, 1873-03-06
MONEY AND COMMERCE.
MONETARY.

MONETARY.
n W,nNEspAY Ev1:Ht1,u, March 5.
Tho money market proaontn no Dpcclal fca-
lures to-day. Tho supply Of funduts fair for nllct
gitinatopurpoHea, but tho disposition toBpcculato
In grain, and particularly for q riao in corn, ab-
Horbs groat tlonl Of money, aud tho banks lavo
moro applications Of thia class tlan thoy can nc
conlmolato. Exchange is still in good supply.
though pricos wero' n llttlg tlrmor to-day, and
NoT, York funds wero sold between banks at 75
pcnts por O., 200 discount.
With gold to-day Rt TIT, and the now per con-
bonds ns lis In currency, tho net gold valuo Of
tho bonds, exclusive Of accrued interest, is losa
than 08 conts. -.
THE PRESIDENT ON SPECIE RESUMPTION.
Tho President, in his inaugural addross you-
serday, not only dcclnred hiB purpose to direot
bis efforts to ;" tho restoration Of Our currency
to fixed valuo In goll," and. If possible, to n
par with 1T, but In, tho Ramo paragraph returns
from digresBion on othor aubjoots to roitorato
that his efforts will DO directed to tho only sure
method Of returning to and maintaining a specie
basis. Ills lnnguago would imply that ho had
como particular mel thod = tho only sure" ono,
In viow, though tho public aro loft entirely in
tho darknB to what this tonly suro method"
may bc. It ia posBib1o he did not NOM
any particular method, though his language.
would afford ground for tho presumption
that he did. Throe years ago President Grant
made tho aamo declaration Of purpose, md four
years ago he gave It as his opinion TINT tho way
for the Government to got baok to spocio pay
naents was to cut down o1ponBea
"If," said the President to the writer four
years ngo, II, as private citizen, havo dozon
horses In my stable, q dozon servants In my
oase and in Syey y an living an e1t:a, :
8ant aoale, wn'lo my notos are acitng IN tho
market at hoavy discount, 1t is obvious that
my way to ro-estab1ish my crolt is to got rid
nv aurnna ;ncome tn tho ,avrnont ~ nv ,1ohta.H
10y oup tnsoIe W wv pa5nion' =, ny ~ uopsn'
now tn1b nas oooh III lac1 somoshing !lAo ENC
plan upon which tho Administration haa at
of s,ocio 3aymonts. oxcopt TINT TIM surnlur in
49, - ~ ~. 80 ~
.ono nas poou olss,eu ~ tno pA5moht VI ueota
that aro not dde, while tho debts that aro due IN
the shape Of groenbaoks, havo boon linhonorod
pvory dny, The result Ia that ve are az far from
enon;o ,,n>,r,,r+s ,o ,,, ,r,u, f,,. .,,,., 49,. nl
ss ~ ~ a., ~ w. "o.o .o.1 soA.a .uo
sestofat'on VI tho os'f1onoy 10 par VIII Bpecso
tlnanoiors would hayo US believe, and Ind ono
th;n7 If t1,o arr,1ra income thnt hau
heon naid ont fnr rhn nurc1,aao nf honaa
boon paid out for the rodomption and
rf r1ta I'M mil hnn
q mar With eo1d' md nobodv would haro III haon M
amt: When. II oonaenucnco nf I'm cec,,mrIn.
Hon of ro1d n this co,;ntrv a. In u oose ~ 1s71
end fo} ina nnhodv h,,rt md t1,"re ro,,,i
Fave ham M nmaro ,onn r. Il haJ cn,oa ~ nar
provided it could hayo boon kopt tbero. Il I'll, il
fhe continual tlmct',aton f., yal11o tint ioes +ho
harm.~ NotwithstaMding Tho % repeated dec doclara- m
tions OF the President. tlo offorts Of lie Admin
fstrntinn have mt hao9 ;1;rcctad IN rastoration
Of the currency to q nnr with roid. Thn
Torv lntnst movo ~ lin eO'Ti Trooa,rv
In claiming authority to issno e44' o99 'oo99
moro crennBacka ia in cractIv Tia nnnositn dirncs
lion. The now coinsro iaw. whol, Il framed al AZ.
nrasn1v In acoordsnca w;th ifr Doutwo,i rion.s
to fao!]itato tho oInortation az nnr increasimo
produot Of eilyor. is also a aton In tho onnns;to
mprobaba that IN yeW of orr eliminating aoo .s .1
II min In tho c1nntrv tha rofnenl ~ tho 3mimiae
frat;nn tn anconrsgn M. n,o.aoro - ~ ~ w.
aomntion of rrnenhoc1ra md jta orconronor,a,,t
Of infietion nenanrca aunh % M na tb;a ;ss,,o ~
e44, 100000, gold nav tbis yonr riao to 120 et
prosilont Grant wns frat jnanc,rated' 40 "1'1sA
r1r s.1 "an mr. o. ~
sTATra ~ ~'N' oN'Ae4D
II In praaunoe;1 that Tia h;1, tn eatab1;sh ar As-
Instant Treasury Of the Initial Statea nt nh;cs-
50 in place Of tho existing "Depository' went
bours Of the Session. and tint It viii bocnmn >9a ~
law. Aboit the nn1y chnn1a n vii ,,a1,s T., ill.,
busness of the ofI3co viii hS IN acnarote t,,o ~.
pository from tha ofIcn nf the nol|notor ~ n,,s
CONS OF tho mort Of Chicago. 01'
The reoeipts OF the Tnpositorv in tha c;tv
Under tho nenaroi hands ~ n,atoma Sb ;nsarn:{
rayonna. nSnh};o lanGa oto h"va ;,araaan5
puormouslv diving Tho jhst two vnnre thia ha;ns.
the gonoraI dopogltory Of nnhie royennn for ~ ~
the surrounding country as far east aa Detroit
Tho magnitude OF tho bualuoso here