, 1865-10-13
FINANCIAL AND COMMERCIAL,


THURSDAY EyESrSd, Oct. Il, 1865
There Ia etitl very active demand for currency
sud tho money market REMAINS stringent and close,
For day or two psst this stingrucy has BEEN
souevhat increased By IN active demand for a1il-
waukee by operators thete, who have been tscr1-
hc.ne exchanges In this market in order 10 procure
currency. Our leading discount houees, however,
arc accommodating their cuetomers spa1lngly at 10
percent rcr annum; but the psivate banks arc gen.
orally charging one per cent commission besides,
which makes the rate equal to about Is per cent
per nEDun- =
It is a noticeable fact that ever since the com.
mcnccment OF the funding Of the Compound In
terest Notes, the money markets lovrrf fhc United
States, from Boston 10 st. Louis, have been work.
ing closer and closer every day. Notwithstanding
The efforts Of some Of the eastern journals to
Tighten Secretary Mccu1loeh into An opposite
policy, it Is gratifying to observe that he st ad-
heres to the doctrine that wu' have TOW TOO much
paper money adoat to be in healthy lnsncial con-
Ittion. Els speech at Fort Wayne Indians, yes
terday 10 be found In another co1umn) furnishes
Ftesh evidence Of the souniness OF his ytewa on
that queetion, and Is assuring to the connty that
he will still further curtail the currency as speedily
as possible.
In this connection VIC would stats that 1t Is to be
regretted that the Hon, Secretary OF the Treasury
hns been forced by the pressure Of public luties 10
decline The invitation extended to him By our meg
chants md bankers to visit city; but it Is grntl
Tying TO know that he has had IN opportunity
while at his home IN 1ndlana 10 express his sentI
ncnts on the an important question Of the finances
oftbe country. ,
The market for Eastern exchange to-day was very
dull and heavy, md rates have still downward:
tendency. The banks generally bought Of their
customers a, Il discount and sold at par; butsome
OF the bankers sold 10 earh other at 15@1-10 dis
count. The market to-day Was depressed by largr
amesnt from Milwaukee having been thrown on
the market. The supply here Is by no means ex-
ccss1ve, and It would be easily handled by OH lead
ing banks but for the scarcity Of currency.
The telegraph this morning informs Us that the
n +. Commercial ol ycstertlay states that the cur
rent Of ade al present Is placing Chicago and Gin
cinnati largely In debt to the East. This applies
more to the current ol trade as it existed month
ego than at present. For several weeks past ont
merchants have bought very sparinsly in New
York, md our aEipmen,s Of course gznln have becn
more than sufficient to supply our merchants with
exchange, A few weeks ago this uns- nor the case,
and our bankers Ind to express currency almost
daily 10 meet their drafts. :.
Owing to decline IN grnln htejghts to-day, the
produce markets ruled Izmer. Flour Was very
quiet. Wheat advanced 1D1hc per bushel. Corn
was steady Rtcndy on No. / and easlet On No, Q
Oats ruled Ac higher at the opening, hut closed
quiet. Rye ndynnccd aG5c per bushel. Barley ,ras
1@1Hc higher. Whtskey was at ally. ProYtsiors
we're frm bet Inactive
Gold ruled 4hade hlghet today. II opened in
New York at tdsx, and closed at -145. The follow
Ing aEe tie quotations telegraphed to James Boyd
~. 49,, ~