The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-08-14
THE NEW YORK MONEY MARKET.

The following extracts show the state of the New York
mt ney market yesterday:
From the ". J.. Herdld
The money market continues work freely at six and
seven per cent, and distinguished to-day by large
per cent continues to be the ruling rate with the banks
rather excess of the demand Shipments the South
west continue moderate scae but with returns from
bursements promised on bond purchases, but little
ali d9Hns 69 any GFe4btsF b6oDcs str
this month What the future condition Of the money
his operations as announced IS exciting considerable at
anxiety felt to learn his intentions proposed dealings
for September NIB and the succeeding months Il is very
OF business men are SO directly interested and where the
Government that the extreme reticence OF Mr. boutwell,
in regard to his policy is uneaed for and unfair to the
regard the public as one party and the Government as
be, the agent Governments charged with the
duty of guarding its financial policy in secrecy and en-
by the rival public This is certainly mistake The
relating to the financial condition Of the country Their
interests identical and should be dealt with in har
Changes in financial administration they may hold der
en views but in regard to the simple working of the e.
partment the balancing and adjusting of monetary dis
urbances when the Treasury commits itself to inter
ference with the course Of exchanges the Government
and the business of the country have but the same
experience and rpes Judgment OF our merchants and
ton, to aid it in the solution of whatever financial pro
knowledge they OF value in such connection freely
at its disposal this childish effort mysicaton the
part Secretary Boutwell,, which good pur
pose, and dstracs of enterprise introducing an
additional element et uncertainty into their calcula
prepare for only outside the spirit of institu
tons but both and unjust perpleKing most
those who entitled to the opposite conslde
ration II is charged that Mr.. Boutwell, intends
be thus offensive, and with the indulgence that
other of his have been received it is readily
any previous training in financial matters OF
practical nature it felt that he quite possibly does
not comprehend the perpeXty that may arise from
want OF knowledge in regard to his future action and
allows himself the opportunity OF changing his MIND
gardng that action II IT has even been made up by not
duh but with the opening OF the fall and the in
ception of the grain and cotton movements producing
changes in the monetary situation something more
is wanted than disposition the part of the Secretary
occasion may his Judgment require, assu-
that he will be guided by circumstances AID operate
prejudice any class Individual Preparations
now to be made to meet the possible chances of the
market during the ming fall and winter and IL
is important to know what Mr. Boutwell, intends doing
during that period Has he made up his mind, and will
he speak itl Commercial paper continues dull and only
Gold opened with firm feeling this orning the de
cline OF yesterday inducing large purchases by importers
been waiting opportunity TO buy
advanced to -. From this point there a steady de-
cline speculative sales to l3lia, which figure
reached at shortly after two o'clock. From this point
reacted, and purchases to advanced TO l3i,
made at l3, l3 and 1885, the market leaving Oft
the last figure. In the loan market cash gold inter
walls in demand the rates ranging from to cent for
carrying to fiat for borrowing"