, 1873-02-06
MONEY And COMMERCE.
MONETARY.


NEDHfBDAf EVENING, EGD. D.
Some Of tho bsnkH report money llttlo oasior
to-day. though II II not general, and VIC sre In
olinod to think 1t Ia only tho effout OF tho ohang
ing OF balances from ono bank to anott,or in tho
Socont hcnvy nettlon,onts Incident to tho hcgin-
ming at thia month III tho country tributary to
this centro, money appears to DO getting tighter
nsoad Of onBiar, rs wo learn OF numerous applt-
cationo from country bauAs for accommodation
to enable then, TO carry tllo grain that ia coming
in freely and acoum11ating Mt tho secondary
cties md towns Of tho grain districts. Tho de-
1nnntls OF the rork.pnchora, howovor, aro dtrnin'
isillng, which enables tho banks l,oro to moot
ths applications Of their country correspondents.
Exchange ID ateatly at Ito per 81 300 discount
notwithstanding tho progress toward GEO III Tito
European money marhct1. stringct,cy prevails
yet iu Now York. To>iay's quotations show
that loans to carry stocks over to tomorrow
were mado at tho rato Of 10 por cont pcr annur,
viz, per cont loyal intorcat mud thirty.sccond
of i por cont per day added for 'premlu,n," or
"con,n,iasions." We hsvc It on reliable author
ity that, some weehB ago, In Now York. tho
paper Of some Az wealthy corporations as thore
gro In Pennsylvania and Now York sold at ratea
sanging from ~ TO per cent per month.
the 5~20s OF 1862.
There are nov 1851, 600 Of tho 5-2o bonds Of
1869 outstanding. II the Syndicate is s1cccBa-
fuf in selling the whole $500, ,00d. 600 Of now D
per cents, re- they probably win DO, tho wllole Of
the 6-20 bonds Of 1869 will either be exchange d
or called in for redemption within the next a.x
months. II no other bonds than tho 5-20s Of
1864 ere voluntarily offorod for exchange at pnr
for tho ueu q par oenta, then tho Secretary Of
the Treasury will 10 obliged 10 call in @99, ,92o GOO
OF the 520s Of 1864. o. those there arc 571
eSou SO 0tsaeaf one Or sro s rossssfe ssS ao" .nd
probably more than ono-half Of the whole
amount Of 5-20s Of 1864 arc heldin this country.
The 1s62s, however, are known TO bs largely hcld
Of the Wvhols $,267t t2s9, 400 arc rogiatored. The
proportion Of registered bonds doea mt, Of
course. indicate tho nrnount hold in tho United
States, but It affords q Clue to tho proporttnu
clary agents gonorallS. We conoludo,, there-
fore, that the tuajority Of tho 1869 are held in
Europe, nnd TINT the movement Of funds from
there to this country in payment for the non. o
Her cents, and tho mosomspt back 1n pay ior tho
Ance in the prlcea OF atorlng exchange aud
Sold.ss .-..s
auE PROPOSED ISSUE OF MORE SYNDICATE norDs.
Tho discussions in the Sonate yesterday on tho
Bherman bill for specie roautnption show that
Senstora Thurman aud BayarI make The came
point against 1t that Was made in this column On
the day nfter tho bill was reported, viz: that
giving the SecrotnTy authority to fe-iaBuo the
ErcenbackB after they had boon funded into s
per cent bonds was giving him unlimited au-
aho1ity to increase tho public debt. Tho text Of
Senator sterman'a hill reaJs: And the sec-
1etary OF tho Treasury may re-issue tho United
6tatoB notes 80 received, or If they are cali
celledt may i7aue United Staten notes to the
Same amount, oithor to purchase Or redeem the
public debt. or 1noot tho current payments for
the public aerviceh."
u this is \ correct copy Of tbat part Of Soma
tor shcrsnan'a bill, Us va hare every reason to
believe it Ii, there is no question but It gives
The Secretary authority to koop the whole 1885,
200, 900 Of greenbacks always outstanding. At
the sanae tino, the arst section Of the bill gives
him unlimited authority to iperaaae the interest
bearing debt, by the iaHuo OF per cent bonds
For Eenatora Sherman and Buckingham to deny
this, ID to deny solf~oyident proposition
The whole bill, and tho arguments o!
its advocates. look like preconcertod
plan to give tito Secretary authority to isaut
aoro per cent bonda to carry on hia Syndicate
plan OF operations, which nrc likely to como K
an end when the presont 100000, 600 Of new
per conts have been marketed. 1t looks also al
though Senators Sherman and buckingham, do
ponding on the general ignorance of Congress
had determined to carry their project by . boil
denial Of tho real intent and purpose Of tho bill
It their real object WAS to fund the Eroenbacks i
might be done for az per cent as we'll An 8, bu
Ak per cent would not ansWer for syndicating
nothing 1eaR than per cent mill do for that 70
kWhie.
LOCAL sTooK AND BOND stAnKET.
MnAsra limit nrnatnn r. Kear ntrnta AZ fn!1nNt