The New York herald., 1872-10-05

Car0lnas. The following were the closing quota
tions:-Tennessee, ex coupon. 72h 70; do., new,
72k 70; Virginia, ex coupon, a4k %; do., regis
tered stock, old, 81 40; DO, sixes consolidated
bonds SO 6OH; do. skies, deferred scrip, 10 III
Georgia skies, 70 a 70; do. sevens. SO 50; North
Carolina ex coupon, 81 "a; do, new, 10 20; do,
special tax 10 a IA; Missouri skies. 92 q 92h; do,
Hannibal and st Joseph, 80 si; Louisiana skies,
SO a 81; do. levee skies, so 90; do do eights, 70
rs; Alabama fves IS Q 62; do. eights. 80 o IS;
south Carolina skies, 40 So; do, new, January
and July, 23 "a; do, do, April and October, %
26; Arkansas skies, funded, Al a so.
STOCKS UNSETTLED.
The stock market was weak at the opening and
the "bears" succeeded In depressing prices fur
ther u u per cent, their operations being directed
against Northwestern and Pacific Mail chiefly, the
decline In which caused active weakness in the
list generally, New York Central going or to Ola
and Lake Shore TO $685. Northwestern fell to 6sls
and Pacific Mail to 74,s. In the afternoon WASH
ington despatch asserting that Secretary Boutwell,
had power to Issue
FIFTY MILLIONS OF GIEENBAcKs,
and suggesting the inference that he would exert
his authority, If necessary in order to relieve the
money market checked the decline and started a
reaction, the rally being helped by the closing re-
Taxation in money. With the recovery in prices,
back to nearly the opening figures In many in
stances, the market became very dull and closed
so. AS to the ftymlllion story it is an idle matter
which should not be given second thought by
any one who is interested or contemplates being
interested in the market. The extra issue re-
icrred to in this
WASHINGTON TELEGRAM
was sanctioned by Congress for the purpose OF re-
deeming the three per cents, which are now almost
all redeemed Besides, the legal tender decision
of the Supreme Court OF the United States pre-
vents the further issue Of legal tenders by the gov
ernment for any purpose, declaring that the power
to create such money which existed during the
necessities OF period of war wholly ceased with
the end of the war. If the Secretary OF the Treas
ury desires to ease the money market his simplest
plan is to buy bonds with gold direct, at least to
vary his operations SO as to pay out all the cur
rency lie receives above the ordinary working bal
ance, which he might do by buying bonds with cur
rency and gold alternately. Indeed,
FUTURE GENERATION,
IL not an older era Of the existing generation may
go so lar as to impeach Mr.. Boutwell, for redeeming
the debt at costly premium. which lie will seem
to have been doing decade OF years hence when
with gold at par, the public shall see in the records
of the Treasury Department the cancellation of
fve-twenties at 11s a liz per cent. How much
more businesslike, if not statesmanlike 1t would
seem If the records stated that the debt had been
cancelled at SO "a per cent under Mr. Boutwell's
management. The October statement of the public
debt makes the total amount of the outstanding
THREE PER CENTS
only six and half millions, of which two and
half millions is called for redemption before the 1st
of fDecember. The wabash election resulted in the
reelection Of Mr. Azariah Boody as President Erie
was exceptionally firm throughout the day, and
advanced to 4s&. Apprehensons OF another ''cor-
ner" are entertained. Harlem declined to 1lO.
The Express stocks were weak, American declining
TO 67 and WcilsFargo to Sc. Atlantic Mail con-
tinued active, with q rise to 2Oa and relapse to
20.
HIGHEST AND LOWEST PRICES.