, 1873-08-02
MONEY AND COMMERCE
MONETARY.

MONETARY.
Fn1pAY EVENING, Aug. l, 1879.
With most OF tho hanks thoro is scarcely any
eorcoptible ollnngo in tho current OF b,lsinnBs.
a fow report rati,or moro activity In monthly
sottlomonta, but thoy produce scarcely ripple
Oh tho surface OF tho general dulnoss. OF
course this state Of things will not laat beyond
couple Of woekB, for therc eau Hcarcoly be a
doubt TINT tho largo resorvos tho banks lavo
boon accu'nulating will oil be NODDED for tho fall
trade. RatcH OF discount arc without ohan0e,
viz: 10 por cent; but lowor figures might bo
obtained On short tiuic parcels Of gt-odgo paper.
Tho demand and supply Of exchange appears
to bo about balanced. Par to 25o por $1,000
are still tho current ratos between
banks, and par to 1-10 premium selling. 1'hs
largo Bhipments Of grain aud produce must lii d
1ew weoks turn ratos In favor Of buyers.
Tho banks gladly tako from customers all the
Legitimate papcr that ofrcrs. Frst-claHs real
estate paper soon to mature would also bo road
ny discounted; but most OF theao Boouritics ind
nnrchaaers on tile etreet, through the nota-
brokers. Fricca range all tho way from 1D2
per cont por month with commissions.
BMELTrNG.
Our n1tiolo OF yesterday urging tho Importance
OF tho smelling business upon the attention Of
our citizens, wo aro glad to find, is properly
supplemented today by proposal from Dr..
blaney, tho distinguished chemist Of our city,
and DR.. Brown, of Wisconsin, to establish q
chemical md miniug-school in Chicago. Their
arrangements aro not yet completed,
but VIC hopo to notice tho opening
Of tho Bchool at an early day. AL wc
noed IL honest and thoroughly competent mon to
manage tho businoss, to mako Chicago tho rivs',
If not tho equal, Of her slHtor on tho Pacific
Coast in Hmolttng aud dealing in mines and the
precious mosnlB. Tho minos Of Colorado and,
ns soon as tho Northern Pacific Railway ia COM
pletod, those of Montana as we'll, should all be
controlled in this city, and tho orc and crado
bullion Of tho Utah mineH should also find its
market aud be reduced hero. The orcs from tho
Emma aud the Mauo now arc all purchased by
Adam Smith Co., and VIC ought to havo estab-
lislmonts that could roduso tho product OF MI
tho mines cast Of Novada This great source Of
immense fortunes naturally concentrates nil its
golden streams in this city. With integrity,
thorough knowledge, careful economy, and nn.
bending onorgy, great fortunes cau be made
here IN this business within tho next few years.
Wo hear also that tho establishment Of q gold
oank Is talked of; and in some banks tho pro.
Roaai @ 70 u Lksop al or most Of thoir resorvo funds
tho loss Of interest Of the larger value Of tho ro
serve In speculative greonbacks would bo moro
than made up by tho higher financial standing
spolioy would Give the bank tlat adopts It,
IN connection with tho above, we @hcnrd tho
project OF a branch mint discussed by no means
for tho 1rst time in this city. OF COURSE TIL
business aro roalized, TINT cannot bo expected.
Tho San Francisco miut coins moro than twice
as much spoeic Is TINT in Philadelphia. aud, fu,-
probable aB it may now appear, we should not be
surprised to Zoo tho Same true Of a mint ogtal-
lBhcd in this CITY.
:. Tho IMPORTANCE OF competition among through
iines or khlpnent cannot bo .oTerostimased. A
TOW, TOW Tooka TO- ago 40 600 buah9ls Of wheat Yere
Scotia propollers with return freigh We hear
the cargo was delivered on time in Liverpool,
and VIC trust it will bo followed by large and
regular shipmentB. The Quaker City is welcome
Boston. Portland, and Montroal will together
givc New York lively race for tho trade Of tho
West. Wo are sorry to hear. from what wo sup-
Pose reliable SOURCE that it. Is likely to require
to tho list. Tho prospect Of completing tho
Baltimore Il Cheago Railway before that timc il
nor bright. Bad for Baltimore sho ought to
hurry mp ler old couch and securo her shnre Of
tllo rich trado Of tho West.
0HAEdERs w. RAILROADS.
Without lndorsing a1l the sentiments Of tho
following article from tho Christian Ui!iou We
ers. Only o few yoars ago tho great anxiety OF
oil our people was to induce capitalists to build
railways. While nll just cause Of complaint
should be promptly suppressed BY law If necea-
ways as to stop tho building Of them where they
are really ueeded
II the " GranRors or Prtrons OF Husbandryn-that
wonderful agricultural secrot society which ia sprea
fore-woula conane themselves to ''hl,abaudry rthey
would 1t Least 10 dealing With aomething they Under
they make tho mistakes natura to tho explorers Of
new teld. For the Changers, in their protests, have
because thoy are incapablo, for want of commercial
training Of taanS IN al tie points Of financial aaes
aud they do not care to open them. =
One Of tler most bitter complaints ia that through
freight IL carried ut lower rates than 1ocathAt ofeu
Y costs little moro to travel long distance than to
1avel abort opu.
grieynnce IIe thiuks It hard that the farmer half way
beween Chicago and the Mississippi should have 70
olo srsr weo az far f. M
ha ent the bank Of tho great river Ho argues that
the railroads ean garry freight 2o9 miles for 8
ent 4 comes to vory different thing-svhich shan
neishlor bought the Tor sl.5o hut Il ths Only
might probably triumph over loys Of tasee Iet "
consider hoy tho pro rata theory for The railroads will
Tbs roads found that with their tracks ks,,t In
Tepar - is necessary for their local business they
and transport them 10 Chicago for-et lss say. ny w
OF argnment,-&2 per tom and they 1nake theraby
ehr small nSen mo no 70 oIcas5oe @
IN the state Of 1inois per cent Il IL to be noted
hen e aoa ha1 r. snSy 1na n 5mn fI sana a e
onse for The whole distance. Yet tho pro raa law
compel tho road to carry freight taien On for half
dozen miles, at Just o. low ratio this through"
through raea to tile same percentage charged locally
snd by 90 doing drive int other channels of