: C,
The end is not yet. Business il
OSed without cessation OF the ft
lnic. 50 that it is difficult to see Il