, 1873-03-01
MONEY AND COMMERCE.
MONETARY.

NONE TARY. i.
=: FRIDAY EvssrSo, Fob %.
In tho local market, money continues TO work
sloso, but all borrowers for legitimate tratlo plr-
poses get money Without difficulty. There nro
hoavy 9hipnontA Of boga to tho Enatorn mntkots
now, and thtB makoa an abundant supply Of OK,
cldhgy+ Weatctn. merchants haso NOW Fomittod
tho Erest bulk Of tho futeda to pny thnfr tndobt-
cduesa for ptirohaaos Of. gooda nando lust fall,
and tho daueud for oxohango hhn consequently
falten of. worry largely, and por1nlta tho funds
I.do against sa3' S3'pmons ,san 70 accumulate loro
81 900 discount, bolng h docino Of 26o from, tho
pridoa Of . day or twc aEo.
In tho open ma..ket tho supply OF money is
Increasing 1 ana rates Of discount arc softonins,
yot. Money 'ls freely offered on oollatorals Of
local etoot:a at 10 to u percent. Primo businosa
papor he >4la at 1}l por cent ror month.
TILE U.soREAsE OF SAVINGS DEPOSITS IN THE UNITED
"a. ETATEs.
The recent reports Of tho superintondonte OF
rho Bank Departments OF the eltato Of Now York
aud Of tho Now England Statos furnish mattor
for thought In respect Of the enormous increaso
e sasss sate ess e Ng Yaas Yas the s 1T
inga deposited on jan. /, 1868, was ~ ,429,-
s4ssssd 2 sss Sassa isse 5sn T. h'o ,s7s 10,
1s7s; ID s2s9, ,o1. Tka ssssssste I hss tiers.
fore doubled at tho rato OF. onco oyory seven
years.. IN Massachusetts, tho aggregate Of saw.
1ngs deposits was $18 401 800 IN 1852 $50, OLA
fs and sa} s1ai i 4 o aei; olese Of ls7s Tho
amount thus doubled IN tho eight. years from
1868 to 1866, doubled again in tho fonr years
from 1865 to 1879, and n tho two years from tho
sate that woaaid doublo dot tliem il four yosrs. TAe
aggregate bavings deposits of Tho state Of CALI
1ofnls rero s7,605, ,062 at tho close Of 1896,
s1ss9s, e 2s9 IL 1877. s29; "a ;7ea 1a0 IN 1899, snd
asa "a + IL 'e no yssfs o go5 ths' 70 s hSy
donhlod again In the two years from 1867
to 1869, md bavo Just about doubled again
in the: ntte; moro thnn :.three md q hah
At the oioso Of 1868 tho aggregate savings do.
Posits Of New York State and Tho Now England
htatea wore ealo 49,, ,922. At tho close Of 1871
they were $3.50, ,2so, ,a45, and from tho letost On
aetss, and New York we estimate the aggregate
amount In tho Now England Staten and New York
State at ao50, ,o00, 900, showing that thoy have
doubled in the laHt four years. The aggregate
esea a 81 oo q Wick slS 90 II al ohiss
60, but tho aggregate amount Of savings in tho
State has doubled in, two ycara. From tho ag-
nres tE given above snd from approximate data for
tho aggregate amount Of ;uavinga aepos.
its In tho United States is over 81, ,0j0 100000,
Or double what thoy were hyo yoera ago, and
nesf double M the Haggregate of indi,dqsl 90;
sssssses. which waa only selo, ,2eo,ooo in October
The remarkable increase Of savlnga deposits
naturally suggests tho inquiry as to whether
ebO0 900 900 Of tho profits Of labor by tho oaases
OF which Savings dopoBttoro arc usually COM
posed, In tho last nve years. Superintendent
Howell, ct the Stats Of New York, commenting
port thht considerable share Of tho total do
postB is not the earnings Of labor, but that cap
ital- also has beeh attracted By tho safety and
profit Afforded BY thoao institutions In consid-
ernhte .eu1nB and In much larger propor-
tson thnn wha the caso in former years.
But, eyon II We estimate that ono-quarter or ono
third Of tho incresse in flvo yosra Is duo to tho
souross intimetad BY Mr.. Howol, we hayo atm
have been accumulated, and by tho agency Of tho
Aavtngs bRnka made nvailab1o for use in tho COM
snerc'aA money markets Of tho United States BY
loans tn real estate, and On National, State, and
Hveyoars. When VIC consider Also that il tho
aame five years We hare marketed about 81 ,000,-
600 900 ct tho san1o class OF securities in Europe,
and that during thoHa five yoare no have had q
SSrog9ss Ct y ha Wv % Il
this vsst amount Of available funds thrown
4nto thc money market from oil these aonrcos, 1t
es to whother tho continued etrlngency Of money
in the United Staten docs not furnish evidences
OF . conditionTo things that Is gradually work.
aug W plVAuGe CI1Sld IN our uQRuClal hlTalrB,
TIE P1oPo8ED AMENDMENT TO THE BANKRUPT
It is now denied that the President has affixed
hts signature to the amondnent to the Bank
suPt Law, Of which We printed . copy In this
column OF VuE TRIBUNE Of this morning.
There IL Understood to be considerable excite
ment among tho creditor claaa In tho
Eaathin 6thtes about the effects Of tho
amendment 1t 1t becomes law. Tho
Baltimore and Philadelptia aud other boarda
Ct trade, as Hell as Messrs. 4. r. Stewart, 81. B..
C1ahin i Co., E. s. Jahfrey 4 Co., George II.
Stuart, and other wall buatnead men, on
tered thoir earnest protest against the signaturo
Of tho bill By: the rreaidont. The matter wan
referred by the President to the Attorney~Gon-
eral, who has given permission to argue tho
case. The amendment not only allows the State
exemptions, but allows them aB against all liens,
no matter whom or how acquired, "a we'll as
against debts contracted before 1tB passage, tho
deoision Of my court to tho contrary notwith
standing. The following table, carefully pre-
pared by Mr. Luoius L. Lanier, of Baltimore,
Tor the National Board OF TrndB, whose E1ecu-
tive Committee has just I'D dJournad, is decidedly
valuable, bearing directly upon tho important
eubject now At issue hero, and good for refer
ence 1T all times:
In addition to the $500 allowed under the ankrupt Bsct
Real FIR. Dank
estate, property. aet: Total.
Maine. soo sl'eoo ooo ssoo oo sage eSo
Veruaont 800 800 500 1850
Massachusetts,. 300 100 900 $500
Rhode Island. 2a0 900 $50
Torn k4crf