, 1873-12-28
MONETARY.

y TuunspAx EVENING, Dec. al, 1875
The feature In financial circles to-day is the
application of His Honor Mayor Colyin to tho
banlts for a temporary loan OF $500, 900 to meet
the immediate necessitieB Of tic city. Several:
Of thom responded that they would advance their
proportion, and there is no doubt that tho funds
will bn promptly Forthcoming. Tho money will
bo remittod to-day and Monday and Tuesday to
Now York. It is folt TINT tho honor
OF our city must bo maintained. aomo
of tho banlsors, however, doclined to assist, re-
garding their duties to customers as Of the frat
Importance. J. r.
| Tho prompt pnyment Of our city obligations,
despite Of the heavy defalcation of our .Treas-
urer. will ut once aay the fears in Now York, Of
which audible muttoringa hnvo reached us, that
our ColnnaunistH md domagoGuos might mike
soriouR trouble for our City Government. What
ever danger might Mt first havo been antioipat-
ed has passed away. Our citizens gonorally
have too much good aonso.-too high"a regard
for tho principles OF iustico-to be lcd fur astray
by tho agrarian rawlings Of q fow half demontod
Foreigners.
Money is close, consequent as stated yester-
day OH tho closng up Of accounts ut tho end :of
the yeRr, aud preparations to pay Interest on
public and private indebtedness during tho conf
ing week. Bankers, however, meot cloorfully
all reasonable wants Of their customers, and
thero il, therefore, no roa! sIrngoncy or aulror-
! Exchange is close, tile ruling figures being pnr
TO 25o por N premium. aoiling to customers
at par to outsiders, 25@50c por IN premium:
just now street rateR arc yery firm and money
month. according to the guilty Of tho paper,
time, &c.
Without indotsing We give pluce to tho follow
ing communication on
70 the Editor ef 4he Chicago Tribune:
SIR: have read attentiyeIy tho various plans
and schemos suggested by our Financial Sccte.
tary and other political experts, for tito euro Of
cur financial Ills. Ills that hayo become chronic
and Of late much aggravated by tho yast gam
bling combinations in Now York, having for their
object the control Of the monetary nffAirs Of the
country. periodical pinch OF pauio laa become
an evor present dread, causing the great legltl-
mate entorprises of the country to halt and hesi-
tato for lack Of confidence III the stability Of
financial atlnira.
But We look in win to Congressional remedies
thus far proposed, for anything more tllan tenn
Tho root Of our diillonltios. Imitation" Under
various disguises, is the specific offered for our
rolof.~ Is bimilia similibus curantur," is tile
great maxim OF their philosophy. Plethora Qhoy
arg9e) brooda speculation, aud speculation bogotB
panic; hence, initiation is their prescription for
our financial diatempers. Thoro 10 nothing more
manifest however, than tllat our diilicultioa
sprung from lack Of, Or break In, public conf
donco, rather than . lack Of volume 10 tho cur
panic, there az,oays , appears to s'''1S be - =
groat lack Of money. This is rather
apparent than renl, Tor at such times thore is
always tue usual supply Of money, but monyed
men and institutions withdraw it from circula-
ton from four of loss: 1t would require an
avalanche Of currency at such times to meet tho
demand md overdue obligations Of tho banks
and people, and currency systom Of sufficient