, 1869-02-04
FINANCIAL AND COMMERCIAL
mONKTARYs


The lnvtrtigat!ons Of ihe United stases Asses- |
+cr In Now Yolk, who Is tn aolrch Of tho sauul
tcsrnuc OF abr Eoveflmeut-and Of which it h2a
b.cn dctss1dld BY msny Of tbs bsnkcra and
bFoteEa nf That city, who bad evlded ihs pay uent
OF tbs tsx on capisat-hAya fcfulted In somo de-
vrlopnsnta which are not dater!ne 10 the
rtAndasd Of ttt,Enty cYen amo1E those who
sIand high too In eocla! estimation. o. the
mnst noticeable in.tkLces ara tho4e OF tho True.
trrr tf ! ptumintnt church, who had used me
l1ndr Of the thfHch entrusted to their keeping
TT trern1atirR 10 stocks for thsit own proHt.
Ctttr cl ofthrs arc a1so raid 10 be heavily mort
GaTec-ehtt tter hy tho cors~nt ofEc chu.ch gov.
ctnnenth or not. II Mt INC cNtored-t3 get f1oda
10 speculate In stockt. a haLkf:X house In good
statd,tR. at the nfm men"ers Of which seem 10
LitdA a 10 tell lie. hul uo e.,ll VI ling 10 &c,
upe to cvAde ihn s11 On capital md Fwtndlc lhu
government out Of tts Inst ouca-.hls hank ''1c.
D. rts ncutL ny month 10 capital. ant 1wesrb 10
iEr rtatrrn nj. Tie Atsctscr ioQuIes. from Gu
:'orit, peshspr. how ,hcJ mstasc 10 DO the very
lArrr BURNERS a.'ftbuAd 10 the house With. nj
Gsrlt,i. Tic rrAdy answer to. We borrov tur
clpAAl' The AsscfteF, stu cu.tou-, parr: 'trw
n'uchf Five husdstd teoutasd to!srt.' 'Or
~ on <io jon borrow Nf yhr htua Ia tampcse3
ri '~o bro'hrfs. named William and John, ana
The arswtr to tho question IL, 'rhn huus. tor.
,o~' e1S.tW from Willisua sna f2;0.Dr0 from
Jusu.'" Atoipcf class Il ba, tets nho cvade
| SIC tho aEc1ts of l.tfs European houats,
| who, thoash shty oupoy In.
ucnss &nus Ia theH bast-c4& Ia
.ew frsk. tay thai they are only agents, sca that
the cspitA 1ot being ID. IsE It 10 not tntjcct 10
tArstlcn. The loss to tbs c;,rcrnmrnt BY the.e
evs'lofa Of faukers OF that city dasire the year
y roreh!y eti1masod At stsetsl millions, snd the
officer ~he would co1le {! the dues Of the govern.
MT ct IA comstlsd 10 fuyersc the common ta.u1p-
inp Of the INV, that secured perrons are INNOCENT
pntll they alc proved to b sutly and 10 beltrTc
tnat every man II rogue until he ptosea hlm:elf
soretL Human Ea'ura u Of eou5ae 10 woste IN
New Yotk than anywhere e!se, hnt the Erek cen.
uAilxtucn of ail ops anasc!a1 snairs there tloee
the war, The ikcieastd <4.e with which meu who
could command capital have bcen Ablo to make
eInrmana tums Of money, ind the utnAsutal
su1p!us Of funds there It eern!n sasont,
Which u fotsered md p<rpstutted BY the
!tulta IN eur eAnktE eyttsn h1Vo Ill haa almsst
- dcMosaIlEinE IN effect ~ the Enelieh money!
mscntrs of csuiurJ- and 4 half ago, which began
1 rNh tie South Sea Dabple. The cases arc. o!
course. rot psllllcl in the ono important point
that whereas then the stocks dealt 10 were utterly
w1ttont foundation, the shtsts being ahAres In
IospttR hat 1 panc, the ttoeke ROW deaf IA have
real value. And will pay legitimate dividends
even atrhe recent psfcrs-hut that iho sa.e tf
| uaaloI InoIey. Aua the gambling lptri: encouf-
Aud b! II, has hsd A. desnorsltxnx n feet, IL
| Hot unreasonable 1nfestLcc from such instances
| as those EeLttoted.
The propoIal to scdtitnhute tho Eat,pnal
BaLk circulation On tie basis Of Bstks with L
| caf1la, rEder Two hundred thousand dolllra to
hare 10 Fer cent OF ttsculsion those with cap
stAl Of from two to i've hundred thousand to hare
70 rtf cent OF circulation those vi c1pltal OF
| five hunertt thousand to one million to have 90
rtE ce1t Of ttt:u alton, ind those with capital
over one million to hive 50 per cent circulation,
which II acw ectrG discussed IL Cougtcss, ,toula
rare the eject 70 1tduce the bank circulation Of
Chicago National Bank nerly million dolla1=.
TIC sh!t.t en- National B.nks OF tals city have
now Al aggregate circulation Of ,s1s, All, where
| - tn The new oasta Of distribution they could
| havr bul s. 81, CO., From this It IL appartat
| ,hst ,ht ets ct OF TITO proposed Law would be to
\ h the circulation Into tho country hanks It
| lie e1p rte tf tbs city banks. II couctrY aark1
o,a tcs 1t c1csrc iMtcr 1u Emtetn Stsres Tim II
Nehfn and southern slAtes. tic obe:. OF the
iA~ would peth .ps he ae.ooprsaed, nnt aoi1cs~
| ctt,e ut ID 7etsihtc.
/ 1hrre teers to 20 4 ltHlc nosc activity In tAa
[ den II q lo1 more5 In the loc4l us-tet, chiedJ
tiur cra,n att psas.ttoa o. eza:osr, srd At bsn<s
most n rmatets COT nee et With tho cgatn staac,
e.eJ II tight, y Ellie u those having f-tt aver.
Aye o: III ela.tes nf onzts tte demand u mud.
ess,e. apa retae whosc hullt ess IL .ic6y u1nr-
csnt,le arr cv,n ,ak,c2 It'll F.rcr # N pcttpus
| whs ars OF zesulaE suato1cr1.
| Ct1zcneJ EosEnenA have run dewu to 4 tov
| enb. the AnlnLn received 1rcn A.d ahtpxed
| 10 tic cou TT bel1 Z veg light
| hxetaIEr coLEtRes ~ nm - erer, And
| i. tne ta.nt r11ccA II wrics It has ruhed fos
ioe pa.t two CT thtsc wet4e, salea Ee:te madn
bstncen bants to cay II ;Qc 70 75e peT SIC. o
| p.enfum At ste eeu1tff, yases remain un-
cs.nsft, bakers 1tStIg Ct Their c1..om - n:
f,em Il 10 10 discount. Sid te.taz a lilo pre-
| mum.
G-.enmcn, Bords ard RtilssJ slocks were
al uis tcs ,e-osy ts.n scsssaa5. tbs average II.
| val CO on beEds bctrG about he, wh,lc Haiiway
SIT ek., *hllh arc II s@srsSe seoas four OF d &c
n, Ct ut k.shrr traL 4 month ago, ssiil Reem -
sr u, ~ tvcs. With rrsduxt and s'ta II increase
| OF p.,cte, winch sto1s tia: IN rr !csitimtte sud
At. ea1et aes,ug csusee than the usnal sptcrl1.
uons arc gradually d!stnG them 10 higher ptsre
Ct pe.etr.
pta:c,s' rates far buying ard tc,lt.e Gorerr'
1 meet Bcn6t. Local Stock. Cod and sllrct, II
| a.ia Il a1ktt this a!tc1roon we're: