, 1874-02-14
MONEY And com MMERCE.
MONETARY,


~ ~ 3 " ~
amounts to loan on couaterals at ~ per cent
But the demand is insufficient to the supply oi
money. 9orrovers see that thcv can get the
1oar,o1- .. ,ar+ ~, +1,;r+rdov ,osna inst oe
49,. as = -. 49, ~ e:,.;s $500 ~ .
wen as 10 pay ~ anu aEo "sAins . nSanu - 49,
and sixtv-day loans ut per cent, and doubtless
ao,a .ra made al ner cnnt in the omen market.
:ho,,.t, ,o,,a--y -af,so ~ ac1nowladoa tbo rodrc
.aoosI ns...s1..;s1, - -.nra.s;. .1,e w..
noo- tnls aeeu.un'sN'oa =. H4eAos - .ue "es'
Eeems to be partly due 70 the 1act that there Is
1eas speculation in railway stockR aud less bor-
roxinr on new railroad bonds in New York CITY
-. g. ,.,1 ., ho hot,,a .,,1 x,,,,;.
~ snaa sne'o 17.. '"' tSu'e :.
ihe coAnPse Oh spec"auSe sencsnes 1ass
fall diverted money from those
channels of investment and directed it into
sneculation in Western products Nbiln il ia
nut probable that tic farmers Of the West under
stood this well enough to think that nrices Of
speculation that must sooner or later come to
an end mud allow prices to recede, tncy have
at least. for once in fnnany Years, bean scnsiblo
enough TO sell their pork, ard corn. and wheat
freely. while thcy would bring good prices This
is doubtless yet the feeling Of tie wboat-gro
and ehippcrs Of Northern Iowa and Southern
A1innesota, who are sending their wheat to mar
ket in gurf' large quantities now.
For nearly y north past, tlera has been a
modernte but constant movement Of currency
IIIInniH Indiana ND
h1ichipan to this citv and from Lere to Northern
Iowa Southern Miunesota. aud Northern Wis
consin. Some of the banks horo estimate TINT
not less than s.. DDO, 600 OF currency have been
sent to a half-a-dozen towns. Eko IcGrepor.
Lansing md Winooa in the rreat wheat-rais;nr
d;strict norttlwest of here in The last four wees
Scarcely any currency Las come back from TINT
drection 3ct. IRON which it NAV bo iuferred that
it is in active circulation in that quarter as it
was in the corn and pork-raising districts nix or
4
wheat will continue In this view it seems scarco-
IL rossib1e that nriccs Of wheat can I've sustaincd
even at their present firures. mi. aside
frnm tY,is 6si,cct of tbe cnsc the
world han had an effect on the foreign markets.
Inv r,cv11,ttiinp a1nnrts of wheat from Odassa
d;,r;no rnontI,s 1yl,cn It hns scl3ono haon nrac
ticnIle in former yearp.
Notwithstondinc the abundance of ,noner in
+a citr md thrn, ,n1,ort 11,a Wnst Il ie froonont
II rerncrkej TINT - iralo ia dn}l This i trne
nj eon,e lines of business The vho1csalo dry
Goods traie is dull. bu: it always is 90 nj this
SEASON If tim ye,r Some branches of manufnc
turinp are ,nncb dcuressed and the retait trada
OF the city ia a1ao dill tartly because manufac-
turing in depressed. and partly because
thero ara ton r,anv nconle in tho business.
In fact. the tendency of the last
tan years tas been ia an excessive Composition
in tho business of buying and selling goods.
T'oo many neonIe have 6oen irving to live hv az
chanrinr co,nmod1tios insteed of nroducinr
somethinr and it is The desire to ralyanizc trnde
into q TEMPORARY activity that makes the SUPER
tiuoas traders imagine there is a necessity for
more currency, and induces them to circulate
petitions asking Congress to initiate the currencv.
The fact Is. tl1at trada is moi unnecessariIv d.
pressed. bnt tnero is updonbteoly an excess at
traders. In proof OF tho Statement that trada
is not depressed it may be mentioned shat ncnr-
sold by Chicago dea|ers to tha conntrv
west OF this CITY during the month of Janu,rv
last rs wns sold during January If any preFious
wear. There ia perhaps no braach of business
fransacted ia thi5 city Y},ic1, ia eo rnod IN in-
dcx Of tie state Of trade and The financial con-
lumber trade. Farmers never luy lunhnr far
fences and other improvements unIcss thov oro
prosperous, and when ther are so trade il rood,
Wo conclude, therefore, that the Impression
The abnormal stimulation Of trade from tic Ak.
~essiye railroad hui1dine of the to,, vaorauo -
.lout q wear aco Las been withdrawn, and r. ,ef.
.rale to diminish to legitimate, healthy VOL
amc.
TEE BANKRUPT Law.
II amended and passed bg the Senate. reouires n
zrent uany changes in tLe details of the so.t1e-
iuent of bankrupt estates. but the mnst imr,or-
.ant amendments ara those which rc|ata tn tho
stability to bankruptcy aud the conditions Of dis
charge OF the baukrupts. These are.
F5;-st-1hnt the pcriod Of eusncneion NJ nov.
ment eha11 be forty DAYS. instead Of fonrtaan
before q debtor is iiable to petition in bank.
ruptcy, '.Any person who. being banker |
broker, merchant. trader manufacturer nr
mincr. hag frauduleDtly stonped navment' a. has
stcnped and not resumed payment within y
period Of forty days OF lis commorciaI paper
made OF passed in the course Of his business as
such, shall be deemed to have committed m act
Of baniruptcy.'
Second-The petition Of creditors must renre-
sent one-fourth thereof at least in number. and
the nrgrenato of whose debts nroyat,{o hinder
this set amounts to at least one-third OF the
debts so proTable; provided TINT such petition |
is brought within six months after such Art of
har1,,,otcr aha11 hnro boar co,,rn;tsa5 r, ~ 49,. ~
1rt; ~ ss,'.s,.a- ~ a-sa;tnua - ~ ! Soln
M pe -.o Iu.11eA ~ N111.'ots, .1one "uose
coPoSsi,e . o5utS ~ not cAceeo V-oo suau uoG DC
rachoned put, II there be no creditors whose
debts exceed $3.50, or II the requisite number Of
creditors holding debts exceeding $3.50 fail to |
Sign the petition, tho crediturs having debts Of
.ees a1aonnt shali be reckonea for f53a nnrnopa |
1fnraRai1 |
= 71s:.g w. .:a, .1.-... =. ,,,. !
11-cH ePecIi"Iu Fetceuka6e VI ucpts is
10 oe paia " 8n Involuntary bankrupt
oe1ofc ne can be dschAf6ed- AL percentages OF
indebtedness required to be paid by the Old law
re repealed. ind his discharge ia continpant
5n1y on the discretion of the Court