, 1869-08-20
MONETARY AND COMMERCIAL.


'htHsHAE IsfAhlfut huGust w.
Thrf" ia hcascelI an,tb.a to tc nAli III cuuu,.;.
tIoM nM 1tuulca Ill ttAls nla,kel. Eyrrylh1ux -.
lA'" nratly tho aA,nc fur tAu last .ltpv 4la,A
9hc hAfaAx ur wult snpps.i with lnAns,,lp fll..ls,
hnH far tftuH ttItH inatx money IL very rnAY. The
tluhx however, holi bncE irolM so,n,py parity ,r.
thlIh+ They hrr tAtnHtIbE sudden chnukS Iu thu
thonrJ inu1kek ~ame time anf1nR Tho next twu
"tcAx, ard arsJ a.1, hccat.st, II lx tirar ntro1t
TITS siiIu thai would probably IT. selected ~ TIC
coinI'trulltr VI lhc Cussruey for y ssutcncnt.
Exchange WI. higher t,-,lsy. And svil Lctwerp
tmnkx Vt lin discount. Thc ncrt,tcd nTn,ne.s VI
e1chsnxe lea CHECKED sAu us1rfa !or eurtrncy,
AL receipts nf the latter will, thtrufnse. t,e lighter
ssu!tha thr iIxt hlf u ltu "eek- akrrs arr st!I.
Ing Srw iork 1uAds to eusttluers " shs Couu.as
Ht tnr, AMI tHAnx Al 1-i0 discount
t'old ~~tn4 to t& !a tAu way tIs, ra:trr, IN y
good war, thu prraent cuul,l only tn relied upon
~ = IeunAntnt tendency Tbs pruspeG. ol q
SPEEDY increase Of cotton e1purts, and Kuul tx-
I-ort tet:aid for trradssuns. together With the
pTveeAt relative eoud!t!on VI thu New iufk md
k'hdah markets for government t,oh1s-wtIch rA-
vprs scxpnE;At.on-haye INT sterling exchange IN
New YORK nplE!y down TO PAR. These have rut M
cH,i 10 al tho calculations Un the prospect Of Sl
e3purtA which Bet:sued ~ !tu.u!ucat Il few week
asp u,,tl Which threatened to run uold w Into thp
:oA Thr lowest point gold hsa tuachea slarc Tho
close Of tue wat was i.ats, on
tiInr circumstances haYe never looked mose ls-
rcEabie for . decline 10 ~ low . pHce AZ ai prs
eHL The price OF gold IL The .l7meat1sc f1sare
Ia, however. more dl11cu!1 10 predict thu any
olner nntGttA1Ie commodity, because the price
o! nothing else IL Subject 10 10 mAny c0nangen-
clrs- The staeral tendency OF tho faxfkets Tor
bteadst1ls, or cotton, or provisions, can each h.
foresetn With 4 moderate degree Of Rppro1lma-
ton 10 their actual condition IN tho future But
gold Aas q two.fo!d character Of money and cpun-
modify, and In tue present condition Of national
finances ITS pr1Ge f1tfates A1u.ost entirely The
Asprc.. Of CTR iorct-n tE11e. II produce c1M,rts
aud bond shinuenta fall Oh, lne pr1ce Of gold Eoes
Up, b<ac2usc there Is al Unsuitable Market for II
any n here's cut Of the Cnttcd state4
When our exports OF otlet products
lnrge. gold decltncs.uutlt It rests upon the lis
court upon that part OF the 1a"lic debt represent
ct bY gTctpbackH. The price Of gold then de-
pends lot only upou the depreciation nf the public
crc1tt but upon our crara Of e1tortat1e products,
which represent our ability 10 expert soule:Alug
else thua gold, aal rpoa the general condition Of
cEops III the other parts OF tie world representing
the probable foreign demand for uu surplus. II
all taesc aspects the situation at present seems to
favor d still lover price for golA
1t viii he Remembered tnAt on the 10th New
IosS CITY Judge Sentenced t~o prosa!nent citi.
Zen5 Mr. Husscu SAGE and Nr, George WattS, to
well ios Esloa1!on Of the usury laEa
This pAr; Of it1elr sentence has, however, not
been carried into eject Jet, onl WAS held In 6us-
pension By ihe cenrt at:she prayer Of tho Offend
c1a utt hcJ should produce additional tnc:s rcla-
tive lo their ;r4nsactons calculated 10 rat1ta1c
their ot1chcc. MI. Sage and Ar. Watts hive 10th
made lung attlaasit IN regard TO telr position III
epciuty thclr husnGks, etc, In which Mr., sage,
who IL Director IN tne Mttwaukec & ". raal
Kailroan toHran5 sets forth, with some tasor OF
ustentat!on, the following iacss:
II nsu not a1t,Tokts by profession, but l.n cn-
gagged Ia the Hct&re management os f1uF II {ht.
largest ta,'xa5 companies IN the COUNTY, IN the
construction Of fur utheE lAtxe and !mputtant
r1;irGa'iS, rs trustee for tHtlvis taEuAd culrpa-
tttes aua theit csa'l,osx 70 ths cxicns II more
than twenty 1uiilIons ol dollars. and tn thr puf
Chart ai,i improvement o real estate in the city
OF New York, where am nor enga1ei In the
CONSTRUCTION ot twelve dwelling houses, hnt theae
occupations cn4ross all NJ time aid htteu'toa ::
I WIS lorHer1y IN business u Il merchant fur
iwtuit years. mud hara lieeH at Alderman Of
Tr1y. Trrosarcr OF the county of 1en.selaer, md
ihi aware untn tex 1a5s prior 10 the uuttng OF
the iEGtctueut tlat the trahsActiui VIII 1r. Scott
constituted q criminal u.isdenleauor."
str. Sagc w!nes mp By stating That he had PAID
tek oil thar be had charged for tntc1es: 0yer and
aipse tcyen per cent per aonun. Repayment Of
the IsEs7uu* Interest Was also matc bI MI. Gcorc
Ihirps and Ecmc others, who were only Sen.
ttnced TO nnts Without imprisonment. IT Is
probable that these gentlemen Will escape their
lnrCi-ttreatieA sujDutn In tsc "Tonhs hut tsietr
experience wGl bc such = WARNING that nigh rates
let money In New York are NOT likely to he ~
cas,.y oti14nc uutll ter nEcry laws arc repeated.
THIS Mil, OF epu1sc, conr nbout sometime, for the
progress Of tiIeas Il toward the removal Of all
such re,Ics of Standardization but IN this nfrsent
auumaluus condition ot our restricted volume OF
circulating medium, which uaAes it susceptible Of
being "tusptftn." even BEca clumsy safeguards
as usury lsws are better than none.
Ura!ct1 IuuiRtdns for buying a1d selling cov-
rrn1hcn, tont!s7 iocal stocIs gold aad silver, In
this U.gtket ffis atscrn0on, halG: