The New York herald., 1872-12-11
FINANCIAL and COMMERCIAL.
A Steadier but Still Active
Money Market.
FURTHER DECLINE IN GOLD.
The Price Falls to liz 3-8 and
Closes at liz l-2.
Political and Financial Strategy Of
Secretary Boutwell,.
The London Market Lower and
French Rentes Higher.
ADVANCE IN FOREIGN EXCHANGE.
Government Bonds "OH" with
the Decline in Gold.
LIVELY D0INGS AT THE STOCK EXCHANGE.
Henry n. Smith 0uSted from the Presidency
Of Hannibal and st. 10.
"NevER MORE BE OFFICER OF NINE"
Perplexing Prolongation Of the Protracted
Puzzle in Pacific Mail.
Government Bo ndS "0ff" with
the Decline in Gold.
LIVELY DoINGs At The STOCK EXCHANGE.
Henry n. Smith 0uSted from the Presidency
Of Hannibal and st. 10.
"NevER MORE Be OFFICER or MINE" +"
Perplexing Prolongation Of the Protracted
Puzzle in Pacific Mail.

I
TUESDAY, Dec 10-6 M
On 'Ohange to-day cotton continued In mode
fatey fair demand, with prices slightly favoring
the buyer for lots on the "spot," while ''future"
deliveries were barely steady.
FLOUR
was dull and heavy, but not qu0tably lower.
Wheat was easier for the low grades but steady
for prime. Corn was in better demand at i'm
proved prices.
THE EXPORTS OF THE WEEK.
The total exports Of domestic merchandise from
the port of New York for the week ending Decem-
Der 10, 1872 were $4,5s6,Os4.
THE FOREIGN MARKET
The London quotations show decline OF u In
pretty nearly all the United States bonds called in
the English market, and u in Eries, while consols
are reported easier, but without actual change in
prices 1t is dnlcult to explain the heaviness thus
Indicated as existing in the London market un-
less on the hypothesis that the more settled feel.
ing In France is inducing the withdrawal OF the
money sent over when ''the crisis'' OF last week
looked serious. French rentes have advanced to
$3.50.
MONEY ACTIVE.
The money market was active throughout the
day, but without the wide fluctuations that char
acterized the business of Monday. The early de-
mand was sharp at per cent gold, and the first
transactions were at rates ranging from the one
just quoted to as high 1-32 and interest and
possibly Lilo nat. There was a steady relaxation,
however, rom this climax and the last dealings
were at plain 7per cent, the quotation closing
TAT coin per cent. Commercial paper was done
at IL per cent for prime names and quoted 10
~ per cent. Foreign exchange was frmer as a
consequence Of the easier terms for cash gold, the
decline In gold and the uneasiness as to the fate
OF drafts on the suspended Belgium firm of Jacobs
ha hoe Of
1oS,s 1OsA for sixtyday and 1l0s 11O4 for sight
bills.
GOLD DOwN-113 A 1922.
The failure Of the gold clique to stem the down
ward current OF the gold market was more sig
nally Illustrated in the fall to-day from I13 to
112H, the last sales occurring at reaction
to ll2K. The sales of long gold by par
ties who foresee the inevitable consequence Of
q heavy reduction in the imports the coming sea.
son. owing to the over-importatons of the past
year and overstocked supplies of goods now in
market and in warehouse, not to speak of the nor.
NAL tendency OF the gold premium In view of the
increasing prosperity OF the country, readily ex-
plain the decline which viii probably be the faster
henceforward, as 1t had been interrupted by
ARTIFICIAL INFLUENCES.
The Sub-Treasury paid out $31O, 900 on account Of
interest, and $23 600 on account OF redeemed fve-
twenties great many gold brokers are quite
uneasy as to their customers accounts because of
the small margin for which they are carrying gold
and the liability Of the market to decline suddenly
sac per cent any moment. 1t is also well under
stood that Secretary Boutwell, is planning to sue
ceed Senator Wilson In the United States Senate,
and viii exert every effort to depress gold and
make favor with the capitalists and moneyed men
who compose the Massachusetts, Legislature, and
who are desirous Of contraction and
SPECIE PAYMENTS
a. are the creditor class and moneyed men OF the
country in general and OF Massachusetts in par
ticular. The course OF the market is shown in Thea