Thursday, December 28, 1865.
At this period of the year there is never a great deal doing in the most flourishing commercial times.
It cannot be expected that we could have anything but a very dull market now. The suspension of transportation for the holidays cuts off supplies temporaries, and the trade is merely local.
The gold market shows a slight appreciation in greenbacks.
In New York, gold stands at $4.45 ½. Here the buying price to-day is $1.44½; selling, $1.45½. The policy recommended by Mr. McCulloch
, Secretary of the Treasury
, and concurred in by the Congress
, for reducing the circulation of Government paper, has probably had its effect.
Yet the resolution of Congress in pursuance of the ideas of the Secretary
, touching a resumption of specie payments, shows that body not to be in a hurry.
The Congress used the language that it was proper that there should be a return to the specie standard "as early as the business interests of the country will permit." That is quite indefinite enough, and has no doubt given much case to communities fearful of the revulsion to be caused by a sudden reduction of the currency to the specie point.
The National Intelligencer
says truly that the withdrawal of two hundred millions of legal tenders would not do this.
visiting her husband.