, 1873-08-03
MONETARY.

money market. The customers Of our largest
banks do not appoar to want any funds, and In
moat OF them doposits and cash means Gro stoadi.
" increasing. Bankors sit In tho1r parlors, with
coats of, roady for work, hut few, 1t any, oppor-
tunitics offer. Tho wheat corner made considor-
able talk for day or two, hut It produced little,
II any, oflcct upon tho financial affairs OF tho
but most Of tho bauAs would shade short gilt
offer.
Exchange in in pretty fair demand, but rates
aro without change, viz: pnr@o299 por ,ono
premiums, to customers, par@l-1o premium.
Most OF tho banks, however,, aou to good dopos-
itors tho year round at par.
In tho Btroot, real estate and othor outside
paper goes at 1@2 por cont discount per month,
with commissions. About all is takcn that offers,
II rates arc satisfactory; usual figures, 1@1A@
fhe Journal Of Commerce reports tho New
York market Oh tho 8tst as follows:
The1e appears to 10 no important increase IN the
speculative demand for money and londofn hna con-.
siderable difficulty In obtaining Tor 81 their
surplus funds ut current ratca Of tntoreas Gall loans
ilehor bons .he prevailing rato. Tue best CONNER
cal Is readily placed at e@7H pes cent por M
mum discount.
STATISTICAL Du1LloN PRODUCT.
From tho journal Of the American Bureau Of
Mines, an able md beautifully y-printod periodi.-
cal, published In this city, tho first numbor Of
which we find upon our table, tako tho follow"
ing article:
Of statis!ca contain. statement, p!operod " the
silver product of lilo country for tho threo years
isicd" From ills stao@sn. i spposrs ia. tho
duct sol 900 IN 1862 500 900 In 1870, md
prosstey correct S IL incFoaso for iao 1865
about rs per cont while tho increase for 1871 over
1se was o1 trs over sr sont o.
sa5sss. s !: !ssst @ sS.. IT, prsaas1on + t5s f.
cllmnx. Nich deposits may indeed ho dscoverea but
VII not DO to rely upon anything @ Of tho KIND a1ia n
oS g Of or "vs
much less will It pay to mike large Investments III I'M
dorgrouna explorai0ns proposed by the patriotic
indeed, rrof Carr Il Right in saying that tho cost
Of mining greatly exceeds the product It you'd DO
pretty to pay md 10 to paying OF tho debt out OF
the profits Of those lines Of business which may 10
rolled upon steadily rcmunorative. There may DO
object in increasing this gold and silver product %
mitch as possible, namely, to dopreeiato tho whole
stock while the country ID rayng on ita debt. but m
that Ingenious expedicnt, ono moro likely to yield
1osg than profit. .......
interesting Local ohanges ia mining Industry in 1860
producing saa, ooo and tlo lator sl4o0o 900. In
Te sSss se no ss
one-inth), and tho lattor t80o0o0 an incroaso Of
ono-myeuth). Dut IN 1871 tho two States changed
placcs tho former only producing 900 q de-
Of one-hfth) and tho fator $22 600 {an n
CREASE of mora than two-hfths>.
It IL estimated that the Increase OF silver IN tho
United sntca has boon about 90 Per cont over 1871 for
tho Inst year and TINT the net silver product Of Utah
reue that figure but tho aatiatics fail to show any
increaso In tho gold product. ....-..
During each Of tho thrco years tho two satos CALI
forum aud Nevada produced mora gold tnn all tho
other States and Territories in which those etals
ncd In 1862 they produced 1876 600 O00 tho rest Of
the country, S25 III 1870 thoy produced $41
the rost Of tho country Sos, 000 In 1871
thoy produced $49 900; tho rest Of tho country
$24,l03,0oo. Thus 1t appears TIM. tho increase Of
Neyna while In tho other States and Territories thoro
has been slight decrcase. THIS fact like that Of tho
very moderate increase In tho total produo tenB to
the conclusion that gold and silver mining has its
best lnyH in tho Unted States, unless rich deposits
should be discovered in hitherto unexrlorod regions,
or our mines worked scicnti1e bnsia aud preaerve
from reckless aud waateful mining, now.
Tho Mining Commissioner docs not state what part
Of tho annuni product Of tho precious metal s gold
Thero ia prevailing iprcaaon that tho Yield OF gold
ia Decreasing quite rapidly while TINT Of silver Ia In
crcasiug. This impression is correct doubtless but
1t would ba interesting to know With some degree Of
ccrtAinty at what ratio thiB change ID taking place.
Bomoling may DO inferred from tho fact TINT Noyada
which produces syer chiefly, Increased her product
Bix md half millions in 1871 while California, which
produces moro gold than silver, sllowa decrease Of
five millions in 1871. This pretty clearly indicates
TINT the change rcfcrrod to Ia tAknR place, bt 1t is
not enough 10 warrant any conciuHlona respecting an
carly chango In the va1uo relation Of gold to silver.