The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-10-07
RAG MONEY w N = IS. ST
Gold Opened at III, Closed at ...ls 70. -MoOev
Slightly IIardenir Call Loans
q Cent.
GOOD SECURITIES GENERALLY FIRM.


men are engaged IN practically solving the real prob
lens or finance than elsewhere No one better than
ms orator understands the art OF soph-
stry or can so well hide facts behind wall OF specious
arguments; yet like others OF his fk Mr. Phillips in
his eagerness TO catch the popular car and so main
tain his reputation as radical loses sight or certain
questions that must be satisfactorily answered before
the nonular mind win be convinced
Frst-IfConQress under pressure should be so mad as
10 authorize the issue Of further currency how viii
obtain circulation? How in the absence OF war or other
stirring events that give employment to money can the
government send 1t forthg If the Secretary or the
Treasury were representative merchant or factor no
might buy our cotton and wheat crops turpentnc and
naval stores set mills at work and miners TO
more in the wealth Of the earth and so find for
millions upon millions but such condition i'm
possibility How then are more greenbacks be is
sued?
Second--If BY any means now unsuggestcd, $50 oo0-
600 or 800 600 600 more we're thrown upon the
kets or the country TO take their natural course
channels of trade would they enterP What enterprises
would they stmuatcr How would they reach the
pockets of the poor man Every schooboy now knows
that the existing depression is the result of overpro-
duction Before we improve we must consume what is
already on hand and produce vacuum that
CAPITAL WILL NATURALLY RUSH IN
10 I'LL We have manufactured more than the country
can absorb We have been exporting government and
wildcat railroad bonds instead OF those articles that
bring TO us profitable return from foreign markets,
and importing meanwhile luxures that have only
served TO feed and pail upon the appetite What are
az hants ~ .ho mhola co,n,r, aoiro ,yi,b c,rrancv
,odar9 No,,tnr !, :. o,,bor ,d Ioctod ~ n vanilla
or ,~rr, - "a ,orror.rr rso !, To All three nor
con, among the cau hams Of wall street snecnlators
Thor - ma o,ba- reo ca, o,r,ber .rnr,v bo rut9
rrociator9 wba, is tho omorn, alroodv o,,s,apdir,
-, 80, !. - s-o, h ~, ,a,,o - oia9 W.
a, 49, - rnor ar ,bo co,ntrv o,o,od ~
dov :, s5s7 certe "a tho dollar eYcent
for tba reason that IL IL not tho
meosnre Of ANYTHING IN chrs,endom but
. r,o,tso :, 49, rhtct ,on ,lo vvandou phmins
would ,cach tho neon,c onrb, never n be rnlaled
corerod n orr ov shores the erccnback and lie twin
che National hark suhserva : certain nnarnese.
ssrace n nation az Al 600 600 or ncone
,bo, with all ,ts boastea resources ,ts money az
circulation &c good only within s own borders and
even there is worth less bv fifteen cents on the dollar
,h, ,h c,r.ria,nr r,odirp, az ,ry o,ber resnoc,ed
nation in the world
r;rau ororv car,,l,s, r,.rcbant and ,vorrirc man
4, ,orostod IN mic o,oetior IT, ,he a,tcr esnor,,uv
s ono az ahsorb,no irtorest since mo, ba reprn ~
onnd and b.altbv cnrrencv senends his welfare the
,o.rross ~ he FOOD .rA ,,b,n ~ -, bo n,vs ana
49, Iac.,- - tts .a,. i. ana. -, osso.so. -
in,rrsi .Iro ,n., t .lvy,vs va,ds,,ct Or hrsbel
l. IL roo,srr,r rovor s vyh,, a., neono ,a,, ana
!, 10 ,-aco - Goa ana Good yovernrnen, 90 intend
:. 49,
STREET RuMoRs
II is gratifying to record to-day the exceptional abb
scnce Of canards especially such as are calculated to
affect the credit Of well known firms The disposition
has OF late been too often exhibited BY reckless opera
tors 10 utter what they know 10 be asehoods and by
mysterious hints and whispers 10 keep the same in cir
cuatIon TO tho end that the market shall be made To-
verish stocks be affected and investors on the long side
frightened The Law Committee Of the Stock Exchange
have time and again sought punish these
offenders but there is apparently power save that
moral influence which respectable brokers can exert 70
prevent the evil the province OF the press
scribe whatever situation may exist and when real
financial disasters the public will be promptly
notified II is therefore not idle than ruinous to
lend willing ear to the stories that are sent flying hap
hazard through tho city until they have been verified
by careful investigation and publicly announced.
the STOCK MARKET
to-day subject TO unusual influences, and the
fluctuations not Of character that requires COM
detail The weakest security the active list
was Missouri Pacific which, after opening at 26 de-
clned to 23k then recovered 10 rs and closed at a.
The condition Of the company win be more fully de-
scrbed below together with the supposed cause OF the
raid that has recently been made upon the stock Lake
Shore was active and sustained by the liberal parchos
that have been made during tho past two or three
DAYS II IS understood that considerable short inter-
est has been covered in this stock and Il Il also alleged
that venerable railway magnet has been large buyer
The September earnings OF the Lake shore. compared
with those OF the same month last year are said 10
show loss or over 5000 600 The opening prce va
M the highest 54aI; the lowest 53ss and the close
AtI western Union was comparatively steady at 7sK
a7sL 7s3z a 7sk Pacific Mail al the opening sold At
sel aez Int subseouently Welded TO ssx and ended
svmpo,betcalv stronger with the rest of the market
A. as Eric was dun al l7kal7a17x Union Pacific
aid not improve. and. after sales at e2k 60
closed at 6la< Northwestern common opened
At 20, fen on 10 ss1 and closed at 3sI.
The preferred stock was quiet at 52sS ST. Paul