, 1869-03-17
FINANCIAL AND CON 1ERClAL.
MONETARY.

49itNA1 n4tEQ 40.
Tic "Fnbltc creait biu," which pasE tho
sets1c yesterday, row requires The sicy Atuts Of
he 1Tet!dent 10 become I Inv. The reeeat ex-
p:ts:ion Of his ttct.Eents, howeTer, In his itAu-
EuEsl, Il ave hut little doubt OF Whit will bd bus
dec,son II The ED. though, n 1t IL measure Of
r'u'ra, tmpe1tsnce, 1t is p1obab.c he all be In
no remarkable ta.ts 70 add ihe nnai anthority
that will put 1t TITO force.
The Gill diPi d.c ares thAt TIA filth OF the
Iritcd sta'et to so'ern'y pledged to the payment
Of Rtte1hecke. A1t Of bonds At tnslusity In coin
Or tie ietou,vncrt, "e1etpt IN easea whe:e the INV
aulhot:zin8 The tssuc Of n5 zach obligations has
expressly provided thlt the Sane 7dy b. j,atd tn
ldustM noN<y, Of otatr currency faan god or hi.
Ter"
II has beeE held By sene that tkis IL lust what
thr lsws authorizing the several lseues Of to3da
do Irov1de II Ecat.y all elsee, VIZ: that they
asoy be pai4 In lawful npcey," aad that "lkv-
tul ne1 q VI. now >'ol o,he1 cusrencJ than gold
SD t'.yez, s:z.. eresnoacff. this were really
the esse. and 1t WIS not mere play upon wo,d.,
| the act would mean nothing Al al1.
I 1tss4 Et1J ttat tht act waa Eos 20 worried Al to
Avo.d his ea1nte 4 qnlohle, bat ths evidence
tbs: Cone-* cid not meku 10 Gnac; nuI'i:y Nk4
tna1 tbs Fc1tteth CoEkTeEs wefe ssre1a! Neaks
dittusti1s II, md thh, the point. OF Objection,
| waA never rais. d hJ lha Advleales Of pasueu1 In
eolE. Johnscn undesAtcod II to mean pay,
l
70 he Iu,the hi.t in biz pscket, - It Eas eaourl
10 his zepuelAnon ideas. 1he same b,i nox
| passed by The Fcfty-tr Congress etoHn tha,
! the in'cna q II to p11 con.
| TEE remaining put OF this act Simply provide.
that rore n the banee ehzu he piid o.tc.t EA
| tursy ut less the govern mcrt te,ll, IN The mean
| time, hare resumed epceie p1yutn. On the creen
backs. The "rz&tar,t," Of he bonds Is At ths
ED Il The full tern fer which they vtzc 1ssued
\ To- ~ - x At }hA <1f1 1-n
Jel:s from the date oi ttetr 1seue, the govern
] uets blsiEC only the optiou TO Day them before
1Y,t tsssIs. Tkts provision, ihen, II onir attpu
| lauot It Al the rovsrInent sill not take sdvau
tire Of this cplinn to cftr the holder ereenbAet
pe,crr FL ursty, .nd wnn'd be 4 tuL Qult,us OF
Tie iept1stcn aeetr1nc Of Reputation.
Tnc yoea, uo-s} market Is tight. Eysryhod
scsl ov1eoces The fact, and AXIS: Where Ii
lhe ua1ey zone TOT Ard get robody Is abs +
tavs8setly whxt Il the matter, thou n they u
knp. ths mere ants 1t operators In every dep III
rrtt,ftraoe sre IN want Of nooeI, md II their Ct
| n.p 4 an the bAIks arc Eos very pse>ttn9, II
h+r,u.e tier think il u buk hle usesso AK. nth
| p., h a1t a.sendJ expanded II n1ch - tseJ d.
hc win The ,o.tiolNt, ot I statement being ealie
fer oy ,he Comptroller In the beginning OF EEL
snor,h.
Thcueh Temporary ard immediate causea !,
I'll that sppe4r on the sufsaee, the present stsh
| -
re.n,t ~ n4rr trstn Of eiscnmstsnees- It
farmers tn RE Northwestern Ntn7esoss. Nosthe'
wi.eoasip, srd Northern lcwa-sse feeling ~
rooE. In al tnat reRton wheat Is tasu pt,ee.p
: crop, md though &heJ hsd 1arGe flald hss 5es
: ard ,nop,h they held nearly hsn Of tneis 81
ut, ,1e, srs getting only trou 7os 10 SOC !es II
tee saikt, towns. and At this price II does q
: | pay fos tho r31s{rf, Before tie var II oseo 70
e.tlaat. tna ele b.r:lJ ps'd the, cost OF pso1s
:. tioo> unlc,a ,hc Jield VII very lHks 80 -
) now hA mi, the purchasing power Q! oE '"e
J, tits sppaisrt that The wheat 7slssu3 ttfmess
!; nasER 20 pInas on lhs grain they eeh 20
-. Therefore, they are ro1 oalY r1,W N paying los
b ashtS 10 tho coontry mefeaA1
> ua1 tier pusehtses are light, Tho resuN IL u
!ee eontt'J m.rcetnt can not pay up promptly
ios e1sy E9chant, nod tho httat IL Obliged
e. oof1ow OF tho hsnts. who 1ae already loani
!. lf7ely 10 ths gram dealers, sud tnesa last hi
= eer eaH1snE !i1ge Hsuonn,s Of grain 1nd N
: tson week 70 weeE, IN hr1ea u better mail
ID In LIVERPOOL Th<rs II where fha s1oable I,
! N; tie lack 1 asuxnd fae oax bzradstzdh