, 1870-05-12

+ lptcss companiaa could cAr1Y- th1eua-Dut-- n
they are not redeemabla the necessity Of ueln'
, I them stimulates ,spsculatiuu;-: People loo
I around the markets to Zee, what they can bu'
with them, and this makes an. imitation O.
prices generally Under this con litiou Of things
I prices have already baen greatly adVaae, 3D.
Comparing the prices Of to-day With those just
one month ago, we find that wheat h1a
cent?, oats Il cents, and pork % per barrel,
Halfway st0cks hare advanced 10 per-caut on
the average, and souse of the leading stocks
have adFaDeed II por conf- G0Ternmant
4 bonds have advanced about per cent, and
the initiation has, within few lays, reached
year past, have been dead and Improbable
] for speculative operations. Adams has ad-
vanced points, American 4, and United
States 1, CT equivalent to an aEerave adTance
of 10 per ccut in express stocks generally.
Tho advance has BEEN less IN government
bonds than anything else but the prospect OF
4 continued accumulation Of capital sasklugs
investment, together with tic diminish
ing sapp{ 4 f bonds d epa IL tas
upward turn that will not only; be comnnensa-
rate with the advance IN other prices, but will
be more permanent. It is now believed that
tho Treasury purchases for The. sinking and
special funds, win be largely increased betWsen
this and July /, and it Id not improbable that
when the July interest is OH ths 1865 and
1865, they Will be aboys par. in gold In the
meantime, the falling OF in exports OF pro-
ducts which atWaya takas place III June, and
the fslling OF in exports Of bonds, which will
be the necessary result Of their growing scarce,
viii ]aays H tendency to cause exports OF gold
and increaso its price, and an advance
IN the price Of gold would inc.ease ths
currency prices Of bonds as well as Of com
modtes. Now, that such stEatesical schemes
administration wil1 probably favor the straight
Forward tactics OF approaching the 5-2os to
abore par in gold As means of1selling bond
bearlne lower rate OF interest at par. At
any rate, this would be the common sense
policy aud it is not improbable tlnt the ofrorts
now that everything in the financial situation
seems to favor it.
Tho proposal Of A1r. Connor, in tho House
OF Representatives, yesterday. to repeal. the \
act q april L, 1866, has directed public at
tenhon o1 70 it's proriaons. and shown the pro5a-
than that By the acts OF March 8, 1865, aud
OF April -, 1866, tho Secretary is a4thoriselto
make any exchange Of fbonds for Treasury notes
or for other bonds. that he may elect, and may
aas aasp2so o. them when, aoa whore, and how, ho
where the only restriction placed upon
us discretionary powets Being that
10 SHAH not increase the amount of |
the public Indebtedness by any
such exchanges, and that no bonds he may
tse"e @ suMt t ?eat h19aer rate o. inlolese than
Sepcx nv anG xii ~ Tp, ~ " LIZ io ~ antsrost N cur
thar fonr r,;nns os ~ nit T1,to GU cancei more
month The proriso that he shail not increase
xt,, h;e ~ tno lao4e a9oL Wou1a hter1ete
l,efora ia III -os - ne" oonu uRoa tIe masAet,
AZ ns,, ho ha ou ynss ~ eancahed pug II tne
fho viii, 5s1.t uGu ~ 10 n1ean tne amount o.
1 treasury. and in the hands of it's agents, |
lnefe would seem to bo all tho powers hc
aeked for II the Funding bill, except to |
soeree 20 Il tue National Banks, and this was in
nI1dIug BILL
81 ne exports Of cotton since September 1,
lseS, WIG l,aseoo bales, against ,2fs, ,307 in
y. he corresponding time Of last year. This
,noNs ..a ~ ~ mc9easc of 34o 2os bales, rad has
increased tie gold value OF our exports Of cot !
on Sa5!, uJU. .Upu Qyer last year Tf1a Atock Of |