, 1865-05-18
FINANCIAL AND COMMERCIAL
MONETARY.


WkDsEsDAI EVENING, My II. 1855.
For eeverM weeks past Ne hsye noticed pars.
graphs floating around the columns Of Soma lead
Ing Eastern, and few Western journals, relative
to d commercial convention which Ia to be held
1t Detroit in July next Tho precise objact OF tho
Convention has not been announced, but the main
idea conveyed In the ardcles referred to, would
Indicate N attempt to preserve the Reciprocity
treaty with canada, or, failing in that, to take i'm
mediate stepA towards forming anew one. As our
readers well kno1, the TRIBUNE defended the
Reciprocity Treaty Al long az 1t possibly could,
Lot because Of any dfrtct advantage which the
United States gainsd by 1t, but because 1t furnish
ed competing outlet to Western produce. The
New York canals have proved insufficient
to move our immense crops at reason.
able rate, and VIC looked upon the
st. Lawrence route as the only one which would
save the West from the rapaclty and greed OF Nav
York carriers. But Congress has abolished the
Treaty in question, md Minister Adams has notl-
ned the British government OF out determination
to allow Canada hereafter to occupy her true po-
siuon as mere English colony; and this haste
to save the old Treaty, OF even frame a new one
IL unaeemly. It does not look well. We know,
and our Detroit nefohbors also know, that the
Reciprocity Treaty Was and II Of much greater
yalue to Canada than to the United States,
and it would bs IN much, better tas:e 10 Walt for
tE
far as We are aware, the United States does not
owe Canada any faysra. For four years past she
hss feted and feasted, snd marnited our slave
holding traitors, s1sasstns, thieves and pirates,
s1d her preEs and people, a. whole, haye follow
cd the lead of England, and given tSeir aid, com.
fort and sympathy to the alaveholdcrs' rebellion.
There were exceptions to thla, Of course, but
these Of 10, little account that till very rc-
C: nsly, 1t WAS almost impossible for loyal Amer
3rur m nth nF% rr5*.
Slater line without being insulted. II ls
not more than two, years since the Presi.
dent oil the lsadipg railway In Csnads rushed
with open arne to the traitor Vallandl9hao, and
presided at grand festival given In his honor
1, is more recent ntit1 that Canada Afforded
asylum TO The ST. Albans ulurdesc1s. aud 1eco1-
nixed ard upheld the Judges who refused to de-
liver them up to justice. Such being the c.sc,
would 1t Iot be well to allow our Canadian neigh
tors, whom We wieh no hatm, to cool their heels
on the door stsp, before embracing them7 We
hsye no disposition to hasbor unk!nd1Y feelings
toward them, but thtre IL something due to our
own dignity and ssltre.pect as nation, which We
u ust observe, come what may. It may be bu.i-
ntes.likc to have wedding follow close on the
heels Of divorce, but to say tie least 1t Is not
becoming.
Thote ID another point 1t would be well 10 TO-
member. Before the Reciprocity Treaty Was In
existence, there VAS strong annexation ps<ty In
Catada: but with the prosperity which the Treaty
brought, al Get1res for annexation died out.
While we are moi an1tous to fostcr the policy Of
ningliDg the population of Canad1 with that Of
the United States, have disposition to inter-
fere With the dcsire the part Of the Canadians to
become members Of the Great Republic.
As for Detroit, II Ghc kuffer1 materially On &C
count Of the loss OF tho little ret.l trade IN eggs
butter and vegetables which she has with the
small towns the Canada sidc Of tho river, SUBJ
srrfpt1on can b. raised In the various commercial
centres which will be satisfactory to her. Chicago
will contribute Its ehare. -.
TO-DAY ihe general markets were dull and
depressed, with Tho exception Of whelt for
which there vas an increased shipping demand.
Flour vas dull and depres1cd; Wheat advanced
S55c per huahel; Corn aDsc lower; and Oats
were 4c lower. Provisions ras also particularly
dull, md ne note further decifnein Mess Pork
of5oc per brl. nigh"1ues were more active but
shade lower.
There rss very active demand for money at
Of currency il reduced, and the market Is m
usu1llJ clote. The leading bankers however
were discountins primo produce paper to their
best customers ut 10 per cent per annum; but
quite number Of good borrowers we're tefu1ed
accommodations. Apart from the decrease in the
supply OF currency, there Is less disposition on
the part Of lenders to take rsks in the preaeut un-
eettled condition Of tbs markets. Business on tho
Htseet wss active at 192 per cent per mouth.
The supply Of Eastern exchange increases slow
II, and with N active demand the market remains
nrm 1t par buying, aud premium selling.
Gold opened in Now Fork to-day Ut 1870, decltntd
to 1921, advanced TO 1901 aud closed at p. na. at
1:r4- The following are the quotations tele-