The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-11-30
FINANCIAL MATTERs-.THE PROSPECT.
The Cincinnati hrokers are still HAVING

Inc C1nclnnatl OrOkeTS are StlH having |
o rich harvest from the continued high
rate Of exchange on New York. tits ev-
ident from the continued demand for ex.
change that the balance is yet largely
against the West. AS soon as our pro-
ducts are fairly moving, exchange will
decline, but low rate may not be reach
ed for months to come. As long as it
runs above one per cent premium, our
banks can get no useful circulation
The calls on the Kentucky Banks, and
on the State Bank of Indiana for re-
demptions are undated. The Branch
Bank in this city redeemed $4,000 Of
its issue during the past week, being one
tie nth Of its entire present circulation
The Branch at Vincennes has also been
heavily called upon during the past two
weeks. The Henderson Bank paid, on
Friday last, $4,000. These calls were all
from Mckinney, Espy & Co., the Gin
cinnati Agents of the State Bank of
Ohio.
While the balance Of trade continues
SO large against the West, causing so
rapid return Of notes to our banks, it is
idle to expect these banks to render
much accommodation in the way of dis
counts. To do il, might endanger their
safety; or at best would bring upon them
much trouble and loss. II, however, we
can bring about general movement Of
our staples, whereby the exchanges Of
the country can be more nearly equalized
immediate and efficient relief will at once
come, and the banks, with all other in.
terests, will be benefited, and enabled II
come in and aid in lifting up the pros.
trated business of the country. That
this movement will soon begin to an ex
tent to be felt, there is scarce doubt
Prices are settling, and when they shall
have reached safe point for buyers, I
vast amount Of individual Eastern capita
now idle-held out of market-will ap
pear at the West and start the movement
producing decline Of exchange, and en-
able the banks to come forward and lent
their powerful assistance in completing
the work. We are informed that OF
Branch Bank has been discounting pref
ty literally for the times, the past tw
weeks, to enable shippers to forward pro
duce. Nearly all that is going from ou
levee is moved by means obtained iron
the bank. The accommodations are con
fined strictly to actual shipments, in or
der TO help equalize exchanges. Ever
$1,000 worth Of produce that goes Eas
saves the remittance Of $1,000 in golt
and aids in reducing the premium on East
ern bills, and as soon as exchange gets b
icw - per ct. brokers will stop their vi:
Its, and the banks can let out their circul;
ton, and while relieving the money ma
ket, increase their interest account. III
interests of the community and Of ii
banks are identical. The banks are I
anxious to make discounts as sooDas
can be sal ely done, as borrowers are
get the loans. There is no reason 4
the complaints against the banks becau'
they don't let out their circulation, for
is just what they.waDt to do as fast as
can be done with prudence. They hay
deep interest in helping produce 70
ward, thereby reducing exchanges ar
preventing runs on them, which will q
low ,hem to increase their business.