, 1863-05-23
FINANCIAL AND COMMERCIAL
THE MONEY MARKET.

FRIDAY EVENING May q, 1868.
The money market for nll practical purposes
r,;o,+ ,1,,ost oa ro1, In n+a-aotrnod 1y;,h +ho
A'e-' - =, ~, 80 .u
exception OF eight change IN Inc rates OF gold to
s,it the whms OF Wall street, the report for yes
+oraor uob+ a1noo+ - vvau bo re,eat Il for to 5er
n4o"' A's -..',A,," ~ -. =, ~ ~ 1',
money Is Sill aouhdant' hates ol a1scoont o&91o
per cent and all good paper freely and even gladly
t.1or
'.sA 49,
Ne" aofk e1chanse 's eiose ae former sasee' VIZ:
pare5h buying' aell'ng %@A. Most Of the banks
asaa;ana 49, a..n+aa no., 60 ,,ssa 49," ~ =. w..
cessions are etnnteo tney afe maoe only TO tac
best customers.
r,o";nr ~ 1.s, TS haaza ts,o'
sios
Silver 1s1ss. Kentucky ~ a,'a M i,uus ina,,na Stair
Banks loa. Canada 145. New Treasury Notes
'.''''A,, ls1's -, ,'~S ......
Nk" iohh'-1ne ne'aea oi Yesterday says:
;a,t h T. ie , " neGone qate
ernmeut. yhich has accumuIatcd yrry l.r".. snr-
plus in The spb.TreasuEy, but more especially to
; tG as..on t y, ., u, H. wno
Wild speculation IL stocEs. ilasc determined to
check it By calling in their loans aud refusing to
renew thrm-dcenng it safer to lose little inter-
est money than to provoke q financial collapse,
| snrll as would hare followed the late rise hAt 1t
continued. Seven per cent. was very freely paid
70 day fo1 cal loans, and we heard Of Transactions
unusually large margins on call loans.
Gold continues dull at last quotations. Mcrchan-
diEe .novs very slowly, and the inquiry for bills is
| good supply at this figure. A Federal success IN
:hc Southwest, which il confidently anticipated in
many quarters. would at once lead to further fall
| the Qptlonsas couDtry will also probably have the
elect Of increasing our supply Of cotton, and thus
!ns Of the
Philadelphia banks for the last two weeks compare
as follows;
May H. May1s Inc,
Capital stock .. s1l,>15,l45 $ll,slG4s0 $l,9so
Loans. 3G,59a,273 81, s577,30j I'll, 4,1aa
Ducffom otGcr B'ks. as5s.l9 ;3'S6'a1 G51
Due to other Bunks.. 5,e75'es9 s,Sio'6:5 ssssii s
nonoa;t, ....- m o,o -, ., cha ~, n ~ tuG ~
.'''7''''4 '''0'@''o' T. S.c o.
c;rcntat;on eeo, 5oo . sss, ~, = gsS: t=o
''o'.''o s'o'''t<l es''''
THE NATIONAL BASKIsa LAw-Or!S1oS OF TUE
| Nxw CoN1,rgoLLER.-Thc fol}owip, letter g;as in.
| t,a., a.. H., ,,.,,.,4o hrt;t =; 49, IT, T.: -. -
senocu ~ pe p'Naee' pa' u s so eteat IL It's expo
! s'ttons ol the new National banking law, that we
taIse pleasure in laying it before til. public:
mAsia'sstoH' - W Aaj II. 1873
DEAR SIR: From what son may rcrollect OF the
opinions have heretofore expressvd to you upon
at my acceptancs Of the otllcc Of "comptroller' II
under the Sattonal Banking law enacted By Con,
eress at their last session 1thc5elorc consider it
prompted nc to do 80. 4 CAREFUL examination oi
ihe law referred to-made before had tue slight.
cst idra of having any asency in putting it Into
practical opcsation-sAtisfed me- that IT created
system Of banking Which would gradually auper
eede, anil, ne far 'lB circulation Is regarded, ough
to tupeieelc the existiu. corporate banking ineti
among other reasons:
I. ~ this law the faith and resources Of the M
ton arc pledged for the redemption Of the nations
ciations oreanzed under it ore made receivable 10
al pabl1e aneI ekeepe 70, dnt'es At G on imports; a.s
rrdeem the notes that arc to be supplied to them
| me the tosSInment Is bound promptly to recren
tnn af af II, this stonai 80 sa1 Tue teue
! made certain. hut not dollar Of It can eve
y e1 ~ 1i, ~. aeptee,atea N tainc
ndc;onsx 10 o'.ae t IT. s a m q
omed ~ 1ne hr WI wap nase PEN Sistaa
thn ~ sse PALE nn no,rs as " ~
r rha, nrfrr mi fla rrinnnfnn ~ ~" nn ~ ~.
,SIirh # a,thorizps th,. issmc ~ tN' ea'1enef
! !. The fact that the national ] currency Is to b
t. nn,ts onI is sarmr.a H. tbo C1p,.. u.%s " m
w .;vs Il nncarnty ~ ,1,, .he:.i't .tsga u,
county, Which tue notes Of state inatit;ions ~ ~
never nosscsa and canse # to tatc H. n'eee "a
~. c;rcnietinn or r." tbn,es,i1 ~ Io,hp hss 49,
c a1 ,nv !, 4 % iosat oank
! | If thtrr Ia an ayaiIahie sernr;tv baS;n
tt. m. (which tic peopIc have ' 20 frcouantl ut
in,nnd' - she;r sc--arn I" ~ - oi -,
f,@t can harr m certain md ,oah1e s'a3;t ~ W
ntnt; ~ III ,;,m;tJ 1ocst,a ~ MI, .,a.;S SS4s1st q
.,tiuo ~ haa ha.n "r;ssd t ;sn at
ts X; hi,,s,est ,r., ,on i. a - ~. y
~ ,lo @ a's ~ +ha i1itS c.ts ~ ~
10 tGc 11 tf m
= y ,nt ~ ~ 'nT o. aaso4
~ ~ T. nua ~ w @ ~ WI
- a. "u :d ~ 10 ulseuuts au
si!cuia'iol, y tnG WI OF ts manasere, mus ena
p1ns poafa 81 UItsslols 10 control, the bus'nea
o ,;; u. tne caa nave no concen
| lFa1cl ppnL1ca! power. Nor 10 zee now it eau b.