The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-12-09
iTHE NEW YORK MONEY MARKET.
From the Herald

lhe conservative tone of the Presidents and
the wise reeommendation Of Secretary Boutwe 70 defer
in their effect upon tho general business Of the
begotten OF the Tesumpton demands and prophecies of
the more radical organs Of public opinion Tne danger
stead OF permitting the country grow resumption by
the Executive OF tho. nation and his financial min
s The ct FOR the o 6f ,S been
rendered our merchants very The feeling is
,he line of holiday goods it does not produce much
a IT, is 6s shs SaRe's SS Looked for,
ceiling in mereante CIRCLES in consequence Of General
market to-day was active up to o'cioct Previous to
that hour the rate on call with pledge even of
German bankers being large borrowers for the purpose
catch the in the foreign There was also dis
make ov the for oo periods % Ians from
the market rreguary reported borrowers and lenders
of the street six cent tho rate while others
S s hS ss a
of the bonds Bought this noon tho sellers who got their
and hence Offering down the market. Commerciai
paper was steady and without feature. Prime
cent. and inferior grades at twelve TO eighteen
ernment bond market anayorabiy Affected by heavy
decline IN LONDON where the 6's at i've o'clock THIS even
appointment of foreign pecuator at the tenor of the Pre-
sdents message which, from the outery raised by the
press OF this country Just the GOLD panic Of
september they thousht should take strong grounds in
we have often adyerted 70 tho curious Influences of
and foreign However complex these influences IL is
always certain that decline abroad leads to decline
here The difference betw' en- gold and greenbaGk quota
ons u.s. of course the reason nt this intrcacy Th inhe
rent strength given domestic prices by tho conservative
character OF the policy of General Grant and Secretary
Boutwell, combaed the effects of the foreign decline,
here quarter to three eighths per cent only
| per cent in London. The fact further illustrates
influences of the Presidents message upon the gen
city have proted as largely they expected il they
have ALL by their recent purchases governments 20
realize the advance predicted upon expected specie pay
Communications in the Congressional documents
The market the close heavy particularly
nouncement that bill had boeu introduced make the
national banking system free. Whatever strength had
been by the Offer of the Government
buy two millions of bonds to-day counterbalanced bv
large offerings Sub Treasury whore total
the proposals sell five and half millions
fhe gold market strong aud active, the price rising
to 12i The bull movement predicted in the hos ginning
the week has been maintained the adual
each day indicates The bulls encouraged pcrse
we're, owing the absence contraction ideas
public documents and tho chance that Congress will
expand rather than diminish the volume Of currency
especially the two prominent members have al
ready introduced mako the privileges of
tional banking free tho whole country The bears
the contrary selling expectation of the large
gold from the Treasury payment the Janu
airy interest and the attering character
ports of co and produce and the corresponding
exchange