The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-08-05
THE NEW YORK MONEY MARKET.

The following extracts show the state OF the New
York money market yesterday
From the Herald.
ain the absence OF matter OF more pressing mo-
ment, of a more exciting nature, the public debt
statement of Secretary Boutwell, last issued has pro-
yOked more comment tnan previous ones ana the
feeling is very general that the omission OF the Pa
cihc Railroad bonds from the general summary OF
the Government liabilities is both puerile and unwise
on the part of the Secretary. In referring to the
matter here yesterday and urging the equal obga-
ton which these bonds impose upon the
spoken of in the terms which, allowing
the greatest freedom OF Discrimination between the
two asses of securities, they could ut the worst only
he regarded by Mr. Boutwell,, the object being to
exhibit in the strongest light the really insgnih
cant character OF the distinction. But the fact is
this difference is in reality no difference at Ill,
and has no existence except in our own hopeful
anticpatiOns. The Pacific Railroad bonds are to
all ntens and purposes Government bonds as
much as the fve-twentes, ten-fOrtes or any other
issue, and bear upon their face the promise of the
Government to pay AT maturity, with interest in the
interim, without any reservation or equVOcatOn
whatever in the same full and complete language
as other bonds. ncy were regarded by all former
Secretaries, and by them included in all statements
of the public debit and the distinction raised by the
present Secretary while not regarded of sufficient
moment to affect their status in the market yet it is
looked upon by many as to a certain extent unjust
to very large number Of the creditors of the Gov
ernment, viz the holders of these bonds. His re-
fusal to accept them as security for the national
bank issues has had more damaging effect in many
quarters, this discrimination against a currency
bond being looked upon as indicating the Secretary
TO be at the same time bulOnist and possessed OF
but little faith in the prospect OF early resump-
tOn of specie payments
Observation-Disclosures Buterheld to-day inaugu-
rated the programme of August purchases by buying
on account Of the Government the first two millions
of the Five-tweny bonds, to be held subject to the
future order Of Congress The aggregate amount
offered was si2l29U0, being only about One-half that
rendered on former occasions, thus indicating the
rapid reduction of the amount in the market There
is future source OF trouble in this depetion of the
street in the matter of Government that
is not apparently sufficiently regarded
in these days of easy money. At present
tiag npinp nn1lo
which loans of large sums are readily obtanable on
call. OF course numerous transactions occur in
stocks, but they have never been regarded with the
same laNOr. In the event OF any sudden pinch in
the money market or severe disturbance of values
crnmonts, very many houses would find it difficult to
make up their balances readily ana much inconVe-
nience with perhaps some loss, would result
According TO the terms OF the sale payment is
made in one-third greenbacEs and :two-thirds ma
tiOnal bank notes thus. while the bank will gain in
their supply of currency by these purchases the
legal-tender reserves viii not be very much bene-
lifted thereby As consequence Of the small
amount offered the Government, the market for
bonds to-day was generally strong and buOyant
towards the close OF business on the Five-twentes,
although little unsteady on some of the issues
tortes and currency tOnds were firm and active
through the day, with a further advance in prices.
The market closed strong at clock at the following
tgures-united States 6s 1881, registered, l2424.
12b; do. do, coupon, 12iai@l25 DO 520s, registered
l25A@ l24 do do coupon 1862, l26@l254 do. DO,
coupon 1864, 1898 ,6123fs do.do coupon, 1865 1885
OLA; do. do, coupon, new, lS65, 122Sa122 (;
dO do, coupon 1867, 1929 i@l225 do. dO.. coupon
1865. 1872 o@l227 do. 10 4Os, registered ll2G li9H
do TO-, coupon, 1l6a1l6a; currency bonds, 1896
ll1k.
''Ihe gold market has been unusually dull aud
steady all day. The premium opened AT 1856 and
ranged on extreme quotations between that igure
and l35H, the bulk OF the days transactions, which
were however, below the average, being at 1852 "a
1855.
"In the loan market -, ANA : per cent. were
paid for carrying before Clearing House time subse-
quently per cent, and an exceptional transaction
is reported at HAT for borrowing.
'Thc China to day took oup SE00,00O in specie.
Foreign exchange is without new features and
steady at previous rates, Notwithstanding 90
days commercial, 1O9h@l094i; good 10 prime
bankers, lO93tNllUia short sight, l1OL@1lOH
Paris, go days 51sal05I3sI; short sight, $3.50
511l{ Antwerp, Bliss 2i@51Sii; Switzerland, 5Isai
@513h; Hamburg 35 @36.a Amsterdam tO]Ga
l0&; Frankfort, 40AmiOS; Bremen, 7Saa@I9h
Pmssian thalers, T04@Hh.'