New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-29
BRIGHTER SKIES.
REVIEW OF THE SITUATION
wALI~sT SETTLING TO REoRGANIzED BUsiNEss-Tl
COUNTRY GENERALLY RECOVERING.

wAII1sT SETTLING TO REoRGANIZED BUsfNEsS-TIIE
COUNTRY GENERALLY RECOVERING.
The financial situation of the country, though yet
much embarrassed assumes a more cheerful aspect
than il has worn at any time since the beginning OF
the troubles. The two problems specially engaging
the attention of the business men OF this city
are the refusal of the banks to authorize
additional loan certificates and the proposed re-
opening of the Stock Exchange The first OF these
questions promises to further discussion. The
Stock Exchange will be reopened on Tuesday, unless
the Governing Committee reconsider their present
determination.
The Government remains unchanged IN It's res0lu-
ton to buy more bonds, although November IN
terest will be paid in advance. An important letter
on the subject from the President is published to-
day. In the country at large nothing occurred on
Saturday, in financial circles, to change the gener
ally improving condition. In Louisville, several
banks temporarily succumbed to the crisis, and one
suspension is recorded in Salt Lake City. and one
in Chicago. Investigation shows the suspended
banks in Memphis and Washington to be in
better condition than anticipated. In the
latter city and in Boston the bankers have
finally decided to adopt the essential features
of the New-York plan of meeting large demands
with certified checks, and paying out only small
amounts in currency
IMPORTANT LETTER FROM THE PRESIDENT
INTENTIONS or THE GoyERNMENT-THE BANKS
CONSIDERED STRONG ENOUGH-THE Si4,0OO,OOO
HELD IN THE TREASURY AS RESERVE FOR
EXIGENCIEs.
WASHINGTON. Sept. 2s.-The following letter was
written to-day:
EXECUTIVE MANSION.
WASHINGTON, ID. G., Sept %, 1873 }
MeSSrg II. and CHAg l.. ANTHONY:
GENTLEMEN In response to the views you have
communicated to me touching the present strin-
gency in the money market of the country, and the
necessary steps to restore confidence and legitimate
trade and commerce have the honor to communicate
the following: The Government is DESTROYS of doing
all in its power to relieve the present unsettled con-
dlton of business affairs which is holding back the
immense resources of the country now awaiting
transportation to the seaboard and market. Con-
hdence the part of the people is the first thing
needed TO relieve this condition. and to avert the
threatened destruction of business, with its
panyIng disasters to all classes of the people. To
establish this feeling the Government is willing to
take all legal measures at its command, but 1t
is evident that no Government efforts will
avail without the active cooperation OF
the banks and moneyed corporations of
the country. With the S14,0O0O00 already
paid out in the purchase of the Government indebt
edness and the withdrawal of their large deposits
from the Treasury. the banks now strong enough
TO adopt a liberal policy their part, and by gen
erous system of discounts to sustain the business
interests of the country. Should such course be
sued the S4i,O0OOOO of reserve will be considered
money in the Treasury TO meet the demands of the
public necessity as the circumstances of the country
may require. Close attention will be given to
the course pursued by those who have the
means at their command of rendering all the
and necessary to restore trade to its proper channels
and condition. With a view of strengthening the
hands of those who carry out the measures above
indicated orders have already been issued for the
prepayment of the interest accruing in November.
"U. s. GRANT,