The New York herald., 1869-09-13
statements are as follows:-

Deposits. .............. 1sl, I0l 0S6 lss s23, ,324
Legal tenders. 55,S29, 7s2 5l,4s7,s07
The changes are:-
Increase in loans. SO, 314 694
Decrease In specie 2,519 $50
Increase in circulation. On..................... 4l6l
Decrease in deposits Observation-Disclosures. 227T T62
Decrease In legal tenders. 4,34lel5
Net reserve, Sept. 7,025 224
Net reserve, Sept. TO- 733 303
At the corresponding time last year the net
was nearly twenty millions, and yet the money mar
ket In the succeeding November stringent
that the most exavagan rates OF interest were had
on call loans. IT, therefore, start out this year
with this reserve of the banks reduced to only ten
minions-or half the sum-in what condition shall
we find the money market month two hencei
The "bull" ciques IN wall street may be discon-
Certed by this state OF affairs, but the events
OF the past year have shown that the
values OF stocks have become so purely
artificial under the influences OF clique manipulation
that they refuse to obey the natural laws which
should operate in such circumstances The state OF
the money market has been long since eliminated
from the calculations OF the bOlder and weather.
operators. We had signal proof OF tnis last spring
when prices advanced throughout very stringent
money market. The present condition Of our local
finances Is therefore no criterion for the course
which stocks will take in the immediate future.
They may go down or they may go up. II is just
clques, however for the sudden change in the POSI-
tiOn OF the banks be attributable only 10 their
interference. 1t is known that a combination has
been formed TO lock up greenbacks and make money
tight In order that the small operators who came
into the stock market in swarms last spring and
summer may be forced to let go their stocks The
professional operators and cliques have been short'
since they unloaded to the public in the begin
ming OF the summer A few of the cliques on the
bull side for the lines never distinctly drawn
IL is the effort which the bearsr making TO de-
press stocks that disarranges the condition OF the
banks. In war OF cliques the money market would
not influence prices. Then the respective combaants
would employ the strategy Of overssuing stock, or
putting down 'rhrd rails" or some other plan
nmica to the real value OF the STOCK at Issue. But
now the cliques are arrayed against the public, and
the latter are very sensitive TO tight money. The
''interest account" then becomes very important
consideration and its daily increasing proportions
frghten the more timid and "preak,"
which decline leads others to throw their stocks
overheard, and so the 'bearsn succeed. We're the
mischief which is thus done confined to the gam
blers no outside OF their own numbers
would complain. But such speculation absorbs the
capital OF the banks, and the merchant VINO
comes to look for accommodation on his note
at three to months is sighted for the stock
broker who can give abundant collateral and pay
shaves and commissions II we inspect the above
statement carefully we shall find that the small de-
crease in deposits is due to the withdrawal Of green
backs and the substitution for them OF national cur
rency. Except In the Item Of specie believe the
banks are no poorer than they were week ago
but the stock bears have contrived to pick out
greenbacks and by retaining the startle the street
with extraordinary loss In They do this
at time when, owing to the programme OF
the Treasury, only two millions Of bonds
against the sale Of q million Of gold, making the
total disbursement the ensuing week only million
OF dollars. Mr.. Boutwell, again has an opportunity
Of defeating this conspiracy If he feels disposed.
The gold market during the week was alternately
weak and strong, the speculation on the whole be-
ing falling one, owing, IL is conjectured, 70 hitch
IN the plans OF the gold clique by which one party
thereof could not resist the temptation to unload
and 'rake proats.n The balance decided to main
tain and renew the movement, which was partially
successful but required great perseverance, as the
complications In French monetary AFFAIRS on which
the movement had toen originally based suddenly
vanished with tue restoration OF Napoeon's health
The course Of the market during the week is shown
IN the tablet
Highest Lo,cest
Monday. ay..................... ....... 1914 1361z
TUESDAY y.........-...... ...........s l3t loof
wednesday. .....''..........'...'' loo I5f5s