, 1873-09-04
MONEY AND COMMERCE


MONETARY.
WEDNESDAY Evrs1Na, sopt, 0.
Tho volume Of currency going to tho country
ID still very large, though tho amount sont ont
to-day WAS considerably smaller than yesterday.
Probably not loau than s1o,0o0,0o0 of currency
havo boon aott from this city into tho country
west and northwest Of hore In tho last throo
Uecks, yot tho receipts and shipments OF grain
hnvo boou 30 largo that tho supply Of funds In
tho Rlapo Of exchange Inns balanced tho outflow
Of currency, and tho depositB Of tho banks
have suffered 10 considerable decrease yot,
During tho last fow days, tho scarcity
Of yoasola Inns caused Ill advance In
froights and dccrcaao OF shipments, aud has
consequently caused MI accumulation Of grain
d!leo closor money market. But large ifoot
OF yeBaclB Is expected by tho close OF this week,
III which case freghts would probably decline,
shipnonts would incrcnao, and the tendency to
tho absorption Of capital fu holding grain hero
would coaBo.
Now York exchange wns still froo1v offered to-
day ut from LILO to X discount, and nearly all
York.
A great improvement is noticeable in tho aB-
poet Of mercantile Affairs III this l'nrt OF tho
country since thrco woeks ago. Tho unusually
prompt movement Of tho grain crorB as soon na
thoy woso fit to market has p'aood a largo
and enabled % th:m to NV % OF IN consiiorabjo ] nor.
tion OF lhoir debts to country merchants, who
have, in turn, boon clearing Oh thoir iudobtei-
ncss to the city merchants. eales Of goods ct
almost every description hayo also increased. It
ia too soon vet for country ner-
chants to lay in tito heaviest pnrt
OF their fall stocks but the rising Of lilo trade ia
grnn, lumber, and other heavy nrticlos, and the
increasing activity in dry goods groceries, oto.,
etc. show TINT tho con1uiorciRl situation 1B unl1-
sually favorable: that evou aireafly m i'm
mo1lao trado is being done in morchandiuo, as
woll as III tho marketing Of agricultural products
recently -iuaucl circular Of tho MercaiiiIlo Agon-
cy OF 0tossrs, Dun, Barlow l. Co.. on Il tho coud-
ton md prospects Of tho fall trado. in which
thoy say
Notwithstanding, however, thie generally favorable
are and have bcrn In the last your or two extending
materially, and that the gross a,nount Of intornnl la
tanrs og u - Gn argor tnan IL was Tire Or ior
yeass aRo. II s se!e moro mt mora evident Ihat,
e too rec!y md ind II eItre1neiv diilcnit to cocct
Tie Mercantile Agency rccorla Indicate fockInu in
Of capital in outstanding ebtu to an ex.ont that can-
not full to render COLLECTIONS dincul and sales made
unsafe' without Judlcious care.
We arc inclined to think that evon since tho
aforementioned circular WAS printed there has
been great improvement in respect to tho
amount OF outstanding it,debtednoss. That I" tho
gross amount OF informal liabilities Ia larger
claimed by .Kcssre. Dun, Barlow & Co.,
ts undoubtedly truo. Ono good rea-
son for It is TINT tho aggregate amount
Of both wealth and trade is Groator than them
tho seven or sight months up to July, merchants
found it almost impossible to prevent tho in
crcase Of credit to their customers in tho coun-
try Farmers had realized but little profit from
their labor Of tho previous yoar and we're unable
cerncd tho condition Of thingsis changing rapid
" for tho better.
u, TAXING wider Wow OF things no should say
that tho abundance Of tho wheat and
porous times and comparatively easy essy
money market in nearly ali parts Of tho
country this winter, It is, Of course possible |
TINT. When tho usual time for ,etringoncy comes,
to some extent erery wintsr@tho Situation may may
be- 6e aggravated BY tho manipnlations Of soma
Wall stroot clique; but it is improbable that
any such gigantic corner II gold as waH predict
ed eo' by t tho Now York papers 4 few weeks ago
could be successfully innnEurated now.
AMERICAN s'i1r-bu1Lp1Na REVIVED.
The New York Joarnaf Of Commerce publish
e. q,, 8n,nghy :, report Of al interview With Mr.
John a'W9 t1a 1;n;tas s st,t,s now the orges shb4i
citnted but tint American builders Of iron ships
can now compete successfully with tho builders
on the Clyde whose iron steamers had driven I
wv Atu6 utucout Nooue4 hn!ps VI ING unltou
States from the Sous during tie war. American
shipwrightH havo, however, boon studying tho |
trado Of tie Clyde and i'm
proving on it. Tho recent riso in the prices Of |
coal and iron in England have helped them, md,
rs an evidence Of the revival Of this important |
branch OF our national industries, It nay be !
mentioned TINT III tile slip-yar1s OF Mr.. Roach |
alone, ,on tho Delaware River, ho is now build |
ing ships TINT, whom completed, would make |
more efficient navy than tho whole presont navy |
g ha 9 wpsa nla s1tes Sa n eghtpea mouths
ton Of tic following vcssos: Two immense
sEtoamera, each 425 feet long, 48 feet
beam, 50 foot depth of hold, spool is |
knots. tonnage 5,000 tons each. Two lust
t.irnished c 5cngth 3oq feet, depth 20, beam 42,