, 1869-06-28
MONETARY AND COMMERCIAL


SA1CnpAr EVENING, Jupe e6
There has, perhaps, beth no period during the
,ast wear when The course OF the money market
has been watched with aS much Interest Us during
lhe lHst TWO 6etkA 1t 1las been recognized ~
lhcse ho have paia cloee aud continued atfet-
t,on 10 the subject that tue financial situation TINS
year was new one compared 10 nny Of the past
few years and TINT by tho great increase o! Eet'
ehan1.ble wealth II the county. uad on Account
ol the increased extent OF the Geld Of circulation
Currency Was he1Eg made relatively sc1Eces II al
1a1ts Of tho county, and that this, by iss tendency
10 reduce the currency prices OF commodities. was
gradually bringing everything TO specie
t,asls OF prices and prepare the way for bringing
gold Into circulation again In tie course Of
sear or two In addition to this, however, a new
Secretary Of the Treasury was trying m c1ptr1-
mental contraction OF the currency at the rstc OF
si1 and half millions per mou h, oo the theor!
that he waa expected to regulate the volume Of
The currency from month 10 mouth as ne Shonld
think the necessities Of the country required.
The nrst OF these was generally recognized A the
primary and great Underlying Cause, Ehch was,
and Is get, expected TO produce an unusEA sss1n-
rcncy nexl fall but which for the present. as only
made operative, and it, effects aggravated. BY the
Se.retarJ li-adyised contraction OF the currency.
Tits was the situation Of affairs At the beginning
OF the present week. bot In which Ercat change
has been effected etnct then. Af. BoatWeN has
been obliged By the strong expression OF popa1H
crlniou 10 abandon any further prosecution OF his
plan Of selling gold and buytng bonds, and couse-
queutly, ior the present. also, nls.sheog OF regu-
laY1pg the volume OF the currency. The aosoEE-
ton Of currency by the Treasury viii, therefore,
have ceased with the present week Bcsides this
there has been complete turn In the exchanges
during the week. On Monday and previous TO
that for several weeks, exchange was selling at
SOC to 90 per 81, 900 discount but the currency
which had been SO literally tent to the country las
been coming back and the grain movement has
decreased 10 that exchange has been 1t a preml
utu during The last hail OF the week. These c!t.
cuna,apces together Indicate that an eccunula-
ton OF money IN the cities, and an abundant
money market generals, may reasonably he cI-
pec1co during JAY
Sales OF exchange were made between banIs TO-
dsy ST par In the early par1 CT The day, and ut 7
rer q 200 premium st the close, though there Wa
but little doing, Is the usual sellers were ont OF
the U2Rrkes. II the counte, bankers were selling
at l.lo premium, and taxing at par fot SeF 1osS
ruads, and 4 Oh o. Buffalo
Quotations for government bonds nave 1eHaln-
ed nearly the SANE fo7 the list month notWHh-
standing the accEuln4 interest The quotation IN
London to-day vas sott Against so;s week ago.
md soy On the nrst OF May, which, With the H.
te1cs.-,s IN reality decline IN the Las: INC
months
Dealers quotations for bu.tng aod selling eoy'
c,urneD. bepts local stocks. gold n1d dlveE, IN
,ha ns,tet this Afternoon we're a follows: