, 1860-03-02
:FiuanciaI anu Commercial. |.


MON ETAR4- L
Tnrrsoar Er1x1xo, Ms1ch !. ie$o.
The money market Of the city maintains '1s
stereotyped dullness- Exchange is 1lrm at =
cent for currency. Gold o@aa. Buying rates
4@a below selling.
We have frequently stated that the banks nao
large amounts Of currency lying perfectly 'u'e'
Some Of our ba-kcrs complain that this stale.
meut makes then, great dcal OF tlouble. far-
ties in the city and from tue country arc con
stant1y pressing their claims ior discounts, end
Affect great surprise when their Offers are re-
ected. Some bankers, to sase them from these !
calls. would have us quote money distressingly |
d;ght. We like to accommodate our friends
but ne always state facts just as We believe, or
know them to exist. II the paper presented
don't suit the bankers. let then, reject it. We
now repeat most emphatlcalIy, that no one
need have the least hope Of getting discounts,
unless he has the best kind Of business paper.
The banks here will never employ but small
fraction Of their capital in local papcr, however
good, payable herr. They employ the bulk Of
their funds in discounts, payable in New York.
Those discounts, ut 10 per cent, with exchange
at per cent. premium, will fully explain why a
green horn fails 10 get what money he wants. If
he had uncxceptionnl paper and knew how to
pay legally and politely two or three per cent,
per month, aud no questions asked, he could
hare got half million Of discounts in two
hours any time within the last month. This is
IN enormous, we might add shameful, tax
upon tue business and the industry Of the city.
4},nf1 1o latin IF
capital within the next ten years, will wipe out
this enormous incubus upon cur prosperity.
and afford discounts to our business and man.
ufacturing interests ut reasonable living rates.
e Wcwcre to day shown one dollar bill
Of tue Waupaca Co. (Nis.) Bank, very inGeni-
ousy altered to 1--WE, By surdry crasures and
handling money.
All the issues Of this bank hare the denomi-
nation plainly printed in letters around the up.
per dies, aud hnve fine red lettering in the
ground work Of the bill.--4adi*on journal.
Eoers EAoLEs.-The New York Tribune, in
ahe following paragraph, attributes the bogu.
gold coin which has lately made its appearance
to the adroit villiauy Of John Chinaman:
We described, a few days since, very dan
gerous iraud-a gold eag'e which bud beef
split, aportion Of gold ahstracted, and the va
cancy ti,led with q white base metal, It is uoy
stated that 1Ae white metal il known to the CHI
nese, and tue worl:s anship on the genuine t.
render them Of less value, is done by them, aus
If the United States officers will trace back. o
examine future coins, they will find them e1n:
mating from the Chinese quarters Of San Fra,
cisco. CAL, where many counterfeit gold coin
are ID circulation, a Of. which arc well executed
and taken in the California Branch Mint. Til
metal, lite tho gong metal, is still secret vi.
the Chinese.
EEw Yonk DASks-The following is stat
ment Of the condition Of the Banks Of the Gil
Of New York:
5s:ss s. *,:s:ss:
iss;''on.: D.es. sse: .:s:S De-: Rss:: Il
ILLINOIS BASks.-Wc present to our reade
to-day the quarterly statement Of the "Ag
cultural Bank, Of Marion, ILL.," rs made 10 4
Auditor Of State. for tue quarter ending on t
drst Monday Of January, 1850, aud asks j. si'
pie perusni Of the same. us it conclusively sho'
have Btnls If Issue which depend on their c
cufatlon Us their only means Of support; q
which, instead Of h4{ping the needy merchant
time Of adversely, rot the sane, By compel!i
him, through their irredecmatle currency,
stand d shase Of two per cent. for every doll
The amount of 1oc1 business which Il
Bauk docs is truly aud really n,naziug, and
heartily congratulate Saline county on
wealthy money institutions, as neighhori
Raleigh h. 5 also its share Of them. Look, :
skeptlcs. aud won cr at the bulk Of notes
Bank has on hand!
Amounting ACKNOWLEDGEMENTS. .Ao1N
AL In trlriage"+ ": euFp0tct .
1.o4ns aud nl:cou,.ts.
$?eee On han1 :,
Dfp1sn -ita Of. CT ia. .ks nd Blukers for tic
pufpo'c Of craving Bls"f Ex;hsIgt.: Norm
Total a"oaus'f stock ce:roslt.A viii tie ssae -,
~
II, on Que hand. the !iank is not oyerburl
with deposits, nntcs Of other Banks. specie
ANYTHING ELSE, they ure not on tue other u
bowed dowu with weiElty expenses, for Il
eeem to be, NOTHING. .-Euda's Honey Rtp0r