New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-04
THE MONEY MARKET.
FRIDAY, April 3-P. NJ.


Business obstinatcly refuses to revive in the face
of the now conceded fact that we are to have large
increase to our dishonOred promises to pay III tne
form of legal tenders and National bank notes. Inc
Of intelligent people have foreseen Tor three VI
four months past that further imitation oil the cur
rency was inevitable. However unsatisfactory anu
illogical may have been the reasons-perhaps apoio
gies would be a more fitting word-gNeh ioi
farther expansion Of the currency 'he i'0'
that it was to come has not been doubted py 'noSo
who have intelligently watched Washington Inc
effect has been favorably felt so far In waist
which has already. to q considerable extent, us
counted the advance in the securities there ue'' III
that was not unreasonably expected to 1olio" 'ho
unwise action of Congress. When the House by an
Unexpectedly large majority, voted Tor Sf9oiVV'VVV
greenbacks stocks madea sharp upward movement
ana when, more recently, the Senate ihoi-
Gated its determination to confirm lne- az
ton of the House in regard TO IL al tenders anu
to deal literally on the question OF more Nationa
bank circulation. stocks again exhibited additional
firmness Further, il is the general behet OF the
Street that, when the initiation measures shall nave
been finally contaminated, there will be stu
further advance in railway shares and other
Wall-st securities a belief which is quite likely
to be justified But the country cannot pros
per upon stock speculation alone, ana IL Is
not an encouraging sign for the iutuio
that during all this discussion in Congress genera
trade has auguished prices OF merchandise ~
rule have steadily declined and the now almost
positive certainty Of further Hood OF paper cur
rency seems to have reviving effect upon genera
commerce. though merchants seem to expect Delter
state of trade soon. aud it is to be hoped that
their authorizations may be realized. Sood
Friday has been very generally observed as
n holiday by the business community htsie
having been done to-day in the way OF trade. lie
Gold Room Stock and other Exchanges have Deen
closed. while the banks snd banking-bouses have
been open as a matter of necessity. Good Friday not
being legal holiday A number of gold dealers
assembled at DclmonicO's In Broad-st, ana maze
some transactions among themselves at 1l3s
TO 49, Nothing was done i'll the way
Of currency legislation 1T Washington to-day
and as the matter now stands the Senate has voted
in favor of $iO00O0000 legal tenders and an equal
amount of National bank circulation. while the
House of Representatives has passed bill for SiOo
100000 legal tenders and seens strongly inclined to
favor the breaking up of the National bank monop-
DIV business aud to establish system of free bank
ing.
The Assistant Treasurer paid ont to-day S3l,oO on
account of interest and S2000in redemption OF 5-2o
bonds. The Customs receipts at this port to-day
were S503OO0 The Treasury balances show: cur
rency s4l5OOOO; coin, S857700OO, less coin certif-
Gates 337 100000. The movement in dry goods for
the week shows $1,39,74S entered for consumption
S5gs,26O Withdrawn from Warehouse and $j22,2o9
warehOuscd.
The Central Railroad Company of New-Jersey has
declared quarterly dividend OF q per cent.
The Controller Of the Currency estimates that
should the Merrimon amendment. providing for
S4GOJ0OoO additional National bank circulation
become 4 law, Sl5,OOO,OOo would be taken up during
the coming year.