, 1873-01-23
MONEY AND COMMERCE..
MONETARY.

WEDNEspAr EVENING, Ian. %.
+ Tho main obstacle to progross toward m oaaIor
hoondition Of lnancos In Tho Went continues 10 DO
tho lack Of facilitios for Tho transportation Of
products to tho East. Thoro wau n bottor sup-
ply of oars to-day than any tlay for woo1t pnst,
and shipments wero worry large :; but It Ia to bo
feared 1t Ia only temporary, as 1t has boon on
nevopM occaulona before. Tho lIboral shipments
OF tho last Two days Witl, howovor, Aolp to re-
Hove tho money market littlo, rs is indicated
by tho increasing supply Of exchange on tho
market. Tho heayioat t1snnnd for cur
<onoy to 60 to tho country is alao
2rogaapay l. EYER, @ and tho roturn OF II from tho
The declne ii tho aggregate deposits Of tho
banks Of this city since tho first Of this month 10
estimated to be not less than 81 000,O ,O00. This ID
mn unusual experience for tho first half Of Jam
Instead Of decreasing. It Bhows that much Of
tho usual domanit for money that comes In De-
cem6cr was this yoar aoferrod until after tho lat
of January.
Exchange sold between banks to.day at 76o to
91 per 81 600 discount.
TILE 6pEc1E RESUMPTION gCHEkE.
Tho vlew taken by many Intelligent mombers
Of Congress of tho Senate Financial Committoe's
the following paragraph from tho woll-known
nnd rolihblo Washington correspondent of tho
Now York Journal Of Co,,t,crco (W. ?. q. ),wllo
Aas hcol circulating freely among, mombors Of
: ion. Ho writcs, "ihe 1obioction to Tic iii
originates upon that part Of tho first Boption
which authorizes tho Issue Of por cent coin
bonds, rcdoonlabloattll option Of theG Government
for log a tentlats which tho Secretary may rele-
sue. Ono Intelligent Congroasman,-a bank
President, who deems himself unfortunate in
having boan overlooked 'wlan alr. Amos scattcr;,
ed tho Credit Molfllor stock around, d,-secnled
rather aznusod over this proposition, and aaid he
had an active friend on Wall Btroet, who would
like 1T worry much, because he would buy bonds
with greenbaoke and sell them at = premium,
A short explanation Of tho whole oftoct Of the
first section Of tho Finance Committeo's bill Is,
that 1t proyidos for tho inoreaso Of the bonded
dobt, but no corresponding dcoroaHo Of tho
bring greenbaoks to l,nr with gold, when at tho
hame time It ia notorious that tho Government
Inns nothing like asuficent fund Of specie to re-
oy to do dpross vsao so of al our no: out.
standing bonds9 Our 10-40 per cont bonda
are nov, worth about 9s cents in gold and
greonbaoks aro worth. So centa In gold
10 cents on tho dollar. If tho values Of green
backs and bonds would bo equalzed by tho FL
nance Oommitteo's plan, 1t would probably be as
much by tie deolino Of the valuo Of bonds as By
tho rise il tho ynluo In greenbaoks. II tho bill
provided TINT tho greonbacks received for bonds
be at once cancelled, and never roissued tho case
would be as different rs day la from night.
Greenbacka would then gradually advance to pnr
with Specie without any actual redemption Of
$hom il coin.
), - nEDEMrT1oN or STAMPS.
~ Washington correspondent Of the Journal
Of Commerce says that, whom tho act repeating
certain stamps wont into effect, tho Commits
aioner Of Internal Revenue issued regulations
which authorized tho return Of sta1npa that
,wero no longer ,noeded, and their ro-
'demption in check, match, and proprie-
tary stnmps But subsequent to the Issue Of
that circular, tho Comptroller decided that tho
Commissioner hld authority in Law to rodoom
xhe stamps in money, and that plan was adopted.
Dnt stamps came pouring in for redemption 80
fast that tho clerks could not handle them. hrr.
:, Chapman, chief Of tho stump division, has
Hwelvo 1adiea continually at work counting the
stamps, sorting, them into PACKAGES Of each de-
nomination, and going over them threo times to
~sbe sure they arc right. Most Of tho stamps
come singly and not IN shoots. There nre at
least 2 900 lots got to be counted and pafd for.
These are being disposed Of at the ratio Of ton to
fifteen lota day, and three, four or five months
may yot DO consumed IN tho effort to dispose Of
'lal1 tho caBes.
LOCAL STOCK AND BOND MAnKEr.
:" Mesrs. Iunt, Preston d Kean quote az follows