, 1873-08-30
MONEY AND COMMERCE

.Tn1nAY EVENING, Aug. 20.

rn1pAY EVENING, Aug. 20.
'rhoro socmn to bo scarcely my dccreaHo III tho
outflow Of currency to tho country. It wnb
t]oueht Inst week t1at tho tIonand could scarcely
koop up Mt tho na1ao rato until tho prosont tinlo
n1any persons thought that tho largo demand
thcn aroso from MI urgency to mar-
Rok wheat 30 NJ to doalvor 1t horo
in August, and 30 got tho benefit Of tho high
priccs caused by tho fears Of M August corner
in wl,cnt Had this boon tho case, lilo demand
for ourrorcy would have fallon Off by thiH tmo.
But tho fact TINT 1t keepn up to just about tho
aan1o volume MS last week., shows that tho great
bulk OF tho whcat crop ,n,lst bo on tho movo.
Thoro Inns novor pcon 30 largo m amount Of
currency aont Into tho country l,y Chicago bauts,
during tho Hanlo longth Of tinlo, as during tho
last two wooks. Tho movernont Of tho wheat
crop has mover been moro prompt and stimuli
tauoous from oil parts OF tho country, md 1t ia
reasonable to expect that tho September ro-
rcipts Of grain will to larger than in nnose any
previous year. Ono evidence Of tho uiusnal a
nrornptnoss IN tho movement Of tho crop IL, tlat,
Notwithstanding tlle fact that thoy havo scnt out
+, nhont sG,O00.00D Of curroncy in tho last two
eoks their aggregate aepos navo ~ ",v no. nf ho
leading banls aro higlior thnn thoy wero
week ago lilo grain has boon shipped In hero
and sold, and the proceeds turned ovor to tho
from these caascs has balanced the opposite Of
feet of tho checking Of the country bauke Tor
currency. .....
As faif as tho general prosperity of tho West is
concerned, this ia tho most favorable condition Of
things TINT could oxiHt. It makes great nctiyty
in finances and trado. and 1T the clearing OF of
indebtodnoss, and also mnkoH FREQ circulation
of capital that prevents Btringency in tho money
o50t' ;no op6 nt If to tho ta sapms%ts as of ,g g5a1
rocoiyo cllcols, aud tho grain accumulate horo,
tho effect to mako atringent money market,
mud probably to depreas prices OF grain. would
bo as deosiyo as tho movement IL now actiro.
New York exchange sold today At a1;oo to
out ovon heavier discount. ordorod largo
amounts Of currency from Now York.
During tho past week the New York money
ing stringoncy, but it il probable tl,ene wero
diroctlythe effect Of tho heavy drifts Of Western
banks for currency to move tho crops, aud wore
not any effect Of manipnlattonB on tho part Of
clique to mako money stringent as somo of the
Now York papers have irtimatca.. Tho improB.
Hion, however, laa boon nlado In tho public mind
that tho clique nro preparing to do something,
nobody knows what, but many fear nn atten1pe
80 those who boliovo III o paterna1 system Of
Government hnvo sent m npponl to tho Secretary
Of the Treasury, aud le las cauRod It to be- made
public tint Ito has nn ample balance of nearly
FL 00D QUO of legnl-tondor5, nna that ho claims
authority to issue tho reaerye Of a44, ,00O,OOO
III IN cniergoucy.
the Ygronrs on TIE conn orop,
The tclographio reports published In THE
TntnuSE Of this morning {Aug. 29) in regard to
tho condition of tho growing crop Of corn in this
State, wcro doubtless road With general interest,"
Iu order to show tic important relation Of tho
crona in the central uart Of thia State to tLo az
Eresato corn Of ihe United States, wo give Ito
According to tic cenaus Of 1870 Illinois pro-
flucoa " ucr cont of liza of,tiro amount OF corn
raised in the United States. nut tho Same eta-
tstica also show thni tho twonty.four counties
pan. sanea1non. Coles. Edgar. Henry.
Knox, Alacon. Madison, Mason. Morcor,
Shelby. Tazowol1. Vcrmi}lion, Warren, White
side, Woodfoul, Livingston, Mclean, Mont
f.omeyy and Maeou,,;,.. uroi}ueed 65 mar cont. or
6,nro Tim nno-hn1f nf tia totaj omn1nt Of corn
raised in the State, Consequently tho corn crop
~ 4Lo,a t,.o,,+,, fo,,. onvtt;on oopnti,,too ~,