The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-06-03
A Cheerful View Of the
Situation.
THE GOLD CLIQUE IN A MIDDLE.
Kaiser William and Pres
ident MacMahOn.
M ON r Y e A S Y.
Another Report Forthcoming from
Pacific Mail.
WALL STREET.

MONDAY, June 2-6 PM
on 'Change to-day cotton was quiet and steady
for spot while futures were in moderately fair de-
mand at q Nc Improvement. Flour was dull.
Wheat and corn were in demand but at decidedly
lever prices.
THE FOREIGN MARKET.
In consequence Of the holiday abroad, this being
WhitMOnday, we have no London advices, save
press despatch to the London Times, from Berlin,
which states that Germany Is dissatisfied with
President MacMahon's address to the French
Assembly and will not enter INTO regu-
lar diplomatic relations with his government
until satisfied that France will adhere to
the Treaty Of Frankfort. This Is not o statement
Mkely to AFFECT the markets on either side Of the
Atlantic; frst because 1t is improbable, and Sec
endy because the financial world is already aware
that France Is even now prepared to pay to the
uttermost farthing the last instalment OF the in
demnity due on account OF the war. The Bank Of
France has not only offered to advance the amount,
but the people themselves by economical living and
honest industry, have earned and saved enough to
MI the Treasury with more than is sufficient to pay
this public deDt, immense as it has been, and in
another year will be piing up that which will give
France financial prestige and credit which,
under the circumstances, may be written down as
marvel in the history OF nations. Like other in
cidental events that are seized upon in Wall street
when it becomes public property, to affect gold !;
but so lar as we are at present advised, the
has been poured through an English sieve that will
not hold water.
THE MONEY MARKET.
The money market has been easy to borrowers
on call at a per cent, prime mercantile paper
selling readily at q TX per cent. Foreign ex-
change is strong, with more active business,
prime sterling being 1888 Tor prime bankers
sterling and 1922 ITO Tor short sight. The
following are the quotations amended
Sterling, sixty days. commercial, 108 1851; do,
good to prime bankers, 1855 10sT; do, short
sight, lO9H 10; Paris, sixty days, $50 5.25;
do, short sight, 52lA 5.20 Prussan thalers II n
70; Antwerp, 5.271a 5.221s; Switzerland, 5.264
6.21H; Hamburg, 952S 90; Amsterdam, 39A a 4Ol4
Frankfort, 40T Az; Bremen 95h a 90.
The public debt statement for May shows de-
crease In the debt OF $50, O00 The receipts from
customs to-day were s4Os,OO0.
The treasury balances in connection with the
public debt statement follows:-
Currency So 000, 900
COfn 7b,500,000
Outstanding legal tenders ......... 356Oo0. 900
The books Of the Treasury Department show that
$40 900 OF called per cents are still outstanding
The internal revenue receipts to-day were
$3.50 900. 1t is estimated that the receipts for the
GOLD 117h 117z5.
The same muddle exists in the gold market that
has been recorded for several days. The clique
have found it uphill work to fight public sentiment,
and prices instead OF advancing have, from one in
fuence ana another, either steadily held their own
or receded, as was the case to-day. Every effort
has been privately made which the season Of the
year warranted to create speculative feeling and
even the banks have been invoked in taking the
preliminary to lend their power to the monster
combination. Somehow or other, however, the
programme has met with check, and 1t
is now not wholly improbable that the
effort to make q squeeze Will be abandoned. The
action OF Secretary Richardson in announcing his
June policy naturally had its effect to weaken gold
to-day, but there are other and deeper causes be-
yond this mere temporary incentive to q drop
which are likely to act barrier between the
public and any crisis in specie. The following
table will show the fluctuations in gold during the