The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-08-25
THE GOLD SPECULATION.
Dur Railroad Bonds StrOng--.Their Value for
Permanent Investment.
THE BANK STATEMENT.
Stocks During the Week---Closing
Prices, &c.
WALL STREET.
SUNDAY. August "a, 1871


There are no questions Of graver importance to
Tthe people at large to the producer, consumer
and capitalist than those connected with our ex-
ports and imports. And yet, vast are the In
terests involved, there few topics the details
OF which are so little understood as these. True,
we OF New York are furnished from week
20 week and month to month, with tables OF
values, representing incoming and outgoing
wealth; but, unfortunately, they concern the
metropolis alone, and afford no absolute data on
(which calculations can be based as to the actual
condition of the country its wants. The evil,
however is not without remedy. The informa-
zion can and ought to be obtained by the govern
ment. Just as
''OLD PROBABILITIEs''
receives from his signal stations in every part Of
the country the daily record OF the phenomena
OF the atmosphere, so can the Secre-
tary of the Treasury order the light
ming to hash from every Custom House In
the United States at least once week the amount
OF exports and imports that have passed through
official channels. Those collected in Washington
may then be transmitted to the press in the same
manner that we now receive the daily currency
balances, and the facts they convey would
constitute the most important record
that emanates from the Treasury Department be-
cause they will present bird's-eye view or the
from month TO month. The most
NOTABLE FEATURES OF THE PAST WEEK
have been the manifest hardening OF money the
decline OF sterling exchange and the renewed
activity IN gold. the fluctuations in interest rates
on call loans have been considerable, the extremes
being * and per cent. These rates, however,
were exceptional, the bulk OF business being done
on the basis OF and per cent. The speculation
In gold has not been without its influence in this
department OF the market; but it is confidently
believed that
FRESH CAPITAL
win seek the street to take advantage Of the ad-
vance. Time loans have likewise hardened during
che week. They are now quoted at per cent for
thirty days, per cent Tor sixty days, and per
cent gold per cent for ninety days and the bal
ance OF the year. Discounts are quoted at 81
per cent according to date OF ma
xurity. Business in exchange suffered
check In consequence OF the rise IN gold The re-
ceipts from customs continue to represent the &C.
Nvity OF our imports, and all the signs point to
sprghty business season, many Western mer-
chants being In the city to consummate their pur-
chases
THE COURSE OF THE GOLD SPECULATION
nas necessarily created no little feverishness in
financial circles, because Of the possibility Of a
s.squeezer THAI will for the moment disturb
che harmony OF trade II such be the in
acntion OF those who control gold 1t has
not yet been made public, the advance
OF the week having been only per cent
sbe principal rise taking place after the sale Of the
government gold on Thursday. The extremes were
ll5k li6x. There has been no manifestation Of
weakness the part OF the operator and hit should
appear the remembrance Of the sudden move OF
the preceding week, when single broker bought
eight or ten millions OF dollars and turned the tide
70 the disadvantage OF the ''shorts," win make
eycry one suspicious OF another stroke Of strategy
THE BANK STATEMENT.
me hank statement In unfavorabe, inasmuch as
n shows still further progress towards the mini
mum point Last week the excess over the legal
~ PER cent reserve was se66i,2oo. This week 1t Is
but ss,s5o,l.s--a decrease OF s2,7l4o25. This de-
crease n exhibited In loans, specie, circulation, de-
po.its and legal tenders II ~ easy to account ier
shs loss OF specie. much OF u having gone into the
Treasury for customs payments; but the move
-nent IN legal tenders appears TO be enveloped in
some doubt The percentage OF reserve to liabili-
sses of the national banks Is 22s OF tue state banks
aAss. the average being 2s.72 per cent. The loans
of the banks were decreased f2es2, 200 during the
veek The following n a comparison OF the aver.
srcs for the past two weeks