, 1873-08-21
MONEY AND COMMERCE
MONETARY,

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WEDNESDAY EVENING Aug. q0
Tllo demand for currency to-day was over
kreator than voHtor,lnv thn ,.rco vommo ~ co,,r,
WV or,o.. oa.'.,.'' .1,.".',s sno oo""
s.1, y piuSf" causing conaucfaplo comment among
bankore' stnce tho beginning Of tho week CTR
roncy has boon going out at an average Of about
$500 900 nor div. or at Tho ratio of an mn {a1 ncr
wooh. This tnrro domaua Yror ~ ao,,n,s, -. -.
~ e ~, se11"sns oaam % Indicates groat activity
an so ltlsorlor. Which will necessarily soon cause
nn oqual activity III almost ovory limo OF busi-
ness In tho city It will temporarily make uonov
llttlo losa abundant. bocatlso considerable osn,
41al WI W t4aoseai'y uua'ailnolo "hllo It is IN
Tho capitnl TINT is now going out to tho country
60 ftssy IN the saao , Of currency T. not going
~ NY H'oe'o", 'u"1 wa, olnin1sa INC supply
ofloanaole funds, but simply to DO uaod as tho
meana Of setting tho wheels Of commerce in
farmer In nav for bis cra,n. From ths ,sr,nars
80 ~, 49, r"! ~ 11a Iton tno 'atlneFs
:. "'l4 SO slmoa1 ,n'meolaso'y INTO tne bands OF
s country sh,a y. m01o'n, anu enable h1m TO pay
smpolstay @ ,utnlsn M 'nu ao.ua' money 70 Pey ,of
>no Bfan'' pat tno efoalt represented ns the
Erain comes back to the city merchant from
ltllH. country debtor almost as soon as
the gram itaolf reaches lore: Ihus tho
diminutton OF loanabe capital in tho city is only
very temporary, while IN tho country at largo
OF dobts aud practically makes money plonty."
, The money market Is, however, nbundantly
supplied with loanablo funds yot and many Of
ttlc 5anks would DO glad to increase thoir loans
,a at 10 per cont to approved borrowers on abort
time In some quarters thore is m impression
that tho arge ,moyomont OF currency will oo-
'cnpy 80 much bank capital as to have BONO Inn
poItans enoet on tue loan markot; but. AZ OK
plajjned above, any tendency in this direction
Will bo worry temporary, and it is not probable
TINT any such enoct will bo experienced
from tho marketing Of the orops If
tho grain is kept moving, and ia not allowed to
most Important item in the prosperity Of the
West ia to raiae good crops Tho
mc3s Is to heh thcm to the Eastorn
hen, foro'sn consumer and gSt the onoy for
has been accomplished, and tho second is in
Pfosresa at . rate which Affords hattorng pros-
pect for good fall business In nearly all lines |
OF E1eSeneo !feSe declined largely to5.v so,,,n. -
n.lo discount, and Of ono time in tho day was
nlhicnlt to sen, without considerable roluc-
xhn xxhton' .sesa,,-a even on that price. oning to
Towards tho close Of bupiness. whom
She telegraphio orders from the country for cur
Eoncy diminished, tho price Of exchange became
y little firmor, c'osng at about 81 por $1,000
Alacount.
Tho suspension announced to-day Of 1fossrs
Hiaskfn, Martin d Wheolor, salt and comont lner-
Ehantn cauaod some comment in financial circles.
Lake tho recent dartlnor failure, 1t is generally
70 carry enterprises outside Of their legitimate
Arado. In the caHo Of the Messra. Gardnor it
Soa yas tv9 hotels ono in this city, costing $780,,
ihng $100,0 In tho caae Of AIoasre. Haskin
hfArtiu l. Wheeler It is aupppoBed to ba |
their cement works at Utica. it, thia Ht.ta
and eome other onterprisos more foreign to tloir
Legitimate businoBa. TheHe circumstances ara |
to show thnt TIM failnroa mo 1,o ~ |