New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-03-10
WEDNESDAY, March 9-P. ".


1t is somewhat of q remarkable fact, that the
decline in the price Of gold has not as yet produced any
strngency in the money market frightened the screws
in financial matters. Money remains very easy and the
rates on lcal the we have given for some
weeks Prime commercial paper is readily taken at
per cent and but little of it offered in the market paper
not rated !, sells at higher rates.
On the ID day of June 1902 gold quoted at the Cold
Exchange at 1884 1861 and the 9TH Of July 10 and
lOt II gold recedes in price this year. as 1t rose IN 1862
may lookout foesumption about Monday the Fourth
of July next aud then ceebrahnoher victory and pro
claim to the world that pay our debts OF all kinds IN
the currency OF the word-gold.
The London Times OF Feb "a thus writes OF the decision
Of tho Legal Tender law:
This act OF the Supreme Court in annullng the retro
spectlvo action the Legal Tender act must go far TO
reassure those VINO feared that the authority OF the
Judicature had been Temedlaby weakened by the Cvl
War in America. 1t would not, believe be possible TO
mention decision OF more tnomeutous importance, OF
one the grounds Of which were more independently
Investigated 1t is true that cry has been already
approve fresh appointments to the court unless
the recent judgment; but it is difficult to believe that
law.abidUg people would seriously think OF striking so
fatal blow at tho integrity of the administration
of Justice Diminishing this outrageous suggestion,
il must be observed that the result OF the trial
England aud IN Germany. The holders OF the securi-
ties OF all the States except Massachusetts nave snce
1852 been paid paper their interest accrung under
bonds given before that date, and some OF them whose
bonds nave matured have been paid off IN the same de
against the wrong they have suffered and the CORE
spondence between the agent Of the Messrs Rothscld
and the Treasurer of Pennsylvania Will DE remembered
from the extraordinary tone adopted by that state
official The decision OF the supreme Court would seem
give TO all foreigners who nave thus Deeh receiving
paper uader protest, discharge Of contracts made
when the currency cOin right TO sue the States
Indebted TO them for the difference in value between
what they received and what was their due We DO not
understand any answer could be set up TO such
claim Difficulties might be thrown IN the way OF SUIT
ors but the which they would resort would be
Federal and Courts and ultimate success ought
a. be certain. IL is probable that united aud prompt
aSlon would produce "a settlement satisfactory to credit
did not even restore the hnahclaI reputation OF
the States In question
state cannot be sued The only way the bondhoders
can reach State is by petition We trust that al! the
States Will take action at IN regard TO the payment
OF interest gold from present indications such action
will not cost them anything 1t is however IN the time
of trial that integrity brought to the test and during
all our years Of trial. Massachusetts, held TO her integrity
and honestly paid interest in gold. There were no
protests against her.
The excitement in the Gold Room has continued to-
day. and the anxiety fed by the sale OF sO0OO0 Of
gold by the Government in the desire TO know how much
would be offered for it.
At 10 IN the Gold Exchange gold sold at ll05 fat
$685. IlOi lIC2 1Ol l5 H. II, ll. 1919, llO5: l2i2
40. 1880, III l, hog; $780, ma 2Ol, llll; 1884, lh
and closed at at llt After the close Of the Gold EX
change it sold at llOE at AGO. OialOs Reports
from Washington state the the Funding bill
will be taken tonight Holders of gold paid fat" to
per cent for carrying balances.
For the sl,OOOOOO Government Gold offered today
there were bids for s325O,OOO Messrs. Humbert Bros
bid for 81 OOO-l0G0; Messrs. Trevor Colgate for
from no. 20 to 1906 John r. Lockwood sa5OOOO
llOE Blake Bros. 100000 FROM lO7t to 1905 c. r.
Bailey. 100000 llO0l, &c. The following were the
awards: