, 1873-09-24
HONEY AND CO NJ N { RCE.


Tho general aspect of ilnauclal ntfairy was
.reatly improved to-tlay, Notwithstanding the
r,,n,or Of arothcr bank-suspcnslon til Now York.
1l,oso who took superficial view Of tho matter
goro ready to assert yesterday that oon!1onco
was "fully rostorol." Wl,i!o this may hayo Ind
some good olfcot with cortnin class of porsons,
others did not boovo 1t possible go soon. Tho
reported suspension Of Horny Olews t. Co., Of
Now York, doca not surprise any bnnkor or othor
person who l,as understood tho real facss Of
Tho panic. In fact, Liz suspension was pre-
dicted hore In Chicago last friday and the only
eurrttBo WINS that tho house was able to 20
through this far with its cartload Of Southern
Slate bonds authorized by carpot-bag Legisla-
turcs. Tho bankB and tho people Of The West
havo but litio interest whntevor III tho banking-
hot,He Of Horny CLOVIS & CO. Tho interior cor
respondents Of the house arc principally In tho
Southern Stntes. Noithor il tlioro any probabn-
fty tint tho suspension Of ClowB will mako as'y
real gro,,ntl for the suspension Of tho other New
York banks
Tho condition Of each individual bank member
Of tho Clearing House In Now York Inns boon
known to all tho other members Of the Clearing
House for several days past. til times liko the
present any bank is pretty thoroughly inyesti-
gated by the Association. Tho suspension,
therefore, can bo no surprise to tho othor Now
York banks; in fact 1t may be mainly duo to
'thoir refusal to sustain tho house any longcr
TINT has caused ClowB suspension.
In tls city, the day has pnsyed very quietly,
nn1 there is every renson to thiuk confidence Ia
being restored. In fact tbore WAS neTcr
any reason for loss OF confidence hero. As far
lib can be ascortainod, there is not bank in Obi
cago TINT has 1oBt doliar OF hnd my funds tied
up IN Now York by tho suspension Of banks.
A feature Of much Importance in our local
finances is that tho romittances Of currency from
New York to Chicago, which woro practically
suspended during last Friday and Saturday, ,woro
teBlmed again yesterday, and the first liberal
,onittances Of curroucy received by Chicago
banks from Now York viii como In tomorrow
'Wndncsday) morning. The knowledge TINT tic
Usual machinery Of banking in this particular
IL IL; operation asnin will do much to re-estabsll
euidenco. Confidence, that most ucnsitiyo,
subtle, orratio quality Of tlle human mind, fs in
tat, the basis Of banking, and yet it mover exists
In accordance with the wealth md integrity
Which it is presumed to represent. Two weeks
ago thero was moro con1douce than tho real con-
dilion Of finances warranted. The collapse ot
Thu various speculative schomos aud Tho down-
fall of tho chicf promoters. haa booil
weaith Of tho Country is so great
Elllt 1t Hal defGrreu tle collapse uI
these projects aud BpoculationB until mon bo.
gar. to doubt uhuthor they would fail. Now,
however, there is O great deal 1osH conildence
tIsn tho rcnI condition of tho country warrantH
Without confidence, the ordinary transactions ol
commerce and buakng arc Impossible. There
fore, the Hoonor tho business Community return
to 4 com1non-scneo why OF vlowing this whole
financial r.,pus, tlo SOONER t4ev will got to do
Ing busircss again aB upual. In tho county
tributary to Chicago especially IL this the caso
There has been mud s not lioly 10 Io any great
1oss to anybody in this part OF tho country. OK
cept what they inny voluntarily fntiict on thonl-
seiyes by lhcir OWN Generalization.
New York exchange il unsalablo yet to any
extent in this market. Tho bnults hero do not
Of courBc, care to increase their New }o:k bal,
ances By taking exchange until finances in thai
city have rosutIod their normal condition.
1t lB, Of course, understood TINT thoro has
been very little movement Of currency since tilt
middle Of laHe. week: The great bulk o
the currency had been sont into th'
country in tho five woels previous tt
tho Lanic. The 1noyenont Of currenc,
from Boston and other places to-day to bu;
stocks and bouds, aud the large anlou1t paid OIL
by tho Treasury for honils las increased til
stock of currency III Now York. alld permitted th
renewal of shipments Of currency from No'
York to this city.
LOCAL BrooE AND BOND MARKET.
q fo1