, 1869-05-05

hS,G III
From Lie afsse It III le seen illat The :,..uuns
III thu nwscrsh,p of The gnycrrn1cnt after all r1y
Ica:s 70 he made tnr the May interest are de- |
tirctcd, lcayes larger amount thln At lnv pre-
pcrol EhCl! ,t1ie II The interest !i!,s,he:lts
1:1l ,s: teen paid tn eli other occlsi22s Hhca I
the so9cturuent oyyIrd ~ much. II WIS III consc-
t;ssence Of there .lnr hcen no large recent pay
tIcn: .: iutc7.st- 1lc cun interest the ral.c
.ls is about s1e.st, ,,rn Ter month uni when that
is deferred 9o. tfEc months II makes IA ariroxi-
u4aston to feo ts,a Of increase in tie amount Of
gold le!d lly the Treasury, the only intermediate
ray tileata being the smaller ones o interest on
PORTION Of the 1usns which IL payable Oil stle 1tM
liars ef March and September.
Notwithstanding iAc favorable appearance Of
The CoIu lnlanrc in Tic Treasury, Us com
E1icl lth the exhibits Of the preIlos:, maata'.
the POLICY Of selling gola merely because the
uno;:n. in the TrcnsErs Is Increasing temEot11t!y
certainly does nu1 seern warranted unless the pro-
ceels Of the Ea!c &re to ht applied to some specific
pnrJ4se. like The exttuguishntent Of the Interest
bearing iel,t- That nnrpEtatlons ol foreign yots!.
layt 1ecn stimulated hs the immense shipments Of
rrof. il aI}lafent 10 every one anl 1as tae supply
t,f 1e1ts Tor export In any considerable quantity
can. At br4t, last bul i sear or tw0. 1t nls: ec
-sra..r apparent that the supply OF goal coming
into the Treasury will he greatly ''tnl'n.
shed s:urnpe now holds pearly si,"oa.th
Io.,in4l dcbt-on which VIC arc pledged to p7E
fasa ~ Of gold interest. about - per cent OF
the y hole product Of our mines. Tic gold ln the
Trras''ry tn. now that rcludiatton has l'ecu es-
rcctnaily gtashct, the most potent 1naHeace III
managing the public debt, and in sustaining the
1nltc credit 1t vas one OF Ns. McCulloeh : mis-
takes TO sell gold hrrercr he had II IL sell With
av.cw Of keeping the price Of gold aEtieclally de-
;,,esst.1; !Gt prudence would lctste that ID HteT
t,( ;..e possibility of decrease 0: the gail rcEc-
n,;c ami ot the Rcarrltt that may he mad" here
when thr forr.gn hnllera OF cournns demand Goal
Io- them instead OF rtlascetin: them IN
lon,t. as has bceu tho practice
tlt tic pas. tTo years. sna'
no sales Of cokl thn.lll bc made by the Treasury
exeep: when the currency balance is too low se
meet the current expenditures Of the government
q. else sid ouly f1y lie specific pGf7ose Of ex
i;nou,s,;,,,x q poStian Of the Interest tear:Ht
trIt- ...
IN the local money market there seems 10 he :
flight increase In thr demand Tor none. fsnE
ncarls al departments OF trade. 7hese Il l!ttl
more activity In the R1alD markets, AMI an urWa ar
seudeacy in pr'ees thai induces soulc 10 make 81
Engagements Mt the backs for loans to use III sIeeu
1attyc operations. The wholesale merchant
a.-a are tnrruw,ne little more. I'll
very light movement uf produce II 'he countr
,l;irp- the last three or four weeks has alloWe
tho c,yency to concentrate ID The cities, and ie,
tie country ron,ar4.!sely s.are, aud tho fara,el
without rva1. csl, 10 pay .lcl:s. Thc result Is thu
;he rnetrnants are borrowing little more frcr!
titae i.auAs. The accumulation Of futhls her
hnsycrcy. Is still much IN excess Of the demant
4,ti banker, are not on!y lending very freely to
ap,!o,el customers bu! The E,ost OF thcni are tai
us al tic dcs,rahle ortsn1e PAPER that is Offered
Yer, :ll.e rufrcncx i leing sent Into the cd7lf
1;s. ct: i .ac CHIEF movement !n aar direction
~t.s .hc, anAs arc sending 10 New iosk 10 max
+x,"2..se.
E..'".eze ccn.inucs firm 81 II per sl.hn pr
r. T. 'i'r sa','s ,t.*sen lacks. At tho cornte
!4:.e:s a.r %t'!i:c New iosS ful'l$ TO cns:omel
=: - 1stinl4n and taking Straight sight bills
i@r 1::tf grain 1i1ls at t-!n Oft.
isr 1"n1on qGpta!:ea Gu lon'is today ":
-; .saualnS lrc;lne Of &c since vcstcr,!l
whi.'i tI:s as" tern the experience OF each Of II
ic-l Ave ol TX la.N ~ that bon,ls have .ec|tne
II .lc i.o'i"& 1E2rAr' i:tslc Oh s21 u.e r~r cenr
tsle .Gs: two weeks In Sew YHrk howerc.. II
e;,rcrcr ctctattons tor t,.s.s show M isc,ue O
sccct:t ni :hr advance In su.,l
IEa.urs' Guotauous !oy ha.iac AL sclAnr ~
e-.u.rn: ts7n.ft, local stocks. Ea!h MI. silver.
this r1aI tet this lftGtuooE, Wefu as ioaY-.