The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-03-06
FINANCIAL and COMMERCIAL
Instructive Suggestions for Congress
Sional Application.
IETuS DO SOMETHING.
The Plain Issue as Between the People
and Their Representatives.
CURRENT RESULTS.
WALL STREET,

WALL STREBT, |
THURSDAY. March SIS p. M
There was nothing on the street to-day TO invite
speculation. The oficial record Of sales shows
some changes but they were not Of SUFFICIENT I'M
pOrtance to attract attention.
THE ISSUE JOINED
between the street and Mr.. Richardson, as to
whether the bonded debt OF the United States has
been increased contrary to law, is beginning to
excite attention. We have given the complete
figures, but there are men whose prejudices are
even stronger than their mathematical instincts.
For these we have only liberation. Either Mr..
Richardson has increased the bonded debt OF this
country or he has published fraudulent public
debt statement
The HERALD makes no charge of dishonesty
AGAINST Mr.. Richardson. On the contrary,
1T RELIEVES THE PRESENT INCUMBENT
or the Treasury Department from any RESPONSE
bnty on the ground that the supervision Is greater
than his intelligence is able to cover. But We want
m intelligence that can comprehend something
beyond Massachusetts. Senator Morton had
sediment OF truth in what he said the other day.
But this Rocky Mountain craftsmanship needs
purbfng, precisely our forward bulnonists who
would force US into liquidation require check.
The last public debt statement shows an increase
In the puonc debt. 1t is not explained by ''caued
bonds" and the last call expired February /, hav-
IOQ been Issued NOVEMBER DceiuCs, VIC AtCM VI
sscalled bonds ~ taken from the account OF "debs
upon which interest has ceased since maturity"
shows a very small amount outstanding. Now. let
rs get down to a practical basis. No one doubts
Mr.. Richardson's honesty. 1t is the one quality
that has kept him there. But what
do we know OF the men below
him He, good, easy man, may be
deceived but why should we bes Within the last
ten years we have witnessed wave oil corruption
sweep over us that has made o victim Of nearly
every banking house in the country Defafcat ions,
embellishments ana dlstrust have multiplied untii
We did not know where we stood. This is ended.
We have gone into liquidation in these matters as
We have in respect to Others. In the meantime
We want to call public attention to the fact that
the last cali for bonds comprising $1,000 900, was
made November and expired February l, and
that consequently there are no bonds outstanding
now upon which interest is due after the same
were called. This settles the correctness Of the
POINT made here. that the statement OF the public
debt as given to the pubic shows an increase IN
the bonded debt contrary to law.
THE LOCAL SITUATION
was wholly without fresh interest. Money closed
easy at per cent. Foreign exchange was quiet
this afternoon at rates previously quoted.
The customs receipts to-day were 1886, OOo Gold
closed at ll17s, after selling at 111a and 1925 The
rates paid for carrying ranged from 81 per cent
20 nat. The Assistant Treasurer paid out to-day
S172,0Oo on account OF interest and $4,000 in re-
dempton Of fve-rwenty bonds.
IN THE STOCK MARKET
me principal interest centred in the reported
lease of three Cs and l. by the Atlantic and Great
Western. 1t was something like the Old scriptural
image the blind leading the bind. and IT did not
take. Outside OF that there was universal dulness.
ne record OF the market Will be best learned rom
the tables given below.
THE EXTREMES.
The following were the highest and lowest prices