The New York herald., 1869-03-02

Notwithstanding that all these changes IN govern
ments and gold were more or less connected with
the Schenck BILL that socaled important enactment
rs not regarded per by the deeper thinkers on the
street as OF any very great moment, bat only IN so
lar as il may be accepted abroad as meaning some
tning. It's language, IN the first place, is not
whit more definite than that OF the
chicago platform, pedgng the payment Of the
bonded debt according 10 the letter and spirit OF
the CONTRACT" Engaging to pay all the obligations
Of the government 'in coin its equivalent" ex-
sept in cases where the law has expressly
provided for the payment '.m lawful money
or other currency" If II means anything OF
all, means that II coin Is not expressly
mentioned there Ia no obligation TO pay In coin; for
the terms OF redemption be nor so expressed they
must D, expressed In '.lawful money! as there are
no other forms OF expression used and II made so pay
able an lawful money" why, according 10 this reso-
luton such obligations are an to those re-
oured 10 be paid n coin equivalent" Besides,
any such resolution this even II II were OF greater
preseat force could be set aside by future Con-
aress and the whole matter opened de moro. The
fact is the present appreciation OF governments Is
more ow ng to faith in the administration OF General
Grant aud his promises OF immediate economy and
retrencDment than IN any buncombe declarations Of
Congress as 10 what future generations are gong
70 d..
The money market to-day exhibited another OF
those sudden changes from a condition OF remark
able ease to considerable activity that have before
recently confounded dealers. In the morning money
was ioauing very freely on governments at hve
per cent and six on mixed coliaterals, and
continued at these rates until just previous 10
the close OF banking hours when a sudden and sharp
inquiry was manifested for funds and quite hurry
appeared in the market, the rate advancing to six
Two pau are aas
sudden activity, one being the delay OF many
borrowers TO make up their balances until q
hate hour inducing q crowded market and
the other that IL was the inceptiye movement
of des gned bear attack the stock list, the idea
beng by making this heavy inquiry for funds TO In
duce q belief that money was becoming and 80
prompt sales Of stock. Some cOrroboration OF this
hast idea s be found in the subsequent OF
the stock market Prime business paper is quoted Z
W per cent Foreign Exchange was quiet to-day,
but closed frmer Rates are-Sterimg 90 days. COM
mercial, los a lOsiz; bankers lOos. IOs; short
sight, lo9s l00K; Paris. sixty days, $50 5o5g
snort algnt 5.le,< 5i5; Antwerp. $40 q 5.2l !:
switzerland, $40 n 5171s: Hamburg s51I a 35ss:
Amsterdam, 4oK q 4OA; Frankfort 4OH 4oss;
Brc,nen, 7s9s 7sst: Prussian thaers, II a 7l&.
TIE market for State bonds was strong and
buoyant with a large Investment demand. Tennes
secs advanced u per cent, Levee sixes and eights
per cont and Louisiana sixes ! per cent. Nortt
CaroDnas new were weak aud pressed for sale al
Y per cent "orn Tne following were the closing
quotations: :--Iennessees, ex coupon, 67i4 a 61k;
do, new, u, e8,4; do, fye per cent, 50; yrgnas
ex coupon, g. s7Js; do. new, o. 02ls; do, regis
tered stock s0l 5i DO, registered, 1sod SO IS
do, registered, 1867 5lh 81; Georgia SKIES 80 a
s.; do sevens, s.is 03I do. sevens, interest pay
able iD Georgia, y a 70; North Caronas, ex
coupon, O. 6i's; DO, new, 59ss co.,; Mls
sonr sizes 81. a IS; do, Hannibal and
81. joseph. S.; Louisiana skies. 72ts 73h; do
levee SKIES 70h III; do. DO eghis 81 ss
Alabama es1hts, 041s q e5; do nves, CO q ests; do
skies sterliue, o. a s5: south Carolina sxes. y q
72K; do new, wa Il: DO, registered stock " a es
CITY or MenDah, alxes 5Jti 52; do Atlanta eights.
50; do SavaN nah seveDs 30 el DC. New Orleans
eousols rs so: IA. do. issued to railroads 90 70:
Mobile and ohio serng, GJ.s ao7: do. eghis 50 a g5
Mississippi Central,A aroad. first mortgage, ca a 7o
do. second mortgage. 90 S.; Memphis and Charles
f1n. first mortgage. go 81: do. second mortgage
n 7s: do stock, 20 sSls; GIcenvie and Columbia
Railroad, guaranteed, 81 3D.
The stock market opeIAd strong and buoysnt IL
the street this morning. niinuinG ihIA ACTIVITY a.
the first open board the express shares exhibiting
sbarp recovery nom the lc>w prices Of saturday
Maroosas were again leading feature OF the mis-
cellaneous list and stronger. In the railway iis
,bcre we're no very special feahtres, the deaing
belpa moderate and the marke, ialiinQ IA W
interval etwecn the FIRST regular board ana ,ll
second open board aud continuing tlence "eah
Conflicting rnilors were afoat respe. Iing for
wayne, which caused wide fluctuations ID ina
ptoct lat fhcy could not BE- traced TO any .rehso'
eourca RlinoO we're slso started ~ fes"o