The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1855-03-01
From the Gin. Gazette Of the 92i Of February.
MONETARY AND COMMERCIAL RE-
VIEW

es, favored lenders. Currencyis in only
moderate supply, and this is mostly OF
good character.
In the market for Exchange we have
to notice unusual steadness, the ruling
rates during the week having been4CO3
premium for Eastern Sight Checks, and
Vol prem. for New Orleans--the out.
side rates for Bankers Checks. Bills
are offered to limited extent only. and
FIRST. class Eastern sell at equal to 6(O9$
annum for 80 and so days. Capitalists
are stiiffeluctant to deal in long paper,
but the improvement in feeling with re-
ference to the future, heretofore noticed,
continues, and confidence is daily acqui-
ring strength.
In the uncurrent money market no
change OF importance has taken place.
The Bank of Kanawha has been tranfer.
red from this class, and is now at par
Indiana Free Bank paper we quote as fol-
lows:
RECEIVED AT PAR, FROM CoRREsPoN
DENTS oNLY.--Central Bank. lndianapo.
lis; Traders Bank, Indianapolis; Bank of
the Capitol, indianapolis Savings Bank,
oftho Connersville; ;Fayette County Bank,
Connersville; Gramercy Bank, Lafayette;
New York and Virginia Stock Bank.
FIRST CLAss--AT THREE PER CENT. DIS.
coUNr-Bank Of Indanna, Michigan
City; Bank of Salem, Salem; Canal Bank.
Evansville; Cambridge City Bank, Canls
bridge City; Crescent City Bank, Evans
vile; Farmers Bank, West6eld; Indiana
Bank, Madison; Indiana Stock Bank,
Laporte; Kentucky Stock Bank, Colum.
bus; Prairie City Bank, Terre Haute;
Merchants and Mechanics Bank, New
Albany; Southern Bank, Terre Haute.
SECOND CLAss-AT FIVE PER CENT
DiscouNT.--Ban.; Of Syracuse; Bank o.
Elkhart; Bank of Rockville; Bank o
Goshen; Bank of Mt. Vernon; Salem
Bank of Warsaw; Bank Of Monticello
Brookyille Bank; Hoosier Bank; Lagrange
Bank.
THIRD CLAss--AT NINE PER CENT. DIS
coUNT.-Bank OF Fort Wayne, Tippeca
noe Bank; Indiana Reserve Bank; Bank
of South Bend; Wayne Banks; New York
Stock Bank; Delaware County Bank;
Huntington County Bank; Upper Wa
bash River Bank; Kalamazoo Bank.
FOURTH CLASS Ar FIFTEEN PER CENT
DIscoUNT.-Elkhart County Bank; Far
mers' Bank Jasper; Bank Of Rochester
North Western, Bloomfield; Bank o
Albion.
FIFTH CLAss-AT TWENTY PER CENT
DIscoUNT.-State Stock, Marion; Banl
of Rensselaer,; Shawnee Bank; Bank o
) Covington; State Stock, jamestown
Farm. and Mech, Rensselaer,.
SIXTH CLAss-AT TWENTY TWO PEI
CENT. DIscoUNT.-Bank of Attica; Greer
, County Bank; State Stock, Logansporl
. State Stock, Peru; Bank oi Connersville
l.. Perry County Bank; Traders, Nashville
+, Bank OF Rockport; Webster Bank Plym
outh; Wabash Valley, Valley, Logans
; port.
All others twenty five per cent. dis
count, except Bank of T. Wadsworlh
Orange Bank, Poseyvile; Stark County
Bank; Merchants, Lafayette; Bank o
Bridgeport; State Stock Security, New
port; Merchants, Springfield; which are
80 discount.
Uncurrent money we quote at the fol-
lowing rates Of discount: Circleyille; 5
Kentucky Trust Co.. 65; Newport Safety
Fund, 88a90; Massillon, 80; Virginia
Free Banks, 5; except Trans.Allegheny
20; Tennessee old Banks, 2; do. Free
Banks, 5; illinois solvent, 8; do. broken
25; Wisconsin solvent, 3; do. broken, 25
An immense business is carried on in
uncurrent money, checks on broken ban
kers, &C., out of which heavy profits are
being made, at the expense Of the public,
Of course. Most Of the suspended Bank.
ers have agents employed throughout the
city, for the purchase Of checks on them
SelUes. In this way they are paying of
their debts ct large discount, while
protesting to settle in full with their cred.
itors. In this mode Of doing business
some people may be able to discover frag.
ments Of honor, or justice; but the on.
cient code of honesty would strip it oil
every particle of respectable character.
We live in progressive age, though. II
these parties have cash TO buy checks on
themselves at discount, why do they
not declare dividend! This would be
the proper way to use the money in their
hands, which certainly belongs to their
creditors.
Then in the nncnr rent money business
the necessities Of the public are again
taken advantage of. The rates for In.
diana Free Bank paper are getting up.
and the margin for profits is not now so
large as it was week or two ago. when
every operation yielded clear profit OF
five per cent. But in other uncurrent
funds there is room for a similar improve.
ment Virginia Free Banks, for exam.
Pile, are quoted at 5 per cent. discount;
Illinois solvent, 8 per cent; Tenness, 8
to per cent; Wisconsin, 3 per cent,
Carolina paper is also at a discount of 2
to 5per cent. In New York these Banks
are quoted as follows Virginia. II dis.
count; Trans.Allegheny, 10 dis; illinois.
dis; Tennessee, 3 10 dis; Wisconsin,
dis; South Carolina, It dis; North
Carolina, 81 dis. Most OF the money
purchased at this place is returned to the
Banks for coin or Exchange, but it might.