Smyrna times., 1865-08-02

Whatever effort may have hcen heretofore mode h
the bus IN gold To put up the price bv creating y
aruhcial scarcity, there is such effort at presen
causes y 0'"'
Much is due, no doubt, to the accumulation r
S26,OOO,OOO Of gold in the Subtreasnry. More th,I
nan inc specie IN the city is locked up in the ,aul,
OF the Government, and the SUPPLY available for in,
por'ers Is thus largely reduced This, when the din
ties average S4OO0C0 day, as at present. will of il
s% S1 JuStliy considerable trmness ia the MARKET
' nave oceh paradlng for some time a spc.
VIC deeIdge OF about 92O,000 000---last Monday II
vas 81, 400 44l-but as il SCENE ,Lc Sta,a p
~"eIe 'he g"d brokers keep their accounts. connts
az '"e specie 1t holds while other banks cou,t ccrt
"eu CHECKS on the State Bank as coin the real
Ige Is probably not higher than Sl5.OGO, ,000 A
ufain o. - oOO,OdO week upon this small fund will
naI my t'l' even IN the absence of an export de-
Appeals are daily made to Secretary NI,Cu,Ioob -
uePete The Sub-treasury of its gold Two precedcnts
"g' MS pam HIS two predecessors fearful of the
.'io''S Vi large accumu!atOns of gold in the Sinh
treasury anticipated the payment Of the counons nm
M 'ne rive Twenty Bonds. But the device failed
eoP'e uid not want their money before it was duc.
l:n ' MA! Nct oohds with one coupon short were
u''Acull OF sale; and foreigners would not remit
'helr coupons before maturity. Icss than ton ncr
'e"'' ol ule anticipate coupons were presented for
J"itht before the regular day. The other method
~ ~ "0Poi"g 'he Treasury yalts--an opcn sale of
'he go'd-"as tried by Mr. Cause Its effect was 10
p'ouuce @ sldden sirIngcncy the money market, |
pane IN stocks aud q Lqrge Qdrgnce m fbe 1re,,,
"m on gold Then, as new the revcnmo r,o1 o"
TOMS 5" slightly Gcd the sum reonrcd for tho
mum Oh i"leLcst On the public debt that Wall
'o' SPccu'dtcd on the possible necessities of the
o'cIi'' III, and !ort seeing that Mr.. Chase might
40 Law 70 Uoy oack The gold he had sold, took care
ai s'"t NJ should not get it back at a profit. The
fil.a,,, n
-"0 same results now. With S26,U00,000 Of gold in
MS nahd' Mr. MCullnch holds some sort of check
:" tie sPtcnlators. If lie lost his specie, he might,
" Ie M e'ent oi a sudden decrease of impOrtati0ns,
ma hlmSclf at their mercy. These considerations
PP0d'' mus tar, to have couHterbalanced in the
o'''dry anna, the reasons which dictated de-
'iet'on OF the Treasury vaults /
20 lar as our foreign trade is concerned il docs
'ot at present Justify an advance in gold. Notwith-
tanui"g large imports AID light exports we are !
"Pplng so many stocks and bonds to Europe that .
nc oaahce OF trade nclines in favor, and bank
- exchange sells considerably below the equivalent
CUM Europe continues TO absorb American Sc. I
uI'tts with as much avidty as ever. Not only are
we wentes, Erie, and Illinois Central sent out tv
'eIS steamer but German demand has sprung up t
y seven lhlres of whch a million 90 out OF, 0
- N average each week At last accounts at Frank n
~ WI &" Is me grcu European marke; for American
~, rs seven lhIriles were quoted within one pei -
'ht ol rive Twen Even the English who led "
,ilHV ny lhe London Tunes during the war missed u
me great baTeslns in Five TweniIes which have iii
III lur'her tnrt he'd opulent Amsterdam, ae now in
ssi!ls 10 buy. al 20, bonds which hey would no, ~
urn Al go ard 40. and, IN the language Of one of y
= - iCud.S' the most active stocks in LOndOnl -
afEe's are American securities" Unless then some m
clueht occurs to check this European appetite Tor ii
nelcdh STOCKS the export Of specie cannot become
&c enough TO affect the market price and SO far as c
g influence of our foreign exchanges is concerned ~
e 9 premium should rather decline than advance
"e "ue cause, doubtless, of the steady advance in TT
{ premium on coin is the continued expansion of ~
per honey 1ha National Bank circulation contir. W.
. 10 increase at the rate OF SO 900 900 week III ..
W 9looUUOOOO, against $l25,O0O,00O on 18th Nav vi
me condition OF the Government issues less is known Sa
me secretary declined 10 furnish on st July the he
ua monthly statement OF the public debt But new Lo
sai lenders hearing compound interest. have been -
IN aud II Is known that notwithstanding receipts w.
SoOO'OOO day from internal and $5 0OO ~
day from sales OfSeven Thires The public cred VI
RS are being paid threefourths Of their claims in tid
b certificates. The expansion takes every shape ~,
IiarPer's Heekig. =!