The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-05-23

The Internal Revenue receipts were S425, 600.
The Sub-Treasurer paid out on account OF inter-
est 100000 making the aggregate thus far paid
$e,os7,C0
GOLD sTRoNG-1I7H 11s.
The gold market was not distinguished by any
special feature outside OF a small advance, the
prices lingering around the figures that have pre-
vailed for the last three days. In fact the impress
sion appears to have got out that some secret in
nnence is at work for the creation OF q "corner;"
that some mythical parsonage is laying up store,
which he can already count by the fifteen and
twenty millions, and at the proper moment to him
will "cry havoc and let slip the dogs OF war;"
Hence. Notwithstanding the transactions that are
recorded, there is an unquestionable manifestation
OF caution In the market and an evident unwill-
tngness to
WADE FAR FROM SHORE.
The opinions held with reference to gold are
directly antagonstic. The party who insist that
the present price must yield TO the healthy infu-
ences prevailing at home aud abroad as SHOWN in
the more recent equality between our exports and
Imports, in the condition Of our banking institu-
tons, in the strength OF our American securities
and in the enhanced value OF money itself, are met
by another party likewise confident in the belief,
Arst, That gold Is now at a standard which prac-
tcally preserves the balance OF financial power
because 1t affords backbone to the exporter OF Co
nestle produce; secondly because, we're 1t to be
had at much lower price, the temptation TO ex-
port bullion would produce
CRISIS
that would result only In serious financial disturb
ance, II not disaster. The latter opinion would
seem to be borne out by the active demand for
gold at the government sale to-day, when although
but $1,500,O00 was advertised to be disposed OF,
twenty bids were pat in Tor sums aggregaung
&c. 900. at prices ranging from 1l701 to 11777
$250o,0O0 OF this amount being bid for at the rate
OF l17.75 In this connection 1t appears that Sec
rotary Richardson is beginning to entertain views
OF the gold market quite distinct from those OF his
predecessor, Secretary Boutwell, since it is appar-
ent that his mind is fixed upon the really practical
method OF reaching q specie paying basis In
other words, he is allowing monetary, industrial
and mercantile interests alone to exert their nor
maj force in sowing the great problem In which
Chase bundered
hcULLoCH BUNGLED
ana boutwell, measurably failed. During the four
years OF Boutwcll's administration his chief plan
oi reaching specie payments seemed to be the SIM
pie sale OF the excess OF coin in his pethoric
treasury. Ills lack OF success is Observable I'm the
fact that the gold market at last quietly absorbed
nearly all OF this surplus leaving the Treasury to-
day with barely I'VE millions OF specie it can call
Its own and the price OF gold per cent higher
than 1t was six months ago. II In healthy symp
tom when the present Minister of Finance comes
down from the LOFTY pedestal Of the purely political
economist, throws mere theory 10 the winds and.
clasping hands with the actual, living facts OF the
DAY, adapts himself TO the demands OF trade, ana
90 seeks results that must be the logical conclusion
Impractical experience
the fluctuations OF the gold market to-day are
illustrated by the following table OF quotations -