, 1873-06-13
MONEY AND COMMERCE
MONETARY.

, MONETARY. \
THURSDAY EvrN,No, Juno II.
In local fl1lnncos and trnt1o, matters nro OK
trornety uuiot. Evon among tho exeitablo
fraternity on tho Doard OF Trade therc WAS
SCARCELY ripple to~aay, but quiet aottling
down OF prices and q goneral aloepinoaB.. Money
continues oasy md all approved borrowers got
vhnt thoy ask for without difficulty ne tho banks.
But thero Ia worry lttlo speculation or activity in
any limo Of traffic, mud but llttlo opportunity to
uso money to advantage. In default Of finding
uso for their funds horc, many Of tho banks aro
increasing thoir Now York balances for tho salo
OF tho interest allowed thore on curron ba1ancoe.
Now York exchange is In domand at from par
to $50 por 81, 600 preulium.
Tho deolino Of gold today Is doubtless duo
partly to tho expectation that tho plan Of or
setting tho payment of tho donova award due
from Gront britain to tho United Statcs by tho
redemption Of s2o,000,00O B-2os Of 1862 will
quiot the apprehonsionH Of tho Dank Of England
about drain Of specie. According to tho law,
tho Secretary is required to redeem bonds in tho
ordor Of tho date, number, and Herics OF thoir is
sue, and AZ this s20,ooo,ooo viii necessarily bo Of
che 52o's Of 1862, 1t is possible that only anau
portion Of them nro bold In England, though It
Europe. md tho direct relief to tho Bank Of
England may not bo 30 positive as c1pootod: In
this case tito Bank Of England would still fool
.as spse aSa notsors Ct tho 5 fAn tes f
disposed to advance Its rata OF discount to pro-
vent tho outflow OF speclo to the oontinont In
payment Of tho German indemnity. Thus far,
however, tho succoBslvo edyancoB In tho rntc Of
little effect to advance the rate Of Bterllng OK
change In Now York, and tho prospect OF largo
exports Of speco havo not Increased much In
consequence. Tho faet H. ne e1pofss 81 pro. IT,
tendency has boon to keep tho BALANCE Of trade
in our favor, hence VIC lavo temporarily boon
accommodating money In this country, and ono OF
the consequences OF that als7ayg 10, q de-
last six months gold haa gradually crept up
from 112 to III, and ns the summer progroeaos
1t will probably DO found that, notwithstanding
temporary fluctuations like tho present, the
ports ports Of products fcep up 6otto1 than they usrl-
ally do In the summer. ..s..-.
FROM CALAIS TO CALCUTTA DY NAHhoAp THROUGH
CENTRAL AB1A.
We Of the United statea arc accustomed to
think aud Bpeak Of our various Paoilc Railways
na tho wondor Of tho world Yee Il the project
Of II. do Losacps for tho Central Railway Of
Asia, now about to DO formally submitted to
ss svoaon Il nqt ii & arn 81 1a I@Ss'''ssa ssa ts IL
results in making tho people Of the world
acquainted with enoh other would bo oven
groater than woro experienced by tho oonetruo-
tion Of tho Central and Union Pacitice. From
already continuous limo Of railroad through
Franco, Germany, Austria, and Southern Russia
to Orenburg, q city on the OurA Rivor, which
flows into tho Caspian Boa. Orenburg is consid-
hl. do Lesseps proposes to construct railroad
which would run Houthoastward ] 500 miles, and
through twelve degrees Of latitude, to Samar-
kand, In Iurkcatan. Horo it would
1a9o,da sSt tho uha hs1a 'yassm eompoto
limo from Calcutta ontirely across India IN a
northweaterIy direction, to Pcshawlr, Oh the
western border Of tho punjab, and in the OK
tension OF which line $50 miles long is to ho
pushed sill to tho northwest, through the City
OF Cabool TO samarknnd. Tho total 1ongth Of
line to bo constructed from Orcnburg to Pesh-
awur il 1850 mics. From Oreub1rg southeaet-
ward tho line would skirt tho woBtorn shore OF
tho Sea OF Aral, thenco following, up the valley
which argosies OF goods from the opulent cities
further eastward were 1oatod nearly two thou.
sand years ago on their way to tho New West in
Europo-through Balkh, whore moro than 9
ThBang. coming from Chiua, found q rich ant
populous oity, with manufacturers, colleges
1ibrarioB mint, at which woro coined gold, Ill
yer, aud copper coins according to standard ostab
ubuEQ DY laW, RQu all ElAUOFhtd BJbtGH OI CUIu
mercial laws-turthor on, through samarkand
with its host Of historic ind poetic associations
What route for the o,rioua trnyelor, student,
or merchant to travel on his way to 1ndia! ::
The total length Of tho line from Calais t.
Calcutta would 10 1900 miles. and the estimated
expense Of the surveys and preliminary OK
penscs is 30O0, 900 frnlcs. To mako those sur
v4ys, II. dc Lessepg Hooks the aid Of tho Russia'
Ct,vernn1out, which 1t seems probable will b
given.
~, a.. sth ~ hr.r aar ron,t.r r,,1,s3 4o Nr n
1essops ia ia letter ter! !murEcd %conadentaS liz &C. CON
pllnents II. do LeBseps the freah evidence Of hi
initlsas in I'll Ills important @ Al mstter II hsvs myself,
continues Gen. 1gnatier, "jou1neyed through Cor
tral Asia and can therefore personally bear tesnon
have tho strongest conviction OF the grand future
tho enterprise which, although at irss alght 1t ma
destined to bo realized n future moro or lesa ro1not
We hayo to consider tbb antagonist!o spirit which h
1 position sngsasrs nstMen E
ulatrust and jcslousy on elthor side must despair:
am not abie to e1prcss IN opinion aa to tho aspect
cxprexs the hops that the Statesmen Of England vi
their part understand the Importance Of tho quo
he
involved, do not hesitate an instant to promise 70
my personal support, and 70 express my sincere
and brilliant SUCCESS. shall to-day transmit to Prime
dortclakod your letter. shall not fail to rccomeu
your project, and to communicate to you tue maunn
In which v;nr proposition has been received by Il
Ilnrerial Government
LOCAL aToCK AND BOND MARKET.
Messra. Lunt, Preston & Kean quote rs 70
lows this p. M:
EitMng. selli,,
1-20s of '62... 62.........-........,.......11G LICK 117
5-20s Of '64. .....................ll61 III
6-2Ds OF fU5.,...,.-............,..... U5. ITO
6-20a Of 'G5, jan. and July. 100 12U
6-10s Of 'B7, Jan. and July y........... .12!.< l2l
6-2osof B9, Jun. and July. ..120N 11l
10-i0e.:... ......,................113E Ia
u. 8. tn fnew isaue},.. .l16H lis
Gold {full weiGAt} ..11G5s Ill
Gold Coupons. -. .................1 LICK lid
Gold Exchange. e............... 49,. Ill
Sterling Exchange. ...* 100HQsl10
Northern Pacific Gold 1-3Oa, ,......, 80. 100 l. II
chicsEo City 7e..,.................. -. 99H Il