New-York tribune., 1873-12-16
y'o,.l interest paid.
FIN1NCIIL CURRENTS.
NATURAL RESULTS OF THE IMITATION POLICY OF
SECRETARY RICHARDSON.

NATURAL RESULTS OF THE IMITATION POLICY OF
SECRETARY RICHARDSON.
The imitation policy of Secretary Richardson
continues to give DuOyaucy to the stock market and TO
advance the premium gold. There was q
strong advance early in the dag in stocks.
and gold reached iii. A revival OF the ru-
NOR OF q deficit OF $4,000 was circulated. and
also that the Government wah in the market buying gold
The former report could be either confirmed dis
proved in this city; the atar discrcdted by bank
with whom THE TRIBUNE reporter conversed the
subject. About noon tho substance Of a letter
from Secretary Richardson was made public.
giving his for asking for increased
taxation, and conessng that the debt would be in
creased several millions the present month. and that
only t600O0 Of the 81 100000 legal tender re-
mains in the Treasury also the resolution OF the Ways
and Means Committee that the Secretary of the Treas
ury be authorized, II necessary TO make temporary
loan at low rate interest This aided the afternoon
decline stocks, the chief OF which was the un-
loading by a large number of heavy operators The
market generally closed little above the opening point
Among the Of the day that Of the suspen-
sion OF Austin Baldwin < Co., bankers and foreign ex
change dealers, OF No "a Broadway. This was found
on investigations TO be without foundation, pt that
engagements alleged to have been made by former
employe of the house but OF which there was no ey-
deace their books had been repuddcd by thom, be-
made without authority. They axe meeting all
their engagements and see no prospects OF trouOe o
anv kind
The Assistant United States Treasurer paid out ycser-
,av s227 600 in redemption OF bonds and s5sO0 inter
est account. 1he daily statement from the Treasury
Department At Washington shows further increase III
the ogaltender circulation OF S7790O0 since saturday
The receiver of the National Bank OF the Common
wealth which failed in September last in the early days
dividend To depOsitOrS and holders OF certified
certificates OF deposit vino are not indebted to
the bank The receiver is acting under Instructions
from the Controller of the Currency.
Some OF me creditors OF William A. Woodwatd. VINO
failed in 1871 10 connection with the famous kork Island
pool have decided to institute proceedings against hn
IN bankruptcy for the purpose OF having an ass9nee %
appoiued VIM NJ Earle is one or the largest creditors
has expressed the opinion that some OF WOodwids
assets he declared 10 1871 TO amount 10 SlOo0O
have been transferred and he thinks the appointment
of assignee by the court W Oe or mo interest VI INC
creditors. - 49, $L@
AT meeting of the Board OF Managers OF the Cotton
Exchange. Geo. Cornwall and A. b. Cornwall, constl-
Ge.nstated in the rights oi membership. Cornwall
then Satsi tE6T 5nSsrrs s1asafs wore oily tSnporay.
ANOTHER fIiX f0E REsUIfNG SPECIE PAYMENTS.
Messrs. A. s. Barnes g. Co. have published
Plan for Resumng specie Payments" by x" The
uuknow author is gentleman OF high Professional
standing. entirely disconnected with politics, and
brought consider the question solely from scientific
reasons. He would have the National Banks accnnu-
late the gold which they receive in payment Of interest
on their bonds untl II equals the 25 and Is
per OF their liabilities 10 dep0stots and note hold
required by law. The author considers 1t as
merit his plan that this accumulation OF gold would
release an equal amount Of legaender notes which are
now locked up "a reserve He would have the Ma
tonal Bank notes made legal tender, and
in all respects equal TO tho greenhacks in settle
Of DEBTS, and then pay ther notes IN com on pre-
sentatiou He would prohibit the payment OF interest
on deposits and the corticatOn Of checks without cor
responding balances IN bank Ihe latter ne wOuln ac
connlisb by enforcing the present law. He would in
crease the limit OF the ~, 81 legal tender circulation 10
800 100000 but sj00OOD thereof - currency
reserve IN such way preserve the equilibrium
OF the currency" lie reviews at some length the nn.
iona currency the provisions of which geaeay meet
his approval.