, 1873-08-20
MONEY AND COMMERCE
MONETARY.


TuEapAr EVENING, Aug. 10.
There WAS largo incroaso In tho country Do
manda for currency to-tny, coming from almost
bsory section OF tho Northwest, aud particularly
from Contral and Northorn Iowa. Tho pressure
to sell exchange to got tho currency 10 moot
those orders causod deolno In tho lrsco OF ox-
change from 25o por $1,000 discount yestoranv
to Goo per $1,000 discount to-day. About
o'clock exchange could not bo sold npch bettor
than 75o por $1,000 discount, and somo Of tho
banks having tho largest country ordora wero
contemplating ordering currency from Now York,
There is little doubt that tloy will DO obliEo to
90 80 wathsh d day OR two at faytAess.
Ih's sudden demand for capital to move tho
crops md tho hoavy receipts Of wheat which,
Wn' probably result from II in tho course of tho
no1s three woeks, aro Indicative Of Tho change
TO creator activity that will soon tako plnco tn
sne money market and fluctuations that will bo
experienced In tho prioos Of grain. Everything
seenls to inaicate tint we aro on tho owe Of
very active fall h,.sIncgs,
honey 1s, however,, atilt vory abundant In this
mafkot for ahort-timo loans, Lut tho banks aro
statndous'y avoiding long engagements. In Now
1of6. aa "o lehrn from parties just returned from
shofo, tito fear Of very stringent monoy mar
aetthia fall anl winter aoems In great measure
TO. have passed away, for tho worry reason
pairing for II to such au extent. Tie banks
tAofe, and also throughout tho country, nro
much stronger than at this time last year Tho
Tact that thore have been 30 fow fai1urea during
merchants has been 30 unsatisfactory. iuBtIfios
tho Inference that now, with tho berinninu of
moro actlvo trade, tho financial condition OF Tho
mercantile mere m community 9, will not only continue
The aspects OF foreign trado nre unusually good.
lhe volume OF exports Of domestic products is
!ar in .cScess Of last yenr, and bid fair
% continue 90. at tho Same time tic
Of uI,.roe ei ara aofegm gooas ana especially
ssaae n the o1ohaugc OF products Is ip favor Of
me United States. and The price OF atesliue ax-
Change iB low enough to Indicate that money is
accnmulattpg IN this country.
FREE BANKINo PROSPECTS,
ine lntmatlon given In our Washington t7tB-
advocated IN the next Congrosa is no news Il
H. w. oai aafstood 1 that tho banking capital Of
9o0 reliasribution clause Of tho law of
9n1y, 1870. which takes s25, 600, 900 Of
circulation from banks In tho Eastern States and
gu distributes II among tho banks In tho West shall
% carried into effocs, that thore shall bo an
Increase r. OF the aggregate volume of National
nank currency; 40 an to Rivo tho West its fair !
proportion m Of tho National Bank monopoly. Tho
s"1s Hc"otGIy tdat II lB q monopoly ia sufficient |
eeason that i should be abolished, and banking |
aado Tree" Ia ot}tor words, that tho rentrics
none on the aggregate volume Of National hank |
slfcniatlon bho1d bo removed The foars Of in |
nation o1 tho currency from the removal OF these
restrictions aro gronndlosH. Tho mora Nations |
Il Bank notes thoro arc issued tho
more diaproportionato tic volume ~
legal tondors viii he to make nominal
rcdemptlons, md The moro bankers would be-
nbllgod to prepare for redcmptione in some-
shlnE elso than greenbacks. The National
banks IN their capacity OF isBuers Of currency
~ 10 most Important agency in tho return
W specie Raymontat II wo over accomplish that
reform. The 5000, 600, 900 Of capital Of the Na.
sonal Banks would bo pledged to tho sustaipinn
Of the currency at par with gold, and the noarlv
S.ooo National Danhs in the United States would |
constitute that many agencies for the accumula-
tion OF specie to hold aB rosarvcs.
GREAT souRCE8 OF GRAIN SUPPLY.
~ our 1sHuo Of this morning {Aug. 10) wo |
printed SOME tlgures intended to show The relo-
i've proportions OF wheat and corn iu tic four
producing States cast OF tho Rocky h1ou1ltains.
ara az 20 SHOW tho mlch creator Importance to the
west OF 9 rise OF tho same amount nor bushol
on corn than on wheat, but, by al. error Of tho
corn gaH printed wheat" Wo therefore prin}
The table again, with samo additional etos}atIcs
showing the relative Importance OF tile orops OF
y ehcae four States to tho rcst OF the United
StRtes, and Of the cereal crops Of tho United
States to those Of other countries
ffom tho Ninth Census, Which gives an approx-
lmatlon to tho amount Of each Nhoat and corr,
on Aand and IN elo growing crop in tle summer
Of lb1o. We collato the following statistics Of the
relative quantities Of wheat aud corn in tho four
States: Wv ~"