The New York herald., 1873-11-02
Prices Advance from L to
= Per Cent.
POSITION OF THE BANKS.
Money Stringent and
Gold Steady.
THE PUBLIC DEBT.
Improvement in Railroad and
Government Bonds.
WALL STREET.

WALL STREET. I
SATURDAY. Nov. Id p. M.
The curtain rose to-day on another scene in the
grand spectacular drama Of Buchuism, which has
been In process OF performance for the last two
months. fresh calcium light has been thrown en-
the play-rich and high colOred-a new bit OF
music introduced to usher In the situation and
novel scenic effects brought forth in order to show
on to the best advantage the attractions which in
vite the audience. True, that audience is miscel-
.laneous, consisting chiefly OF
THE WORKING PEOPLE,
the sewing girls and the artisans; but they are
naturally curious as to the denouement. While
anxious TO nave the "dropn rung down on the
various scenes, they still have enough Of
human nature about them to appreciate
the play as it proceeds. And to-day they
saw among the puppets skeleton. 1t danced and
dangled to the movement of invisible hands. 1t
was hideous representative OF a still more hide
ous lie that the people OF America have been liv-
ing for the last ten years. 1t represented
THE FALSE CREDIT
on which commerce has rested; the cant about
financial strength; the thin scafolding on which
men are standing who pretend to build the future
OF America. In other words, great merchants and
great regulations have been compelled to shake
OF their proud flesh, and in bare bones stand in
WIG gaze Ol Cne WOrIu uenuued SuppuantS LOT
mercy ard upheld only because the country" 80
called. could not afford to let them go down below
their knees. 1t seems as If every hour were de-
assesses in banks, and
RANK POISON
lpermeating the whole financial framework; for,
were IL not otherwise, that which is outwardly
strong would not, at this moment, be sustaining
that which Is inwardy weak and invoking the
public to graciously await some hour OF recovery
far on in the future. For the moment Buddhism is
triumphant. The charlatan is on the weaving side.
Well 'nursed," he can snap his fingers In the face
Of the magnates OF the land and DEFY them to let
him go down; for will he say, '.If I am
dragged down shall drag you with me-" and will
they not tremble and repeat "Amenp' But for
tunately, the time is near when this "nursing"
process must cease. Already
THE AMERICAN PEOPLE
are too strong to be fed on the pap dished out by
the ''Casars" Of finance, who themselves, at the
hour when they should exhibit their own strength,
fall hopelessly back and call ior relief They want
something more Of public honor and honesty, and
something less OF that individuality which plants
itself behind bars OF gold and shields falsehood
with q worthless bond. II the recent panic pro-
.duces such result 1t Will not have been fruitless
lesson.
THE EVENTS OF THE DAY
will be found detailed elsewhere, especially those
which concern firms whose names have recently
been mentioned In connection with financial difii-
culties. The banks gained about $4,00o,00o
since yesterday in legal tenders, and now hold
about 900. This sum, however, repre-
sents, it is believed, . gain from the
change OF special deposits to general account.
1t Is understood that at meeting OF the Clearing
House to-day no steps were deemed necessary for
the relief OF large mercantile house announced
to have been in trouble, 'pool" OF merchants in
New York, Boston and Providence having been
formed, who propose to .'carry the concern
through il necessary, by the advance OF
SIS, OOO OOO The latter statement, however, is not
officially verified.
THE MONEY MARKET
during the principal part OF the day was particu-
larry stringent, little currency being on the mar
ket, and call loans ranging from lie to u per cent
and interest The closing rate was at lie, with
exceptional business at per cent. Foreign ex-
change was dull, but firm. This is usually the case
on Saturday. The prime nominal rate was lOeh
for sixty days and 1887 for sight, and the selling
rate LOG q 10S 10sA.
THE UNITED STATES TREASURY.
The receipts from internal revenue to-day we're
1855 eSs and for the fiscal year s33, ABS 1928. The
customs receipts we're $751; ,oo0 The following were
the balances In the Treasury at Washington at the
close OF business to-day
Coin balances. $S2,3l3,5Sl
Ooin certlncates. ZIooy,ooO
Deposits for legal tenders. ............ S,S75,0O0
OutStan nding. Observation-Disclosures. 36O,952,206
The public debt statement shows an increase OF