, 1866-08-31

In local etoCkh there Is very little doing, but the
market Is strong. Cook County rs arc In good
demand at 81, with sellers al fs.
In Cur issue Of yesterday VIC mentioned tho feet
that the Bank OF Montreal had accepted lhc psopo-
sition Of The Canadian Government in reference
to the Canada National Currency Aci, The Issue
Of legal tenders under this act Is a0o, ,o, all OF
which have been taken BY the tlsnk shore named.
This rendern it unnecessary for tbs othes cansdfau
banks to surrender shctr circulation, OF the de-
bsntarea on which the cl:calation Is based. bat
there Is no doubt hat 1t Will be more 0. less inter
eercd with unless shep gal tenders can be thrown
back OH the Bank Of Montreal fastetk han it can
pay them ont One feature In ho bill i looked
upon ns being Objectionable that part
Of the Issue thall be 1cdecmabIe at Toronto, aud
part at Montreal making either snbJectto express
charges Or commission. by which the specie yalno
Of the note Is not wholly secured. The
Bank Of Montreal will be paid one
per cent per annnm Tor handling
the legal tenders, and gets all its debcntnse loans
TO The Government paid 1t par, through the pub
lie, as the legal tenders are paid. The specie re-
serve will he about IS per cont Of the outstanding
isenc. II IS evident that the lank circulation Of
CnEadn must give way TO tho legal tendesE, Md
the Goycl ntncnt will have perpetual loan, alter
1sst ut a!f per cent; mcantrac II will cost what
fs paid to tic Dan! OF Montreal for the surrender
Of Its calculation, or Per cent per ananm On one
Oa4 1uc AssEeu- III IElasH LUZ &nls CssaEc
III Tic BankiBg system, the Usuty law4 are en-
ircly abolished on all convertible business paper
as II preliminary ntoren.cn! thr Government ad~
vertiscl for somc &2,05n,Go0 10 meet its wants
during Tic r,escm year, but The people did not
rcepond-a resui, that ia not without political ag
nidenncc. !:
THE Philadelphia Ir<ss Of Tuesday Gays
"The future eonsur OF The money market appears
TO he toward greater ease, and hnsincss men OF
~ nt1fn S1.nt
toannl1c funds for bono time 10 como will bc so
largely In cxccss Of the demand, that rates Of i
tcrst will be lower than they have ever been be-
toic and furthermore, tAat 1t viii bo impossible
for banEs and money lenders to nsc their surplus
funta IN loans nj any rate. ana that they will be
tozced ta buy Government or other securities tu
order to earn Interest on liclr money"
-Finauciai matters in 1nuiAyillc ase working
cloec, but as must pcraons lave ordered thcs hal
nnccs to lie returned hire tue strInscncy can only
prevail for short time. Good, au!'stauciai uauca
ilnl difficulty in being placed al per cent, and
the ranc ratc prevails for good secnrlt1cs for col
lalerala. Gold wns higher Today. sycll rs Gov
c:nmcn,a. Exchange continues dill and inactive,
buying al 1-10l.a discount, anu scl!iny at LUG
TO discount 8
- The Agra & Masterman's 1ank, according
to the cstima,ca ma1c TIP to the 7tl Of juno, tic
date Of tue lau1c, had liabilities 10 the amouar Of
.'.'' .'a,, I -":,. n,,t ~, asro.1.ass y
csuHae1 " "a'e oeen u'a"n wv ~ ,t ~
Calcutta Jtst before the sloPrage, and t2oO,ouu
which was paid to French creditors by tho Paris
h,anch, making Tic present total Es.SMao9, on
which disrnd OF Ave ehl1lnss in tic pound will
probably be paid September H. The entire num-
bes Of crctlItors is not 1G.tf1. of WHOM, mora
tLan &, 600 will take dividends. In Ioudon.
rho wholn n'sn'cF Of Satsshai nanNs IN oPc.
ration IS ,'7' WIN nil aggregate eifca'ation OF
ff NJ rf,ta vn1HR1
SCI 3tU were jss,,cd tirring the mast week. The
Treasurer OF ,bc United States Inns la r,.sscsson
t!ni,c,f sf,,rs bon,1a nmnuntino tn saaa :.s1 I'm
.N.'1s'. J ~ a,..,s's.s ~ ~ Est,s~s,
os seGAtAlcs 1uE e'Eu1tieE tHIcs " rAti"bA!