, 1870-03-02
MONETARY and COMMERCIAL.
MONETARY,

TErxpaY EyEs1Yo, March 1.
Both nouses Of Congress- show tnRt they ate not
'i.apcsed 10 let the currency quest!on alone. The
rtlolu'son propo1ed yesterday, BY Palmer, Of Iowa,
to instruct the Committee OF Bank1nR aud Cur
rency 10 report bill for the authorization Of nee
oankirg comes up for debate next Monday. The
tundlr bill, also, was up be fore the S.nate, and
The Aucuselon on the subject showed = glowing
,lltpos!upn TO authorize system Of 1fee bahllug
On bstis Of bonds bearing from to ~ per cent
interest," lrstead Of and ~ per cant, a. provided
for In The Fuudnk bill Tne views of the Senate
and the Housc on tue currency question are, how
ever, 10 different that II Ii hArdiy to De expected
any banking bill will be agreed upon. The
o11y thing which seems 1oltrab!y certain Is that
thtte will be 60 attempt to lnilate the currency.
Ard Tho only thing which there seeluA even pnss
+ttlttJ Of being agreed upon, A either m iDctease
III NAuon2l Bank calculation, or q removal OF gil
'eRA! limits to the velame Of bank currency, ont.
ID either case, concurrent with c3rrespopdcG
withdrawal OF Gfeenbackt. As either Of toese
Plata, however, wonlo he, IN e1ect, contraction
to the amount Of the rs per cent feserve 70 BE- held
sgantt oil the increase Iu the volume or .3e Sa.
:onal Dank currency, such mea,nres would meet
| with btfluK OPT osltlou Ia the Hoase, n3u the
present prospect Ia that Congress- wul leave the
| currency Just where 1t L.
Cod was nfuer To-day and nearly per cent
| higher ttts afternoon Many arc now. oouo.ieas
ready to say for the huhds1dth u1e curing the
| lsEt tTo motthss thAt 1t has "tpuchtd bottom,f'
AID that it viii recover the lost ground; tu. the
situation u different from any that has been cx-
| retlerced e!lcs gold commanded premium. The
ptfce brcke down from l19 to lis, as It were,
"tiom lts own weight, and there is 10 too Iftsie
confidence In huy permanence Of higher price to
naintAin IT, With every Light E1se, holders wIll
realize, and thus every rise will be the nesas OF
! oICduclog g.ea;ct fail, sooner or lister. The
trce OF eol', 7rom day to day, or eren from
week 10 wetk, would be impossible to gucsz, ou,
.sseemR reasonable, and PROBABLE, that it, cousae
| deFh z tie 1ext two Eo1ths Will continue 10 be
d0FcHkfd.
The local ncreJ market remains aiuos. IN.
cs al grtL The demand for loars nss Increased
tome particularly from the grain dealess; bat, AZ
deposits have be:u 1atber On the increase bankers
:es6y take all The n,ti class psper .lat u offered,
MERCHANTS still report collections In the countrr
oinleut bn: The lncreaslnE receipts Of sraln dur
1ns the last eek +hoF that farmers have come to
shc eocc.uHen to realize, and this fact ought TO
male collections eas.er during the next few
HeEts. The o1dess iron the country for currency
a1e now about equal TO the receipts from
the aame direction, and ihe supply Of currency In
Lis market "a ample.
ExccaIEe VAS 1smeg, AID tnld between banks
to-day At par, 4: The coucte13 BANKERS sel 1t par
and buy at 1-1o dikcount.
The only sale At the Stock Board ta.day y;s5
'hares Republic Insurance Company Al sol, the
olloE!ng hds and ct1e14 for local stocks wese a,so