, 1870-02-02
MONETARY AND COMMERCIAL.
MONETARY.

The Cuyre1cy bill reported pJ Nj, Sherman from
the Finance Committee Of the Saua:e, continues
to be the subject Of DISCUSSION. and the Senate con-
tiluea TO j2og'e and to amend and tinker IT. prop
osl,ors to redt5ts1hnte Tho National Bank clrcu-
thttop, az though this were the most Important
pont In The currency quettlon tastesd Of being, IN
reality, the uos! untmportant The sensrors
seem to hare diE1ded thtntelTes into champions
Of the kunt<Ts Of the EAstefn States, On the one
SIDE, and Of the Southern and Wettero S.ases On
the ether, and the struggle seena 70 be as to
which set OF tdntx7s shall hare the m0at tuera-
tive patrotage from tie government This
would al be well euough.as secondary rroposI-
ton, Int, as undue prominence . being given 70
1t, ST. ns the Vita question OF how to place the
currency upon tourd basis II thrown entirely In
the SHADE, the Senate Eesms 70 be wasting It's
time In q tq1ahble about tie rela1ye proflu Of
bapker1 Ia different eecttons Of the county. So
lar the really important points OF the proposed
Currency bill haFe been di.culsed, they show
that tho Senate IL GRADUALLY coming around to an
urder1taI ding Of the importance Of the prppoal-
ton to change tho proportions Of the
g,eenhzcks and thel National Bank noies
ey withdrawing tho FORMER and authorizing
the tncIe9aeof Tbs lEtter thus oollztnR the bsnks
to make rrpgress toward Bpecte redemption. The
ono great ohstAclt, however, to the adoption Of
any financial measure iu this direction. Is the
great difference Of opinion a. to how much
ncscaAc Of National BANK circulation, and CORE
spending withdrawal Of greeubacks, ought TO hs
authorized. The bill under consideration aet8 the
amount Of Increase Of National Bank no.es 1t
y4agea zoo, Senator Morton xAnta 1t I'll 900 900,
senator Chlndler wauts 1t stoo. .oeo,oto. Senator
SUMNER WANTS 1t sec. 0.o0c, ,ooa The same atgu-
Inenls which the advocates Of each Of these prop
| 1slIions advances 10 provo that there would
Ire 20 dntger Of tn1at1on from Al In
| crease Of National Bsnk currency to each
OF these resptctlya buountt,-uroE1ded the
tncrenee OF Nk'iona1 Bsnt notes was made contn-
sent upon the ability OF the government to with.
| draw and cancel = corresponding 1mou1t Of
| SreetbaciA-woald also hold good to
prpye that the removal OF all Legal
| ltuls to the bank circulation would be
| perfectly Eaie. II, At tbs aane time, tho h41k1
1erc tcqni1cd to accept their circulation en- the
bass u1 ~ per cent Of The gold vAlus Of the tonds
a. reautrec n thst ece:tou at Senator Shermau'a
bill which autho1tres free h.uklng on specie
| na1,s there could be no Reasonable doubt abort
tho soundness OF the bank currency, nor about itl
rrpsress toward just such specie bass n he At
! Temps 10 provide for IN the last section OF hi
bill. While Mr. Sherman. Currency bill has mauy
RESTRICTIONS and requiem that arc guperhuou1
ald could with advantage be dlJpeused with, II
woulc, Il adopted, inaugorata change ths1
would certainly be an Improvement on the prs
| sent condition Of to progleas 1t all aud II Coz
I
10 paEh 1t wunid 1t least prepare the way for :
more perfect sJstern Of banking IN the f1ture ane
would csrablsh the precedent Of retiring the t,re
| deenable government currency, which 10 the chile
obatsele TO anJ proefeRs Of the present bAol
cu1rercy toward redemption In spec.e-
The monty market continues 10 work very close
The receipts Of hogs have been 80 liberal, ant
have kept up 10 much above what VA
| expected, thA. It has created yesT de
cided call for bank DISQUALIFICATION Il
ca1sy the stock on the ua1ket, Aud thos
hanks that have the most cus.ouers IN tnat lin
OF business cNi money "ltsht" Otherwise thu
| th1s, however, there does not seem to be AuJthtn
to create atringeneS. Money u now 70 ahuodan
in New YoIk that II the banks here shonld e1pe.
ence any general increase Of demands for accoE
nocasion they could etslly get large ted!acouut
from thelt correspondents thereL For the pas
! ten Gays tho banks here have been diminishing
| thctr tedlfcounts In New York, and the sgEresat
Is rpoablY now Is per cent fess than 1t the dat
| OF the recent report Of the National D2nt1- S
; thai, Notwithstanding Sons hare apprehension
Of E,r!ngency, ne do no. see reason to expect
except as It may he produced very temporarily b
| The country demand for currency.
literally to-day, and for the present the shipment
to rntcs their demands a1e IL exce1s Of the tnou
from metchanSa' collections.
Exchange was lower today, owing to thu Il
c1eazed demand fH cut1enc1. snd eales wes
made between bAnts Ut IRON s1c 10 &c per 81 ,ot
d4couut. At tho counter bA1kc75 lel, general.
i ut par, and take Ut lilo discount
Sales u the Stock Board. to-day, were: