, 1873-10-18
MONEY AND COMM ERCE.
MONETARY.
FRIDAY Ev1.N1N0, Oct, II.

FRIDAY EVENING, Oct II.
Tnote ore rnpldly confirming tho roreshalow-
ingB Of THE TRIBUNE at tho commencement Of
tho crisis. A careful Bnrvoy Of the condition OF
tho Northwest In general md Of our city III pnr
tiounr convinced us that wo woro in u better
position to atand IL, aud that VIC would come out
Of IL stronger md with business iu n honltllior
condition t1la1l any other city eaat or west. Such
jy alroady-or Boon will be-the gratifying result;
aud what Is moro, tho facL is acknowledged by
,,oightoring cities and nj Tho East j,,st ~ well.
The wall we published this morning from tho
st. Louis Globe, mud tho compliments 1t gavo to
Chicago in order to stir up Its slcopy citizens by
wny Of remembrance, woro significant and i'm
portant. 1ruo, st. Louis has moro capital tl,an
Chicago, but III her case Il WIS inhoritod-her
mon don't know how 10 tlso it-whilo Chicago
han mado lor own money, and hor banlors and
busnoas mon know how to Use 1t with all
energy, foresight, and libcralty That hayc made
her tho commercial celtro Of tic Northwest. aud
very soon she will DO tho acknowledged financial
ceutro not only Of the Central states, but IN
fow moro decades Of the onttre Union: Trne,
viii f ae5 a GesS s reg g9 pS nri st of G9n %
Eoreet OIL deposits by Government banks, 80 TINT
Tho money Of tho nation shall not DO attracted
to Wall street to furnish the nleans for tho STU
poaous gWig 81 as Jay uoqh
Independence Of New York. The plain fact Is
that Chicago, and tile vast and toeminB
nouutry tributary to it, do md always can oon-
tribute more valueH to the nation than wo con-
et,me nnd hence wealth as vol aR population
must accumulate hero. Those steady accumula-
tions mako tho financial centroa Of the world.
As betwcon st Louis and Chicago, q para-
graph from tho article wo published from the
MaEess City [Mo.) Times this morning ia worth
sepublishipg hero: ..,....5...
Last week Knusas City bank, that had kent stand
1dg balaucc Of 10000 In st. Louis, wiahed the
sou @ a'fS s salanees CO New New Inc st. Louis BANK
expressed ts inability to do 50, hut after persuasion
G MST to The srsa Of TIC
ESQ. The Kansan City bonk thon teegraphed to Chi
Sage bank with which Il never tept en account, a.k
il Of tho Kansas City bank, which ,ras Immediately
dono, anu premium q 01s dollar charged! q, ii
friend and correspondent in st. Louia would havo
charged $50 for at the anme rate And that too whcn
tie ST. Louis friend had over f50 900 Of the Kansas
City bank's money locked up In It's vaults.
Il Inns boon said that Chicago Inns boen largely
rebuilt on borrowed capital, and tho fact is adj
mitted., But Chicago pays her interest, and l,or
ability to borrow 80 largely shows what implicit
commercial and financial position.
Tako another fact Willie tho banks Of Bos-
ton have been selling exchange on New York ut
3a@l por cont premium, and those Of Baltimore
havo charged ! per cent, Chicago banks
Tho fact shows that cur prodnco-wheat, corn,
and provisions-are going forward IN large
quantities, and that Now York is obliged to place
the funds to our crodit to pay for thom. t was
mentioned in our dispatches from Now York q
few dnys since, tint the merchants Of that
city woro specially pleased with their collections
from Chicago. So far as wo know, oil our nler-
chants aro paying their billa promptly, and this
ia shown iu the active donland for exchange.
Wore it not TINT mercantile bills arc largely
maturing and promptly met, exchange would be
at a discount.
At tho banks, business Ia moving along
smoothly: Customers are accommodated with
a reasonable amount Of discounts but tho de-
aand is not, nil things considered, worry prcsH-
ing. Rate M usual, at 10 per cent and firm.
Exchange is closer. Banks lave not changed
the price 10 customers, viz, par; but most OF
them we're willing to pay that for it, Wo hoard
Of some Offering to buy at ITO off. but, as a
whole, the figure was below tic market.
or street paper little or MONO is offering, and
we hear of no AatoB today.
Tho report for August, anu for eight months
OF tho earnings Of the Union Pacific Railroad
Company, gives the following figures:
Auglst, 1873. dugust, 1877
Earnings, gs,,............ .$837, ,278+2o $7a9, eG7.Gf
Expenscs.. ............... 4Q0, ,94736 S58, 525.6s