, 1870-08-04
MONETARY AND COMMERCIAL
MONETARY.

" kuSE9pA1 EN aug.
Tho currency baiauce OF the National Trcas-
ury Is now, according 10 Washington tele-
gram. S3a, ,0G5, 900. This il larger sum in
currency than hiss been held by the Treasury
for two years past, the avcraga amount having
been about sl2,0W,o0 and tlle largest
amount held At M Que time during tho past two
years was go .0o7 ,013, On July l, 1869. Last
ycar tho Treasury responded to the demand
for currency to move the new crops hy largely
increasing its bond purchases in July and Au-
gust, SO that BY September the currency bal
ance was reduced 10 S12, l4a, 1877. thus inc.eas-
ing the e.! yolnme o6a ao 81 currency in Giteul.ton
rent that by the end Of tho present month
there will be : large demand for currency to
utove the crops, and, Us no new Nktion.1 Bauk
currency has been issued vet, currency is like
IL to be very scarce within the next forty days,
unless the Treasury increases its bond pnr-
cAascs considerably above the &c, ,00U, 600 in
the present programme for August.
The Treasury also holds el0l, $50, ,009 Of
gold, Of which $35 0G3, ,p0l is held against gold
ct1llfcases-lelvtnE SG3 ,B62. 900 IN the owner
et in OF .lic government. The interest due on
the i0-i0s On September will DO : !, SIC, ,0tN,
but with the current receipts for castoms, and
the Treasury could sell a0,0ao, 900 or even
@50, ,e000 OF gold anr week. and still have Il
large coin ha]auce on land by tho time the
November interest is due.
Now thht the usual flow Of currency to the
! cop"t1y for the movement OF tho new grain
crop has begun, it is worthy of remark that
there Was none OF the usual return,
Of currency from the country this sea.
Eon. or the four or Eve millions Of
currency Ecut ont Into tho country from
this city during May and Juno scarcely dol
Lar haa come back. It Aaa all been retained in
circulation in the county, md shows that the
business OF the country has increased enough
to Afford employment for much more currency
than yoar aEo, when all that was scat ont in
the epEinG came promptly back in June and
july. The currency is moro widely dispersed,
ana II, therefore, comparatively moro scarcc
,, tions TO the Comptroller for National Bank
,i.r'lai1on under tho sA,UO0.0D act
Ut Congress,-A 1lrge proportion
u which two hundred applications
are from this State-show that the business OF
this part Of the West has increased greatly
| Ct currency IL likely to b felt this fail.
The orders from the count17 for currency
to-day weto scarcely 80 large ~ yastariAy, but
| - there ie none coming in, the tendency il
suite positive in the direction of the county.
| 1t may now DO safely assumed that II IL the
:01exunner OF increased recaipss OF Eraiu
within i week, and that the incroasc OF re-
| ccirta will be, TO q considerable extent new
| E1ain.
Money contlaues easy, and shippers Of
grain readily get AL reasonable accommodar
1tous at the banks. Merchants are he2yv Dor.
rowers get, because they have had unsAtisfsc,
t"ry experience ~ collecting III the country
ut the rresent disposition Of country hold
.Es 10 Teatize Gu their grain will soon MAKE
,Ll|ectious easier.
! Exchange was easier to-day, with ssics be.
'Aecn banks At from par to IS per q ,00o dis
| rouut- At tho counter tankera- sell 1t LII
| rtminm and buy 1t LILO discount.
It's following quotations for gold in New
! York and securities In London to-day wett
/ ltccived by Dst1att 4 March: