, 1873-02-19
money And com M E:RCE.
MONETARY,

TUESDAY EVENING, Fob. 1a. , !
Notwithstanding tho lneroaao in tho supply Of
foanablo funds, tho 1norensn IN tho domand lB In
gfoatcr proportion. Tho domand from spocula-
tors tn grain has boon mot by tho bnns go frcoly
that money apponra to ho gotting tightor and q
largor proportion of applicants ut bank moot
with rof1lsala. Tho liboral shipments Of pro-
ducts Eastward furnish q constant supply Of
chango, which Ia tho samc thing as money.
Weetorn merchants havo now paid OFF tho great
bulk OF thoir indebtedness croated In tho fall.
The doniand for Eastern exchange Inns therefore
fallen OF yory largely, mud tho proccoda OF tho
aalo Of tho crops aro accommodating in tue West,
but as mentioned above, tho fundH aro boipg ab-
eoEbod in speculation in grim.
At tho close Of 1aHt week the country demand
for currency decroHHed considerably. but with
tho opening OF this weok 1t increased aga1n, and
tho amount Of currency going into tho country
now oxc!tos general rculnrk among bankors.
Tho volume Of currency going into tho country
now is in fact as largo as Mt any time during tho
past yoAr. The wonder Is, what has become OF
the unusual amount sont out during tho last fow
1nonths. Very little Of 1t has como back, and tho
most Of It must bo In circulation In tho country
wost Of horc, though considerable portion has
perhaps bcen drawn OF into To1as md tho now
Territories in tho southwest.
E1chaugo sold between banks to-day at 81 por
III nan discount
49, 1,satar,, ,,,,o,, ,,,,,,o., t,oro a,,,,,,, -,
IN tho Eas'ef'. iaonoS ha,Ae's 'neio nppoatb
York, tho daily rato for money to carry stools
ranges from 15 to 20 por cent per nnnum, md In
Boston money is scarce aud ratios Of interest on
ali clnsses of loans arc highor than q week ago.
nAHK BILLS IN THE LEGISLATURE.
Two bills wore introduced in tho Legislature
yesterday for the government and inspection OF
..aos oet IT,. saaatar nast1o on,,1;oa onlv n
tfouuce" ny oon",o1 esae4' "ppuoa onty "
eaviuga banks, and contaiuR many good proyis-
ions, some OF which arc greatly needed now: It
to H., D.s a.aaoa ~ t,n,as t,,o on,o,,E,t
nank enall eAcoco ien s"uee tuo "toalls
Of its paid up capital Th's should DO altered
to rroyiuo tint capital should In all cascB bo
Savings banks with capital stock are conducted
as much for tho benoflt Of stockholders as COM
morcial bnnks and 1t ia M erroneous notion
that thoy can DO conducted With safcty on
smaller percentage of capital than commercial
publIsbod s S repora % Of tie II banas @ aIa % osemipa
siona by a i}auk E1aminor appointed By tno
canital 10 bo inyostcd In Unitod statos bonds OF.
bonds Of tho Stato. On the whole. Tic bili entors
too much into the details Of management aud
invaYt1nanta and vot nn,ita eomo Of tho most I'M
portant poipta in this connection :: Tor
tnstance, there ia no provision for
ahoving whether tho rcal ostato on which tho
bank loa,,p tic money Of It's dopositors is worth
moro in tho mar]iot thau the amount Of tho
mortgages or not. Tilin is an important point,
and II any Savings Bank law ID adopted by tho
Legislature, it should prescribe some proportion
aos.a5 ra1,,o ~ 4i,o ronI o.to1n
IT, Iii ;ntroiunad 1,v sonofor a,ona f,y,,;c1,
va m nsint i bolow1 is more m brof and more cSmpre %
nena IN th9 10 p .nat IT. R1ovaeaS a
ri fY1