, 1870-03-25

| seesias IN rfeA,d - National l.ak1 iszo-
| tahe1; Il will de1eat tho osta1si,Au obis:t}o{
J I4e oln ng deptecAting tbs goverucnt c.elit.
Hpp1ieni Ihss it has done already to SONS
Eanks IL omitted, it becomes I'll to nrovide
.& tass1Iah,ng .a ~ per cent bo..ds to tho ho.3-
en OF The present per ceuta whenayer tha
1ttet sAAi be enough Ah9ve par to mike it to
to aasAn!afe Of the holders to exchange ths1n
:sn !I 1ona that has longer time TO run. It
e.wel enough 70 provide for this contingency
whenever it Hhall nise, hut eyen to thi5 n,ra.
ntc RECOMMENDATION thesp ia N Antidote in
~: boas~elis scheme. because it provides for
E1fing commission Of per cent i, spnerl-
ha39ag hat39g aotelgn bankers 70 d What the present
noaoGta sn1 ~ ne ionde viii do voluntarily when
" snal hc I" thcir interest to DO 10 At al.
A.ny ot the county National Ranks hays
oealnitcls aTowc5 their p:1I o.%e TO their CORE
sPonoehss 1eFe, TO abandon tho Eahnua1 Bank
mG sfs!em the Fnnding bii1 PASSES. 1t is
Ieaas1 Ieu s1oHh ~ tn2s tnc connsry National Banks
depend more on tho profit from interest on
the1r LondH deposited to srecuro Circulation
than city thnks, and that IL the only induce
tncnt Vhich many Of them tiud 10 continue do
ing business subject 10 the many arbitrary ,e-
9nrements q the National Banking lav. Its
eaes t1 see Hhat great disturbance in finances
would produce il the majority of the coun-
~ National Banks in the West ahnuld abandon
tee esssem, ~ they probably would in the event
OF the passage Of the Funding bill. Il uoaId
not oniy contract the currency by the withdraw.
a. o. tseH circulation. bat ii would throw the
reliable channels tlAn the urcseut : boc.uHa,
even thoueh Tie sAue individuals might in
many t1stanceA manage the collection. in mi
vate banks. they would he less secure becal1se
they would 6e subject to fewer restraints OF
i'e Jaw. 70 organize It al al National Banks,
ley must nave certain amount of caoitat.
s:.d to gel this capital they arc Obliged 70 COM
sane sho best men ii the country towns, Thase
heh nave regulations to Sustain AMI csr!, ia 4
support to the ta1lk, but il the National Daaks
v1nd rp, the collecting will be done By p.ivate
naMvlanas VINO VIII, in many instances, be
In the local money market mattc.s are Tey7
quiet Money III working littic close 1t some
OF the banks, but not generallv Business is
staErant; and those who have the credit upon
Which 70 be1ow money hare not confidence
enough III shc Iuture to Ilsk 1t in commercial
large BORROWERS. and tie merchants ~ bor-
rowing more thau thev waro weak
lgo, owing to the extreme lit6oaltv
Of making collections in the country, but ap-
proved borrowers get what they aak for With
cut difficulty In many kinds Of goods, but
particularly in d! goods and i,npo1tsd Goods
Of al linda, prices haye been rodnced to cor
respond with the present price OF gold. and on
ti1is basis there would probably be sonns re-
vivA Of trade il it were not for the fear Of The
pssssge .! tue Funding bill and its consequent
disturbing effects on he currency.
Exchange is finn At Soc per al 900 premium
for sa1es between hanks. At the counter bank.
ets buy at par, and sell At lilo premium.
The Clearing House Association OF this city
have appointed Messts. ]. y. Scammon, c. b.
Blair. Henry Greeuebaum, ". F. Coolbaugh.
and Joseph Aedill committee to draw uD i
memorial to ot,s Representatives in Congress,
presenting the .iews Of the business interests
Represented by the association on the probable
effects Of the passage Of the Funding bill upon
The currency and business interests Of the
West.
Sales At thoFeock Hosrd, to-dar, wero:
70 shares KeIrGSi!c Insurance Co.., sot:
SlHp L. i. t-9ps Of f1567.,,x.,....s... tast
The following bids and offers were also