New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-02-23
THE MONEY MARKET.
TUESDAY. Feb. III. NJ.

There WAS no business done at any OF the
.+ock boards to-day. All were closed
Tbe Injunction upon the kansas Pacific Railway
-.,,cd Al Chambers recently was removed Ivy Judge
sarnard upon an examination OF the case The appca-
zion was made for the purpose of annoying the company
and compelling it TO pay claim the ocers regafuod 10
&c fraudulent ,
% te 10Th inst the amount Of circulation OF National
pa,t noes was 1929 $685. on the LIST Of November,
1902 the legal tenders &C. fractional currency in crcu
jation we're $S9Sl4sO0 making total OF paper money
f sso9 O56 and yesterday tho House OF Representa-
.ves voted TO add TO this amount OF rredeemaoe paper
currency $5OOOOOO TO relieve the farmers of the West
II time that this great truth WAS understood ana pr"
tced in Congress- that rredeemable paper currency
"a the most onerous tax that can be put upon
the labor OF people. With soooOo'oO OF II, 10
we need any more for relief You may ihha'o
the currency, but 1t will not promote inc na'oi"i
prosperity OF the people" Nothing but currency con
version into coin the will OF the holder VIII w s
In 1887 the circulation of bank notes IN the United states
s,,o 900 oo in 1851 il was $2O2 OOO increase OF
as, per cent In 1910 the population of the United states
100000 in 1860 1t 3OOO0o-an increase OF o.
ner cent In 1870 the valuation OF property was
"a O0 o in 1860 II $6l59ooo0Oo-an increase OF
9 per cent DO need three dollars and half now IN
paper money where we needed only one dollar
IN 1851 Shall We ever get back to a
sound basis for all kinds Of business
~ we initiate the currency. patient recovering from
long and severe attack of reapsiDg fever getting
ong we'll his pulse from reduced to lisa when his
physician comes in and orders him dinner OF turtle
soup roastbeef plum.pudding &c, which the patient
eats and instead OF getting better relapses again. and
the pulse goes up and his whole system is disturbed and
out OF order The best thing that the doctors
in Congress do. to let matters alone. and not to
erange everything by imitation Anincrease of currency
will the demand abroad for our Dreadstuns'
neither will it increase consumption at home In ~
years we have sent abroad only an amount OF "hea'
and -four equal to the last three years product IN the
United states Let well enough alone Let us Ooh 70
,be senate for protection IN this hour Of need Let II
save us from being inundated with more paper euIrohcy
On the 10Th inst the banks Of this city held in specie
bank notes and legal tenders sl2etS24 ana OF oeposs
t221Ss6s2 and an excess of legal tenders over the
reserve required 10 be kept by law OF S2o5llb Inc
banks OF Philadelphia and Boston have also large surplus
amounts on deposit II this money was needed at the West
FOR legitimate business it would 80 therefor money like
water ever finds its level 1t will not be forced TO
any profit. II there sections where more bank
facilities are needed the South and West, then
amend the National Bank law, that banks may be or
Ganlzed aud let greenbacks be retired and National
Bank notes take their place. To issue s5OOOOOO more
currency viii be 10 give the Administration as far as the
financial question concerned the "relapsing fever
II can be avoided, and ought TO be-
We are IN receipt Of the 18th annual report OF the Con-
pectcut River Railroad Its earnings for the year end
in Nov 90 1862 $64996; its expenses were fS9S442
net earnings s255753; interest, taxes, dividends &C.
s24s6p9 Surplus, s7,O54 Surplus last report s2O9O92
Making total OF surplus s216l46 Excess Of income over
iS68. 81, $40.