The New York herald., 1876-01-17
FINANCIAL And COMMERCIAL.
Condition of the Currency
Question in Congress.
REVIEW OF THE SITUATION.
Some Curious Commentaries on Commerce
Centennial PrOspects-The Stock Mar
ket and Its Yagaries-MOney,
Gold and Bonds.
WALL STREET,

SUNDAY Jan 10, 1875
glance back at the course prices for the last
weeks exhibits very decided change In the tone of the
stock market The community at large had got to con-
slider year 1878 sort OF baeful demon that pos
sessIng the body polite must exercised before
sortunate days could be enjoyed How this fell spirit
was to be laid was entirely clear, but there
strong belief and trust that of the year
vas TO produce a necromancer that would make all
,hngs right with OF his wand.
Faith and hope In better condition
OF things cherished to the point OF super
stition by numbers Of people who neither cared nor
inquired into the why they entertained them
but simply had dogged belief in the adage that 1t was
a long lane which had turning, and that it was
about time there should be twist in it now There
others, however. who took matter of fact view
the FUTURE trained to forecast events and draw
logical deductions from their observations These
equally sanguine as the mere theorists, but
gave plausible and in practical for
the belief that the country had the worst OF its
dark days. They cited the Centennial Ex-
hbition and its beneficial results, born OF
mutual admiration and patriotic fervor; they
dwelt on tho very important truth that
the days OF liquidation drawing to close, and
That the house OF trade and commerce had been pretty
we'll swept and garnished generally set in order;
they showed that the great railroads OF the country
were reporting increased earnings, with diminished
desire to massacre each other bv 'cutting under;,
they pointed the vast sums which were to be dis
tributed by government corporate Institutions,
and they wound up by the maxim, or less sound,
that determination for change fer the better
half achieving it, Hope and faith are strong clements
Of fsuccess, and when backed by determination offer
sturdy shoulder to the wheel
so blind believers in better days joined hands with
the shrewder analysts, and the result has been
effort passably successful to drag the car OF specula
tion out Of the rut where it has been long mired
The first week in the month was however disappont
ing one, There was feeling that somehow business
was to with the chimes that proclaimed the
birth OF the year, and when, the contrary the
stock market Jagged and money was quoted tight and
orders few and far between, brokers down in the
mouth and expressed their disgust by redundancy Of
adjcctives which not to be found in the
dictionary Things looked decidedly better however,
in the second week, the just passed The bull
party pitched into the market tail up and head low
is be the of major when he
business Bears were gored, in instances killed
outright las records OF failures showl and generally de-
moralized and put to flight In fact is demonstrabe
that of them have borrowed the hide and horns
Of their opponents and masquerading in the
market first class bovines But the disguise is too
thin deceive and the first break the share list will
develop teeth and claws
The manipulators in the market who believers in
higher prices have by mastery and vigorous move
ment, impaired q strength to stocks which has been
lacking for many week. They have BESIDES created
nrm belief that affairs last permanently the
mend; they have also acquired large blocks Of stock
AS 1t does yet appear that outside customers
crowdng into the Offices OF commission brokers pur-
chasers Of rattlerap non-dvdend paying shares the
question arises What are they going TO do with this
additional load? While first class interest paying
rifles attracting investors at the high rates
which rule the speculative stock market still rests in
the hands OF professional operators who orophesyng
approaching millennium Of prosperity day will be
equally ready talk the bottomless pit TO you
morrow.
TUE CURRENCY QUESTION
With the reassemblng OF Congress after the holidays
the financial question has again ioomed into promi-
nence and invited the of the currency doctors
in both houses Numerous bills have been introduced
by individual members each warranted by its own
progentor the sure panacea for country's
HIGHEST AND LOWEST PRICES.
The following table shows the extreme fluctuations