, 1873-03-25
MONEY AND COMMERCE,
MONETARY,

NONE AIRY.
MONDAY EvEN1Eu, March a.
Tho money market continues we'll supplied
!: hith loanablo funds, and tho contrast between
/, Tho oase hero and tho atringonoy in tho Eaptorn
" oartotH Is tho subject Of considerable toaarls.
lho prospects for spring trnto nro good, and,
sxcopt tho two drawbacks of high freights ard
aho low price Of corn, tho Northwest Inns not
bceu in 40 comfortable and prosperous con-
. dston for several years. but, considering tho
fact TINT crops Of oyory klntlhayo boon unuaual-
" good for tilren years. 1t could scarcely bo
otherwise. It would, however, bo bottor for tho
West II farmers would devote loss Of tlloir land
ahiB yoar to coru aud raiBo but little moro
OF 1t than they can feed to cattle
and hogs. Thoro is now aurplun corn enough
In tho country to moot NIL othor donnnls and tho
farmers labor will DO better paid by doyoting 1t
to something clGo that docB not coat 30 largo
percentage Of itH ynluo In the Eastern markets
10 transport 1t thorc.
New York exchange ia steady at 25o por 81, 600
1iscount. Romittancoa OF merchants hero to
Eastern creditors arc now quito hoavy, and tho
: fact TINT, notwithstanding this, exchange on New
York is at discount, shows tho balanco OF trade
to 10 still in favor Of tho Vest, and reflects tho
prosperous condition Of things resulting from
tho recont marketing Of tho great hog crop Of
last year.
UNITED STATES " TREASURY NOTES."
Tho oflleial figures from tho Treasury Depart
mont at Washington show TINT OH tho 18th Inst.
tho amount of legal-tendor notes outstanding
357, ,27s, DIS, boing all increase OF II G71 900
nyer the amount outstanding on March /. Tho
Treasury balances at tho cioho Of business on
.ho 1sli, wero: Currency. $2,oC3, ,7o2; special
deposits Of legal-tonders for the redemption Of
banking certificates Of dcpost, ,;23, ,350, 900;
coin. si;o312 2ot: Coin certificates outstand-
md payable in coIn on May !, ip over s7,o0o,ooo.
. 1t is now allthortattruy Btatod III Washington
That, contrary to rumora that hare boon crcu-
latcd, tho appointment Of Mr.. Richardson, as
Secretary Of tle Treasury, was mRdo with ss
much Wow 10 poralanency 90 any other Cabinet
appointment. Tho Washington correspondent
of tho Now York Journal Of Commerce reports
Nlr. Richardson as aaying that the Pfosiaont,a
ron'a) policy: TINT ho would not. II ho could,
depart from Mr. Do1,twc1l's policy, and he could
not If 10 would beca1tse tho rresaont's 1ottor
pledges him to it. IN his inaugural, the Prosl-
directed to bringing tho currency to par with
gold, aud got Secretary Richardson, who as
Iribcs tho authorship Of his policy. to tho
President, begins hia official duties by Htart-
ovor-issuo Of groonbacks, md by tho claim Of .
nr.hority to isBuo Sill 000, 900 moro than nuthor-
izoa by Law: Tho more clnin Of tho power Inns
!: probably adde1 from to per cent to tho pro-
THE WORD "NAT1oSAL."
If proof wore wanting that tho National Banls
havo prestige, and secure tho confidence of
the public to III extent not attained by State or
private banks, 1t would 10 found in the fro
quont illogitimate uso Of tho word "National "
IN connection with tho na1nes Of so many State
md private banks, both commercial aud
savings banks. This had become 30 gen
law prohibiting all banks not organ
lied under the National system from tho
use of the word "National" III their names. a
in regard to tho passage Of this law which gavoa q
wrong idea Of it's purport, and was construed to
mean tint no corporation would 10 allowed to
uBe tho word "National" " in its name, md u
great number Of lottors hayo been addroaacl to
various of6cials ct Washington by dozen or
othor corporations named "National." The
National Dnnk Motto Company, tho National Firo
Extinguisher Company, the National Laundry,
National soap Boiling Establishment National
Stove Manufactory, etc., all fearing they should
be obliged to drop tho "National." For tho
that I'll tile lay applies ,oesnly to banhs md
the law was before Congress- its opponents
claimed that it waR unconstitutional. On the
other hand it WAS hold that CongreHs, under tho
clause Of tho Constitution giving that body tho
tablished national banking systom that the
syetem 80 ostabHhed protected tho depositor's
interests, by jud0ioua safeguards, and that
banking institutions not embraced in tho sys-
tom, and not, therefore, entitled to the strength
brought to such institutions by the distinctive
title "National," which is intended to chow
that the bank 10 embraced In tho National sys~
tenn, had usnrpcd the name, and thoreby do
ceived tho public.
LOCAL sTocK AND BOND MARKET