, 1870-01-18

a.one. II The barts are permitted 10 depos!t bond:
ana take ous calculation 70 cul5 tas Aneant Of q
| Der cent Of t1e gold value Of BE oonds ID INC
] maztes, but Fever to exceed 50 per OF fao pa1
Vatne Of the bosd ds tn aod tAetc a4ed b Eo leeal
lult to the smcunt OF circulation khey na3 nsve,
for on th3s has,s the holder Of tnetr notes II not
only tecnre sss,nst ul'lms'e losss but too siths
drau II Of tho greer oae1a VIII ohke tbs hanks u
gradually pu. tbeErelves Oh specto bass
and o1llse them 10 g1aGu3nJ change the'E
g1eeuosc reserves t, spAeie feferseA even WITH.
ont any le2ni requirement to that eject Ar-
snpter bill stauds very itrsls chxcee Of sdopsorn
20, only because It atseups 10 accolEai.h TOO
uauy-rhu ~, bur became tho ratrd OF Coogsess u
evtdensIy tpogng to & ard rrea canEtn2. unon the
ground that Il !. o right Tor ora to hEve rus pty.
uege o1 htuiug notes, It Is Nroag In principle %
withhold fhe privilege from all who deposts tho
same secus1:!sA~ Al NJ. Sumner ha. sao m By
The public admission Of hts cnscge Of optnior On
thu suht.c. that he Il above inst petty conAisten
q which Enetsou says Is the " bugbesr OF lttts
nlncs. re fhan nat b surprised to- tnd hin ID
vocatltR tee banking oE the tasls ahoFe tDdcated
before the end Of the session.
The blunder Of Sir Currta LsmpAou II f1Jtng
th4s Urited slseR $50 buuuA vero not - naaT
par At ss in the London 11sIzes n British cousols
at 81, Seem9 cot only to be ep1rEa2ed By the
Lnnoon Times, bat even American jouruR.s hstp
"a give the error cu11e1ey, bJ tne nante n
Attacks upon AT Her1can c1edfG Even 70 excolleat
paper n tho Boston Copsn<se1dl Bulletin. In n
article upon the s1ardlng Of eQr Credit abroad, :
Hys=
"The 'Lopdon 1fnks, tatthfu5 to it, mission OF
abusing Tits country on evefy oeessinpr peraissa
IN hlnttrg Ae poeainle Iepndis1too, th5 feA1 Of
which, It tA5s, prevents American per cents
trum rsug Us Eear to par =. PEI cent coosols."
Tho BalItttn rnen proceeds 10 give variouz res-
sons why conndezce IN United sia,es bonds
should II crease In Europe, nut falls to deny tbs
falso statement that ..congols as - are higner
tuAo esos At S." It Is not improbable that sans
ard government of1eAla, who aze
most persistent IN thetr schemes Of relurdng tbs
debt 1t once At per cent, have 1Aken a. ono Of
the premises Of their argument 10 favor Of ils |
erroneous assumption that tho Dft-
lsh per cents were higher IN tho market than !
United States per certs. It IL t1ue thas this |
error Wa exploded and the fact made mote gan
orally known tnnt the par OF United States $50 |
bands IN the LONDON market IL VIZ, And that The
par Of British corfo!d IL 100, ana that with United
States COS At Sc, they arc In reality only per
cert below pa1, Hhl1e eonBos II - are pot cent
below par.
TIE local money market continues to show sorr |
alight ptogyeSs 1owasd case, ard tho decided |
abundance Of money In NeF York farors ss,A
earlier condition here, from the fact thas saou1d
bankers hero feel any considerable pressuIe from |
an Increase Of the demand for money they coald
tha more readily get redtseou1A In New YofI. |
Deposlts are tncleas;ng With some OF The ea1kA,
and there Is, perhaps. some general improvement
In that 1e5rect The demand 1ot money continues
light Jet, though the appearance OF soGe moro /
10 opefaie IN produce, nakes / pros
pect o nore Activlty befo1e the c!o&e OF the HeeE
ttan at presenk
In the open market there ara asil soma good
aanes being offered at rates varying from oas to
ore acd ! bali per cent per mooth, but the otycE-
pgs are fewer tran they were last week, hod |
here Is 10 d!nlcnlsy in getting money on good
paper at The ratea mentioned.
There u but little currency going 10 the country
now, and the reeeips6 from thss direction arc
thought 10 be slightly In excess OF the amount
going out
Exchange continues nrn at COO per $1,000 pre-
MUM for tales between bankr. At The countar
bankers Sell At LILO premium, and buJ At from par
to 1-10 discount.
At tho Stock Roard. to-day. fales were:
Is shares Republic Insurarce Conpany....... eot
f. Geo American gold .,19tE
saoco American gold, seller 50, ......... .....l2H