, 1870-08-03
MONETARY AND COMMERCIAL,
MONETARY.

MONETARY.
r7,. TrHpAY, Aug.q,
., ane recent arrest Of pcrrons who were
~ u1u G .n oe e1 porting specie from France in-
10 e'efmany. and the popular excitement
against The German bankers Of Paris. Who sre
xuspected Of doing the eame thing, shows
tna the tendency OF specie ts to leave that
country aud that the French Government in
aemelE netsous about it. There was a
that the Bank OF Franco will suenand snac;a
payment 1he enormous sum Of ss5s, {}pl an
OF specie nov held by the Bank Of France a
tnm at.ont equal to Ill the epccie in tbc N,nr
g e. England 81. nd al u tho United
to leave but small cause for annrehc,;1;n1 nv.
Suspension OF specie payments, hut tho A.
Ienses OF war would eoon cat a ]srVe hnla n
that accumulation, aud If the goyerufncnt
ssa snosae issue rape. money At ali, even # il
% Fmnce Igesos6e tHs ss.. IN slec'e Il the Bank Of
present tendency Of specie to dow on, of
france. tendency Witch il the mo q marksJ
ei'nrsE because Ftaure has moro rpec;,e sh,n
any other country in the world. e'
II as worthy OF noiice that british conao1s
quotation, while United s;tatoa sos unir de-.
d,net ot per cent. The cre.ter flfmness
n Cnited Ststcn bonds shows that IN Tho
even. OF England becoming involved in tho
war, her capitalists ws,u!! think. like those in
,'efnaaHy, tina. Enitc1 Statca Lontls were a
Lesset lhfeetment than the bon1~ OF their ovn
governments, being tEe obligations Of debtor
ot greater Resources. anil not alfvc.ed tv iha
contingencies of tho war
40 country cvtr had a better pro.nect of
getting .ich' Than the West and South hive
=. . ttsnt' @ Not only arc the crops OF tread
t'rendstufls tie war in Europe makes nncas
1ss al.oFe what coa!tl possibly be expected
otherwise. for such large rufrlus ~ we have
10 export. but the prosperity that results
from large crops and 4 goai ronsumptiye de-
maud IL not confined to TITO Weet aud South.
The following from the san Frnnci.co Ruls1;.
rho"s th.t throughout California the grain
c1oIs will !se better than WA cxp.stei: '0n
!aaw-!T+ IS, MI acre ranch li4tle. yields 10
l'1she1- to the acre, and wheat IL mp 10 the
nreraSe-say Abou. 80 bushc1s- From Los
Angeles. the nther extreme Of tho
Stale, dispatches report good crops; and tic
santa 1,srhara Times says that the crora are
more than IN tveFsgo in tho entire county,
com going ~ high ~ 1tkI to 120 bushels to tho
acre Il is certain that tho State will have a
farmers arc realizing better prices than they
could set last year-" A. far As thecotton crop
If concerned, il the disturbance ut peaceflI
industry IN Europe does denress tho price OF
cotton it will. 1t least, discourage the culture
Of Cotton in countries where it vas unnatural
=
the supply from the Southern States during
tho rebellion, and this would result in giving
the Southern States ouco more the control Of
TIC cotton supply Of the world.
The r11morthat lrusria would plsce loan
u}.on tie market to the amount OF Isl, ,o00.019
thalefs caused 4 depression IN tue price Ut
United States bonds in l.erlm md In New
York, and, rs it WAS argued that this would
necessarily send good many Of our bonds
home for sale, and go absorb good deal OF
sur1'lus capital ia bouds that would otherwise
ha i. 9yeatment 9'. ia rali~ay stocks, the effect
Let Tie probable effect Of the plac-
luS of such loan upon the market
Seems. however, to be ever estimated; 150,-
lp;ooe y only the equivalent of @10a, ,00o, 900,
and foreign capital finds It convenient
securities now i: il not prob
alle that tile negotiation Of sloo,0oo,-
tAA OF l'r7ls1ian Becuritrs would crowd uauy
United States bouds out Of that country Az
icr III" sunnr that Prussia will tax United
states sesu11tler in order to drive capital into
taking Ler own less deslratlo loan.
abstract question Of right to tax, Prussia
would. OF conrac, have the right 10 ta1 the
property q! her cit'xrna in any form OF invest
Ment, but IN the present peculiar position OF
Ln!tea States ina1ccs depending ~ they do
:" largely upon Gcrnan capilaI, n1,y tli.crim-
mating tax OIL Cnitesl States l,uutls wouli le
~! nutE7ca'liy act toward the uuited States
WHICH Prussia would scarcely undertake. in lcr
present position.
TIC uliet important fcaturo in tho local
lnnicy market IL the continuance uf shipments
CT cuErrly to tt,t country Tile a:n.,ll,.sa go
isT 1,'t arc no, large yet, lat they are con~il-
era y III c1cees OF thu-e coming III. al uricrs
LOT more are coming fun Alnlt1st eyery wheat
1altinG section OF the country This iu lieatct,
that tie tectil,ts Ut wheat will ic INCREASED
within a week by the Erain OF tie nex erop,
1h1cla viii, probably. coule lorsartl ulucllrno7e
promptly than during the past two years.
t'resent prices arc fair, all1 everybo ly knows
IT; at lcaet Iio ulIc e1Isesta any great aIyaace
a!,oro Present G:s:irer, unless tho European
war should silu.7 rT.rT,tact OF being greatly
llrottacted. or of extending to 1sussi1 On
the otller hanj, il tho w2s should suddenly
cnme 10 q c1ost, PRICES OF E're1tlstufrs woulI
decline This view Of the caso will iuiuce the
marketing uf t1lu nea cro,, promptly.
:. Money continues moderately cAas, and ali |
Grs-clasa borrowers GIT what accommodations I
they ak for without difficulty.
Exchange waA lnure plenty to-day, and sold |
betweel, pallkA It par. At the countor, hank !
ers sell at LILO premium and buy at LILO dis
pol1,t.
lie manipulation Of the telegrapllic quota
lions received in tllis city frnni Liverpool il |
exciting good deal Of indignation amonc
hanke1s aud grim traders. Yester,Iay corn
derlued III Liverpool from :s3s per quarter to |
S's CT, but. strangely enough, the tissue ra-
l'cr quotat ous nade il first BIS I'd, then 3GsG Cd,
and uas m.s1uotation Was kept up ali day yos-
tsstiay and only corrt tctsi this evening after
iAe daily circulars wore printed
The following quotatlons for gold in Now
1ofl and securities in London, were reeeirel |
ly DaIYAtt j. March.