, 1873-02-01
u,UNET AMY,v;UMM MERGE
MONETARY.

Inquiry hb 4 large number OF banks In thts
city nhowa that tho demand for money is fully aa
active as 1t has boon at any time for tho init
month, and that on tho whole thoro ss no appre-
oiab1o inorcaso In tho supply OF loanAblo 1n'a"s.
The greateat part Of tho domand from pork
oaokere ia probably oyor, but thnro aro atill
pooa many heavy borrowers In the market III
that line Of btsinosa. Tho necessity for bank
capital to carry grain In Htoro Is nlso increasing,
and no loar Of banks at Winona and othor
Northwestern points applying for accommo-
tlationH horo to help them carry tho Increasing !
stocks of wloat tint aro now accumulaling rsp-
ldly Ut thoso places preparatory to coming for
ward to tlsg city na soon as TRANSPORTATION cau
bo had. Wheat iB represented IA now coming In
TO tho Northwestern towup. az rapidly as at any
timc laat fall, and 1t eeoms probable tho demand
for bank capital tr. curry It until 1t can 50 for
ward to the E0.t will keep money tight horo for
some time y.ot.
In thc, opon n,arkot primo commercial papor
eela at ~ per cont per month.
t.. stew York e.chnngo eolls at TIC por @1,ooo
to go to tho co1ntry.
On tho 12th Of Dccenbor tho Bank Of Eng
izfsd reduced Its ratio OF discount from por
tent to ~ pcr cent? on Jan. 20 from ~ to por
cont, md on Jan. 30 from por cent to 90 por
cent. TheBe successive reductions IN tie ratoof
tntoreHt In tho great money contro Of tho cont
tnorcial world arc significant OF n restoration Of
confidence and moro abundant nnpply Of
Enelish consols 4 ok for lilo last month"; shows
that English capital, that ulost Bonnitiye barome-
tor Of tho political atmosphere Of Europe, feels
no promonitons OF any collision with Russia on
aspect Of finances in London ii favorable to the
plans Of t1la Syndicate and NJ t1te now bonda
ahat will DO marketed ip >Eurol6 will DO cent
thoro md r marketed m hG1ore e%y Of tho honde to
country, It IL probable that exports OF gold from
this country T"il decrease, and tho price OF gold
be temporarily depressed In tho course Of tho
next mc;nth. DUE aside from the proposed opcr-
ators Of tho Syndicate, tho price Of goldia likely
todeclin9ns result Of tho Increased export Of
a1l ottef kinds Of American aocuritea that willbe
dra5tn to tue London market ~ tho low prico Of
nonoy thoro. unloss something now unfore-
6een should interrupt this tendency Of financial
affaira, 1t must mako money much .ensier in
american markets. before tho end Of February.
cngo and the Northwest tlore ID special 1ocal
cause for strngoucy, in the fact that no have no
ADEQUATE mcans Of sending the produce Of tho
country to tho consumers n III tho Eastorn htntoa
freight ombargo this winter llas heqn tllo same
es II tho distance between, tho Northweat aud
the Atlantic soaboard inaA boon increased q
thonband miles sinee. tsst fall.
hA1lRoAD4 Ia rupLru HIGHWAYS.
Ine sue8ea; ton naade in this column OF The
InInuaE oT> tho a2d, that railroads heing public
nlgaWAse1, in the theory OF the lnw, should bo
rDs soeE eoSsnas SHOULD H. b. ss sopea to
Gun trainB over these highways subject to
reasonable regulations as to timo and speed, and
npon tho payment Of q legal rate Of toll per cor
ger mile, aennla to meet the yiowa OF many
thoughtful pooplo as ono Of the means Of relief
fror tho present embargo on tho movement Of
western products to market. It is well-eatal-
llshed fact that tho amount of rolling stock
In the United States is deficient, aud that this
dcaciency is tho chief cause OF tho present
freight embargo. II tho railroad companies
moro tem tbn
sF1th thoir present rolling atook, they lnyo nc
excuse for preventing private companies, who
have the money and Would furnish tic cars, from
running running trains ovor t4eir roads. The toll.
would pay the owners Of the roads all tho prof
they would DO entitled to for tha uso Of thei
tfeoks, and yet would not abridge the RAILROAD
oompsz1os' privilege of running their o1Tn train
CONGRESSIONAL a1TaT1F1cAT1oN OF pLAlE TOPICS
The persistenca with which Congress tries t
arrive at objects by crooked paths instead 0
.nd palmer, is rcally marvellous. Tho Hons
Qommitteo OF Banking and Currency, and til.
Senate Financial Committee, waste their time i
seRGo;rtin3 s;G ;f toollah hla for specie resumption
hheso @ questions W @ with pompoua ignorance tha
ss Ss.e s Ss' sds + upon the people ha
That tho p1atnost business man may not under
stand. II Congress really wants to pass a la
Ehat will bring uH to specie payments wit1on
hurting anybody and at tho same time insure VI
Al the currency VIC can use, lot 1t rcmoye til
limit from tho aggregate amount ct Nationa
Bank circulation, aud at tho aaina time euae
ahat greoubaoks ehall be receivable for 20 pc
cent Of the c,1atoma duties, and that oil groor
backs so received shall DO cancelled, destroyed
burned Mp, and mona issuod again in thoi
place. Il Congress will do this aud thel
let the subjects Of currency an
Specie resumption alone, ne should get along VIC
enough. Specie resumption would come of 4
self in tho course OF year or two. It woul
come gradually, and would hurt nobody. Bu
AZ rnle, Congressman are humbugs, and 1t
scarcely to DO expected that as body thoy nj
enact anything 40 direct aud sensible.
LOCAL STOCK AND noNp MAREEr.
Measrs. Lunt, Preston g. Kean quote al tolloV
this afternoon:
Nuyiny, Seltif
p-1uh .! 11's'.t... *!l4%a -
DUB u oA.t.. ana 44o
b-2Vs OF b5. .ll5l3 l4o
b-21s Of 'G5, Jan. and July, e1. t.11414 III
b-20s of 'G7, Jun. md july OK. Int .11GI lit
b-20B Of t8, Jan. md July, ex. Int .116ti III
1U-4Vn 11e
2. 8: 81 {new isduel .:..::........114I III