National Republican. (Washington City (D.C.)) 1872-1888, 1875-02-02
satinaaI gepnblifau
FINANCE AND COMMERCE
Monetary.


WAsHIE6ToS, D. O., Fsb.1snu
Gold closed LIc higher, at 1881. Il has been
two days since we WIsts, and subsequent 10 that
time the market for ali Kinds Of bonds and stocks
shows marked signs Of Improvement.
The 3-65's opened weak 1t ss5<<, and gradually
appreciated till they reached SgH. The action or
Mr.. Dawes, who Is a great friend Of the District.
in recommending the striking out Of the words
sin coin" from the bill appropEfating money to
pay intsreTt q few days ago, Wasas timely as It
has proved sffectual m hurrying thsbilI through,
which was very necessary thing at a short ses-
sion addicted TO hlibusteTtng. To-day when tho
Democratic sidG rose to insert sin currency" the
bondholderS feEVed that the bill WouFt suffer
smother delay, as, II amended, Il would 20 back
TO the Senate again. which might not readily con-
cur. MI. Dawes was troubled and argued against
the amendment awhile, but Anally accepted It,
and the bill was dlspOBed Of by both Houses and
signed by the President and the faith Of the Dis
trlct Of Columbia and Of the United States saysd
IN shorter space Of time than IL could have bssn
SHPsctea; h ne ~, ms IL s reacted the streets
Of last week and Of this morning; but no large
lots were offered under 70; gt1all, 6plS0k. Sci.
lers are few, and there is no 6BgssnsSs to part
with these securities except In cases where money
must DO raised for some purpOGe, when there e
some siiEht concession made. So We must record
small business for to-day.
But amid al this Legislation tao "srsat object.
I've point"-thg direct and unmist skSbis guar.
the sos shall DO paid regularly ~ Il aooTusG and
becomes due ssmlsHnnually-has not yet bu1n
reached There are Significant faets being draWa
out every day nhioh Will greatly tend 10 restore
any shaking or confidence sustained during tho
past week as 10 thS passage or tho bill (rse6ntly
Introduced and Bow pehdinEl for perIegtlhg tho
Government guarantee, Mr., Morrill,, WhO spoke
In the Senate last week for ono VI its most tpOF.
tant committees upon tho interest bin" (hoN
ehaeted) said "ths faith Of tue Government ID
pledged 10 the paymsnt Of the lnteFeIEI' Aad 80
iar as We have Inquired members OF both Houses
IN voting upon the bill "foF the government OF
the DistFiet," So, regarded that as the latent
on the backs Of the bonds,l And comes now the
district Committee, by It's chairman, aubstan-
uatlhg the statements made 10 these columns
that the defect Ia merely the result OF "eleFoAl
error" The creditors OF the District have been
anxious 70 have this measure enacted &C once, as
delay might leave Il TO- the FOrty-tOurth Don
gTess, which Will not understand the matter as
well, or it might lead To the last redrsss-a de-
eisiOn In the Supreme Court OF the United States.
we may look l9r an unWonted activity In 352s
conversion into these bonds amount 10 more than
$40 OOO there must Of certainty be large trans
actions, and with the guarantee perfect they
must reach high figures under an increased de-
mand from abroad.
There is some increase to-day in theinqulry and
indirectly by the call for payment on account Of
permanent Improvement tax Although there is
fair prospect that the market Will be active for
themr holders have made some concessions aad
have more than smet bidders half way." Asa
fresh Democratic member to the FOrty-fOurth
Congress would say, the other side ought to 'cOn-
cess too" But the bids have not quite reached
the figures Of the holders except in a few to-
stances. In short, those bonds are 50 far below
their real value that there are comparatively few
offered for sale.
Governments are higher and would have been
more active today had not investors been seeking
bargains in 365's.
to rs by Messrs. Sherman & Co., bankers, 1i2O
street: