The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1868-11-19
A Stringent Market.

These are the highest times since
1857. The stock SPECTATORS in New York
began the mischief byt locking up large
amount of greepbacks, aud they are
reinforced by spectators in breadstuffs.
who seek to control an immense quantity
of the same, and if possible the entire
market. The stringency is 50 great that
the banks themselves have hoally become
invelvediu it. Ithas made itself seriously
felt In the channels of trade, with the
indefinite threats OF creating positive
confusion. The best four months paper
in Bost on had to saa hit on Thursday to
an eight and nines per cent discount.
Government collater prove less efficient
than usual, too, by reason Of the depression
of that class of stocks; so that merchants
find themselves unexpectedly called on to
refund leans at the very time when their
collaterals' resources are shrinking.
There is more or less loose talk about
failures at such time, but it will be well
to pay as little heed to such rumors as
possible.
New York banks have been compelled
to settle their daily balances with the
Three per cent. certificates, which are
stamped by the Sub treasurer; and we
learn that up to twenty millions worth of
such certificates have already been put to
use. But to whatever extent this may
relieve the mutual business of the banks,
it promises 10 benefit to the money market.
The Western banksore already pushed to
the limit of their ability to provide
accommodations for their customers, and
it is the same with the bankers and
capitalists of that section The struggle
there Is, to hold the grain crop for rise /;
but the calculations appear to be so very
Wild in the face of what We know OF the
crops abroad and at home, that sudden
breakdown among the spectators is
naturally to be expected. To add to the
grcenback stringency IN New York, it is
said that parties have borrowed largely of
Governments for thirty days at five per
cent, depositing sealed packages of
greenbacks as colaterals; the result of
which is still lower depression of
Governments as we'll as tightness of
greenbacks. Such parties of course hold
their bonds tor rise.
4 fall Of from one to two per cent. in
Government securities is heavy one for
single day. What business men bad
always thought sound and available
collateral is thus made insecure as an
instrument of ready service. What may
happen to the spectators in stocks and
breadstuffs from this strain upon the
banks, no one seriously cares; but when
their operations begin to unsettle and
confuse regular business matters
compelling merchants and others to submit
to sacrifices and losses for which no
legitimate excuse can be offered, public
indignation will find the shortest way to
express itself. A combination of men are
able to derange the whole machinery of
business in pursuing their plans for beating
down certain stocks and securities in the
market and forestalling the wants of the
people of the country. Common sense
revolts at such practice, and the general
safety demands some change IN the
machinery of accommodations. The
banking system is theoretically established
to aid business, not to depress and ruin it;
and if it can be laid hold Of by strong
parties and bent to their selfish service,
sending distrust and perhaps disaster,
into all the channels Of trade, way will
certainly have to be devised to prevent
a mischief which is fast threatening to
overshadow steady hopes of service from
the SYSTEM Boston Post.
ANOTHER MYSTERIOUS AFFAIR.-A
BODY SHOWING MARKS OF VIOLENCE