, 1870-08-15

FrcctAi pfsraseh to The Ct ieaso Tr;hun,,

EFFkC1 OF TIE WAR ON SkW fQkE E&NKA
NEW yoax. Aug. 1k.-Tae WIZ in Europe co.,
t.nues TO drain orr banks Of specie, thereby de-
creaatnz teetr legal reserve, and forcing them 70
contract their loanA This total e1pors1 OF specie
for the past 1rs KeeE1 h2ys been $1a,5sn.711.
TIN. Europe haa deprived Us, In i've week., Of II
amount nearly As great II shas held By the New
Yort bank1 n the present Tins, to-wlt, 3st,lo4,-
~. That u to sRv, drain OF apecfe fos TIT next
nve wHefs lko that OF tho lAkt err weak1 Viii
clear out every Collar Of gold now held
by the New York banks. THIS los of
specie BY the banks enfosces 1 contraction Of
loans On them precissly thu sans n tho lo4s OF
greenhAcks or legal tenders to 4 similar amount
TIE banks reckon specie IN shelr legal resesvs the
asme II 10 many greenbackA- Tns sos4 of specie
By cur banks Is therefore the stme n the loss of
legal tenders to them 80 far IL the contraction OF
bank lo2ns is concerned. Their loans wefe de-
creased last week 81, a,5s4,391, and slace the wE
coutuenced about $7.0oo, 900. This movement Of
hank contraction. enforced By the loss Of specie
to Europe, may be seen IN tie folio wing compan-
son Of the condition Of the banks from July l6.
when the war commenced, compared with last
week:
se.s:. ..=sss9s, s. ..ss:;,s -; R.s: s:sss,,
eRssst esa:ts s IL ss p p ''ss1 ss:sss
Deposits. 2s+ aas,7ss qls.074, ~ Dec 10 ,ssl
Legal IDS. os,4s',s+1 sl,g'*.ts2 Dec 1.4s3,o:s
Ths preceding shows contraction Of loans Of
ss,7es, ,6ss, While the banks hare los, the euor-
nous sum Of f1' 0s1 ,sss In specie; and the equally
startling sum Of $ls,757,s ,s61 IN deposits; or the
amount to tht credit Of the commercial comma
nltJ in the banks In plain ter7c&, Eurone has
aiken $l1,a51 ,aS5 in gold or real money from the
banks during the lAst 1Te Mtcka, and the CON-
merciAl community have lost in the same period
sls.sa7,s ,ss1 in deposits or money to check asainst
That Is to say, the New York comrn1nity h1v,
lost $19, ,eas, SGT In deposits or bank bAlances OF
available cash, since the War commenced, and lnp
country has lost 81 osi ,sss in go1l Of real money.
The utter stagnation Of speculation and lex!u-
mate business has prevented this loss OF real
money and bank funds from telling on our money
market There Is no demand for money, because
ho>!nesa and speculation are stagnant; but tnis
fact Is evident that Europe, Of,
mere strictly speaking, the Bank OF
England, holds the screw which can be turned 4,
pleasure to squeeze ts4 600 900 IN specie from ths
legal reserve Of the New YORK banEa. This Is
one Il the grave possibilities Of our financial coz
dItlon 1t the present moment, and il not pleasant
to contemplate
DRr GOODS.
The general features Of the dry goods tra'c art
caution and dEstrust, ow.nX to the fluctuations In
Gt1d and The unsettled views IN regard to tho te-
suits Of the war. The trade for tho last week was
light and Irregular.
WINES.
The hoatile armies are nanGaFTtn9 through the
Champagne country for q battlefield. and the re-
glon il experiencing the deyastattons OF war. The
result IL Likely to adyancechampagne wines, In this
market, materially. In view OF this contingency,
TWO 1eatlng New York Gibbs we're buJ1ng la1gel,
last week - anticipate the advance
POLITICAL
It Is understood IN Republican ct1cles tnat
The President opposes the nonltsa,ion Of NJ.
Greeley for Governor. and tavors that Of
Stewart L. Woodfurl, who Is pushing ht.uself
vigorously. The ani!-HoHman movepeut among
the !. ung Democracy gathers strength. Some OF
! the leaders are negotiating With Collector Murphy
on the basis that the Joung Democracy shall vote
for tho Republican candidates for Congress, in re-
| turn for Republican support Of the local ticket,
headed hy Jimmy U'BE.en for Mayor.
| ITO the As4aciAtcd Pres41
| SEw 1oKK, Ang: T.. .fSsntJ-oas surgeons.
| the Ffuaslan 4rny since the opening Of the war,
receiving their e1renses our: and tho rank anu
q eaoe hon
s1atrs that the competent authorizes at Berlin
| rtject decidedly 10 surgeons net speaking Ger
man; also, th.t tue army and hospitals have
/ nurses In abundance.
/ POLITICAL
! 4 citizens meeting In the Ninth Fernando
| Nood's) Congressional District, last evening
pledged tho Nomination for Congress- to William
/ Mt-SAutt WIN A8S tAF[0S$El lis Willingness TO &C.
| cCTt
| DIVIDENDS.
The Chicago d Alton Railroad divides a nor
| rent seNnl-aunuzl. aud The Adams Expfeas per
/ GENT quarterly dividend.
Edwards, lightweight champion goes Into tratu-
ing at Cypress ltllt l. l., to-u"rruw. fnv ! nxht
| with Couyer, 1t st. L,uis. September II.
| YACHT RACK-
The race OF New York yacht2 from New Lon.
don to Newport, Jester11y, Wa woa By the Tldal
| Ware. though the Palmer, which arrived TWO
minutes !ateE, protested, on account Of the ny.ng
Start ty the Ware. White Cap won the prize for
:ioole. 1he Camhr.a. Danniiess Magic, Sappho,
F1eetwtDg. and Phantom did not comnese.
! BEATEN TO nEATH BT EJNAN.
| WIlllam Dawes WAS beaten, probably fatally,
| last hight, by Margaret Dunn, a!sas " Biz Mag.
She Is now under arrest for murder. The affair
took rlaee IN honae No. Bridge street, in which
both were tenants
CHARGED w1TH..rHK NATHAN xCRpKR.
Ru1nof SAYS young thief, name not gtveu, has
l.'en aT1cahd on the charge Of knowledge Of the
| NAth1n murder.
| PERSONAL
President Rcyr. Of Libcrta, arrived yesterday
m the Palmyra
/ RErOR1ED RIOT,
1t Il Stated that TWO Italians and two Ir1shuen
| were killed In RIOT At MamAfoueck yesterday
/ ARRITEn
NV Y0RE, Aug f+.-Steauaes City OF Btussel,
from Liverpool @tn, and QueensoWn 5th, arrived
| late tonight