, 1870-10-06
MONETARY AND COMMERCIAL
MONETARY,

WEDNESDAY EVENING. Or.
TIE banks report ! further IDerea=c II tn-
cemaua for muney, though they are net. Q:
Any mea14s, active IN supplying II. They fe-
port la. comparatively little currency or
Land, owing to ! continual decrease IL III
llnes OF deposits, aad a gradually growing de-
mand for money from the country. while s''
:sle Eastern exchange is niaklnt; tAst u
arkc1 il quito b1rt. AID tie prospects a:t
slat it will eoor be necessary to slnp currency
to New York to meet mercantile obligation
maturing there. nnlesb there is speedy aug
1nentation IN tie value OF cur lIoIace ship
meEte.
The Western situation ii a peuaiar. one
With full crops OF magnificent grain on Asad.
aud tue middle Of The fall shipping sea=2n,
East largely our debtor, inasmucA ~ We do
large sl.ase III feeding that SECTION: ar1 the
rest Of the cereal-consumioE world. We are
yet behind band in the account Our West
eru merchants have bought much more lsrEeis
Of Eastern goods than our Erain-holders hase
that, willie New York is rcSehng ii a
comparative pecuniarY plethoza. We are
Which ,as seems % every dsy 10 be craving
in its intensity. Money Is being freely e.-
pended ir works OF Western improvement, but
mich Of this il furnished from the Eat as
subscribed capital. or borrowed cash. These
oierations, therefore, do little toward prea-
ent drainsge OF tHnds, while adding to the
permanent wealth OF this section But the
::,ration hss nnothereause, and that is largely
iu tho direction Of personal expenditure. Os-
ing TO the benign operations Of our protec-
tive l.oficy, the people Of the West are still
| paying very nesrly war prices for much Of thas
Which they buy in the East. while receiving
tnly peace prices for the fFrits OF their labor.
| The exchange is thu. Al unequal one.
snl c.nnn:, long continue Oh the r.eseat
terms. Either tho relative values OF that
which We eel TO the things which We buy
| must be changed. or our expenditures must
! lie lesseued. There Las been but Ittls OF tbs
| ler.eIiug III the recent pa4t, though for tWd
-yeste 1hele AAa been al almost steady drop II
| The Prices Of breadetuifa- AZ consequence
] ue appear to be short OF the wAcrcwithsl T.
pay for our Eastern purchases, and the peo
IL anxious to take tl,st which ne have to sell
even as pre+eE. pricet, willie they do insist o.
she read, cAsh.
-tringency will doubtless be Experienced whc:
ihe call 1oe tho bank statoment she'll 1iAyI
neeu published. but this can give no perMa
nent relief it will be only ~ dtop i'll th
bucket. Applications for l0aus are alrea1
mu1o nume1cns than eau he met. Anl II is o"'
70 regular customers that the bsEEcrt e1tcn
accommodations. fety soon the packing SO,
ron will optn, and then the c.ll for fuuas Vii
be very much greater, as large amounts ar
needed to put cur im1nenee packing mactl'ne
r. in running order. aaa keep it going shrunS
the winter eeason.
We have now about 3,s5o, 900 bu Q. grain i
! ttote ia thus cisy and tho amount il luerel,
ing ir.teai nf diminishing. Almost all {
This. except good percentage OF the barla!
il held l'y parties here, whereas ordinarily
considerable proportion Of our grail, is bel
ty Eastern mcn. They l,sye fought ehy ot
taiis autumn. principally lecaute they fea:e
that frcishts win be run up so high az seE
nrslv 10 cnIta11ass tlcEa in the effort to u0s
! il, AID there is hut htila present demand
induce them to transport it before fla Gle:
of navigation.
Eastern Exchange wss inactive to-la
Tl,nre were several buyers, hut no rcpor;t
-o.lers. Rates between Lanka were nominal
ting, 7;1c per =. COO premium. Overtin count
tile selling rates ranged all the way from p
! 10 regular customers, to Il per sf.C0j TT
MUM; butlng rates were Sos Discount to l,a
: TIE following quotations were received
!; | day by Uattatt Il March: