, 1870-04-11
MONETARY AND COMMERCIAL,
MONETARY,

BATuRDAH ETEusa, April g.
An unfs7orsble feAturefFss impaired 70 tho
action Of the Canadian Parliament tn estab-
lishing tariff Of Csc per batTpl On -four, 4c
per buahel on wheat, and Sc per bushel on
other grains- While this will not present the
transportation OF grain md -four through Can
ada in bond, it el1 subject it to some onerous
psive Western shippers Of the option. which
those who have shipped BY that route have
had, OF selling At Montreal, and other Cana
dian ports, when they found it 10 their adran-
tage 10 do SO. A it Il uoth improbable that
this will have some effect to depreea prices Of
oh sToanee md oa ' tie 9sst n1lff III hsas sas
one moro practical illustration of the
beauties of protection and be nhown tho ne
ceseity OF urging tha renewal Of the Rectpfoci-
r. Treaty, By which Ill such products were I'D
mitted FREQ.
Du4ineas continues dull and.nnsat;sfactory
generally. The low prices Of grain, in whieh
there is no immediate prospect Of any change
Or rthe better the threatened contraction Of tie
currency, which would be the result Of the
passage Of the Funding bill, md the unsettled
condition Of the price Of gold, 1hich h.s l.sely
make people 60 extremely cautious that they
are afraid TO do ANYTHING. We do not believe
the Funding bill will pass. 1t Is too apparent
that the consequence would be commercial
crlais, TO believe that Congress will adopt
measure that has been Hhown to be 30
Of the present National DAnk monopoly OF cir
culation has inspired the use Of tho most un-
ecrnpulu1s means and Arguments TO get it
passed (as, for instance, the circulation Of the
false reports in regard to the National Banks
Of St. Louis faForillg the bill, and the pro-
iic Credit act). The influence which the pres
| ent aspect Of the Funding bill has to dcprces
! trade il, however, likely to be removed within
/ d week or two, when the bill is either defeated
entirelv, or slse 70 much changed NJ to de-
prive It Of all effect on The currency. In the
other Influences which now depress trade, there
is not much prospect OF Improvement The
| enormous stock of wheat here, and every
| wbere else in the world, forbids tho hope Of
any considerable advance, except ~ it may be
made By an advance In the price Of gold.
We are now approaching tho season when
Over thtee-hlths Of orr annual export Of gold
has, in past yeaFa, been mAde betFeeu the
first OF May and the first Of AuSust. Thus far,
our enormous exports OF cotton. petzoleuus,
md breadstuns hare mAde Tho last year An e1-
cepton to previous years. but il the export OF
next month, the rise in its price would show
that the appreciation in tho value Of green.
backs had been in great measure fictitious,
and II Congress does not adopt some policy
looking to their redemption In srtcie, renew.
Al Of tie fluctuations Of gold may be expected
Money il in fair supply, and owing to the
very light dcuAnd for looms from the naYcsn-
ti1c part Of the community, the banks havt
more than they find customers for: But
while deposits of business men generally have
been increasing, the grain dea1ezn hare becz
heavy borrowers, and, should there be a re-
neval Of the demand for money in other quar-
sets, the market would become stringent.
Exchange continues acarre, and sells BE-
MUM. Some shipments Of currency to New
York continue to be made BY banks who cAa
not supply themselves with e1chancs a les:
than currency shipping zatea-
The Manager Of the Clearing House fur
nishea the following summary Of tho huhlness
Of his Office for tho week ending April o.: