The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-08-07
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FINANCE AND TRADE.


GU issaed ZIP to Saturday was S5oa,5o
AZ. The follosing National bank 90,
curities are held By the United states
Treasurer For Giro rlating notes, s34o,
GAO 500: for deposits of pnblie monies
s3s 7s9, 6aO-total, s379,44z, $50.
The National bBaalRk sdRaf the sRFistScSS Conf
nonnd interest notes. The Treasury
lives in redemption Of the notes an iul'
SSortant nroportion of bank currency
the effect. Of which is to reduce the iega
fender reserves of the banks. BY hold
inc the notes the. banks appear to lose
the nse of the interest (amounting to
about 90 per cent of the principally but
only apparently, as they consider tint
claim for interest as representing SC
much legal tender, and consequently
count the interest as so much reserve
and their legal tender reserve being SC
far increased, they are at liberty te
lend more freely. = - 25r . 20
The following is the amount OF avail
able funds in the TreasHry OF the Uni
ted States: Currency SCI, 526, 616i gold
slO2. 9O5, IVA, of which S19, l57 $3.50 are IN
gold certificates. The debt statement
will be issued this week. II will show
no contraction of the currency, while
the gold reserve will be large. The
Treasury has authorized sales OF gold
only TO Il moderate extent. Receipts
from internal revenue exhibit an in
crease. Il has been decided TO allow
the government deposits 10 remain II
the National banks subject To such new
rs may be agreed upon W
the Secretary. New Jersey presents an
exhibit of Indebtedness well worthy the
and the imitation of many
larger Commonwealth. The total deb'
at the close OF the fiscal year ending
November 30, 1s6G, was $685. goo, ma,
turing between LIST January, 1867, to Isl
January, 1902, in small instruments
Taking the population i'll 1865, which
WAS 773. 700, as Il standard, the distrlbu-
tive share to each inhabitant is about
S4.39 per capita. During the war the
several counties of the State incurred
an Indebtedness amounting 10 S23.4i7.
9ss IL for bornties and other purposes
which is 1910 per head, or Sl73.5O IoI
each family. The total valuation OF
the State is S467 ,9le.&4. The State
debt in relation to this valuation is as
72c, to every 800, and the local debt as
SOL, or together 1913 to every sloe.
The .ig' say:
This is season of the year whell
there is no disposition felt to enter upon
any new business. Breadstutfs have de-
clinetl, with tendency to still lower
prices, which checks any movement III
the provision market. In dry goods
there are Indications of more cheerful
feeling, and the indications of an
abundant incoming harvest prcsage a
good trade in that line on a fair basis
We shall have 10 struggle under the de.
pressing weight OF heavy taxation and
u deprecated currency, but the pros
pect is more hopeful and we may conf
dentially anticipate an early renewal oi
activity.
The street business L.: Government
and State securities is very moderate III
amount. and the principal business
is among large dealers
Holders for investments are little if n
all influenced by the slight daily liuctna'
tiOn in prices.
We have reached that season of the
year, says the Philadelphia Ledger, when
there is little disposition to enter into
new business. The markets all around
are inactive-uothing Of speculative
character is manifest in any department
Prices of breadstuiis have declined rap
idly, and the tendency is still to lower
rates: provisions Of most descriptions
are dull. The dry goods trade is quiet,
although the indications OF IN anund-
ant incoming harvest have had Il favor
able influence, and there Is more hope
fulness rs to the future of this branch
pf business than for months past. The
general depression in all trade which
during the past six months, finds Is
counterpart, and i'll measure, Its
cause, III the total prostration
OF trade which has existed in
England. Especially has our staple,
cotton, suffered by reason of the limited
business at Manchester, and ii is, there
fore, with great interest that we watch
any sign Of returning confidence in that
quarter. With revival Of trade in
England and on the Continent u new
impulse will be given to at least one iin-
portant branch of our industries, and by
sympathy infuse itself in measure into
all Others. IL is now more than II year
since the well-remembered London
panic. the influence of which is still eX-
erting itself. and only within very
few weeks has any marked recovery
taken place. The latest accounts, how
ever, show very favorable change.
returns from all parts of the
United Kingdom respecting the grow
ing crops, together with encouraging
colonial advices, and great monetary
ease, have served to produce Il
most favorable impression. During
the past year England has ship
ped light, of manufactures to the col
onies, while now the prospects are very
favorable for good trade, and we see
the result of this and of the rcviving
demand in the renewed ac-
tivity and tirmness of the Liverpool
cotton market. So, too, the reduction
by the Bank of England of the rate OF
interest to two per cent. has tended
materially to improve the tone of bust,
ness All these causes operating in the
same direction are producing their nat,
nral result in England, and must exert
a good Influence upon trade here. These
evidences point to the conclusion that
on the present basis of values we may
anticipate an early renewal of activity
among ourselves. Heavy, and in many
eases unwise, taxation, together with a
currency, must, however,
have certain depressing influence; but
in the abundant harvest we have the
way of escape from many enthroned
evils.
Iron Markets.