New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-06-08
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SATURDAY, June 6-P. NJ.


In the general trade of the city there is no material
change 10 report from the condition of affairs exist
ING week ago. Business in all branches OF trade
continues dull but this is season OF the year when
trade is usually slack. The prominent events of the
week in financial circles have been the retirement
~ SECRETARY Richardson from the Treasury Depart
v,ort the anpOintment of Mr.. BristOw his
ossor the conservative views of the President upon
the financial question: expressed IN memoran"
dpm addressed TO Senator Jones of Nevada, and the
calling in of S5OOO,OO0 more of the $40 bonds OF
1881 against the alleged negotiation OF the same
amount of Five per cents. 1t is too early to speak
of Mr. Bristow's fitness for the lmpor-
tant position he has been called to I'LL;
but the public find consolation In the
universal feeling that Mr. B. must be an improve
, rnent upon his incompetent predecessor The Con-
oressional Conference Committee still have the
Currency bill under consideration and according 70
the tenor of Washington dispatches have agreed
upon two important provislons-one that the
amount of greenbacks TO be retired as new National
bank notes are issued shall be equal TO 81 per cent
of the latter and the other that the redemption OF
legal tenders ID gold bonds at the option OF the
Government shall begin January l, 1878, the latter
provision being one that can be conveniently re-
peaed before the time assigned for its taking effect
IL is hardly probable, however, considering the
published views Of the President upon the question
of specie resumption, that Congress will be able
to agree upon Currency bill which will meet the
Presidential sanction. United States bonds have
been in very good demand but have declined IN
svrupathy with gold. though to a less extent, the
falling off having beentfrOm TO 1t per cent for the
various issues Southern State and railroad bonds
have been heavy on moderate business. The gold
market has been marked by dizziness and declining
prices though there more activity at the close
The range of the week has been 1924 and 1l0h clos
ing at ll0t decline of II per cent from the closing
price of last Saturday. The published views OF the
President had tendency doubt to reduce the
gold premium. The money market has been easy at
2 to per cent on call and Al TO 8 per
cent for first class commercial paper. The
publication at this particular time OF President
Grants views in advocacy of speedy resumption
of specie payments is regarded by malicious people
as "ooincidence" quite as remarkable as that
which the elder Mr.. Weller tells of by which the
voters was upset in that very ditch" Many of the
bulls consider that their last hope dashed by this
unexpected movement, while the bears smile
Bereney and continue to draw blood from their ad-
yersaries. However wholesome, therefore, for the
general business of the country would be the con-
summation of the measures recommended by the
President it would threaten still further loss to the
bull Spectators in stocks. Stock speculation
has been rather more active this week