, 1873-03-29
MONEY AND COM MERGE.
MON ETARY.

Fn1DAY EVENING, March 2Ss
Tho dotnantl for Now York exchange, and also
for ourronoy increases from day: to day, tntlica-
ting that heavy rernittauccs hro being n1ado by
Wcatorn moroha1lta to Easforn creditors, h'n
that preparations for moro activo moyomont OF
grain from tho hnuds Of country holdors aro bo-
ing made. Exchange Is now ncaroo at Zoo por
$1,000 premium hero, and in I'LL other Wostern
citos tho prico s rising, showing that tho movo-
Ia comparatively oaay In thiB market yot, but tho
tendency Is toward a oloscr market, and as 1t will
DO montl, yot before Hhipn1onta Of
nako any increase in. tho sup-
\ ply OF o1chnngo, tho prospects are
in favor OF tighter III oncy market next month.
situation givon In o,,r article Of yoaterday l,as
sot many pooplo to thinking OF tho Developments
. likoly to grow out Of tho prasout complications
IN national fnAnoca mud foreign trade this Bprng
The movement Of tho Bank Of England against
American railroad loans already shows It's effects
money markot. wlore money was loaned to-day
ut the ratio ot 80 per cont per annn1n. Gold also
was stronger, and continues to advance stoadily.
own right (oxclusivo Of the amount hold
against gold cortiilcates) hgatuBt IN average Of
975, ,o00, 900 (oxcusivo Of gold corttfcatGy) held
during tho frat three months of 1879. This de-
croaae Of over a30000000 quot 519, 900, 900 as on
error Of tho typos mado ua say yesterday) ahowg
that gold has bcon drainod out Of tho country at
n rats that may well eot people to thinking aa to
.what is to be tho effect OIL tho currency, espo-
niatlywhon 1t isronlemborea TINT tho prospective
deficiency In cotton exports this spring, together
with tho advance III the rnte OF discount by the
Bank of England, bids fair to mako oven n nauoh
heavier expectation Of gold this spring and
summer.
Tho London Ne,os Of tho 11th (snonoy articlo)
According to tho latest advicoa money con-
tnuos to DO gomewhat Hcatce III tho Gorman
money mnrkets, aud the minimum discount rate
In Berlin and Frankfort is still 911 to por cont
With regard to tho advance OF ror cont in tho
Interest allowed On French Treasury bonds, It is
explained that this advance has had aomething
to do with tho recont choclt to tho riBo in French
funds. Tho bonds at tho rates now offered COM
pete with rontes, and tho borrowed money by
which tho latter rocoves tho support Of spocu-
aative operatora is also attractol away. It Is
expected that aa coon az tho The Treasury r @sn
600, is replenished, aud provision made
rate Of interest on tho obligations Of the Treas
ury will DO reduced. Another Important itom
the Mint will resumo tho gold coinage, which
han been suspended during Tho lust two yearu.'
Coupled with tho reports which aro In circulation
to the effect that specie payments will shortly bo
resumed In Franco, tho announcements points to
some financial changes Of magnitude which will
olosoly affect our money marriott. The changes
to be expected, moreover, will work In opposite
directions. In addition to tho German, wo shall
have French demand for gold, but tho e1rcct
may be compensated by tho foloaae Of tho boards
Of Fronoh gold, which VIII DO the result Of the
resumption, and especially by tho possibility OF
i aceesB to tho storos in the Bank Of France,
should any sudden and strong demand for gold
arfBe."
zocAr. grocE AND bond MARKET.