The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1873-07-12

Finance and Trade.

- ~sSsSsySs $500"
tion among capitalists just now. as
to the pr0babls course Of The
Money market during the Autum,
and the fact that there 10. an all
but universal disposition 70 grant
long loans, even at comparatively
good rates, would seem to indicate
that extreme figures are expected
by money lenders. A proximase
solution Of this financial problem
wosld - very desirable, inasmuch
- the % hrse OF the market must
have an important bearing upon
the Fall trade. The Spring trade
resulted ,llsastronaly to msoy bus
mess intssssts, owing mainly to
the unprecspented money pressure
and what happened In the Spring
10 just no likely to hsrpen in the
Fsl', uplrss some effective means
be adopted to deprive the specula-
tive stock rings and cliques Of their
power to control the Money mar
kst. Precisely how this might be
accomplished it Ia difficult to tell,
though the business cIassss can do
much tow ards solving tho problem,
BY Withholding their patronage from
oil barks thsl may be Known to
cooperate va - pay into the
bands Of these Sre culatots. Aside
from eliqses and rings, however,
there ere unqnestionahly some
weigkty reasons whieh favor the
theory 81 lult rstes Tor nosey dur
ing We Aasop: Tho have sone-
thiag to do with the Nod volume
Of ourrsney = conpsrsla Vito the
growth Of population and business.
But they hsvc sill more 70 do With
49, ~
the increasing demand Tor money
for persoan.n ut invesimest, end the
rapidly With which Aoa.isg cspitsl
10 being converted iste, fixed
property, sach a. railsesds, ninee,
telaefaphs, houses. stores. facso-
ries, aad other works needed to
seosmnodaGsa population aud bust
ness, to ssy nething Of the heavy
Withdrawal Of fuads from the great
osntsrs Of trade for crop moving
purposes. The rates OF interest,
must always depend chiefly rp-
On The avail able supply Of such
6oatingcr unemployed capital q
compared with the current requir.
ments for permanent conversions.
In this country, where 90 much il
vet to be done in the wsy OF devel-
opment aad real estate Improve
mente, the rstio of sbsorpston is
probably greater than the ratio Of
Of reproduction OF capital |; yet the
rstes can never 60 higher than the
point ct which capital may be
probably employed, and this limi,
owing tossari0us 'eaase5, haS 81.
ready hesa reached 10 msny cases
And besides, the check which over.
trading has lately received, in con
nection with the Influx Of aforei q.
capitatfor permanent Investment,
may materially change the aspect
Of the Auium Money market Full
rates are likely 20 prevail, bu
those lenders who count upon
repetition Of the Spring seaso.
may find they have miscalcsiated
General trade has ssttisd down 4
the ususl Summer dnllness, end
quiet state Of af5sir6 NOR BE loot
ed for during the next sixty days
According TO . dispatch frou
San Frascisco the incoming W hea
crop Of California, though not Q,
large - last year, will nevertheless
be fair average. @
Connections has abolished he
usuryi laws, hut certain saving,
banks have raised the rate Of ia
terest to aheight which throws on
careful and email borrowers Il
favor OF spectators. and thos'
Who give large intersst With
deairabas security. This has re
suited in An extrxvaesnce in anoth
er direction. + is nov proposed
: to compel these institutions 70 LOAF
Just threH fourths Ut their. fund.
upon reai estate. Everybody know
that nsury 1s~s are aiwags evad
ed, and that speaking broadly
they are ineficient awe 10 causin,
illegal and i'm moral contfacts. bu
II taking advantage Of free trad
In money, saving institutions los
large sums ct high rates uro
doubtful security, Il 10 nstural, ne
TO say right, that the Leeislatu1
should intervene Ia behalf Of de
positors. 80 gass
After the expiration OF the cur
rent calender year, the Englis
sovereign. or pound stsflina, Wi
be counted in exehan4 q o., SO
instead OF 4,S4, ito prasent lvalu
su>hn Ar.k & Al,A@leNAt GA ace