, 1869-09-01
MONETARY AND COMMERCIAL.



IT. lHhis ha4 ut lGbktA KtuHn t!rslxFgto ia the
grain Guchtloii; at II Thu Ai4svn.t e1,urrut NAV
lG accepted Al the exponent Ut The policy Of tha
uHh Asrtsiat!nn, shr ktncAhnI,rs t'.tp mt csre
p!a wlctsGF they tnaio u iii !irnt ur int. II
What theJ want Ia that The Kratu snay cuIns IT, Vt
LOUIS Gil III "ay 10 chicaao, ~ that t!,ry may Ut
'edAt lave inc fehtIAnce of doing = grain bus,.
hesA- 70 acf"!lI''tAh ths. the directors Of the
tran AkHuc.ntlon aEe urkeh so-what .lo you
thini, o lnemtcrs Ut tic Ch!cogo Hoard Of Trpic
nIld fEAtncrs of Kulc IS. WhJ, nothing more nor
les4 ihan 70 get ur = "cosacr" IN wheat. I, Ia
pla1slbiY Set forth ly the nAc1.s tha. tho taktrs
Of tue "corncI' could get out bY shIpp.ur
thcl putchasea, With a loss Of &c per fbuahe A,
this would not bc profitable unlcss the association
a large business II Ia proposed 10 70 on getting
ur "co!ners." and IL keep ou shipping q, at avc.-
aRe loss OF kaJ &c per hulhel q. which rate II Il
ektnaltd that tho sioo.e9o ot cash belonging to
the Grain Association wopI last oue year, ut
which tmc l. Is propoac! to ra!sc another Si00,-
f'5o aiid 80 on "cornctlDg" fnt another rear.
But" says tho It7a"eras, wheat alone viii not
make m grain market. We must buy md ahp
corn oais, r. and harley" and tho same po!lc1
In rcga1l TO profit Ind loss Is recommended
IN these grains ns that recommended to
be pursued in connection with wheat.
Truly, thB Is: hrayc programme.
nnd truly ST. Louis is great On programmes:
Should this oEe bc attempted, the St. Louig Gra.n
Association Ia likely to have tts hands full and 1ts
pocket1 empty, Instead OF, al now, having TIA
pockets fu1l-to the time 0! fl0n o0o-and ts hand.
tdlt.
A rendietontan Democratic paper In this city
nastefs Itself is fooK6 that re1udiatloa Ia gain.
ting grnuad:
Ne hear less 0! srepudtatlon than We lid n
rev montlS ago. ami nsen Of moral Ideas pte
nor ~ swift NON rs they were In The Presidential
campaign Of last 5car 10 denounce the p0licy ar
n1S4U1 Tic ESE.fErHfy fnn39 narfr rrt..a
q 'Eattonu1 ytla.n{.''' .
Ferhaps the most conclusive explanation OF
why ieEs Is heard Of repud!atlor, Il that It's ds.
honcef5 Is 70 palrabIc that there are o1ty few
JOURNALS that have tho lIardhood to ADVOCATE IT,
and also because the prospect OF Iia eycf asa,u
te!ng living Issue, Al last fail, n not nrobahe
The following. froln tie tc# York Journal or
Commerce, the mentor Of tue Democratic press,
SHOWS That 1t has as last got ont o! patience with
being argued into supporting subtertuge OF !ts
party Which, no matter how speciorsl5 It Is ~
sucf, is nothing less than repualasfon ate, ali:
" II u IN SAln for correspondents 10 semi u any
inofe arguments IN favor Of paying, tic govern
ment dtbt IN grecal'scks, ns they ail ~ nto the
Waste tastct Aud the Itasou s nut Qake notice
g, nvefdant al coansFyasu Justice who sent I'd the
latest Oh this theMe3 that We are simply opposed
the creditor an1s. being stubborn will not be con
e. s'vlpg Promise on 'einand tor promise con On
time y nnt ratlnE the debt Mt ali: al It would
teein that tis e.ap'des: head thai steF ,ses1 to
might understand this aud not cali
the de bs ssn Is0s2E 9s 'qna
hse:tweDty lonis. are only govusumen, promise
made current for 'leht ts III arbitrary act Of Con-
Gless. ~ ot1tr them q, 1as for Ill tntcrcst-bca.-
!nR SECURITY, ana compel the exchange, wOuHi lie
the SAME thing as tu siop the rsrrcs, Of the tonus
and aloH the holders to paE them as currency. II
ll Gt aInS t ihs nn = Is 81" IT, t%ly ;ane.s
PIE Act or CDnGrenf, i patt Ia nJ,y lin, ,,r1,t r,u