, 1870-02-28
MONETARY AND COMMERCIAL


SATURDAY EFKS1S8, rep. ~
The most Important events OF tho week 10 aoau-
cla, Affairs have been the resolution Of the Seo-
atc against any tpnAtion Ct the present irre-
dcemrb'e currency, aud the large decline IN gold.
The dfst OF these two events puts a quetus upon
sny further ruEors about istu:ag more creer-
backs. being started for the purpose OF oossertu9
np the prize Of gold, and consequently OF currency
p1.ces generally. Tie tecocd shows that gold Is
dec.in.rg from more Legitimate au,f permanent !
causes tnau any tna, have Affected It for several
,eefp Tnose who 1a.1er themselves thst this de- |
ele Is only one Of The ugrA speculative |
raids from which 1t viii react, aod CAVITY cur |
repcy rr1ces up With H. viii probably be mistaken
When a depression IN its price IA caused BY |
spt u.a..op, It goes down suddenly and sharply,
tu. the following c'oaitg prices on Saturday Of
cach week during the current month show taasi
ha4 been steadily sagEIg Gown against all the
etorts OF the New Yo1k ppeculators 10 keep Il up
Z: Eeo1na1y :, 1906; FeoruAEJ Il, 1f9'tt Fab
raa15 10, 119; Fcatusry &c, 11d. In Jes:srdATa
Tkl6rSE We gave the stat1sttcs OF the cotton crop
ard cotton exports up 10 the present tine, show.
lua that the value Of n cotton EXPORTS durtcg
this year over lt year, viii be aboo! tqudlfo A'ts-
frur,hs Of the ,Otai txtprts y sNeie from
This colptr1 daring the lsss Tear. Thts Is ~ In.
roftan1 fact and shows the improoaoaty OF there
| bell a, eueh revival Of gold e1pottA tnIlng TIE
| spr!lR ~ has been utusl during pAst Jeals, AID
the corstqten, proaaniltts ina: It's rstce VII! 80
| even lower tnAn II Is E0&s III WHICH esels ~ n
PLAIN that ali curret CT prices Cous follow II toonef
or Later. TEES far IN the decline 10 gold, tae prices
| Of StcciH, securities goods, grain. aud prod7css
ger orally have been sustained By the frmness o.
| holders who, hav1rS become accustomed. dar1oe
| The past ttIee JeAtr, 10 see gold satse eAcG
i1cm AL it, n1c.ua:!o1A 70 N average
O! about 1so, have believed thas
IT would yet reac: 10 so1eit.rz sp2so1inaiag
tfat price, bat when .heJ oseone Convinced tna!
alowtr average rrce has been established toF
gold, rrces OF ~ commodities are likely 70 expo.
relce As eucden cec;tDe Us IL sno.n IN the god
r.suiuu tn:s week as eompA1ed 10 the three pte-
cedIR reeks.
TIE money market hiss ruled moderately easJ
| All the week. Da1ks have been able 10 h:comno-
ca.e eL rtt.clAss cui ito1efs. aud some banks hAve
been prepared 70 tate more ntst-ctass paper
tnao WAS ocered, but The Ets1a'i3n o.
tie produce markets does not WARRANT legitimate
J t1nd,ng and shipping. Tho mott Of the Sadtng u
, | IN opror8, which do rot call &asge Amooat Of
noney Into active use, and the chiet denaod nov
eon.s IRON parties who arc Borrowing to pay Oh
rgauors falling due. -..---..-...z-..
currency has been sea1oer this week than last
srd orc nts been sent tn.o the country, oaliR1ns
: teye,al OF the nanks to order cuErercy from SeH
q Yo1t, bat to dag country orders arc Light ant
: cuYrtnc3 more plenty. .....---..
. Exchange sold to-day at sc per 900 on 10
\ ssleS between banks ~ the couosef, fs.ea con
1 trre 1t psr selling and lilo discount bayuE.
The MArsger Of The Clesrcg House fotnlsne.
| The following eumnAry Of tho buhne&s Of 4.
e | .w.A sor .hn aet srdlrr FNbfu&f1 81.