The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-09-05
FINANCE AND oTRADE.
Ffnau ciaI and Commercial Isens.

By orders from the Secretary of the
the further purchases Of 7-3O
notes of the issues of June and July,
1868, have been stopped. The reasons
for this action are that the work of de-
pleting the heavy balance of idle money
in the Treasury has been to a. great ex-
tent accomplished; and that the books
have to be made up for the monthly
statement Of the debt which is to ap-
pear early this week. When that re-
port is out we shall know the precise
amount of the Treasury purchases of
notes and that of the sales Of gold and
bonds. That these transactions have
been so conducted as to cause large dis
of currency, we know by
the effect produced on the money mar
ket, which serves as q tOlerably relia-
Bile index just now of the outflow of
currency from the Treasury. 1t is stated
as possible, however, that the purchases
of 7-30s will, if necessary, be renewed
next month, and will 60 on to any ex-
tent that may be expedient, or until
the balance of idle money in the Golfers
of the government is brought down to
a more adequate working average. Mr..
efforts to reduce his bal
ance have been generally regarded with
much satisfaction. The amount of7-30s
bought by the government during last
week is estimated at six to seven mil
lions. From the 18th of August to the
9th inclusive, Sl4,500,000 of compound
notes have been presented at the Sub
treasury of New York for redemption,
of which S13.500, 600 have been liquidat-
ed, the balance being held to be exam
ined and counted. 1t is to be presumed
that the redemption of the August series
is now nearly completed. The redemp-
tion at New York and Boston amount to
about $50, 000.0 900; which, added to the
redemption at other points, must cover
nearly the entire issue outstanding ut
the date of maturity.
OF the cotton business the Financial
Chronicle says: 'The receipts show a
small increase over last week, the total
at all ports reaching 67l5 bales, against
6l6l bales last week, 6S3S bales the pre-
vious week, and 1898 bales three weeks
SINCE making the aggregate receipts
since September l, this year 1871 800
bales against 1867 ,259 bales for the
same period in 1866. The exports
from all the ports for the week continue
very small, the total reaching only 2l1O
bales against 1902 bales last week, and
1889 bales the previous week. The enly
shipments were from New York and
New Orleans. For the corresponding
week in 1866 the shipments of cetton
from all the ports amounted to 9S95
bales. The total foreign exports from
the United Sta es since September l are
now 1,545,l bales against 1880, l99
bales for the same time last year, and
the stocks ut all the ports reach only
90 ,9lG bales, against 329, APO bales at the
same time in 1866"
In 1865 the imports into the Austria
liam colonies reached f35, 900, 900, and
the exports f30,000,0O0. Within the
last sixteen years New South Wales and
Victoria have yielded fl50,0OO,0GO
worth of gold, and New South Wales
has produced 100000 tons of coal.
South Australia has also, within the
last ten years, exported f5,OOO,nOO
worth of copper. The tonnage of YES
sells which arrived at Australian ports
in 1865 was 100000, and similar
amount of tonnage left those ports dur
ing the same period. Forty years ago
the number of horses, cattle and sheep
in Australia, was under 100000; the
number is now nearly 35,OOO,OO0.
The Commercial List entertains the
views of present and pros
pective matters in the Philadelphia
money market: That the money market
is beginning to be affected by the Cab
met and other political complications,
there can be no denial; ana that the
look on with distrust and
fear for the future is every day appar,
cnt from the fact that business Ian
guishes, aud there is no disposition to
enter upon any speculative or other
new enterprise Involving any large
amount of capital. Money son call"
with Government or other acceptable
can be had at 4ia54 per cent,
but mercantile paper is scrutinized more
closely than ever, and nothing but short
and undoubted obligations can be placed
on the street at 81 to per cent. There
is no Disgusting the fact that the aggre-
gate business falls largely below the
general expectation, which was mater
tally heightened by the highly favor
able crop reports early in the season.
The harvest is completed, and there is
no longer any reason to doubt that this
is to be season of plenty, so far as the
leading articles of prime necessity
are concerned-yet there is II certain
fear among the trading clas-
SEES which results in restric-
ton upon the free action of trade, thus
conclusively that there is
besides good crops necessary
to set the wheels of commerce in active
motion. Something of this apathy is
no doubt due to u deficient supply of
the leading agricultural staples during
the last year or two, but it is mainly
Ullt VI buc vi
our political and financial affairs grow
ing out of the late civil war. Much of
our recent legislation has been in con-
tact with all true economical science,
and one of the more serious resulting
calamities has been the closing of our
markets to some of onr best customers
in former times, by reason of the greatly
cost of home production. Both
our internal trade and foreign commerce
require increased production and great
cr freedom from restrictions ofone kind
or another, as n condition precedent to
a revival of healthfnl enterprise and
prosperous business, and until there
shall be thorough remodeling of our
whole fiscal system, it is greatly to be
feared that an abnormal condition of
trade and commerce must continue to
be conspicuous feature. That trade
will increase somewhat as the season
advances there is no reason to doubt,
but it is quite clear that the expecta-
tons of the more sanguine are not des-
tined to be realized.
Cincinnati Live stock Market
CINCINNATI, September 3.