, 1873-05-06
MONEY And COMMERCE.
MONETARY.


MONDAY EVENING, May :.
Thcro is s.tll sharp tlomaud for money Mt tho
banks an, nprticu,ar1v nj auoh bauks aB lnvo
t.~.. ,,.as - 1922, aoo,,n,a 1,t In ucuoral tho
sa'bo "no' " B4".A assous'' ~" -. .ssaar..af,,o,
local money MARKET aaeha 70 n ~ plossoaa1s ~
eald Of New York and other Ea1torn markets,
.na ,,,tl, I'm disappoarauco Of tho extromo
"!'n .,.a.a ~ t,,o tbooriata bavc coaaed, for n
atFinsehoy 1nela ,ue 1a.aa Ill, ns, ~,
for It In tho "doAcioncy OF currency " anu other
similar uonsonso. Thero wero in fact no Causes
for Tho recent atrfnucnoy. e1ccpt tbc loss of
rsnfta, n tho noaton and Chicago f,rea, and in
tho tnnnslon OF rallfoau stooRs'
Exchange WAS weak to-day. and ao1d botweon
banks at par and ut 600 per 81 900 Discount.
The tlon,and from tho country for currency to
move tho grain crops Is 1hcfoe'lus slo"y.
WHAT IS THE ACTUAL DETERIORATION IN TIE
VALUE OF anEENBaogs2
Thnro Ia n clana of cloaet- -fnancicrs to whom
n,,,. - ~ ,..,,1,, =, ,,rro,,cr In H., Ar
tno a"eh'1on u VIZ PUPPY " s =. ~
hcult PUEBLO tnas they arc eoa''l1aa1l5 mah'ns
public athtemonts Of qneor ofoteAets anoat
it. Thoro would, porhaps, DO but little
Of Of I tho = mon ' who aszort some Of tho
wildost yagaries about currency, and attempt to
maintaln thonl by argumon.p, nro 1nen whose
poajtIoua giyo their opinions an influence not
Inn fHn6f 10 fhnfF a a
{or ipstauGso. s % Prot. (. t. Perry Of Williams Gol
io1e, reitoratod in i Now York paper his state
meent et that tho real depreciation of greenbacks is
about 20 por cant Instead Of is with gold 1t,
nay, III. Prot. Perry arrived at ibis conclusion
rcnntrv v ara On }he ayarsre. 10 nor cont higher
+h.n thov wnro hefnro ii,c vnr but In nvnr-
looked tIo fact tint tho increase Of taxation
since tho var adds 1t least 20 por cont to the
ynnoroi avcraco ~ nrIcen.
mt nnw cnTnox Mr An1aaa Walker. Of Nfassa-
chnsntta' a,d IN a rocont sroocl to tho nor
nhants of Han Franoisco. mikes siu,ilar arg,-
mont to tho ofYeot that:
The parer monsy Of tho country is worth for domos-
tio scs that s for tho erection OF buildings the
ufactaro or purchase Of hou,o commodities, not
than 90 or 6S eeuts On the dollar dnaeaa of differ
sne ~ many sg9 o. or - Per 'np 20
6nns so,a sent eA0 - '0' AZ "
1t ia bsoa,lso tho Secretary Of tic Treasury has
hcen niaSinc Tho boar ia thb rold market for tic
iast fnnr ye9rs i TINT rrnenbacko appear to DO
only Is per cont discount whom they aro really
ment ct ali. but is simply assertion, and cannot
hn mainiained by sny cogent reasoning. The
real depreciation of graonlacka ia just what It
apposrs to 10, and mon occupying positions like
nof prof Parry and hIr. Wclkor do much harm
hy confue;nc The public mind with statomontB
which soem TO DO matlo tor tho express purpose
~ tIn;iing snmn abstract and ohpci,ro nH,1ua for
thngs s mSieh so ars easily eaplaned I BY apparent
gs sng rnossiho a Ma'A Thoro a. IN 40 fact ht ono
stsnd.r " naImoa II tho woorl1 ants +bot atans
i3ard is cola coin: Nj nther yainos. whether OF
rnnmod7t;na nr croiita arn mnns,,rod hv It. md
crnanhacks nr,c in now;sa nj oYcontjon to tho
s,in r. 10 ~ Woitor osuorto rrsonIs clTa nro
srort,, nntv "a r. * oonta ~, ,ta dollnr in tha
i1omcatio oxclansoa NJ tho country. ha mnat
1naasnrc t1,c;r va'mc hv amnn nthsr standard
tInn no1i orS ,ra tK;nS Il -ro,1d n1,y11o
f,;m, - NV 1rhnt @1,;o ,ow .tar1nrI 10
Allm " Say VIM tAls noW e"suualu H.
Tho value OF groenDackH, however, la 1uct0at-
ing, and in tho trade tranHnotlonH OF this conn-
trY mon do make bome allowance in prices to
cover tie range of those tluotuatioue But this
ia cnnnarnt;veiv ama|i md nfYnr}a m cxn1,na-
4;e ~ ~ V,Lar,' -Ir 49,, ara;rar., atotanant
1!on Aot atii "aiaet o@s.auay ~ a e.a.o'.sout s.
~ hTeuMeuLh ABDUL tno cuITeucy, FaoPlo i1uHt
m fA4 n f1na