, 1870-07-24
MONETARY IND C0NllERCllL.
MONETARY.

sArrEpAY ErEstSG, ju'y q,
Finances au's tie matke:s generally are IN
~ unsettled AID unsatisfactory condition.
Tie prices Of grain s!e .oo low fos war
pEces, hut two h.Gl ia be maintained except
ligl for the condition OF graiu in this market,
aEd in view Ct the coming crop. Gold j. At
: higher prico th1n ca, be maintained il the
prospect Of war -houi4 disappear, but lover
thsn i: viii be il tho actual sighting ,akes tho
paee Of the present psrtssy:ns a.a thFeatsninS.
most ; certainty OF war, the
natural tendency Of the markets would .ssert
itself, E.aiu and geld woal1 decline. and the
gold value OF lols1- in foreign markets would
advance. In fact. the immediate prospect OF
STIMULATE prizes af aresdatuns, aud though in
the event OF great BATTLE being fought,
py.ceso graiu, provisions, aud gold ~onld eud-
Denly advance. and bonds AZ suddenly and
temf orari1v decline, it ia not improbable that
au immediate reaction won'd take place. As
faz a. csn nov be fc1eseen the was IN
Europe ,pzoGaiaes to be :. slsost
such war. tue effects upon Eni:tl States
bonds, aud c..1l= eauenlly upoia Tbs currency
price ct gold. tfor tie rise OF goll coz
Responding to tha decline in the go!l value Of
the lesaAni uasss Of the government aep:e-
ciate in sympathy with tLe intere-,-aa,Iins
obligations ct the salnc government III
foreign markets.. lave proaaGly hecu al7sa Is
discounted III aaivA,.ce,. If. however. Other
tulrostaat power shouks u drawn into tic
neutral, and in tba, case the
disturbance Of tho markets wuaii
far exceed anything that has been e5-
pt,:ents*a ,es. 1he initial poias where all
ti,is disturbance wuuld begin tu influence our
/" ole h1sle's fur gold, Produce. and cam>
ncdi:its ecuera!lv, IS the gold Price Of our
bends il, The London market. II capitalists
the1c md that s.,es can make more prob, .,s
sel,ius out oIs bonds aal buying the bonds ol
Lnro;'ca;. GOVERNMENTS at srca: clscounts, as
the, bought ouIs d,lring uur OWL war. there Is
speculative efiEst enough Among the great
sa1 italis1e ri Europe to take thr option. III
hi. rsEe tier. World he ,na1.y tefegrarhic o--
Il at.iye. and remit the guild at once
asains, the shipments Of tsulis from london.
liz tlar alrcstly s'rel. Jnn.. 10 considerable
ts.tnt. ami sitc bonds s.iPped from the o;her
s'et Will toou begin tn arrive. thoasal the effect
Of their sale li:s already been experienced.
the 'oi:d makes guta scascc aud advances its
IEsce. III other wutds. the Erecuback cllrfencv
dcI.rt:iaies III proportion A. ti.e foreign tloiI-
err Of o'.s bonds send them home for sale. Az
greeilacks ilepEeei1te tho prices Of all COM
Molit'st wl,icn re'ain tug SAME gold
Solt s.,1e Ct tonda wouid havc declined.
their es1Tetcy price would NECESSARILY
remlin Atuu1 the same. THUS il bonds i'll
1oadcn a*cli:c to 10, gold would advance 10
li0. making the currency price of bonds re-
r:ain at abos' 1oa, Int IN shs. other Lsn'l il
botls adsancs to 50 in Loajon, gold aoall de-
c!iEe to abon, lU, ar lGy as Hisa:h price the
eAsIes,cy rice Of b,nis wt,u1t3 be about lbs.
III the leea! IL uey market matters are rath-
es quiet. slone5 IL easy enough for al lcSiti-
mate rurlt scs, s,d ,luae WIN ask the 1,srks
TOR lnooey, tt Speculate lii grai',, get it. unnn
their own responsibility. and hot upon the
grsin collateral. F1um the difficulty of making
collections in thr COUNTRY, it j. bel . ed
that large rrnpo1tnn OF the srain now held
heie is on rol ntry acaa,nt. aud that il il coun-
try -: ital that i EGG it.
Currency coltin;les -tatce. aud put Little is
being received firm tie country.
Exchange il in good supply. and sells be-
tween banks At l-1H di,~sunt. At tho coulter
bas.htrs ss''l At par to In premium, aud buy
at :a.G0 to :l.s0 per Sl.0N1ff
The Manager Of the Clearing Huuse fu1-
n!sh:~ tue following SUMMARY Of the business