The New York herald., 1871-10-05
FINANCIAL And COMMERCIAL.

lllVhltJi1u nND UUllllUaaUsAih
~ WALL srREwr,
-M std str WEDNESDAY. Oct 4-6P. MI
On 'Change to-day wheat WAS heavy In sympathy
with the decline In gold which checked the export
demand AMI caused lower prices. The cotton
market was trine lower anu barely steady.
D aa, MONEY EASY. Ft
The money market was easy, and after opening
at six per cent, with exceptional transactions at
seven. declined TO I've per cent the closing quota
tiOn At three O'Clock being i've to Elk per cent
Prime com mEercial paper was dull and unchanged.
= The three per cent certificates called In by tho
last order OF the Treasury Will DO redeemed on pre-
sentation, but Will not cease 10 bear interest until
November 80 u
SHARP ADVANCE IN PoREfaN EXCHANGE.
The leading drawers OF bills on Europe advanced
their. rates quite sharply on the accumulation of
evidence that the bull movement In the gold market
has been abandoned, and, In anticipation OF pos
sible further increase tomorrow OF the Bank or
England rate OF discount. At least the prospect Of
easy terms for cash goo has diverted to investment
in bills much Of the coin capital recently employed
in the gold market. the following were
the rates at tho close OF misunderstanding
sixty days, commercial 1us q los,s; good
to prime bankers, 1osK . 1osA; short sight,
109,E . lo9X; Paris, sixty days. As2k G2s,<;
short sight 6.271s 62ek; Antwerp. $50 S.2S;
Switzerland. 5.2sN 5.23x; Hamburg. S5,i s51s;
Amsterdam. 4oH al; Frankfort 4oX AK;
Bremen, rs a 7sK; Pruss.an fhalers, nix TAX.
THE GOVERNMENT PURCHASE OF BoNDs.4 u
The Assistant Treasurer In ths city inauguratcd
the October programme OF Treasury operations with
the purchase OF two millions OF nve twenties. he
was onered q total Of $3,sll,T5o bonds at prices
ranging from liz. 10 to 1l3.75-god at the same time
beng l1a.75--a considerable Improvement In the
tone Of the market as compared with few weeks
since. The accepted TWO millions COST ll2.7a
u29s. sog gst5 Nhl A-.@
rs ala GOVERNMENTS L0wER.
The government list sympathized with gold and
WAS lower In currency prices, with hrm undertone,
Illustrated better in reduction OF prices to gold
standard, which would show an Improvement The
weaker feeling IN the gold market caused sudden
\ rise In the. currency bonds TO ll4X (which ngure
does not include the accrued interest," these
!, issues being quoted In this fashion excep-
tionaliyy. the market retained Its strength
to the close, when the Following street
quotations were made:--United States currency
sizes, 1l4x lis; do. do, lsslr registered, ll7H
nix; do. do. coupon INK 11S; do. fve-twen-
ties, registered, May add November, 1925 112K;
do do. 1859, coupon, do, 115x l16X; do. do.
1854, do. do, ll5sS l15N; do. do 1855. do. do,
l15x 115X; do. do, registered, January and
July, 1l4,s l14I; do. do, 1885, coupon, do,
ll4K 114s1; DO. do, 1857, 90. do.. ll4h a fl4x:
do. do, 1853, do. do, l14X lis; do. teniorties
registered, Ill Q 1ll54; do. do. coupon, l1lS
l1lx. naa-
GOLD LowTR-114 11aX A ia.
The gold market continued declining, under fur.
ther sales by parties connected with or sympathzng
with the recent speculation on the bull SIDE, and
got down as far as i13X, when some apprehension
began be ielt ~ to further advance in the rate
OF the Bank OF England, which, coupled with the
1n-<~ cfAr
stoned reversal OF the temporary sentiment OF the
Gold Room and return to ia. The market seems
Just now to be- Influenced by little OF special effort
on the part OF any organized clique, II we except
rho operations OF two or three large dealers
generally credited with being Interested In further
decline; and It's movements to-day, both at nrst and
In the reaction, had more the appearance OF being
normal than any noticed III several months. II Is
almost certain that the market Ia without artificial
support, hence the average quotation OF to-day,
which was fully per cent higher than the quota
ton last spring. is striking commentary on the
cxtravagaEt Introduction OF foreign goods the past
year. The point TO which gold may decline without
being cheaper for export than domestic mcrchan.
disc was Indicated vaguely II may be- by the fact
tnat alter two weeks OF active shipments Of wheat
ana cotton the market for those tw staples came 10
standstn to-day because OF tho inability to Ill
orders under the lower ruling OF gold. IL Is cause
OF dccp regret aud no little humiliation that the
road TO specie payments Is thus periodically OBJ
structed and our progress DELAYED BY unoreseen CIR
cumstances, or by matters which are not SUM-
ciently estimated in n consideration or this qnes-
ton The magnificent resources OF tho country
assure US, however. that the approach to specie
payments, ike road down u mountain side, may
be Irregular and now up and now down, but Is ever
tending to the level plain below. The or the
market Is shown In tho table, n
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