, 1869-06-17
MONETARY AND COMMERCIAL.
MONETARY.

|
MONETARY. {
TKpxxspAr EVENING, June ID
= ose who v1tch the tendency Of finances ]
throughout the country, ere fast coming to lne !
that the present tendency Of nfArs To-
dcates 4 change 70 pew Htuathon- PnF aeFesA ]
yeatb past Jupe xud July have Natnesseo l
plethora OF money In al the principal cities, Aod
heretofore II hsa been the rule that noneJ could
be had In Stw York during those months at nom !
. 10 per cent per &nnr1, and, therefore, even
moderate degree Of ughtness In money now wonid {
anow that something unnsual was TAKING plAee
but when the rate for money runs up to = Of one
per cent per day. ct q per cent per annnn a. II
hss Ia Nuw York for tho pass few DAY., IT n1t-
usaily suggests the query tnas DoneJ can be
made to command u PEI cent pei annom, even
for few daIs II 4 time, IN June
aud July, wnAs will Ii command IN
and the cotton OF this yearr crops
arc 10 be mnteted within 4 few months In
Al the va4. area of country, from Georgia and
Te1Ha to kanaks xnd Atnnesonf Tne ope1acons
Of the secretary Of the Treasury In selling gold
have Increased his currency balance now to near
" III, ,0oo, ,ooo, aud this large Withdrawal Of cur
rrncy from circulation, soGethcS With she scsnal
uecrtase ot s, ,4e oo In the whole volume Of cur
rencJ elnce March l, arc probably tho tAuea&ae
Cause Of the present uuusual stHnxenrJ, but not
The oply nor even tho principal cause for the cur
1rncy balance OF the Treasury has been nearly =
hrge before within Jenr past Al 1t L. nov, and
was Sae Aop 900 On tho nrss Of lsst August without
any seE1ous disturbance In the money rnartes re-
sulun9 from It. But the business md wealth OF |
the country have experienced tho most Important
cnhngex sinee lAz1 August that hara eycr BEEN
Known In their hiBtorJ. Al kinds OF crops
were unusually large Last year. md |
though hreAnstn1s Gid not bring
~ average price the aggregate ya1ue Of the whole
produce OF the country AhoHed greaser Increase |
oyer forDe. 5ears thsn eveE before known. and
instead Ut tic currency being redundant. - It |
xss about two Jea1s ago, the business snd 1nsata
IN other comm odtties hAyo grown up to the vol- |
u.ne OF currency snd arc tast growing neJond II.
The prool Of thla L. ahosn N tbs instance OF the
soutbe1u Suites, Ia which there d steady dratn
OF both currency and guld even ,.css, IN the duh
season, when none Of the sonthern crops arc be-
ing moved, and 1t Is partly to this increasing do
tuand for gold u money, It tae south, - well ~
tor g.eenaacks that the scarcity OF gold IN the Sew
rork market and the extreme hInnex4 OF Its price
a1e attributable. nMp,atn thas she operation of
thvse eanses Is bringing n To i specie haSs Of
pl1rea t4tt al,out 81 fast a the business Of the
connil7 can Atand 1t without forcing nslf the huh
ne.s community Into hankrppscy- II We anould
have Is l.sxe CROPS tits Je- Il Last, the great
amount Of vuiue TO he m7rxeted would. ohtEa the
use OF xold Il currency in other sections OF the
country the same ~ Il u now used tn California
| and TexasL 1he Secretary ot tna Treasury has no
1 paxer TO arrest THU progress toward specie
hs-is Of pI1cts but be has power To sgg11vaSs the
| evils unayotdnbly attendant upon II, and fhls IL
/ Just hat he A doing noy by hia system OF con-
tractou- The holding Of ~, ,ooo, 700 ot cur1rncJ
! In tne Treasury fo7il not hare produced any
sereus eEee.s last yeas, bat now c,catea ststn.
9ency. There ART, Of course, several temporary
causes thai help 10 create tda eject tut at pre-
cpt The Cow OF currency t0 the Wet and North
wrst, sud possibly sons locking up" BY the besr
cl,gues IN toe New York Btock MARKET, both have
soeae eject, that may p4ae away within a fdw
weeks and allow monty 70 become temporarily
easy but the general course Of finances Is likely to
b. tn the direction aboTa indicated.
| In the local money market the demand for
money u very active and atehd1y Increasing All
Of the hanta report noney WORKING clooe, md
though they stl bare plenty to sopply Al Of theis
| regular castomert outslde pspar, even u 1t WA
n1st-c,ass, would scarcely be taken BY any u the
banks The prospect Of being called upon for q
statement ahou: this time also. mikes the Nation
ais hold back from leaning.
The orders from the county fof currency wert
large again to-day, aud u theJ continue to tn
craze hs they hxre yesterday and to-day, VII
ohli9e some Of the banks which had ceased order.
ting currency from New YORK to begin sgaln.
Exchange wns sold between banks 1t trom 6oc Il
= kIVV pfEtl,uV VII D4Ats 8uuar VI AAo OAAAS 0alAl
Obliged to submit to heavy discounts On e1chauEl
10 get currcy: but the ruling rate was about soc
At the counter, bAnkers continue TO sell AZ LII
premium for New York funds and to buy gtT4l9h
} / bills on New York At 1-18 to u Oh, and ol
| Bunalo !. oh
0 There WAS another large brtak tu stneks Iu New
, Yorf, to-d&y, owing to the extreme 1tringency o
mouey. Governments also participated TO susn
0 extent though bonds arc quoted higher IN Iondol
tu.tay hptnv yrsfknlnF.
- The following significant Item, from the Net
York 7Emes Of the 18th, snowa that New York
really uueaU about tho tendency Of the trade Q
n I the Fart with the Negt.
TIC number OF nour njnsrs rapidly on the IN
- erase IN Michigan. Illinois and other Wester
y States, and oi this produce Of wheat, the dlrec
supply oil the New EngtAnd SsAses By rsil, throug
LIT az ane.n = nc f.ss freight loef wnOq
y growing business: 90 much 30 that some Of on
lesd'nk grain and neur factors a5e concerned aeo9
- u,tnR market for the Eastern statea. -
Gne Of Inc nrst results Of thh completion Of th
q | Pacific Railway was the diversion Of the goa
shipments from the ateau1ers 10 the railway. tn
" New York hankers now receive tho bulk OF thai
!, remittAnces b5 the latter ruute-
In Platte Newton California circular OF ian
. Is the following, which shows that San FraI
cisco Is also Uneasy At the progrcss and eute
!" prise Of Chicago:
10 "The cessation Of field nom the Gold Inl minc
eaEsso y nss, has 1ea4et1 o,r sppply q s'1Ee
*lnt utar to note the apathy felt for the White Pin
10 ftf.on IN CntornIa e. compared With the cucrS
"a caAo. il i SID thal quite sao.thrls Of tie ba
;on c1tscied from those mlDea Rpea directly I
tk.cagu. Wa!te Pine Is al,aitted the Richest siivt
NJ [ rerltH yet dlscorefedx And we cannot afppd
cnt.e ths iact which IL t.'o prominent for contr1
Il | uEttou- TAk diversion can only be tenpot11
f0s The Grlclltal countries Az the SfrAt consume
VI kilyts and ths ln, 1otsD!e laws 81 coufesco d
nfnd ttat 1t shall Enl it, ~a5 there By the mo
10 | dl:eet rptte and 10 the shortest time Se,ia
tEie:.Eu EoF allthe Eas, combined can successful
o. ARTIST 1te sstf Stream ot any oontinuei per1od
The object of L "money article " Is tn keep It
sc-ue1s Of Journal thurouRhly tnior.nel, n
- s,npiy as to the present coudit!oA Of trade ar
IN | tEznceB from hica1 posut Of view, but also
give some hint Of all evenh and c1rcumstauo
That bavc a connection with finance IN hrosd
" srtse OF that Tord- We must confess, howeye
IN sllAt the ricH taken Of nnances by the Snw To-
Iout,sat tv CaAnerne " 60 broad that We are IN
10 HE to &c the connection though, poatblJ, ii
~, | journal naF see one in this CASE The falloWh
w ia reprint n1 it, "noncE article In It's Issue
% June Is, which, to Eay the least Is N original
Of discussing duanca and t,ade:
Rrsm The Honey l1tieif, .Sea 1oF1 Journal
-, | -....- Con- nzssres
w NokEr MARKr1. SATURDAY Evsn.ns, June t.,
Wits nsaeure hsna ss1s punits Is Ease snbson
ises!lon Tor tolut:ou In The statistical depastDe
Of tns rsFst:
TIC rruber indicated by pair Il twins"
snetance:-"Nrs sumner prrsented aef hus3a,
. win p1ir OF twins" csn ioa selys dc qaest!es
81 Yours, y.
81 The word fstA means one OF tKo JuunE pI
duced At htlzn, and the noun I. generally Is
IN the plural The simple wu1u t.ria4 Therefor
-. expressed the Whole sense Of . description OF
y! Two young thus produced Ii logical ex1ctue
Gs "a psir Of t1tns' might Be tAktn to nean Il
- / eets OF wins, Or four yonnx produced II pal.
*, t'ut nssSe has sanctioned TO eoHc extcnt, It
IN form o1 OPPRESSION - applied 70 tho one pa
=. & and - pa1 q q twlns" implies only The same
surposs tnai tais use, however 1llogtcal VII
close undetessmeut worn on lie low
~, limbs b1t the phrase IA pair Of tsawars = nsed
9a~ deseTbe the one garment, Is qul:e ~ coumon
"a pAir Of gloves" The expression roo are t
ctsueM~ly It's gra1umatcs! CONSTRUCTION, II II I
gins with pspnouu IN the plural fouoHrL bJ
verb ak1relas With II n the Eape nurnber, ouS1
~ one pc.so1: o-t uaaSe juktinea ua III etpploy1
= IS direct AdArc4s ~ our singular cor1espo.
u I ent-
The money market appeared to b. wo.k1a;
lttc c.x!cr To-day. The supply OF ccnrncJ v
little more 1ltxrtl-
q. Dealers quotations. Tor buying and selling q
~ esnnsent bonds, soca' atoess, gold and Silva,
ed l The aArAct tors afternoon, were a. Follows:
IN Rwvino. Sill
lo9 Z. S. G.. 1881 ....:...-.-..~.>.. -..la4 Is
I. s. Aats, lssa. iarEe............ INK II
o. {. g 5 2.s, 1854. III
ne L. IAN- tSG5.. II!
rs | {. S sh~, lsda. new is1uc......-.ll3t III
Dy l I. r. o-asi44 lSGt. III