New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-13
FROM PHILADELPHIA.

The position Of the Money market here presents
come features which are worth recording. Twenty
years have operated to produce apernanent change
IN the value Of money in Philadelphia Everyday
admits il to be worth ten per cent per anhuin AZ
Me least, while thousands not only estimate IL d.
twelve. but so use it that it steadily produces that
return, even in seasons Of reputed abundance Ihs
word abundance, az it familiarity occurs IN Inc
money articles of our newspapers, has an extremely
limited meannp-no other than that money IL
abundant in stock circles and among those who do
1T want it. Outside OF this comparatively limited
range it possesses no real meaning for IL Is noto-
nous that at the very time when such abundance IA
daily ehronicled as being the greatest prime paper
4 .elEpo AZ two per cent month, and transient
ham. are made at quarter per cent day, and
this goes on the whole year round. The paper IL
peapy prime because il is certain TO be paid, but it
"a such o. does not enjoy reputation 30 widely
spread az that Of very prominent houses. Often
tunes il 10 protected by BndOubtsd cOllateras. Then
The market has never been clear Of railroad paper,
made to correspond with whatever amount the
lender has hand, also protected by collateral, and
ut one to two per cent. The temporary loans al
saarter day are made for week or longer, as all
who loan in this way gather up crowd OF Gus
TONERS who keep their capital in constant use.
Taking then the average Of these transactions, 1t IL
readily seen that it must far exceed twelve per cent
per snnum. But many OF the banks DIVIDE ten, AID
even more SO do our best Railroads and Insurance
Eompanies and these are dividends to be relied on
Tor a series of years.
Such, then, being the position Of money with az,
Il it not perfectly reasonable to say that its average
value is ~ per cent all the year round in Phadel
phia 1t is quite certain that hundreds OF our ctl-
zens have been acting On this impression during
the last ten years and that during the whole OF
that period the number of mOney-lenders has been
steadily increasing. The capital introduced INTO
the business has also been steadily augmnting. If
the banks profit by loaning on personal securities,
why may not individuals profit also, seeing that
they at least set the usury laws at defiance and
take with impumty the highest rates they can get
The argument is direct and simple and has found
hundreds Of new believers. Then, again, the an
cient Odium which attached 10 shaving has died
out, while, On the other hand, the business COM
munity has become recOnciled tO tho rates, and
pays them without imagining that any less severe
had ever prevailed. Merchants have withdrawn
from selling dry goods to engage in money lending,
and mortgages have been converted into cash Orthe
same purpose. Little Offices are multiplied in all
fhe avenues radiating from the Exchange in which
shavers sit from ten TIL three O'Clock, waiting not
vainly for their customers. At three O'Clock they
shut up and go home. The days work is over, and
they have made enough. II is an easy occupation,
and lies snugly in nutshell; no wonder It's pro-
stable snugness has captivated 80 many. Ii is
true that some of them have last year been utterly
ruined, yet others have grown rich upon very email
capitals. Some with larger have become
enormously wealthy. The lame ducks limp away
and drop out of sight but the successful "nes stand
up az shining examples of good luck, and serve 10
stimulate new hands to embark i'll the same business
Then, again, foreign capital has been sent out IN
1 Emf n..s ga
NAV appear no matter how great the capital devoted
70 private lending, there ls demand Tor II an
The banks arc VIGOROUSLY unable to absorb all the
paper which their customers hold, and many IN con-
sequence abandon them altogether, and rely upon
the private lender. There is never scarcity OF
paper, never lack of borrowers, but always
dearth of money, in spite Of the quotations that
"money is very abundant" A carefully made esti-
mate Of the amount of capital held and used by the
private bankers and money-lenjers of this city.
previous 10 the late Crisis, has asccrtalned That IL
was fully $50, zoo, 000-mOre than that OF all the
banks Indeed, the business Of tins community
would become measurably stagnant, II tins private
capital were to be withdrawn from use. The sound
uess Of our banks at this moment may he attributed
10 ito existence. The real shock OF the crisis has
fallen moro heavily on the mOney-lenders than on
them-they hold more of the suspended paper than
the banks Had the whole load rested on the banks
alone their suspension would haye been the synonym
for liquidation.
Your correspondent 90 S." who writes from
Washington in calculation of the Central-American
Conspiracy, has hit the nail on the head. There is
more on that subject to be disclOsed-he knows
what il is. pray that he gives the whole of it to
The TRIBUNE. BE il noted that the Black Power
has ceased 10 make threats il did afOretme-that
1t is now quiet as TO dsunion. But this qulctness
u only apparent, it is not real 1t is moving along
steahily and silently, but not the less surely to
ali fha Atarun
this-he must be in possession of the clue The
programme of these disorganzers is known, and he
must have it, Let him give il 10 us in full. Trust
not too much to Mr.. Douglas. Can We SO soon for
get that sl the bloody time when an armed mob Of
Mssourisss stole the ballot boxes in Kansas, drove
the judges from the polls and cut the thronts OF her
peaceful citizens, Mr.. Douglas was not only blind
but dumb So, too, was he when the Black Power
incarnate smote down Mr.. Sumner in the Senate
Chamber. Mr.. Forney, too, found nothing TO say.
So, too, with the crowd that now follow at their
heels. What means the sudden conviction with
these men thai Kansas has been wrOnged and ought
TO be rightedl pause iii doubt aud mistrust at
men whose eyes are so suddenly opened to
wrong now which they knew year ago was foul Us
he'll itself Stand fast, Republicans, everywhere;
be not carried away with admiration Of these I'M
natural flashes of light. Confidence is plant of
allow growth, and veterans are, after all, the only
sure dependence in pitched battle.
Many Of our churches and schools are now being
visited by the Rev. Lloyd Breok, who has just re-
turned to bis native city from the far Northwest
como 200 miles above st. Paul, where he has been
hborisg many years at the head Of a missionary
College for Outstanding the Indians. Mr.. Breck
some seventeen years ago established a mission st
kashots, IN Wisconsin, for the purpose of training
missionaries for the Indians, their training to be
done In the rough, wild country where their abOrs
were to be employed, thus fitting them from the
outset for the hard duties of the forest missionary
instead OF taking them as formerly from the com.
forts of civilized life and pungins them suddenly