, 1870-03-09

gold would, probably, c!tcalasa TO limited e1teos
ut { per cent premium On HlFer. II
gn1d lh,uld sdyaoce again aoose
1o4 IN g1eenbackk,-tn othet words, II
Ereenbscts anouId depEeciatc below the Ta1oe oi
silver, they would b measured By sEo s:anda1os'
one Of gold and one Of slTeE+ Thk Wop.d doo3t'
less be confuaing; but II would finally compel INC
adoption o. gold ~ te standard aud estsollah tho
cut-ou Of taxing gfeenbact1 1t \ diteoout instesd
Of counting a. DOW by premium on gold. ~
soon ~ this should b done, VIC would bo Oh q
tpecie basis, and uade would be relieved from tna
most confusing element IN connection with the
suspension Of specie payments, ysE-: the chang
ing Of all prtees to aRtee With . nuc'uat1ng soa
fictitious standard Of paper money. tbs aaH
authorizing the i1sue OF the fractional currency
leaves the provisions Tor iu redenp'
uon to the discretion Of the Secretary
Of tho Treasury, only restricting I'll
total Eolume to &so,oeo,coa II. then. Secretary
Boutwell, really ha1 Bpecle resumption u view,
there Is al opportunity for him 10 tsfe the frbt
step In that direction By importing few millions
Of silver from Canada, and announcing that he
will redeem fractional currency In fractional alscr
II, At the ZANE time, the snaA1l bills Of the green
baeIa he gradually Withdrawn and lAfKe denoma-
Ea.ioEs 1tsued IN their place, the necessity for
EHall bills aud fractional money would be the
neara OF establishing spec1e resumption At once
on $40 coo or $50 900 Of our circulation, aud
would eventually be the rneana Of dsa K1ag gold
into circulation.
The talk IN the House OF Representatives about
The Cctr mttee Of Banking ard Currency report
tg btlI for IN Increase Of 80, 600 900 OF green
tacks Ii tie theerest Cannon that could tie IN
vented. ConrresB has alteadJ declared taas there
Shall be no increase Of the debt, and the Supreme
Court has pronounced the tSane Of "legal.teatcc
toes" iu time Of peace 10 be uuco3slku.:ona!,
lie :tscc Of note gttctoacka Il, therefore, out OF
The question.
The local money market continues yery eazy.
There Ia qn.te an active demand from some Of the
produce operators for bank acccmnodN.tou; but
there Is mote conservative class OF basl1ess men
Who dlstrust all investments In 0nmodltte1 In
the present aspect OF the price ot god, and thar
deposits are increasing because they do no: f1ov
how else to place the money safely. Even Il the
decline In gold should stop Wbera 1t ls foF while,
tits lack Of confidence Will. In Ill probability, In
cteate fer some time, "a 1t IL apparent that the
prices CT comn odities In general have not de-
ctEpcd In proportion to the decline Of gold dusing
the lasl TWO months; and the greater part OF the
general decline Of prices is ret TO come.
ia,r to make bu.tness dan until
the nsm basis Of specie IL reached, for even II gold
snould 60 up temporarily no one would have any
confidence tn iis continuance
Tntre Is scarcely any movement Of currency TO
rte couut11 bu', Is the receipts OF gam keep up,
II sldlcates that there Is supply in the country
which ID sufficient TO move the produce, and that
the ta.uest, presssd By heavy ta1es and further
oec,tue In prices, have made mp their mlnda to
| scIL - ...
Exchange waa nrm at par ror sales between
bauss tr-dsy. Attne counter BANKERS aell At fEo1
| p,r to Ito premium, and buy 1t lilo discount,
Sa.e6 at the Stock Board to-day were: