The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-03-21
FINANCIAL And COMMERCIAL
Continued DulnesS in Trade CirCeS-Waiting
Upon Congressional Action.
WHAT IS THE STANDARD OF VALUE?
The Business Of the Country Entirely at
Sea Without Compass.

WALL STREET,
FRIDAY. March 90 p. NJ.

FRIDAY. March 20-4P. M
Some satisfaction was derived In Wall street
this afternoon when the Information reached 1t
oil Senator Sherman's determined effort to bring
the financial debate to conclusion. His motion
TO make 1t the special order Tor Monday, and alter
one days debate restrict speeches 10 five minutes
and take vote at the end OF two days,
ceived on wall street with many expressions Of
satisfaction. 1t does not appear, however to have
met with the same reception among his colleagues
as many OF them objected TO it, to which senator
Sherman, strong In the immense popular desire
behind him, replied that he would have the bill
made
THE SPECIAL ORDER FOR MONDAY,
and would insist that the Senate continue the con-
sideration of the subject until finally disposed Of
He would an tagonize 1t with every measure that
came up that is, he would move this in Oppos-
ton to all other discuss On), until 1t reached an
ultimate solution. This is good for the Senator
ana, II he succeeds in bringing this much vexed
question to prompt solution, may. with. his
brother Tecumseh's influence, carry him into the
Presidential chair. 1t Is prize worth playing for,
ana the man who brings an end to this
present financial debate in Congress will
deserve well OF the country. II he Will
only determine the quantity OF legal tenders
whether it be 1856. 100000, $685.. 100000 or
$500 00O OOC-he will accomplish much. The country
has been worried into such condition that 1t will
accept any OF these limits, but is wrecked by the
uncertainty.
SUPPOSE THE NORTH POLE SHOULD BE SUDDENLY
AFFECTED
by migratory disposition, and start out on q
junketing tour, a Ia discretion, around the Attic
Circle, what mischief l. would play with our navi-
gators man might start from New York. and as
the magnetic needle would be bound to iollOw the
pole IN its vagareS, in steering for Liverpool no
might find himself entering the Mediterranean
when he thought he was entering the Mersey. Or,
another sailing from Liverpool might mistake the
harDor Of Rio for that OF New York. Still yet, q
vessel starting from here Tor Havana might turn
up at Upernavik, all because they had lost their
reckoning on account OF the shifting quality Of the
pole. Thus
NAVIGATION WOULD BE BROUGHT TO A sTANDsTILL,
commerce would DE paralyzed Mr. Richardson
has produced this result IN the domestic exchanges
by varying the amount OF the legal tenders from
day to day, and this figure may perhaps illustrate
to Congress how terrible have been the effects
lowing thereirom. What we want now, Hrst, Is a
fixed standard-in other words, an adjustment OF
the compass to q stationary pole-then our naviga-
tors in commercial seas can afford to take greater
ventures, and then can afford to make engage.
ments Tor the delivery OF cargoes, satisfied Of our
ability to perform our contracts.
STOCKS
were dull and heavy to-day, without any special
features. simply awaiting an In elgent compre-
tension of their value, which cannot be gained up.
I'll the limit OF the legal tender circulation Is fixed
oy law.
The following were the highest and lowest prices