, 1873-11-20
M0NEYAND COMMERCE.
MONETARY.

NEhSEsDAf EVENING, Nov, 10.
1t aooma to be tho general Impression among
moneyod men that tho strlngoncy usuhlly sxperi-
cncod In Decombor will bo much leaa oppressive
this year than last. Thoro ia souo reason for
thinking this will DO tho case, and particularly In
tho West. Tho fall pufchasos Of goods wore
lighter than usual, because tho panic oapo iaat
In. timc to prevent country morol,nnta from1aynr
in heavy fall and wintor ntochs. Ou tic other
hand, tho movement OF Western crops bernn
unusually early, and largo amount had boon
been marketed before the panic brought trado to
standstill Tho movement OF nro.
ducts from tho Wcst to the EaBt
and to Europe was only temporarily interrupted
by tho papio, and has bcon unusually large DUR
au9 tho whole fall. Tho movement Of tho bor.
crop ut tho prosont timo Ia simply immense.
Lilo receipts Of hogs in tlis city to-day wore
nearly 10 600 head, or about 800 moro than ever
received In onoIday before. A wo mentioned d
low days ago, tho receipts Of hogs for tho four
weeks ending last Saturday wero about 40 per
cent greater than during tho corresponding
period OF last year. Tho consumers Of polk arc
mainly In tho Eastern States and iu Europe,
and the money that will come buck in pay for
tho hogs and the grain that hayo boon md
will bo marketed, will mako 1t plenty
in tho Weat. II wo tako moro general Wow Of
tho stato Of trado In tho whole country. the
facts that importB Of foreign goods have been
unusually small, md exports Of domestic pro-
ducts unusually large for nearly three months,
justify the Inference TINT, notwithstanding the
panic, wo aro, as nation, steadily accumulatng
money, and tho continued influx Of apcoie from
Europe, aa noted in the te1egraphio dispatohos
from day to day, proves it. Concurrent with
this accumulation OF money, thcro las boEn q
sitting out Of tho chronic borrowers who have
heretofore absorbed o large portion Of the
supply Of loanab1o capital on tho mar
kot. Tho enormous load Of railroad
bonds which ,vere being carried at this time last
yoar by tho various negotiating bankers in Now
York, and on which money WAS being borrowed,
ut any price, from day to day to kcop their
schemes aloat, aro now thrown entirely out Of
tho market. Thus tho avenues for The employ
ment Of money, and particularly the speculative
ones, are much fewer tlan at this time last year.
After tho payment OF tile January dividends, IL
seonas pro1ahle that capital will accumulate in
banks., and sock employment in loaun OIL COM
ulcrcial rapor or run into Government bonds,
sound railroad stocks, mortgages, and city roal
estate.
Tho heavy movemont OF hogs is already maxi
Ing money plenty IN the country. Tie general
t. testimony Of the merohants of this city now is,
that country collections are made with better
SUCCESS than usual ut this season OF the year.
There was, however, 4 hfatus during several
"ooks IN October and September, for which tho
present satisfactory collections hayo not quite
compensated yet City merchants aro, tlioro-
fore aonewhat behind in their payments at tho
banks and to Eantern creditors yet, but tho
banks report gradual improvement in their
collections from merchants il, this city.
New York exchange is still so scarce that there |
arc fow, il any, sales bctwtea banks, mud tie |
quotation is nominal at about Too per 900 PIE
miun,. Many Of tho bauks arc still shipping cur
roncy to Now York to keep up tloir balances tleru,
but tho Increased movement OF hogs will proba-
bly, soon mako better supply Of Eastern CT
change. We reprint from tho Now York Finan- |
c3al Chronicle tile following: |
TABLE SHOWING RAILROADS IN THE UNITED STATES
NOW ~ DEFAULT FOR SoH-FAyMENT or lATEREar ON
TAE1u BONDED DEar. |