, 1860-04-03
Financial a11u Commercial.


MospAr EvEn1so. april = lseo
Exchange went down to-day l., tho current
rate being per cent premium for currency.
Some Of the banks sold VI the old figures par.
Of the day; but the decline was generally con.
ccded towards the close 1t is to be hoped TINT
decline Of at least another half will be rcali.c.
within the next few days.
Gold per cent, with no demand,
The demand for money ia still very dull. Dusi.
ness caunot be expected to rcyire tillthe straits
are open aud active shipments commence, we
near OF no arpfehenslons in regard to the puy.
nents OF the LIST snd d4th-Wednesday being Tic
last dag, md we eprcsume they will b. promptly
met,
81. Lou1s.-The Democrat Of Saturday says:
Exchange on the East has been in great d.
uaaaa al u premium 10 day. and will be TO. NOR.
row, II it will still bc time to remit mud meet
payments on the 4tt. At the sub.Treasury its
SAID there is M uouudauce al premium, for
So!o, but huw abundant, or what the amount
j.. has not been stated. On Monday, after the
H1nk statements, It's depths will be sounded by
aA who have gold To-day thss Inter article il
worth II premium for bn lEable funds. although
there is quite scarcity Of this and all other
paper money. There ia no surtlus Of currency,
There is sone more deulaud for cxchHn:e on
tue cootQ Today, hud most sales are ut II t,re.
MUM.
Afler tomorrow, it is hoped tllerc will be
greater ease III the finances generally.
BASK STATEMENTS.
The movement Of tue bauks iu tic four prin-
cipal cities Of the Union, in which weekly re-
ports are made, as shown by their statements,
is as follows:
ro, hcsns - nee:. rsss ,s Gfss?s
New Yonk,-Thc TINS Of Friday says:
The money marke. continues unchanged. De-
nand loans nrc 5tG6 per cent, und pnper is
freely passed ut 5@7 per cent. the bulk Of the
transactions in goud names bcing at per cent
aud undcz. Somc specie is beng sent over to
Do.tnn> anil small! an,uunt alAo TO the South
Treasury Setes are in good inquiry ut per Ct.
premium for the Per cents.
nosroS DASKs.
Annexed is the statement ot the Boston banks
for the last two weeks:
a.'ss = Ma: :! !s Nj ts; :. ::s
9sp.s;;s 9Sss Il; 's'$ s4S 's! i: : as;s S;ss;S:
PROVINCIAL BANK or CANADA PnorosEn-
The Canadian tapers are discussing the pro-
priety Of establishing large bank Of issue
whose bills should be guaranteed by the Gov
ernnent. and ia the cud become tue only notes
in circulation. It is proposed that the uther
banks Withdraw their issues wien their char
ters expire, il not before, aud use the bills Of
the Government bank. We take the following
paragraphs from tue L<odtr Of March .5th:
It is proposed to make the Provincial bank
note, like that If the bank ol EnSlund, a Il. .al
tender. in ordinary commercial transactions.
HT f1tHe
jectnn By the requirement under which the
Province would come tU redeem the notes. in
specie. whenever presented. II It be = sound
principle 10 make tic bunk af England notes
legal tender, though the Governm. III is respon-
ki5ie for their redemption, there surely bet
ter reasons tor giving the same character 10 the
Provincial note. for the redemption Of which
the entire resources Of the Province would he
Liable.
No interference with thq existing tauk char
terra or privileges il PROPOSED. These instilu-
tions would have the option Of continuing us at
present, until the expiration Of their charters.
There is no reason to suppose, however, that
they would offer any obstruction to the new
measure taking full ELECT At once. Is the Pro-
vince would undertake The redemptiop of the
notes Of the bank Of issue, the banks Of dis
count and circulation would be relieved from
the necessity Of keeping on hand large quanti-
ties Of specie; aud in u period Of couuIcrc al
crisis they would be freed from IN immense
joad os anxiety. 6ome rpccie they would OF
course find it convenicut to keep; though it is
improbable shat they would bc willing to under
take the redemption Of tue nutcs in which they
dealt to any considerable extent. For tue sps.
Gle kept by tLesn tor This purpose they would be
allowed ia accounting 10 the bank Of issue for
for interest on the nutcs they received for ciscu-
iAtou. But ~ the iuttcr institution would he
charged with the redemption Of not:s, afl large
amounts requiring TO he cashed would hare to
be presented there. 4 paper currency thus is
sued and guaranteed would bs OF almost equal
ralac with 1hc poics Of tue bank of England
aud would pass current i'll almost any part O: