The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-03-23

"The feeling on the street at the beginning of
business this morning was an uneasy one,
operators and brokers being more than usually
disposed to consult the signs of the future. The
condition OF the banks TO meet the crisis in
money which is expected with the advent Of
the 3lst instant CONT nued the subject Of mucn
speculation. and the feeling was not much
altered by the bank statement of sstur-
day that the bears, were less sanguine
or rather the independent operators,
who fight on either side of the line. as
day" would come and go without any great
stringency. In considering the influences likely
to affect the money market for the next two
weeks itshould not be forgotten that many en-
gagements have been made for periods bridging
over the expected time Of activity. The bank
tenders to the extent OF over 81, 900 0OO-a condi
tion altogether unlocked for with the
backs It will be remembered that the
Sub b. Treasury M received during the week about
depositaries. 1t is suggested that The
banks have exchanged national notes for
legal tenders with Mr.. Van Dyck, to whom'the
former are Just as useful In the daily disburse-
ments of his office; hence the strong position
which they have been enabled TO assume In the
exhibit. In connection with the question of
the money market, 1t is known that General
Grant and Secretary Boutwell, are determined
to stand between the mercantile portion OF the
lyZe trade and extort excessive rates OF interest
In the previous regime the President was
the tool Of the revenue swindlers. while his
financial Secretary was openly charged with
personal interest in numerous speculations In
@ changed I ali % tSat The Ind individuai Integrity @ Of
President Grant is the guarantee that
neither he nor his Treasury officer will use
the expense Of the business men of the coun-
try. Secretary Boutwell, is earnestly thinking
national good faith and the popular idea OF a
lower premium on gold. There is balance of
Vsas %cS ike to apply n part
the redemption of some OF our bonds But q
dilemma meets him at the outset. The
bonds could be purchased more cheapiy with
currency than with gold, perhaps as much
as one per cent But the sale OF the gold
would Withdraw currency enough to produce a
disastrous to many Of our merchants The de-
sire of Mr.. Boutwell, is q very commendable
one, but he should not hasten to crafty It
before the influx or currency which sets into
the city after the first week in April Mean
another Of bis plans. the anticipation OF the
payment OF the Government coupons-a step
which would doubtless tend to realize the
Governments opened weak, through an ap'
prehension of active money and q lack OF sup
port from foreign houses. the reported decline
OF one eighth In five twenties at London this
morning not being calculated 10 induce further
Investment The market remained steady and
dull. 62's sold at 1857 at the first board. but
were only ll82s bid at the second board the
o'clock telegram from London announcing a
at the last board for the 62s, but 'o for the old
65's and 67's. subsequently street quotations
lulpTOVous IN response 10 u IcCONSly UOtn al
London and Frankfort"
From the Tribune.
"Gold opened at 1917 sold at 1879, l3l clos
ing l3l@lSlA. Cash gold has been in good
supply, loaning at from l@7 per cent. with the
| average transactions at 4@5 per cent. The
clearings at the Gold Exchange Bank were
S73, ,e54 COO, and the balance 81 S60.0 IS. The
| imports OF specie for the week were $l75 800
previously reported, 81, 1856 367; total since Jan
usry l. 1859 $S1 sS4la aaos as7 time 1865 lsSSS
Government bonds opened dull and firm q
| 1s@4 per cent. lower; there was some pressur'
| To sell for cash at the opening, but after thu
| Board there was q steadier feeling, and prices
| were stronger. The foreign demand Is checked
| from the inability of partles who have bough
| bonds, to sell their exchange at satisfactor,
| rates. The market was dull and steady through
| out the day, and at the close was hrm at an ad
| vance of "a per cent. in prices.
Money has been In good demand at 2 pc
| cent. in currency, but there has been less dc
| mand from brokers, and the market has beel
less stringent than at the close OF last week
| Al the close balances were offered at pc
|