, 1869-05-09
MONETARY AND COMMERCIAL.
MONETARY,

SATURDAY EVENING, May s
Money has been abundant during tho Eholc Of |
the past week, md some Of the banks have found
difficulty In using al Of ihclE funds to good ad-
vantage The conunst between now and few |
weeks ngo Is, perhzpa, ss great ~ IS ever Ett-
messed in the money market in that length OF
tine except wien there has been severe crisis.
The demand for money 6eens to lie increasing
ilttte at present, but not enough to keep ur With
the accumulation OF surplus funds At The b2nAsl
and Tic present prospect Is that money will con-
unEc moderately easy from now until the season
for the usual summer Plethora There Arc, how
ever, some circumstances which will be likely
to modify lhia tendency 10 81 great
an abundance Of money At that season
a. nsunl- be farmers n the Northwest hold
large share Of their grain crops yet and tho bulk
Of this MIL Earc tc be marketed before August
an the det su for currency to more 1t Is likely To
CRATE mara active m&aoy sss~Ft~s, aa4t, -s"-'>
n r. 1ctvc trade at tine when both arc uscally
stagIant- Even II tSls shoGfd not he shc case,
ttrrc cannot be 20 Largo an accumulation Of cur
rcLcy j. my Of the principal money centres during
tho ruIfncr months this year as has bccu usual Tor
t"o cr three 5c7rs past, because lasEc auount OF
tic currency which, In former Rea*ous, has con
ceat.a.ed IN few Northern cities, Is now ab-
sc:bed IN the country ind city circulation Of the
S1:hcrn S:a!ca- Heretofore, sncc the VII. those
S.atL1 hare bcGl soO poor to lie able
TO sc:a1n MT ch circulation except Just while their
ceof s we're being marketed, but It l. estimated
that. Git Of the f3o oeo, 90 Of sa''tc o! their
last year cotton, tobacco anu saGat crops, they
have retained <!c eco Of yal,e In one shape or
another. With SO large IN increase OF properly
larger clscu alton than In former seasons will lie
retained there and as the voluuc Of our cu1renc,
Il fixed, it will necessarily diminish the amount
tcat will concentrate IN tho Northern cities.
1t ran scarcely he said that there IL NM outside
market fer money uew. The banks arc taking al
the 0pcr that Is good, whether from their regular
ccstht1eIs Ct not
There h1s tecn no general concession IN the
ten per cent ra;a for reai estate ioans yet though
We hear Of sor,e instances where very desirable
securities nrc taken Al less
Some shIrn1cnts OF currency were being made
to various parts OF the wheat producing coun1f!
again to-day. and should they continue at m
equal rate 10. = fcw days, would be &n tndlcstion
| Of 4 revived movement In the marketing q! pro-
| drce.
Exchange was lower to-day, and sold ns &c 10
sc per & zoo premium between hsnkA There ta
| more exchange on the market than day or two
| ago, though 1t does not seem to he made By grain
shipments, there il very little more acsisfsy In
| thzt line. Al the counter, tankrrs continue to
| sell Sew Yo.k funds ut lilo premium, and to buy
nj rar for straight sight exchange; lilo discount
for gram bus
Government bouda recovered to day almost the
whole decline Of yesterday, md gold declined III
about The zane proportion. Hallway stocks hays
also rallied again from their sudden depression o.
ast evening, and the whole stock and bond 1nastc'
seems to h4ve recovered in great measure it
position Of day before Yesterday. The Lonao1
quotation for bonds opened st :s,. And BY after
| noon advanced to ~
Tic announcement that the Secretary OF th'
Trcasu1 I'LL devote the surplus gold Of rh'
T,cssuy to the purchase Of SO bonds in th'
qreu market from the lowest bidder, viii be re
ceiye} with s. isssctton BY every person who de
stres 10 eec the government credit sustained. III
rte1i adherence to this which Is only In CON
p.Ianee With the requirements OF the u,
: In the sns!n2l Fund act Of 1857, when
eyer the surplus Of gold IN the 1feasul
, WI sImtt, viii cstnbush far Nj. Boutwell, WIN
Mr. McCEt.och never had, viz: financial rolics
aud tnpar1 10 government tnAuccs stahths
which hns been unknown before xince We had
lsyge debt The sudden rcse1se To the prices Q
. | eoki and government bonds to-day from the Ut
favorable condition which thcJ had assume
: yesterday "a undoubtedly due to this announcs
| mtnt.
] Dealers quotstions for buytng an1 selling go'
= e.nment toudx, local stocks, gold and silver, |
:: this MARKET this afternoon, we're as follows: