, 1870-06-16

1le Eola value o. 1ota1 exports lnclhutnB
specie during the nino months Was $685.. .9o0,-
GOO, and the gold vnlUe Of total imports was
es39, ,304, 1856, Showing balnnce in favor Of
the United States OF s., ,03G, all At the close of
March There hare been times since March
when the showing VAS probably even more
favorable for the United States, but it Was
while cotton was going out at the rate Of fifty
now the export movement OF cotton is recently
declined to about one-third of that Soume1
The House Of Representatives has at length
passed currency bill, which is compromise
between al The schemes that hive been agi-
tated for some months past, and yet is unlike
any Of them IN ita ultimate effect. II the tcle-
Grapk> gives the whole scope Of the bill as
passed, It provides for 895, ,00O, 600 increase in
the National Bank circulation, and the retire
ment Of $4,000 900 Of per cents, now held
to practical increase Of $4,000, 900 in the
total amount Of currency in existence, and, in
this peint, is 1itoral compliance (though not
in spirst) with the Longh1ldge resolution OF
some months ago. But the s95, 900, ono OF new
National Bank circulation would require tho
backs from circulation to bo h,d as
crease Of currency in circnlation would
be from s28, ,0O0, ,0Q0 to 430, 900, 900. Tha Cur
rency bill, as it was passed by tho Senate about
three months ago. provided for an increase of
tirement Of $1,000, 600 Of 8 per cont cortlt-
Gates. This was, in fact, contraction to the
extent Of the reserve Of about t20, ,000, 900 that
would be required against the additional bank
currency hut IN escape from the contraction
vas offered in the provision to authorize free
national banks On a specie basia: Congress,
however, by this time, understands that the
people arc opposed to contraction, mud it is,
therefore, not improbable that this bill, which
is compromise between tho Senate Currency
bill and the Loughridge resolution, may pass.
II is, however, at best but temporizing OK
pedient, which stops Hho1t Of the benefits that
would result from free banking, and throws
away the opportunity OF aiding the ro-fuhdipg
Of the debt at per cent,
The local money market continues very ac-
tive, and good many OF the banks find it
difficult to accommodate all their regular CUE
TONERS. There il al active demand from
grain spectators who arc selling for July de-
CARY until then. Tie difference between
CASH and seller July is enough to pay a
good profit, il tho good condition OF grain
bought now for July delivery can bo relied on,
and Of which there seems no particular
grounds for doubt at present. The large
amount Of grain in store here, and now being
carried BY the banke, and the continued draln
of currency to the country to pay for more,
are sufficient reasonH for money being tight.
Country orders for currency were liberal
again to dny; and though bankers have been
calculating every day for tho last two weeks
that they should not be obliged to order any
more currency from New York, each days e1-
/ petieuea has upset their calculations, and they
are obliged TO order every day from New York
, yet.
Exchange sold at from SOC to 81 90 per 81, 900
OF between banks to-day. At the counter,
bankers sell at par and buy st S1,o0 to S1.50
per 81 900 OF.
At thn 2torE Ro,11 o,1na %fara.