The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-02
FINANCIAL and C0HAERGIiL.

total exports for The expired portion OF the cotton
year are 2277o79 bales against 154l, 400 bales for
the time last year. he stocks at all the ports
are 579731 bales against 49, 700 bales last year.
THE PUBLIC DEBT.
The monthly debt statement is summarized as
follows:-
Total dent April l. ls71.... 800 o07. 500
Total debt March l. 1871. 1920, ,oS,ol6
Decrease. or debt during past month :. Sll,oll $50
Decrease OF debt from March !, 1869, TO
Marcn l, 1871 ...................... 2)t754,4 l3
The last item is Significant in showing that the re-
duction OF the debt is progressing at the rate OF
over hundred millions OF dollars year. The peo-
pie ask, "Are we not going too fastY' The advice
OF the old saying, snake haste slowly" was never
more applicable. The present Congress must re-
duce tile taxes SO az to allow Mr.. Boutwell, Tor his
successor) to pay not ore than twenty-five millions
annually.
THE BANK STATEMENT.
As generally anticipated The bank statement for
the week ending April the vernai period OF none
tary activity proves to be very unfavorable. II Is
the last or about the last week which can expert
ence the outward drain OF currency, and hence
Wall street accepted the bad features OF the state
ment quietly. The stock market was rather better
after the agony Of expectation was over.
The principal changes are loss OF sl,64i,3l5
in specie, and q loss OF s1,922, SOS in
legal reserve $4,000, 1870. The deposits have run
down sae3s. GOT. that the surplus above the Legal
reserve is impaired only s2,e5nOoo. The last men
toned item has III consequence fallen to about
$500 900. The statement contrasts with It's prede
ceasor as follows:-
March %. ADrf1. Changes.
Loans. 49,. s2sl, l4.a2o s2sl.O,2,927 Dec. ssI,3a3
c,rcaian. ai5ss.ass ais5ssso Dec 7sos
Deposits. 225 ia so2 222, lasoes Dec. s,6se,2o7
Legal ten. IS, l9a,4os 53,27o,543 Dcc 1.9.2, 1896
MONEY FOUR TO SIX PER CENT.
The money market was steady at four to i've per
cent until late IN the afternoon, when an active de-
Some few borrowers were late In their accounts
ana had to pay SIX per cent for the accommodation
then afforded them. The discount market was
steady and unchanged.
Foreign exchange was dull at the rates lest
quoted.
GOLD DULL-110ss 110is.
The gold market was steady and rather nrner
until lae in the evening, when the activity OF tho
money market induced The speculative holders Tor
rise to sell out In preference TO taking the of
high carrying rates next week. The only quotations
were 110n and 1l0ls. The mercantile demand In
connection with the heavy I'm ports Of the week
the occasion OF lo-dag's steaainess. me course OF
the market is shown in me tablet
10 A. M.............llo3s T.. M....... HOS
1912 A: M........iio1s 2p. M........ HOS
u ACKNOWLEDGEMENTS. MISUNDERSTANDING $50 F. M..iioa i iios
In the gold loan market the rates ranged from
4 per cent for carrying TO nat for borrowing. The
operations or the Gold Exchange Bank were as fol-
lows
Gold cleared. s2l 800 600
uoiu oaiices. izSo'.sz
currency Daiances. ACKNOWLEDGEMENTS. l3oi, 4yj
GOVERNMENTS STEADY.
The government list was steady and a shade lower
in sympathy with reaction In tue London market.
Its undert0ne was strong, however, ana the
market closed steady, as ioliows:-unlted States
currency Skies, 1863 li57s; do. skies,
1851, registered, 1l62s ll6ss do. do, COUPON,
1903 il6sS; do hye-tweniles. registered May
and November tex-nteresu, lOS5s 1895; 10. do,
1852 coupon, d. l2s Il23s do. do, 1854, do do,
1925 ll21s; 10. do, 1865 do do, 1l2H 1l2s; do
do. registered, January and july, Ill IN do
do 1865, coupon, do. ll1 lllls; DO. do ls67, do.
do, ll1 HIS DO DO. 1858 do DO, ll1s. li1a.;
do ten-iortes, registered, lOsii 1854; do. do,
coupon 1885, 100.
STOCKS Dull, STRONG AND HIGHER.
The stock marke, continued dull under general
lndispositon on the part Cf the utslders to enter
Into any further dealings until they learn something
OF the character Of the Treasury programme for the
current month; and hence the cques continued 10
quietly ABSORB stock with the result OF causing q
general but almost mpcrcepiDle further rise In tue
tide OF prices. Northwest comnon touched S9,.
Reading l0As, ana wabash 5sIs-tne highest points
OF the season. Western Union was exceptionally
weak and ONO AMI Mississippi heavy. otherwise
the market was strong and higher.
TIE APRrL PROGRAMME.
secretary Bout wei was expected In Wall street
to-day, Tut 1t was subsequently, ascertained that he
left Washington too late reach here in business
hours. He will remain several days after his arr-
val. Tie April programme Will doubtless he
The impression this afternoon In the street
IL that the gold sales viii be kept down to
about s2000,0oo per week, but that the gov
eminent bond purchases will he limited to
the offerings made at the Sub-Trcasury In response
to the call for proposals each week, the amount
bought during the month not to exceed $40, 600 600
winch Is the sum OF currency he spare Tor tho
purpose during that time. His present currency
balance is SIS,0OooOc, OF which he can use ut least
So 900, together with the s9,oooo00 derived from
selling $4,000 900 OF gold, not to speak OF such sums
Of internal reycaue as lie VIII receive during tho
mont4.
HIGHEST AND LOWEST PRICES.
The following table shows Tie highest All lowest |
prices Of the leading stocks during the day |
Highss.. forrest. /
New York Central ami Hud. consol.. 06s 054 |
New YORK Central aud HUI. cert..... " ga /
Lrlc. OBSERVATION-DISCLOSURES. 2i1 2lE !
Reading ACKNOWLEDGEMENTS. I0i5s 1884, !
LaAe shore ......................... lJ2ts lV2