, 1873-01-28

The foregoing shows that tho advance in the
currency price Of United States bonds during
advance in the price Of gold, though in the case
nf the isis and thu currency IS the advance has
been e and Il OF one per cent more than III the
pr1ce Of gold. It will be seen, however, that
Ibenew per cente. which we're quoted on Jan. Is
stll0ss4 equal to 933s in goll arc now quoted at
lis in currency OF equal to nearly 101 in gold.
This rise, i. il understood, ia artificial and is the
result of the manipulasious OF the Syndicate, who
lind it best to put up the price OF the new per
cents now on tie market in order to make
market for the $500 900, 600 more to out in
their new scheme. Our 10-i0s, with accrued: in
tetest eince Sept. l, 1872. now quoted at ll5Y
ducting Tue ~ Of gold interest," accrued. it
leaves the price Of the bond 931S, or 25s less
than the present artificial pres Of the new per
cents. People who buy bonds will be pretty
sure to figure ths out before thoy give near
~ per cen: more for the new SIS than for the
10 -a0s which bear The same Interest, and ara in
every respect rs good bond. except that the ill.,
terest ia payable sem-annuauy. instead OF
quarterly, ~ on the ner bonds. But whatever
may be the idea Of the Syndicate in advancing
the price of the new bonds temporarily ncw. it
is pretty well understood that they. do not
expect - to make their profit by selling
them At the present premium, but out
OF The use OF Government money. There are
these, Sl33, 900, 900 we7e marketed by the former
Byndicate, nonnnally at about 9939, but really at
9314. AZ far ~ the Government was concerned, as
the profit OF the Syndicate on the Sl33, ,000, 600
-was near 50 COO. 900. Congress having failed to
prohibit the Secretary from repeating the expert
mont. it can safely be assumed that the NEW
Syndicate Will make at least s, ,0O0 600 out Of
their new job, and that the bonds will not net |
the Government any more than the others, say 95
to 50 in gold -.
REPEAISa TIE BANKRUPT LAW.
Last week the views III ali the Washington
kilograms and letters were that the Senate
would not follow the action Of the Honse in
repealing the whole OF the Bankrupt law, but
that as far IS could be ascertained the eenti-
nent Of the Seuate Was in favor OF = repeal Of
the involuntary bankruptcy clause. Later ad-
vices, however, seem to indicate change OF
sentiment in the Senate, and, since partial re-
pesl Of the frankiug privilege, they seem. dis
posed to make clean sweep Of the Bankrupt
law also. The frsnking privilege has, Of coulss.
no legitimate connection with the Bank
rupt faw, but the thoughtless action
Of the Senate in this matter, which
Is likely to lead to sone ridiculous complications
in postal matters, seems to warrant the assump-
lion that the Senate may act ss heedlessly in
this matter as in regard to the frxnking priYi-
lege. In fact b.i: Houses OF Congress seem q !
good deal de1nazxiized aince the Credit Mobilier
developments. Tne financial measures that |
have been introduced in the present Congress |
show that the most prominent men in both |
Houses have learned nothing since last winter, |
and that on the whole, this Congress is con-
trolled more by cliQues, and ia disposed to act |
more hastily than the last.
Maaera limit prastnn r. EeAn nnnta aa fnffnwu |