, 1873-08-08
MONEY AND COMMERCE.
MONETARY.

from country tlopoatorH to luovo tho cropH,
but scarcely any increase Ia notiocnhlo for the
past two or tllroo days.. Customers who present
good business paper for discount are supplied
with all tho money thoy ,yaut, mud moro would
gladly be taken were it offered. Discount rates
nominal Mt tho loyal figures, viz, 10 por cont.
Exchange continues rather Arm, 25o premium
por s., ,000 botweon banks boing tho usual price.
solling to customers par631-10 premiun. OF
course tho lower rate is for good customers, who
gos their exchange tho year round ut par,
stEoot paper ia not worry abundant. but ratos
nro Unchanged viz: 1@2 per cont por month,
with commissions. Usual average 1915 pcr
ceutpor month.
OCEAN FnE1anrs.
Latt week yvo had an nrticlo On tho depressing
offoct tho high price Of ocean frclghts would DO
likely to layo OIL tho financial intorosta and tho
prosperity Of tho Northwest. Tuostlays Duffa-
10 Commercial Adue'fiscr, Aug. q, has m article
on the samo subject. We quote:
1vaTr*,i at freight 81 27o i,or Dlahel. taken
from Cicngo to Nav York by tato and canal for 15ea
bnaho Including elevation an srans1orring st a thz
York !rinu tle month Of July vas only triilo IL e.
cvss Of ms. The average by ako on corn ysas etc,
147c tbs elevation q. tis port Ia Lac, uaklnR tho
total cos between Chicago and New York for trans
Tnftntl04 NIL tEhnE1GIfllB G1pCllhtb l1saC.
In maiEnB Tits comparison II must bo remembered
that tho ast Of moving property In largo vessels -
3n..e}! leh than that of moving 1t ia ANAL onos This
Az the caac!y Of tho yessoa on tho lakes increases
tho ratea Of frpglsta decline. II 1890. whom there
ty, to average freight rato fof July On corn was ooc
against 5sc ths year. Then. again, It should also bo
&c 60 10 o sato "a TOLLS No chargoH Of this Hind IRE
assossrd on tbe oeean-golnE vessels. ...-,.
Now If lake and canal vtJacla abo to carry grain
tho lnftei nf tim
dsanco Of nearly 500 miles for AT Cents and ray out
Of cents TOLLS what nst bo the rro Of tho largo
for crohsnY tic ocean7 y is ttuo tho distance in tho
latter case ia greacr but t,at ia than balanced
with sat by l.ke mud canal. The timo consumed on
IT, ocean voyage is not greater than Is REQUIRED to
A vas e"srca M Nv
for,c as to tho oxnct freight She received but maat
grain IT. h,k At these figures must be enosmouB.
One Of the roasons why frcighs Oh the 80
ar uny Two or shrco American vsesen In lilo trans-
Atlantic tradc and they hnve rccently been placed in
somnsslan conn by tho pannsylYania Central ailway
Americans unfortunately hayo to pay tho greater part
OF tho freight money,
Against tho conclusions from thu above facss
by the Adrc'tisea, shat Congross should virtual
ly Rubsidizo ocean steamship linoH by giving
them largo prices for carrying the maflH wo
earnestly protest. That Groat Rritain has tho
monopoly OF tho ocean-carrying trado is only
to mt ~ hnn ii nor Tonsoownors ara ab!o
only way to SECURE I'll ofrootunl remotly III for
Goh6foss to abolish our oppressive tariif. That
suc onoTnos ~ fre;gIsta tn"Hss M arc aow anb1oct 20
OF Connrogs. If inv dnpoeoT ~ snp & &Hsap1dity
tiuo to study up commercial affairs tl,oy riyo IT,
s9alary- grabs and Credit Mobilior villainy,
tornino m fran tra5, in al,;na my ny
Mi ta 1,,otoro,u ;het o'tar into 4,,o nu
and tlo uso Of tho,n If tlo is to 2n cnnts nar
buyloi now extorled in tho shnpo Of ocean am
froiplts could bo addel to lin nr;cos oo;d onr
fornern. Tho iucrenso of THAR rccn;nts Tor t,,a
present crop would make our people happy and
n,ta1 Sron " - foln'Eag PURPOSES " shomia 90 a.
useu in oecar, raSnoa M'o hlau . a,l gpn.s 10 pg
that these aro great prlvilssus @ to grant to aoy
tho oaao viii .iuatify Grantin tew the 4o,lon mo OF
torial doyelopn3ont of a:g {a Wg. 'uom. Ihe ma
the want Of better conven;enoo, 20 - ior
trade and tho millions upon millions or Of oa1a oiI
products and i,nnrts 1n,v m m On american
ers, wou roulIv nart 81 r. !. ~ .,nii doIolen
our own poopio." paw - ~ e1'"'o re'ufn 10
In ali ths We cordially agroo will, tbo Ad,or-
commerce s"n ho o,t;t1aa tai'ons 70 S cur ocean
borleft of English sl,;nwr@,t0 1osnai u.i tor .ne
and capitalists and for fj,a soassa owhoIa
American shippuildiue una or Hmarinnn o1
mercc" Such It rcnftv 10 E-o., ti: ouiu- @
cluylpn tlere il, M oscano '0 r,o ol ts t.ls con
mont Gun best yubuuryo tno intorna,a ~ nIeo- a
own pockets by nefonntoroI,v don,a,s,;, ~ shon
peal Of tho tariff on slj1buiinp itad thn5 hoor ~,
done three yoars ago thoy would NOW h. astt;v piv
from 10 tu 10 contu ,,er H,,sol ~ ~" w be1!g
and corn moro than tbov do Yor ri r snv ta;a "uns t;
hundreds OF American yeasa1a ,ro',I5 'sn nnn ''lo
lucod ocoat-freirhtn tn jeas than iai, ,,ot ~ "
now forcod from tj,cir L. .tt T. "at -
nlunopofbts OF the cominD fraTa Ior ~ r;a1
Of this monopoly. wa rencnt t1st onr fnrn
erB hayo their own Concrass IL blamo wa A'sAAA'
THE wEL1AEp oASar, rSHAmnrMsrr
~. I,uxrALo, Aug. 9. 1871
Sir notice in your :" Monetary" article, in
,ssue of tho 5th inst. your reference to tlo on
iargenent Of The Woilald Canal Tho Canadians
contemplate widening their caual, ita t1onth ~
wator IL to bo but u feet. which yo viii rnc,g.