, 1870-02-27
MONETARY AND COMMERCIAL
MONETARY,
SATURDAY EVENING, Feb. .

SATURDAY EVENING, Eeb. 2G+
The most important events Of the week ia nnxu-
c1Al anAils have been the resolution OF the Sem
ate asatns, any ln1Ation ot the present tlrc-
deenab,a currency. and the large decline IN gold.
The 1Ist OF theAe Two events puts 7'liftus upon
my further rumors about lssninH nore green-
backs, being started for the purpose Of holktefnE
up the price Of gold, aud consequently OF currency
prices generally. Tue second shoWs thst gold Ia
declining from more legitimate and permanent
causes sna1 ssy that have anected 1t for teTeral
yesr.. Tnose who nsttsr themselves that this de-
cllLe Ia only ore CT tho usual speculative
ra.ds, from Which It 1,ll react, and c1rry c1r-
IeccJ ptces up with II, will PROBABLY be mistaken
When q depyesl!on In ia prlce Is caused BY
fpe1ulatiou, 1t goes down suddenly and sharply,
but tie following closing prices on Saturday OF
each week dullrg the current mouth show tha: 1t
haa been sAadtly fagg.lg Gown azatoss al the
e1orts Of the New YORK spectators TO keep 1t up,
w February :, ls9Y; Fcarrary IL, 1ls:s: Feb
ruary 10, 1l9; February IS, TIC. In JesterdAyia
Ta1BrSE We eaEe the statistics Of Tho cotton crop
and cotton exports up to The PRESENT time, show
ipg that tho value OF er cotton exports durtpg
this II ar orer last year. viii be aboat three
fotvths Of ehs fetal exporh ct t7tteie .fnom
ttA country during the laat year. Thia is ~ I'M
potsant fsct and shows the improbab:ltJ OF 1he1e
ber any such revival Of gold exports during the
sprtrg ~ has teeu usual during paaf Jears, A1d
sren lower than 1t ia nou, IN which event 1t Ia
paa tnat an currercy prices must fellow 1t sooner
OF later Thus far In tnc decline IN gold, the prices
OF stocSr securities, goods, grkln, xnd products
| generally have been sustained BY the drnue4s OF
| holders who. nATtrg become accustomed, during
the past three Year,, to see gold settle back
| from al tt nucsusaons to Al average
Of shout f30, have behaved tnAs
! II would ret reset to something appsoxluattng
I tnat price, but when tneJ become convinced that
! a lower average price has beer established for
aolo. priceA Of all commodities are likely 70 expe-
re, &c a. sudden decline NJ Il shoxn IN the go1d
| premium this week as compared to The th1ee pre-
| cedIE wecks-
Tue money market has ruled moderately casJ
ell the week. Bs1ku have been abls to aecommo-
date an rrst-clsss euitomerb. and Zone bsnks have
been prepared TO take mare nsst-clsss pspes
! than was ofe1ed, oo: the sir1attao o.
| tho produce markets doe. nos warrant legitimate
,rad:ng sud saip2:og. The most Of the fading II
! IN opt!ouf, which do not Gait q large amount o
| uunay into active use, md the cole1 demand now
CONES from parties who arc borrowing 70 pAJ OBJ
rgat,ors falling due ......,-... ..
Currency has been scafcer this week thai last
md rco,e hiss h.tn 6e1t lao the country, oattz:aa
several Of the oanks 10 order c1tEeccJ from SeN
Yoft. put 10 day county orders arc ltRnI ant
currency more plenty. .-....--.-.
E1enAuse sold today At SIC per Il. .0oa oH fo1
xa,es between bani1. Al tbs counter, rA.e3 CON
true 1t psr ceiling and 1.1o discount b1y1ng.
| The Manager Of the C.ezEiDg ao1te furut1ne.
| 1ne following SUMMARY OF tie business ol hll
! emca fot TIM meek ending TepyQ3fy a6;