, 1862-01-23
FINANCIAL AND CONIDIERGIa1,.
MONETARY.

>"' enlcaso e1cels in 70 many departments thai
~ e'e Aahe can embrace all the points of sune
i.ol"5. AS early as 1853 or 1854 we proved that
"as Inc largest primary grain port, and In this
department Of trade she is now lr aea or MI 9TH
- e'4es IN the old world or the new. Her lumber
trade is far ahead Of that of any Other citv ond
no.n Ill the Amount and the quality of her haaf
eneaso stands preem1uent. Several yeara aoo W.
p1eoicted that onr city would pass Cincfnnati in
tne pofh 1fade. but we hardly dared to hopc that
~ uui aA'ieipatlons we're go soon to be realized,
~ 'ehhon Why the transactions Of our business
nsn aie SO enormous, and that 60 much money is
~ w tne business Of Chicago, can be read
49, " an Who understand the magni-
wa 'i"ne' Eech department absorbs capI-
'ai and attention Mt its own particular scason an
az little or nothing is aoy, do;nc avco.,+ ~ -, =
pork trade, the cause of the dn11ness of .hc1,
haFe lately go frequently spoken, il eas;r nnaor-
stood. ~'7A' D''a1i~
New York Exchange is not quite 90 rnpch ,f ,
olng, ont Tie market IL still abandautIy sunn1ied
"s Pf1ce is par; selling i of one per cent
premium. bankers now usually charge J: amonr
| 'nen'ee4fes "hleh shows tlt1er closer market
t ooAp:-1Ae demand for is gold light. Little
| enonses hanos on any terms. Buying nrice s.>n
setns at s@a19, the higher figure for retail Dar.
| GELS. '1-1 f"'-
lhE n. T. BANKs ESDEAyoRsG 70 ,f.rr
eICAF-IA1L OF Treasury No1Es,-Thc.So y-,-n-
| oanks have for some time pretended IN bc ~
Mele rea4y afraid Of 81 over issue of Demand
treasury Notes. Bankers in this city have receiv.
u inc following or simiar Circulars from thc;r
| New York correspondents.
Dr.,s,n|--T TiSSE BS4SE, NET foRK, jan II, 1852,
a,!oa 1 ElA:-Ih1s bank Will receive untii fnrthpr
notice, United States Treasury Entcs nfiI aaaI et
ann c9iIesPondents, Oh deposit and In payment of
co1!cclions @ On the terms Of the annexed contract
only which 5ou requested to si~n an5 ratmr
ps, you desire such notes to be taken on YOUR
fease instruct us as to their receipt in pay1nent
o. your collections, ard in draTinr checta ho-a
after. make them Payable IN Tnited States g.
~''A A'A' 'S'1A n0tes' Yours with respect,
IN StoSs1pEEATI0N. that - Bank sba1l -e,,;o
t1om , me Undersigned, deposit or otherwisc ar
sa ba5 or o. leeSive in payment Of paper held b.
Elgned ut their par value, demand notes or aT any
notes issued OF to be Issued under the autborit r.
nns aGs o' Congress-, and shall pass the notes
credit OF tic undersigned on It's bonEs ~ nha ane
KanE RaTf 'c u hereby agrees with the sad
receive tom said ad Ban Rm t'mes NJ take and
demand notes: promises to pay or currency isancd
l t' % pc assned under like authority OF Congress
N iqn satisfaction Of all credits 50 to b. isca an
pl III abits so to be incurred TO the n,5iersit,"td
pS sala bank in manner aforesaid.
-'eG 1of@, January IA. 1862.
peinals, I'LL OF our banIcrs, reposin- full
commence IN the ability and integrity Of the Gov
elnnieht' have promptly signed and returned the
LIS elect 20 far as it goes is to disc1edit
'teasurs Notcs. and so far don like it at all.
ou' tne SIMILARITY, indeed the identity Of the |
s'oa''o assumed BY the New York Banks to that
ocoup1cdb by ours when receiving Illinois denrec;,
ted bank issncsa few months AGO. becomcs a. onoo
apparent to oil oar readers. The ordinary ru1c Of
MH Ina[ bank
for what it las received "a snch =
undoubtedly sound; bnt whcu +ho
entire currency OF countr7 becomes depreciated |
anu 'ltlatctl, and In fact II cpmmoaty and not |
Aoney. II BANKS and business ncn for auy reason
eo'1uc 10 use it. equity requires that settlements
fnoniu he nladc In the commodity so nscd: and If
aetaal 'al'lc5 in coin are insisted upon corrcspond
lug aedncllons should be made By the crcditvr tn
coHtotha 10 mat standard An adherence IN th;s |
op,1eus anu Just principle would at once settle |
n1f4s 'eAat1ons and expensive lawsuits now nend |
AAS III our cou11e- and unite a large amount of !
property which is likely to be unavailable for rear.
1He p1acticc OF the New York banks, with their
!1ahehse capital, in the matter Of Treasury Sntes
IL complete vindication Of the course nnrsncd bv
our banks in regard to '.1linois .stumnts;l.--a
currency infinitely worse than the issues of tba
Government.
FOREIGN IRADE,-TAe \. T. Times Of SATURDAY.
loo's up the tables showing the condition of tho
fo'easn trade Of the country, from which VIC make
the following extracts:
tha H. ltnpo5t entTcs Of the past week. including
ySs47. total which shows some Improvement IN
.uc !taac over the previous week though still com
palltg uniarorably against S46i5 :}l5 SANE we.i
last year. On the other hand. tic exnoTt nov
Ment y largely in advance Of the same weeIS la
yer thG e. 1otn clearances Of domestic produce BE-
= n Rvni itcf = ma
January 1861. I lie exports OF specie by thr Asia
om eane:dax q az and the steamers on Saturday.
!. Ihc commercial tables for the Calendar year of
d 1S6l oelnS now complete we return, as usual. in
ouI hSes1y comparisons. to the movement Of ti,n
ad 10 eoze On R :Hns s ast
entries OF inc first haf Of the year that Is.
+ rom 1st July to 31st December. were sa7 ?3a mn
Add tAEee weeks in January. .......,, 6.;SS s7y
Total since 1rt Ju1y. ISL .3q5 ~
so'nst same date last fiscal year is SIS, 7oS
Decreased import q, 100 ,oc
The exports Of domestic produce and misc.11,.
?eeus goods. including foreign goods re.cxportcd
:urrent fiscal year, '1'11 " 'ne
July to December 81. wcra..... CT m, mn
Aaa 1hree weeks IN january. y.-...-.... 7.9s0.G GS
.-,;ns, hodal la,na slnee I'M Jnly SIS s1s 2
increased export. 7t....---..-.....S S11, ,675 20.
nc amount OF specie exported for the six months
rem july to December 81, vas, sas1 nm |
soo three weeks in Januarx- s5ei f,t1
Total since 1st july. "a an mn
seuinst same time last fiscal year, s1'fJi IN
Decreased specie export .s1T103 nm
Making the comparisons for the entire wear nj
s61, the Tines remarks:
ii! DC found peculiarly interesting They arc the
Ts1 III The history of cur trade in which the e3nori
tGfdhceS o. ordinary domestic produce. exclusive
the bullion product Of California and exclusive
lso OF lorclyn articles re-c1portcd oye71a}0uce III
HtoT5nsnis gfftaelgt merchandise. They arc nlpo |
'inaEkable as showing the heaviest import Of fur
lgn specie ever Known AID the lightest export Of
~ ase1lcan gold, in any ole year since the acnuisi
on , Q. t9litornia. To the former might nronerly
ao9cd S..711 COO in foreign EoId imnnnrtad {
trough Boston mostly for New York acronnt |
ne year was one Uf extraordinary depression +
1fo1Ea at least seven months in the import trailn
h1ch from the coincident short crops III both ths
fcat Western states Of Europe, the activity onr
Sport trade was unprecedented The cnn1nara
nc results with thu year 1861 are as follows: g.
:G1: Import OF Foreign Goods .S125, ,ess ON
eS9 ie-eAlotleo. o..-.s-----.-...-.---. T.339,G00
Tota1 for this market ~ stte nm mn
f1 4T1b DIAL