, 1873-08-04
MONEY AND COMMERCE
MONETARY.

The woo!t cloaoH AS II began, OH very dull
money market. THO customers Of our largost
banks TO not apponr to want any funds, md Ill
n,oHt of thom deposits and casl mems nro htcadl-
ly increasing. Dnnhers sit III tllolr rarors, with
conts OF, rcnly for work. hut fow, II my, oppor-
luniteH ofror. THO Nlioat corner nlado oonsllor-
nblo talk for d"y or two but It prodneea little,
'rty. Discount rates are nominal nt III ror cent,
hut noat OF tho banks would shade short gilt
pdgo papor very considerably, did MI opportunity
Exchange III in pretty fair tcmnnd, but ratca
arc without change, via: rar@25o per 81, 600
prcmium; to customers, par@1-10 premium.
Most Of tlo bankH,. however, sol to good dcpos-
TORS tho year rould at par.
paper goes Mt 1@2 per cont discount ror month,
with commissions About all fa taken TINT Offers,
II rates uro satisfactory; usual figures, l@1A@
fTbc Journal of Commerce reports tho New
York markot on Tho 3lst Al follows:
There appears to bo no Important ncrcaso In tho
speculative demand for money, md lendera md con-
eurpls fnnds st current rates Of interest Cali loans
made Upon good securities Mt 34 lcr cent, the
higher being tho prevailing rate The best conmer-
cll paper is readily paeod at CGTI por cent por ALL
uu1n discount.
srAr1sr,uAp BULLION pnonuor.
From tho .Joa,7ldio of tho American Duroau OF
Mines, an ablo and bcautifully-printod portodt-
which VIC find upon our tablo,wo taAo the follow
Ing articles
The ast monthly report Of The washinson bureau
United States Mining Conntssionur, Of tho gold and
eiver product Of tho country for tho three years
1860 to is7l, bosh incave as can be asccr-
duct wns s6l 800 600 tu 1863 fGo,o0o0 in 1870, aud
seo,eo30 600 iii ls7. Surprising these figures 10 10
vas about is cr cen while lie Increase for ISL oycr
1870 was only tribe over per cont. OF course no
certain eenclslon can bo drawn from such insl.
susmiAe, Mt least, That tho production Of the
precious metals III this country has about reached lie
climax. Nich dcposits mny indeed 10 discovered but
making calculations for tho 1ay,nent Of tho public
debit Of our Washington ssatesmcn haso done;
much 1css will It ray to aha large i1vestmena n m
dcrgrounl explorations ns proposed by tho patriotic
indced II rroi Carr IL Fight III saying that tho cost
Of mining greatly exceotH 1h9 product y would pe
erssy sare 10 pay aud 40 10 pass pa o te sbt ont q
The profits Of those li,lcH Of business which may 30
ruled nron ne stcadiiy rsmsrnsra.ye& & There tnsy be
object In increasing tho gold and silver product ga
stocK Wills lis country i ray!ng % s 1ent. nat ~
that Ingenious ospeient as ono moro Likely to yied
:aea thnu profit.
California htoua nrst, hn NoSan SECOND tho former
Rsshsng ha fwo ae nssn nsrS e
t'on tho former producing 81 600 700 ian ncreasc of
pnc-nuh), ANIL tho Inter fG,000 QOO ian increase OF
nno-sevcntl}. But IN 1871 tho two Btntes changed
paccs tho former only producing 900 70 do
oreuao Of onc-nll. aua tho latter s22Sooooo an in-
It iB estimated that tha Increase OF slfvor In tho
United States has been nbot 20 cr cout 1871 for
Tho last year, and that tho net silver product Of Utah
aci Colorado Will, anrng The coming season, fully
reach that hyure but The statistics fail to shuw any
ipc1ease III tho Ep!h product.
Curing each Of thu three yeara the two States CALI
fornia ant Nevada produced mprc gold than all the
other States and Territories III which t,oao metals
mined. In 1860 they produced $3G, 900; tho rcat Of
thn country, SIS 00U0UD III 1870 they produced Sf
100000; tho rest Of tho country $25 900 900. In 1871
they rroiucel ss25o0 900; the rest Of tho country
s2a 1G3 0UO Th,lH it appears Clnt tho increase Of
product has been confined wholly TO California; md
Neva whln In tho other satsa and Territories thsre
has bren slight decrease IhiA fact, ko that Of tho
very moderate increase in the total product tends to
the conclusion that gold and silver mining has seen its
best days In the United Hatea, unesH rich deposits
ehoVd be discovered In hitherto nnexplezed regoua,
minus worked scientific basis, and preserved
+~o1n reckleaa and wABteful mining, as ilOw.
Tho Mining Commissioner does not htnto what part
Of the annual product Of The precious lnctal ts gold.
Ia decreasing quite rapidly while that Of silver Ia III
crcas!pg THIS Impression Is correct, doubtless, bu
It would be Interesting to know with aorne degree ol
certninty ut what rate thia change is takluR place
Eolnahng may le inferred from tho fact TINT Nevnla
which produces silver chiefly, Increased her product
elk ind half millions III 1Si1 while California; which
produces gold than silver, shows dccrra8o O.
live millions hi 1871. This pretty clearly 3ndIcate
that ihe clalgu referred 10 is takn8 place, but 1t Ii
not enough tO warrant any conclusions respecting al
carly clage in the value relation OF gold to silver.
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