The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-24
FINANCIAL And COMMERCIAL
HOLIDAY REFLECTION.
1'0W Exemplars" as a Moral and Ma
terial Influence Upon Values.
The Lesson of the Day Oh
rectly Applied.
GU RRENT CHANG E S.
WALL STREET,
MONDAY, Feb. %, 1874.

WALL STREET, |
MONDAY, Feb o. 1874.
To-day was observed q close holiday on the
street, and but few OF It's hG0tt,leS put In an ap-
pearance there during the day. Some OF those
restless souls who haunt the envirOns Of the Stock
Exchange on business days. in the firm belief tnat
they are dong something for q living, surveyed
the building early In the day as II to satisfy them
selves that 1t remained intact in the shadow OF
holiday, but left soon in the confidence that IL
would again furnish the opportunity for the de-
velopment Of their favorite industry on future
occasion. There is
AN APPROPRIATENESS IN THIS COMPLIMENT
to the memory OF Washington on the part OF such
An important business interest as Is represented
on Wall street which might be fruitful
OF thought to Congress at the present time
1t would but apply the test. 1t
recalls how large was the mental stature OF the
men OF Washngton's day who sat in the councils
Of che nation, and how dwarfed they nave since
become. Compare Alexander Hamilton with the
Treasury secretaries OF to-day and one can at once
measure the difference. OF course the labor i'm
posed upon the two In their relative positions
Is largely dissimilar, but is not the impress upon
the financial thought OF the country equally
marked in It's dissimilarityG There is encourage
ment. however, in the apparent purpose OF Con.
gress at the present time to do the best 1t can
under existing circumstances.
TIE BATTLE THUS FAR BETWEEN THE INFLATIONIsTs
AND CONTRACTIONISTS
has leaned to the side Of the former with such
government, however, on the part Of the latter as
has already very largely reduced the chances OF
danger In such policy.
And here arises another thought that Is appro-
pirate and becoming this day. 1t would be, per-
haps, as well in the future discussion Of the
financial problem II less stress was laid upon the
wants OF the different sections of the Union and
moro patriotic tone used in considering the wants
Oftle entire country as an example for future gen.
feraCOns. 1t Is eminently proper on this day OF
the year or all others, not even excepting the
Fourth OF July, that we should bear in mind that
there is no North, no South, no East no West in q
true financial sense, and that the argument
which Is so strongly brought home to the under
standing and action of Congress that the West
wants the Improvement OF the Mississippi in order
to emancipate itself from the imperiousness OF
Eastern domination in regard to transportation Is
NEITHER JUST NOR WISE.
There Is not any such degree Of antagonism be-
tween the sections in respect to their future
growth as to call for the use Of any such argument
to induce the united Congressional bouy TO prop.
erly consider the claims OF each In the matter Of
appropriations. It Is not prudent either to foster
the growth Of any such idea In view OF the posi-
billty OF conflict likely to be precipitated by such
views among people so high spirited ana jealous
of their rights as are our people. We have had,
unfortunately, one great struggle growing out Of
that same feeling OF jealousy and intolerance Of
financial domination. We should bring home to US
on this day the lesson Of that great atrcida strife
which arrayed even the descendants OF washing
ton against the Union he had helped to
found. Let the memory Of Washington point
IN no mn ac1 Ia
'ofgenerous 1orbearance in our mutual labor Of
perpetuating the work he wrought. These dis.
eliminating remarks, coming from public men, as
to the separate interests Of the East and West
have an element Of danger in them that ought not
to DE lost sight of on this day, but ind In its OBJ.
servance the necessary lesson, Omitted we stand,
divided we TALL"
As was previously given notice of,
THERE WAS NO MARKET.
The stock Exchange, the Gold Room and the banks
keeping the state holiday in the fulness OF OBJ
seIvanCe; the Sub-Treasury, the Custom House
and the Post ONCE paying that courtesy of recog.
milton which invokes the closing of business at an
early hour. The London market for American
securities rejected the condition Of the holiday
here in being very quiet, without any fresh ea.
rure OF interest The amount OF bullion withdrawn
from the Bank Of England was f424, 900. Consols
a.
New York Central Railway shares were firmer at
95H. Paris rentes were easier at 59f Ioc.
WASHINGTON FURNISHED NOTHING
of interest to the general contribution OF thought
upon the current situation. The Senate adjourned
without transacting any business. 1t is stated an
effort will be made to have the vote instructing
the Finance Committee to report bill innating
the currency sac, 00O 900 recOnsidered. The legal
tenders outstanding to-day 1881 1877, being
without change since Saturday. Business In all
the departments was virtually suspended. The
internal revenue receipts to-day were $751; 900
Later 1t was telegraphed from Washington that
several members OF the House Committee on the
judiciary say the Geneva Award Distribution bill
will not probably be ready to report for week to
come, and that thus far no formal votes have been
taken on any OF the propositions before them.
General Butler says, in his opinion, bill SINH
lar to that reported by him last Congress
will be agreed by the committee
IN the absence Of any market OF course
vns assurance was without influence. A similar
indifference In present effects met the announce
ment from London that special despatch TO the
Times, from Calcutta says $50 900 persons are dis
tressed from want OF food in the districts OF
Tirh0ot and BogiipOor. Presidency OF Bengal The
same despatch says l. Is estimated that but for the
aid furnished by the government 500, 600 persons
would perish. The financial value OF this desperate
condition Of things In India is Of nature to AFFECT
both our grain and cotton markets. and is likely to
have an important bearing upon our foreign ex.
changes months hence 1t realizes to us at the
present time, perhaps, larger appreciation OF the
value OF that Christian charity which just now il
making such grand exhibition OF the fellow feel
ing which is the corner stone Of civilization. India
addresses itself now to the world for aid, which, 1t
is TO be hoped, In the interest Of the starving
thousands will not wait to be organized. suffer-
ing people ask for bread; let US not dare to offer
them stone.
As there has been no market for two days tae
closing prices OF Saturday are again worth repro
ducuon to furnish a starting point for the new
business.
CLOSING PRICES OF STOCKS SATURDAY p. NJ
western Union Telegraph, 76x a 1919; Panama,
ll61 lloT Delaware, LacKawanna and western.
n ~ Mail