The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-14

preceding ana the Otner succeeding tniS date, Dear
out this assumption
BANK STATEMENT FOR THE WEEK ENDING DECEMBER
Loans. .ss4 as ssscos4 Dec. .sss,4a5
sIrcaaton asS ssssss l Ree 'SI sS
Deposits .:........ l1as2assS Dec. !5g's7s
Iiabity in DEPOSITS ana circuation. 200 ois' S5s
Reserve In legal tenders and specie o. 400 704
Required reserve OF rs per centum. 81, $50
Excess In banks over legal reserve 16148,066
BANK STATEMENT FOR THE WEEK ENDING DEcEM-
Der Ia, 1867.
Loans Dec. 81 12o, $50
Circulation. .......... a4,1is'sii nc. 2s'7oS
Deposits. ;.......... 177,o44,2so Inc. 1885
Liabilities in deposits and circulation OIL 1888 161
Reserve in specie and legal tenders 69,s4l, 158
Required reserve OF rs per cent. 81, 100, 100
Excess In banks over legal reserve..... 17050,ss6
Both of these statements at the time were con-
sidered as most favorable. Compare with
STATEMENT FOR THE WEEK ENDING DECEMBER H.
1868.
Loans. s2ss seo144 Inc. SO, sos, 2ss
Specie. 1s,14A77S mo-. 1.4e6,5l4
Circulation. "a 2O5 9O8 Dec. 1883
eve tenders sss Dec sTs
Liabilities in deposits and circulation. 223 S2l
Reserve IN specie and legal tenders ... % l5esas
Excess In banks over legal reserve 17,270.s13
1t will thus be seen in comparison with the
week last year most nearly corresponding with
last week that the bank statement last presented
exhibits OF 1920 AT In the reserve in bank
over that held at the same period last year, there
being in both statements excess OF over
600 over the legal reserve. In tre other
the disparity Is even greater Last year these state
ments as above considered most favorable
and 1t is certainly rather illogical to apply such
very different term in the present case. "
1t is quite probable that have reached the high
est point OF expansion demanded by the crop move
ment, and may soon begin to look for return
OF some OF the currency that has lately been thus
drawn from our city banks. In the meantime this
extensive distribution OF money In small amounts all
over the country Will have the effect OF inducing
activity In other directions than those OF merely
speculative character, stimulating industrial enter
prise OF every kind and developing the re-
sources Of our various manufactures by Great
ing a demand for their numerous products.
The heavy item OF transportation which the
movement of the crops to market points viii
occasion In the business Of the country will add
much to the revenues OF the different railroads in
creasing largely the wealth OF the great trunk lines
and bringing much needed relief to others OF less
Importance and lately feeble resources. Thus will
the value OF their stock be enhanced, while other
shares in all schemes based upon the true principles
Of commercial polity designed to supply recognized
and legitimate wants Of the human family. and by
extending trade advance civilization, will reap their
should 1t be found that the demand for currency
West and South Is still unsatished and the drain
upon the city banks continues still there Is need
for any great degree OF sringency here The govern
ment has about So, 900 900 more currency in the
Sub Treasury than It has any present need for and
is prepared If called upon. to come to the relief OF
the banks to the extent OF some two or three mil
lions, by cashing the three per cent certificates
Raging when the pressure is removed, to reissue
them. In this view OF affairs therefore, there
exists no sufficient reason for monetary strngency,
and should any ensue 1t will be the result Of arti-
fetal agencies. Care should be taken to prevent any
combination Of such, producing result SO greatly
to be depored in Its disturbing influence upon the
whole trade OF the country.
During the whole OF last week the money market,
although active at seven per cent showed tight
ness, and exceptional loans at six were made even
in greater number at the close last night than pre-
viously, although before open to all good houses on
prime collaterals.
Gold during the week has been in the aggregate
steady, nuctuating within range OF only one per
cent as will be seen BY the following table OF quota