, 1869-05-10
MONETARY AND OMlERCIAL.
MONETARY,

S41CNDAY ESKS1EGt An! T.
None! has been abundant during the whole OF
the !'as: week, and some Of the banks have found
difficulty In nsng ali Of ihe,F funds to goo1 ah-
vantage. The contrast between now and a few
weeks ago Is, perhaps, is great rs Ia ever Ttt-
messed IN tho money market IN that length OF
tine. except when there has been BcFere crisis
The demand for money sce1ns to he increasing
little ut present, but not enough 10 keep up With
The accumulation Of surplus funds at the nanAa
M! the present prospect ts that money wilt con-
tnue moderately easy from now until the season
for the usual summer plethora There are, how
ever, so1ue circumstances which will be likely
10 modify this tendency to ~ great
IN abundance Of money nt that season
as usual The farmers n the Northwest hold
larrc slarr Of their grain crora Jet anu the bulk
OF ills will have to be marketed before August,
and the 1rEand for currency to Mose II Il likely to
create more active money market, and, also,
mprc Hctiyc trade At time when both arc usually
s,agnant. Even Il this should not be the case,
there cannot be 10 large IN accumulation OF cus-
reEcy ii my Of the principal money centres during
tfe summer muoths this year as has been usual for
tHr thtre years past, because large amount Of
lie currency which, In former seasons, has con-
centratet In few Northern cities, Is now ah-
s0il,e, in the country and city circulation Of the
Southern States. Heretofore, stnce the VIII, those
States hare been too poor to be able
" IEk1kH 11HCA G44I43&+4VA SACEPt lAAA "AuN ~ASA
crops wcrr being marketed, but It Is estimated
npw that out Of the $500 ooo 900 of value Of their
last yearh cotton, tobacco And fusaz crops. they
have rcnned sso, ,oooD 900 OF value IN one shape or
another. With 90 large IN increase Of property
!nrEer circulation than In former sea1ous viii be
retained their, and, the volume OF our cufEcnc.
- nxcd, It will necessarily diminish the amount
thst will concentrate N the Northern cities.
!, c1u scarcely he said that there Is any outside
market for money nov. The banks arc taxing all
the raper thst ts goot, whether from their regular
customers or not
Tpctc has bccu no general concession On the
Ten per cent rate for real estate loans yet though
/ we hear OF snme inktauccs where very desirable
securities are taken al lesa
| Some ahInments OF cunancy were belug ruade
| to various parts OF the Ehcat-proi"s ing country
again to-day, and, should they cont1n-- an
t1,ual rate for few DAYS would be an fndl' alton
| Of 4 revived movement IN tho marketing OF pro
| luce.
[ Exchange was lower to-day, and sold At sc &c
| SIC rer $1,oo0 premium between banks There
| more exchange on the market than day or fwe
| aso, though Il does not seem to be made by &rz1i
snipmenss a. there IL very little more activity II
that line. At the counter, bankers continue Il
sell New York funds al t-1o premium, and to eu!
as rar for straight sight exchange; lilo discoun
| for grain btlA ..-....... -.
Government bonds recovered to-day almost tn
| whele decline Of yesterday. and sold declined
about the came proportion Railway stocks hAv
| also rallied aR1in from their sudden depression
last evening, sud the whole ftock md bond narkt
seems to have recovered In = great measure Il
position Of day before yesterday. Tht tondo
J | quotation ter bonds opened At 7sk and BY ate
| noon advanced to IN.
The announcement that the Secretary Of Il
, | Treasury will devote the surplus gold Of Il
Treasury to tho purchase Of $50 bonds tn It