, 1870-01-19
MONETARY AND COMMERCIAL.

TUESDAY EVENING

TUESDAY EVENING. jan. 10.
The usual Jauuars abundance OF money seems
to be tnst beRmuipg In New YORK. and there are
some circumstances Of the preacnt boslne4a out.
loo6 that ntlotd prospect Of greater abundance
during the next two months than Is ueual during
1hls part Of the year. The ntst OF these is the
fact that great nubsr Of persons in all pssts Of
the country hare became co1yloced thas II the
price Of gold il Left free from speculation Will
s.adnaly decline The evl1ent dls3oLuop Of
Congress to put the currencJ On eounder baais,
10 ~ to oollge progress to zstd specie payments,
also favors the continued decline in tho price OF
gold. These prospeca make peo2le unwilling 70
invest for permanent tsade in goods, pro-
ducte, or anything else, the currency pltce
OF which vii feel the enect Of
the appreciation Of the currency. VITA such
vieKs Al these, many unn have withdrawn and
are now Withdrawing considerable percentage
OF fhtt1 capital from its Ordinary Investment In
trade, and will hold It for temporary use In loans
or IN short epecula:!onh Merchants eYerJwhere
faTe probably begun the yeas With the adoption
Of The policy Of rnuolog their stocks OF goods
low, taos fn2nguratlng 9atem OF smaller but
noEo frequent stlea aud parchxaey, &nd dlmin-
1.hed Volume Of cre1tt&- It seems altogether
probable that these circumstances Will set tree
more than the n.u&l amount OF funds during the
next two month";, AID that, as always occurs
when capital L. he'd back from regulsr aud per-
manens trade Investments, an impetus will b.
given to speculation; stocts, gold, and pro-
duce may receive 4 temporary 1nnsuons
aud when the nuctuatops begin
again speculative ventures viii Aososa the nozs-
Ing capital 1t the expense Of regular trade, until
tho Latter u once more On the nrn bass OF 1pece.
The Natural tendency ot.gold Ia downward, but It
ia bot to b. expected that Il viii aide gradually
down to par II long ~ there Il 10 much floating
Spt'nl unemployed. and .whtle It seena possible
that It rusy soon ho subject to wide nne.u1r1on1,
the falls WILL Ia general b greater than tho rises
Dispatches from Warrington say that not 1esl
than seten or eight members OF ths Hoose arc
preparing free banking bulls, TO pe introduced
wlth.n week or two- Amonx the num-
8. ]. Randall. Of Pennsylvania, and
z. c. 1ngetsou, ol Illinois. othess ara pre-
pairing speeches with the sane view. Taefa "a
fa'd 10 be wide difference Of op!oioo as to the
securities upon winch circulation thau be issze1;
Eooe want per cent bond, aud Soma contend
that the bond 70 secare circulation shoald not
bear interest at Al. Some Of these plsns doubt
less aim At icnas!oa BY mailing the thanking
bond =" no better khau Kreeuoscks, and then dis.
regarding the Vital points Of thett gold yalae In
The market, ana the lssue Of circulation On that
basis alone. At any rats The next 1ew weeks
pIoutEe great agitation Of thu subject
In the local money market nuslneAa continues
tu4 AZ far As the regular mercantile trade u
this Is not uauscal for this sslson OF
he year, As mercnsnta nevcf expect 10 do aoy
orta1 buatness just 1t tait time; but spec2latoa |
Is unusually lAuguld. Everybody says pork Il high,
md wheat u low, and yet none seem to hAFe con-
1denee enough N the decline Of the one. or tho
sdTanoe Of the other, to ooo,ate with Confidence |
q either direction. Tha 1a.ge crop Of wheat |
seems to hare completely unactued ali Ordinary |
calculations as to tHe probable co1sse Of plices, !
md the consequence Is that speculative opers-
ions are Light, and the call for money for that |
1u1pose oH1espoudins1y nxtt. Merchants ara !
collecting With Just about euougn Euoccxs tn the :
:ount1g 10 meet their Obligations failing due to
saatern czedio1s but not enough to 3ucrcAse their
,ank balances much. Al present the unemployed I
money Il aocumu,aang in New York, but not In ,
hia 1Qtz1et
The movements of currency between this city !
nd the country s1e VERY Light, and indicate
tght movement OF produce IN tho country.
Exchange continues nrIn It 80 cent? per q 600
premium for aales between banks. At the coun-
er ha1ke1a sell At Lilo p1eu1um and buy ss fom
NJ 70 lao discount,
Bua!aeas At the Stock Board tu,day was only
'orninai. The following ntda and odea. vere