, 1873-05-07
MONEY and COMMERCE.
MONETARY.

Ietsp1. o.,a.esa 1ss",'., to,,or1 n.y. ~
IAs e1aaua. rus. IT,, .nn,,ilion not on1v IN
a.a o.o '"s,a, Ink In t,,o 1,nstorn ct,-
sno ioc"' "onoy 'uA' No. ~ ,aa rho a,,+n,, -
los, tB apparent from any 10 uay; !nu ny hupp.y "
money in tho open market IN tala CITY ~ l@rgof
than 1t was wecls ago, and borrowers who fur
n{.h nrime co1latorala rot yhat thoy want With
A., a;f,ou1tv rho nnon1np NJ 1n,so nnvicnt,on
ou' o,'4oty o spoe .,' ~ o - ,,re.'
a. making an lhcFo"se III .no Volun'e OF western
produce shipped to tho East, and In return It
cauBes q movement Of money from the EnBt to
tho Vast Nav yor,< oxc1,onro baa dronpod
49,, rn" -, nm ,,sa,,st,..,, 49, a,,,a n,to
from ooo Per s4,ouo premium ton oays "so'
to 600 per $1,000 DISCOUNT at prosont.
A very little moro dociinu will cnuse flow Of
currency from Now York to this CITY. The
r,ozon,ort - o,,,ro,o tro1, toro ~ ,,,o ro,ntrv
o'o".ns ~, " .ue4os'oy 41out ,ote ,,. " ~ .o.
is gradually increasing, and indicates moro
active marketing Of cropa, which will mako an
Increase OF businoss in MI dcpartmontg Of trado.
rur sr.rv ,.xv ron nAaua
etrn trao I1m ,,,. 1J laror" - .,,o 1ooa,o.
tuie ., Ibis State for tho regulation Of savings
banke and otor bnnks organized unlor charters
of tho State OF Illinois. or theac, there is but
ono ,hat moots the o1{concfea of Tho case, viz
tho ono introduced IN tno oepa.o 1oo'
II, by Mr.. Starno. ThiH provides Tor
quarterly hsasoments to bo pub'ishod In
aor. do;1v manor. showing in dotail tho
hs1,tf.r ~ 41,o },,r1, oo,nr1t..tr ~
asaota anu aaolllsleh ot .n' phna Aecoiu.ng M ~
eight specific requirements ombodlea IN THO olll'
This stRtoment must be sworn to by two Of tho
o1cers, besides two Of tho Directors Of tho bank:
Tho bill makos 1t tho duty Of the Auditor OF
State to examine, o.: appoint, some trustworthy
person to e1amlno tho actual condition Of each
bank, aud mako d full and accnrato report III
writing 90 ofton Rs once In four months, this rc-
port to be filed tn tho Auditors oilice. Nhen.
ever 1t shall appear from such examination that
any hark Ia in an 11naOrnl condition, 1t is muuQ
tho duty Of tho Auditor to publish tho report.
The bill provides that III case tho otficera OF
banks shall refuse to giro tho E1amtner nccoss
to their books: or TO furnish Linn all peedful IN
formation rolativa to tho condition OF the nseets
and liabilities Of the bank, tho Attorney General
ehall commence n.lit against tho bank IN ., any
court OF competent Jurisdiction to compel thon
to comply with tho law
This hill Is compact, comprehensive. ana
sngent Ine5e 10 Gny nne p1nt On
aminatons at least onco In four months. Ihla
might be modified so az to require at least ono
examination III yoart and as many
additional onea during tho ycar
aa the Auditor alnll doom requlroa ny the e1l-
gencies In tho case OF my ono Particular bank.
II the banks publish quIrtorly sthteHents SNOW.
Ing IN detail the exact amount or oach kina OF
bonds and other securities they nave on hand,
md tho exact amount OF every class OF thelr lla-
bilitios, and this statement is sworn to ny two
Directors, it will go far toward putting tho on
tire business Of banking Under State charters on
aonndet bas!a. Ie business M. pan.a PUBIC arc jul
as competent to 1uuee Of the soununesB @ o. r., I,
great point is to know that tho statements pnb..
1ished arc true exhibits Of tho real condition Of
tho banks. Tho provision OF air. starno's bill
TINT two OF the Directors Of tho bank, besides
tWo of it's officers, shall be required to swenr to
tho correctness Of tho statement, Is calculated
to mako ut lEQSt two OF tho Directors OF each