, 1874-02-03
MONEY AND COMMERCE.



-
,,,,,,v r,vr.,vn r.h =
nhor, wa, rum. .o,,.,s,, ~ r., ,aa,1 n"an,on a fo,
Auo'e ""n eioas "c.,S'ty VI lornl h''a"oo' ~.
grain md provision trades incident 10 The bogin-
ming nj tho month. Tho 1c1,vorica NJ sturf
,yoro ,,u,,a, oa 80 ~ .hnv,, H., Tin ,nrro
wofo unusually noavy' as Is SHOWN ny suo @ leago ao
oloarligs Of tl,e banks, amounting to 5.400 ooU
and this only included the chooks deposited up
to about balf-,,ast 10 n. m. Tic rreut bulk Of
st,o nott,o.ratn 1,a,.o.o. ,n..a ,,eao os,or that
~ aoss'.uots Hu"oso' "olo n"au ".so a,>si,
tlmo, anu tho oloarings tomorrow VIII probably
DO much 1nrger. The oxtent to which tho pork
md provision mon aro rnnning tl,oir Hpoot,-
1at,on In tnoaa comno1;tica nov attracts
."''oa W.. :" 'uoo" ..a..,a'. =. +. .,ti,,ntn1
a great aoal OF attoht'on. IL is cs'lnia1ou
that the aggregate amount OF pork lara, ana CUT
1ncata, that have now accumulated In Tits mar
kot amounts to uoarly sD,O0O,000. viz: Cut
n,ontu ID nm nm ror,. 10 snf, On0. 1nrd a.
soouoo. VI VIZ akstoease ".no"" IT, " ss1 .mva1
commodities. something ovor one-hall III oW0o"
by Chicago mon. Tho packers OF Chicago liavo
probably $3 too, 900 Of thor own capital Invested,
O. I'm nm -, o. mn nm ,,,ora M, ro,no;r1cr
p.'1oo'oov ~ SouoJou ,'os, o - @ ~ ,,,s aa".ea
of the pork and provisions ia owned nnu enrr1ed
mainly by spectators IN tho country woss OF tlis
witnstaudlur tho absorption Of 90 lerae an
smn,nt ~ mnnov n th,a ono IiSo NJ
snocni"t;on ' tho momnv 'A mnrt,nt cnnttn,,ca
NAV, and M sor M tin annn1v Of monny In cot,-
rori,od. il is favorable to lie schomos Of tue
snocuirtor Thav f3nd m iifIcn1tv in sailing
t{loir porer. and We hear OF au instance OF .
proninont Now York bank taking eloo, 900 Of tha
paper OF ono Of the Chicago packing concerns q
Iaw days ago, showing Tint tho surplus money
III New York can DO drawn on to aouio ortont to
1asist tho pork and provision speculation.
Usually tho por-pnekors uro shipping and realiz-
Ing largoly Mt this time in tho year, but the ex-
pmlsioli Of tho enormous load Of railroad bonds
duccd the surplus capital to aeek Investment in
commodities, and though tho speculation pork
and provisions llaa already boon run to ar ,ln-
usual cxtent, thoro is no telling how much
further thts condition Of tho money market may
and tho provisions marketed abroad, as thoy
must be sooner or lnter, thoro will DO plothora
OF money in this market.
New York exchange continues steady at about
60c per 81, 600 discount.
MIR. Calvin T. Wiooler, for the last oight yoars
Vicc-p President Of tho Union National Bank Of
this city, Inns resigned that position, with inton.
tion Of going into tho commission bneinoaB, in
and West and tho promise OF D large business
Mr. Wheeler has been an efiiciont
bank officer, and boon popular with
the public; He continues hs ono
was really decided OIL ai1 months ago, but the
advent OF tho napio mado il necessary to defer
it until now. NO ono has been elected to fill Mr..
Wheeler's place, and for the present the duties
OF his office will levolve on Mr., Coolbaueh, tho
prosidont.
WHAT WILL CONGRESS- DO ABOUT THE cunnESoY2
is getting to be ono Of tho commonost md at
The same time one Of tho most unanBwcr-
able questions in financial circles. Congress-
itsoif fs waiting to find out Which ia tho most
nopular view. and will probably alopt that
Regardless Of tho principles TINT govern finances
ana currency. But popular opinion Is itself as
uncertain al the wind. A yoar ago tue majority
OF tho peoplo wero disDosodto advocate a return
to Bpocio Dayments. When tho panic canlo. and
curroncv wis honrlet and became scarce, there
was a loud cry for imitation. Within the iaBt
month tho increasing abundance Of luouey has
begun to show poopio that tho case OF the money
market does not depend 30 much on tho amount
OF currency as 1t docs on confidence III tho sol.
vency Of the commercial community and
tho legitimacy Of the enterprise for
which Eooplo seek to borrow. As for
tho currency, thcro aro aeasons of the year
when there ID too much and othors when tlcre
is too little, and the only thing necessary to
soe q POM ee e.De Neng e VIII o Dc
tbia 90 efTectaally az FREQ banlsiur uunittinn
the banks to iggrio a. much curreucy as thoy oan
Heon IN nut et tue e t
rI,,. o~1aua;o,, ~ az Enni, o,,rro,or s,,ni1
establish redemptionn OF bank notes. flrat III
greenbncks, aud eventually in specie. The Bank"
ra5ortcd last Tr3,v nrnvj5cs FIR tn;s flaIibiliiv
ond craIl,ni onnrccntion of tin currency ns
onectuaily as nny moasurS that congress VIII 1 PC
nbo to dayise 1t it SHOULD try AZ winter. The
Of $s, 900 ooo nor month Of LEGAL tandor Treasury
notes releeu1ablo in two 'yoara in coin, ia .
and WSnd cause
+L 1,;li r. =. ~, no-root r,a..vxo -. -, ~
dav;sad " T'nt 1na : font;nn ~ tha Xii avn ao