, 1870-02-26
MONETARY.
FhIplf EVENING, Feb. Is.

7
M 1nns,,on OF further watering Of the present
,yetes naole cu,rercy shown thAt thclo iB SUNG
COZ mon ettse left IL ope house Of CooRfels. toe
ridiculous 80 oOooou thnA:tou tcsalutloa IN s9e
Home a few days ago, which Vas The meana Q!
sux out this resolution Of ths Senate, eau aosd'
Iy &c expsalrsd upon any other hJp3thes3 tnao
tha. those y ho voted Tor It Anew that the ls'uc
| Of rzo,e gteenoacks would be-sccorctng to tho |
,sta DECISION II the Supreme Coaf- !
| ,uezsl, AID, therefore, not psaclcAole'
| eus voted for tho tes7laton 10 tne
| interest OF the gold speculatots, ana "ata tne
intention Of sustaining tho price OF Rold IRON tae
lA1l which haA peeu RI pe1ienced s!uce, and Wh cn
txas nor difficult to 500 wAs comlng. 1;is pos
sh1e ttat eeai1e $50 to htAd o6 the SHERMAN
currency bill, Which had passed tho eenases anu
| Will 3et come up in tho House. may have had
| ,oue,n,pg to do with the passage Of the Lough-
ridge rcaciusiou; hut, at any rate, the action Of
[ ,ne uoCtc on that resolut.on has put tho C1em-
be1s ppon 1ece1d Is = parcel OF political nuGhugs
who hare advocated Eessoro tbts waa IN
| duecs opposition 70 tho real inter-
etfe Of the country as large IN soe
present position and prospects Of tha price OF
! gold, tie tendency OF t3c lekitiua:c business OF
the country Il, in the Language Of The senate' ITO
eetsc onwn upon safe acd permanent bass'
| Of coltI ya1uee. The prtcesa Is pAluiol one. and
viii Iecetsas1ly cause lassts to many: but II Con
crees viii tske the necessary Actlon On the caf-
| fercy question, providing for the retirement ol
The 3fEEEb8CEa &Hu tuG II " A4a44tNQ
the Sssol nj BaLE c,rca ION. 50 that the county
! | can have ~ much currency ~ II Gu Use,
tnree losses and this depression Of
| brs,reas viii rct hare to b endured feeond
/ ,tuLe but Il CorgIess adjo1rns and lea'es tho
cur1ercJ last there It u nov, 1t Is possible Sclo
= rnsy 20 up again rc1t tunnet, a1a neat !A a.o
winter. when We have surplus OF products 10 e1-
e merit ,nts whole 1u1teT and ecliCe vi be repeat"
ID. IN when case We should ba I'D nearer epeSie
na,nerts then than ne ate 70 oay, and 5es more
| ID, ses ana nore depression Ct legitimate bosoes'
would have II suited irom the ups ard downs o.
pnld 3han would be expetie- II Congress soooit
~ At orce authorize the Withdrawal OF greeuaact
i'd IL Iusdiug them into ~ Or i Pc
I'd crnt tpuds to be used Us easi
or National Ratk c'rcutHt!on to b
n vtped to new oarkn without regard to auy llns
10 The total volume In e1rtsesce. II CdDgres
| would do this, the Douaens!csl talk about IN
p nsceAstfy for more currency would cesse, an
the ceelite IN the pr7ce Of gold wnlcn has lee
txrer,erced IN the saat four months would be pei
natcnt AID Its had et1ects no: hate 10 be endure
again: o;ne1une, 6nalcta viii be IA tae asue uI
tet,ed co1d1.ion this tine next year that thef af
ne row, -.....-..-..,-.&
70 The NOS. important element in determining tt
~ atcro In the pslec Of gold durrg the pAat 10
al. | Konth1 has been the heavy exports o! co:to'
o. hs has been greater than even the most isngutt
en-. had exsec.ed Orc or liz months ago. The Cf-p
ssa 1o1 conceded By the ost coIstrEtise su'nof't
~ | 10 have teen 100000 ba'ea VI ms anou
there have cen exp1rted from al The po1ts' TO
The beginning Of The "cotton year" on sen:e1
Der i. M to February ~, l,e4o.i98 ba'ek agsin
.na ts $50 bales dur1r TIE period Ct lass yea
]; IL Ia est:uatx that not over sso,eo9 OF see.t
Ehs bales ~tl be required cut Of the cFop lot no.
~. ~ | coreuuptson; this woula leave. ray 2,le"se
Iii bates for export. Of Eh!cn nvll &c seen shas'
1y 1ne elx months s!1ce september l. 1oss aooat o:
mp half has peen exported, leaving the other naf
sstf be t1ro1ted out,rE ane remaining Elk months
III septeu;tef |, ls.A TIE to:al exports OF colt
Az ttcu Septt inter- !, lsGS TO September l, Is
Of were st rnelnIre oye1 ls5d0o3 nAiea, and The
y ue4 aeoye inoK that Ne Io: only nAfe nea
,rit ELF million Isles Eo1e satp.cs
a exro1tstion shls ytar than latt but taas oo's o
led na,t Of II eas goee. mud that the lnc1eed void
inc Lf cat1ou exports thus fat viii b Ga:nlaa:
,n1 rnt;l tse Few crop Of cotton cosEes H. Toe
1n yaue Of the e1c.ts o: exports OF cotton his
over l,.t will be 1t least faAoao,tee, or eQuA
:Een three-torr,hs Of tho total tpec'e e&nosta oi
tooa ,..t cs]ertas Year. Ii must be apparent II
M ,hese tsc,s that tie chances for any revival o
500. htay{ sxpors OF specie - usual during the s.
cEf- ner s1e rot 1A7osAale, and a an1 permanent
oose r.ren nboye the pretezt Price Of
cnn. nenendA almost exclusively On
tor = ,ev,ysl Of exposp, VIII oe
with thas a .ne oo.omsre.l cnerstiors upoa h
y ~ r,,ce fer ro,o or even At Al Low ~ average
a.1l7. do not 1tard In 4 safe position. Tne
r,.l .,tuatcn II critical, hcd nAJ develop
laaon more unfayoEable reatuzes any Eeek- Ine
ee ee y. yms importing merchants, ~ well as the +
nof. rod speculators, arc known to hare oeen ne
him en- Tho lull s.de cf gold ever atnec tt was II
Eyen II It ehcrld TOT decline much more
nc .nou,d remain WHERE II il for month. thelS
viii causo failures and increase tae Reue1A
TO the t.r.s that pezy&dea oua.Le!e nov.
'go o1 Tbs 1ccal morey nafkes continues Auos
~. y, chtrred. Tnc ecrsud fcf noncJ Is aetse
tnsu, the p1nla are accomnod odArrR al seEp1at Gu
he1 Of er1 without dim e1lsJ, and Eome Of Inc oank
anstn9 prepared 10 take rnors nttt-etass paper NJ
Rse III on.,ed. The pr1c,pal feature Of the mHke
. effect IL The scarcity OF cur1cccT. Orders ston .ne
detanT tty tot currency hare lEcfeated, andlcaung
~ mam H., c1ested nov. mint in grain. ard soma
smssed bat are as ain ordering eaIre1cJ nom Ne'
TO uotet the country demstd-
lno paa Exchange WAS irregular, but weake1 Ia
3o 'o' te1d&y, With tales To-day between aatss ~
&c to sl.co Ter 81 ,too OF. At the coonseE, D
chsrsc- tell at par. ard eu, nj lilo th.
- vile, Sales 1t the Stock BoR,d to.day were:
: bleet fhstes Meict An,s' Insnr1nee Company.
FttAuon Is shstes Cay National BANK tex disl.-...-
lnct.up; 80. ~A9s ~40 ~1-1' ~
r1dewell A19 8'@oe' c,r.~., n,,r.,,
o$Hs. hjA
eesan nntn United States 81 1881. -. us