, 1874-01-20
MONEY AND COM MMERCE.
MONETARY.


MONDAY EVENING, Jan. 10.
Tho money market continues to work very
close yet, but tho detnand Is not quito 10 active
az Il waa, and there nre some Indications Of a
relaxation. There appoara to bo plenty OF money
IN the country, rs the merchants arc collecting
win rood succeBa, an} It Is vol known tint a
good deal Of money IL being sont In by country
banks to invest iii commercial paper III the opon
marriott, Some OF this comes direct 70 tho
La,ulA of brokers, mud some is sent by tho
country banks to tholr correspondent banks In
this city.
Now York exchange was depressed ngain to-
day, owing mainlyto tho scarcity OF currcncy, but
partly, alao to tho Increased supply Of exchange.
Sales wore 1nado between banks to-day at 900
and 800 per 81 900 discount
Tie country dolnand for currency grows small
or every day.
MICHIGAN DANKH.
A correspondents at Lansing, Mich, bonds ua
what purports to DO dotaslod tabular statomont
Of tho condition Of all the banks in tho State, as
shown by thoir reports malo to The
sta.o Treasurer OIL Jun. ]. The figures
In his table aro so inaccurasely
p1acod md footed up, TINT We can
lnaAe no use OF tho table as q whole. Wo aro
able. however, to eliminate from It the facts
that there aro o!oyen Ssnte.chartcrod banks In
the State, VIA: buy CITY Bank Of Buy City, cap.
it'll and surplus $l030o0, deposits s6s, ls4 City
1862, deposits S16l.8l Exchango Daus of Dig
llapids. capital aud surplus s55,o76, deposits
kGG.O7]; dorman American Bank Of Detroit,
capital and surplus $l00, 900, deposits s991 425;
Jackson City Bunk Of Jackson, earital $3.50, 900:
deposits s200,5 ,559; Jackson County Bank of
shsnics S' bans Of Detroit, capital slo5. .ooo, do;
posita $s27sls Merchants nann1aeturers nsan dso
PGs'tS isaehester eapita esos5a deposits
RsS, ,7G5 State Bank Of Bay Olty, capital sl63.-
900. deposits s89. .391 stase nank Of fenton,
tap,tal S;5l, 700, deposits S30.054.
Ut tho savings bauks thcto aro ton, as fol-
lows: Adran Savings Danl, capisal s., 600, de-
posits $5,171 !; Ann Arbor Savings Banks, capi-
!al 500, 600, deposits, 3l01.1l4; Detroit Savings
Bunk, capital s292 QUO, deposits s, sl,49l ,6ll
t51 900. deposits s64,l6o; Grand Rapids Say
Jugs Bunk, capital 100000. deposits SILT ,253;
Lenawee County Savings Dank At Adrian, cap
tnl $cl $50. deposits sl92 pooples pSe say,
t7j2,524; Port Huron Savings Ballk, capital
Zoo, deposits $10G,5G5; Wayne County Say
ngs Bank Of Dotroit, capital $500 deposits
bGM9li: Wyanlotto Savings Bank, capital
i Tic assregate t capitaI Of tho eleven State
banks is Il 1o5,s70, and tho aggregate deposits
t1.737, ,030.
Tho aggregate capital Of tho ton savings banks
y s767,dJ and thoir aggregate deposits -, $751;
alG.
Our correspondents intimatos that some Of tho
banks arc not in d latrcssnglY healthy condl-
lion. This We think quito probable, aa there are
Several kiuda of ailments with which D good
many bnnks in this State, as well as Michigan,
arc afflicted to somo extent now. Some bauks
have too many bonds" but The Significance
Of tho void "Londs is very vague. They mny
be worth something Or nothing. hlanv panks
LII this caso tue sick ones generally pair off and
try to bolster each other up by taking each
oihcr'a obligations. This applies not only to
State baukB, but to tho Nationals, and ono OF
the most unsatisfactory items in tile s.atemeuss
from other bauks." During tue Inst few yeara
It las become common thing for tho officers of
Nationa! Banks to organize savings bank aB g
" feeder" Or another nltans to catch deposits.
Often when the officers aud Directors Of tho Two
bachs arc composed OF diiio,o nAn,os it il we'll
known that they hro practically under tho samo
management. The II angement, however, gon-
erally brings-as it snou!d-disc.euit on Loth
Tor III most caseB 1t ia only meaus Of covering
up Tue weakness of both.
THE DEMAND Fon INITIATION.
10 The Editor u The tAicayo 1t7tuus:
beliovo you admit botA sides OF tho financial.
M well rs other questions into your indepeuG-
ent paper, notwithstanding you incline some~
what to tho side Of contraction.
Now, do not propose to offer my plan or
"modus operandi !" Of regulating tho clrrcnc,
question tlcfo arc too many Aloat nlreauy. l
viii only offer d few thoughts on general pin
ciples.
/ do think tho policy Of Carl schurz and
many others to take advantage OF the late
pasiic aud present atrngeucy to continue the
pressure aud force tue country to specie basis
tho moHt disastrous policy TINT could bo
adopted. It might bonelit q few at the expense
oi the many. Tle dr0ncs, tho do-nothinss, and
those that always keep themselves ii their
shells out OF harms way. might not DO material
to Lyo on. Tie sAylocAp, tho por
cont month mon, who are 30 prn-
dent and saving Tint they cannot atiord
to patronlza tho broon-maker to sweep down tho
cobwebs III their otllsy office would reap per-
feet harvest. But among tic working bees, the
active. tho energetic tho eutcrprising, the yoly
cahs that keeps all oul industrial pursuits nlov-
ing. and makts our country the wonder Of tho
world. 1t would scatter blight aud almost uniyor-
eal ruin.
i is an eosy matter for reporter, with PEN
cll behind hia ear, to ca OIL a fow of tho eatllng
oanss, mud tho pork aud grain dcaors, and re-
port IT, everything lovely ana tho crisis over.
The grannry aud pg-pen, around to the CLao,-
her OF Cnmmerco to the banks, and then back
again. This cbb aud How ia an,te rogular, mud
10 all right Oh for as it goes but it fuls to
reach the masaes and general business interests
Now, let tic came reporter. or any ouo olse
Who is curious to fine, out, turn from tlns
channel, this sort of gull stream. Mt right an
Elcs, and 60 out among tho poopls, aud lo will
aild g atringcncy aud depression lle little
dreamed Of. Lot him go all through the couf-
sry and inquire Of tho rosaii grocer, who por-
haps has better opportunity 10 understand the
public financial pulse than any other class, aud
got their report.
They will toll shom TINT many Of their best
IND most relllblo customers. good men a,,tI tim
:he men tnat koop tie wheels Of socoty moving
:annot pay for their sugar and salt, Simply be.
sanae tue eonera! circulation ia uoary dried up.
IL is common and very fashionable now for
pooplo to cry out, both III tho papors and out
that We have too much speculation, too mauy
railroads, too much enterprise. Well, grant that
TIE nover-tirng energy Of our people gols lit.
tie ahead Of tho wanta OF the county occuglon-
a'ly, what Of Il? It always regulates itsof. It
frequently iujures, and sometimes ruina, tho
pr0lectofs, 1nt helps the country at large.
Take. TOR instance two rai!roaJs-the Eric and
Illinois trGi,-both commenced ton snon I,v |