Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1873-10-04
From the chicago rriDune Of the aath inst

From the chicago Tribune Of the 9ath inst.
In New York and elsewhere. the sit
uation is quiet. There was less excite
meut on Wall Street on Saturday than
usual ut this time of year, and the quiet
of Monday morning was in marked con-
trast with the mad furore of Sunday a
week ago. Shipments of grain abroad,
have recommended, the difficulties of
foreign exchange having been obNiated.
The Produce and Gold Exchanges have
resumed business without difficulty, and
the present feeling is that business gen.
orally will be renewed under good au-
spices. Some apprehension is felt that
the re-opening of the Stock Exchange
may disturb trade again, and perhaps
rekindlc au unfortunate excitement; but
on the other hand, it is thought that
the general feeling of reaction against
the panic, and hopefulness will act upon
stocks, and bring rising prices for secu-
rites. Howes ~ Macy have practically
resumed their business. Clews IL Co.
say that they will do so before the
statement of their affairs is ready for
publication. Fisk & Hatch will resume
as soon as they have cleared away their
Indebtedness. Even Jay Cooke ~ Co.
promise to begin again soon, but no.
body believes that they will ever emerge
from under the load of Northern Pacific
bonds. In Washington, number of
banks and bankers have formed an asso-
citation for the purpose of giving gen
eral acceptance to certified checks, to
be issued to depositors in place of cur
ryncy heretofort deposited. Future de-
posits of currency will be treated as be-
tore. President Grant makes public his
views of the situation and remedy III u
letter to Il New York dry goods mer-
chant. The banks, he says, are now
strong enough in view of the withdrawal
of their deposits from the Treasury aud
the Government issue of Sl4,000,0UO of
grcenbacks i'll the purchase of bonds, to
adopt a general system of liberal dis
counts which will sustain the business
interests of the country. Without such
cooperation the Government can do
nothing; with it, the Administration is
willing to go still further, and the Pres
ident binds himself to hold the forty
four millions of reserve greenbacks as
"money III the Treasury to be used
for the public good as the public neces.
sity may require As Il further means
of relief, the President has ordered the
payment of the November interest
From the New York Tin,es OF the sum,
date we copy as follows:
We arc sorry To learn that ihe disturbed
state of the money mtrKct Is already reaching
labor. Some large hrms IN ihis city have
either dischnrgcd many ut men hands, ur pro
pose 10 give lhtIn OnLy llrec or !our days
work II week. Jhc uinis IN question cannO
well help themselves, but we rust that tht
| measures when Ny bnVe taken will bt
o. brief duration. There viii soon he revi
val of trade, Iur the country is not really pOul
AN Artificial secretly ,. monty has he,n ere
| atcd ana II will NOT he long Gelure lht
| causes ~ it'Hrr removed. People will not <,
on boarding their money, nnd hot only losing
their Inlt rest upon II, but running great risk
OF having II stolen. Business Will very short
ly flow III lis usual channels, ana We sill hope
~ see the promise OF last month with respect
to The Fall trade iuiy realized.