, 1873-11-06
MONEY AND COMMERCE,
MONETARY,

"'oWE ElARY'
,vrn--nr, ,,uuu ,,
Thero is worry little to my @out tho aspect Of
local hhafacoB. Tho bnnks nro doing q modcr-
ste amount OF business, considering tho general
attenuation of trofo hut ovor,.,,,;no, 10 -,
small pcelo no romn,ra xit s,'nt u ,so,,ta ~,
'~', w" eu''ll"roa WIN what IL womb 10
1uuet o1elnary circumstances. Deposits aro
email, and loana aro ovon much less, III propor-
fion, thnn dopoaits. Tim hanka ara a1t ,1,nnipp
unusually strong In c,rronov. ~ nfoncv W. contnnos ,s
sa. anu tne pfeSal'lne rates IN tho opon mar-
get aro ~ to per cont per month.
New York exchange Is still scarce. and, III atl-
d1tion to ti1o oity ten,an, hnro tia or1nr. ron,
nut, .'' w. ~ Nv" 1orn Ant'oa arc increasing
nn IN gooa e'en' as 1t Indicates TINT tho coun.
try merchants aro paying their Now York debts.
There lie, howovor, no rcnson why the Northwont
mart of lin ITn;tnI gtntoa nmd h1I r,n WV,
renov thnn snv nthor s"cti;aa n,n ~ te as '
EIchsnrn H. n,,ot.i1o haro +n.aen ~ ESSo ,,,r
l.00] nra,n;um ~ 9oo'"o'' n'fo so'u"s ~ o0o p'f
= rnoanrso rou,r, ,n,,,, ,,a,u
Gold. ountoli nj 1oi7% tn>dnr - ,ownr t,or H.
has boon anco :Jnno 1aSa @nvor otovon vcnra'
The ureat Iecroaac IN mr. im.,nrta 81 f;rnirn
goods and tho l CONSEQUENT ~ decrease iu tho tie.
iereo osnarts ~ - n,oat;a u r,oots and tha con.
so9ont ni]nx ~ smacs" trpn, e. 1;,ronn 10 INV fnr
bur breadstuils. is rapiily bringpe gold down to
par WITH greonSaoks. '. Notwitbstsnsding tho dis:
mercantile credit. tho balapco CO. OF Tor.
c;nn trn1o IN I'm aponanna ~ cnnmnd.
it|os il IN - aur foyor a5nd 1ratoad -,
soudine spoeio to nav tho advance balance
againaf ma M has a,tyaya horatafnrc hoen tI,c
caso thn annc,o scnn,;nr to ,,s nnJ M nna,,nn
,xc nro w. o"ov,n,,lat 1ponov w. n"t ia nsoo;n
whfcl, In heinr acc,,nn1atc ioes ,,ot | c,re,,iete
No ,nno, oeS T. - a,aaaJ;t ~ ,si .no.a T.;
forcod ,5nor ,nusI. I.tonI,r Tap,eI H. s,,oo;a
Tint doep nj cir6ninto IN iocked m and tjo
prossuro to conyert Il jnto araonhncEa, that viii
circulate enhances Tho yalue of tho atter.
Ti,crc 10 rosann ~ ho1iavo that tha 1,raso,t do.
orcas;on or thc innnrt trsde w viii Z cont;nna
fIrnnniout i'm ,r,ntnt r. i1 +nor"rnro ~ IN.
probablo Tint thn jccf;na Of rnId viii continno
until it ia near par with groenbaoks.
Tho onnortnritv fiat f'onoraau vii, bouo Thin
winter for placinT tia husinoaa NJ Tia cnuntrv
~ urnc;a ~ ; ~ m.an t1r - s., so ~ 41s
Iega1.Tondar nct w}Il hc s,ct, no cam acarca1v
ever occur again to let il nnsa nnimnroyc,i wiii
bo'nn mt ~ fha most cnrsm,nnooto fni,, trl,n
ehr,n1tago ~ va1rns which hau o1,royo man tho
thinp moat fonrnd md dnnracafc1 IN tho
proposajs Of a chnnco from fianrccinto1 cnrrencv
nricee tn ro1d nr;ccs haa n1roadv hoor nYnnr;y,
ana il necosaorr to hr;nc ,,r;"aa Sn~e ~ nn1,1
voi,,on viii In a,nor;anSo5 d,tr ~" ,ot +fsna
monthe ANYHOW Az tGo mica ~ goid dnNlinca Aeo
Tho nroaont wintor al i87s W;ii nndnnhtcd,v
TyitftnQR hn cf
nra in fho f,nnnc,o1 rn1;cv ~" ~ nv 1,a-
tion. Thn t,nanoioi narrin baa - hoo,' INV ti'o I"
means NJ Increasing fha 1,nn,nn,arit1 ~
the national hanlfnT.zvsfon, and ttnro viii
,,ndoubteiiy be a le1non;} made mnon Gonpress ~s.
A. aho1iah tko hnn1:a cnd ioauo yreonhon,H ~
only in r,,arn If 1hcir notna h,ft t. !" Hrentor
extent #, the purchase Of bonds. The craat
are1mont in faYor of this il that It will savo tho
427l O00 {00 of intoraBt an tia hnnia. con.
clusiyo nrrnmont AGAINST this wonli In that II
tbat caso the Goyorument would hayo betwecn
SIND. .0O0. 600 snd $500 400 000 Of demand notas
outatand,ur and thnt on tl,;s amount thcra
would be- no hone Of rosumption Of apecie INV
ments This would bo roregoon. and Tho raid
yalno af rroenbacks world denracintn an
that All purchnsos Of honds, mot1o with vio,v to
Dottinr rrcenbaoks into oircuiatiou. would hayo
70 be mado at a licl pran,i,1m in olrronoy for ta
boofia. The PROMISED sarinr of san, ,O1ij, non If
intoreat wnuli he much moro tl,an oirsat hy tia
loss in the premium psid Tor tLom in erocn-
backs,
THUS. 1t will be seon TINT ye probab}y stand
on tbo oyo Of eroat chaurcs in our inancnl mud
currency syatom. and That theno cnanrea will
lead either to further imitation. aud couseouont
dcpreciat;ou Of tLo ctrrcucv. or will pluco tbo
buaincss of tho country OH a sound bneis Of
enocin nricns.
Those who aro onposcl to initiation, and vet
see m ynv tn rastarn ronfilonro. Koo,n tn nom
centrato their cttention on the problem Of
"uoeuot @aI -, oo'otAIAc1ie tt'' Acsun'o epcG;to
Hu5AloAtps 4AE4p 1as uo"ostt. ~ 4eaauA way