The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-06-23
Adams 81 Hatch
AND BUSINESS.
GENERAL MARKET REVIEW.
MONEY NOTES.

MONEY NOTES.
The New York Journal of Commerce says
We shall never settle our commerce on a
stable foundation while these chimerical
schemes Of finance are so openly advocated
and find so many friends in the halls of leg
islation. We must come to a specie basis
before we can build national prosperity
that win not be at the mercy of every pas
sing current.
The New York Bulletin says of the money
market and prospects: But we look for bet
ter rates here, the demand to improve so
soon congress adjourns, provided before
adjournment congress is gracious enough to
to tell the country whether the limit Of the
legal tender circulation is 1856, 000, 600 or
fBs2 coo, 900, or 800 900 900. To the business
community it is matter of supreme i'm
portance that the law should determine
exactly what this circulation is to be, il
being OF less importance what the amount
is. If, however, congress adj0urns and
leaves the treasury to say whether this cir
culatiOn shall be anything between 1856. OOO,-
900 and $500, 600, 900, there will be no basis, or
rather shifting basis, on which no one will
build with confidence, on which cal
cuiatioas can be founded. A mer-
chant who buys stock of goods
when the legal tender circulation is
$751;. 900 600, must suffer great loss if when
sice versa. All that is wanted is that a GER
tain fixed amount shall be agreed on 10y
congress- and that the people in business
NAV know that they will have the same
measure to sell by that they buy by. Then
the greatest risk, because an unknown risk,
will be removed, and to considerable eX-
tent the road to q good business will be
cleared. People will then employ their
money instead of holding it in hand or lend
ing it on call. And there is every indica-
tion that il congress will do so much and
adjourn, that we shall have first-class fall
trade; for the growing crops promise abund:.
ant harvests, and with good harvests good
trade will follow. This year the trade will
be better, for the reason that the stock of
goods in the country is smaller than usual,
and the demand for them will be larger, as
every one since the panic has been buying
very little, and, as they say, the old clothes
are pretty well used up, and stocks must be
replenished-
MONEY IN THE SOUTH.
The Journal of Commerce SAYS: Money is
very plenty. Many seem surprised that-it is
so abundant, and we have been at some
little pains to ascertain the sources of sup
ply. As usual at this season, the surplus of
the whole country is poured into New York
and other money centers, but this year the
flow has been unusually steady and abun-
CANT. singular Is ID may seem, we md the
largest fountain at the South. Last fall and
winter, when there was the greatest scarcity
at the seaboard, we found that a large
amount was locked up at the South; not in
banks, or it would have been utilized, but in
the pockets or chimney OF the
negroes, and in the boxes and packs of the
Jew peddlers and others who pick up some
OF the earlier disbursements. This money
has been coming out as the laborers are
spending it, and the gatherers are bringing
il here. Ii is evident that the South is not
quite as poor as supposed. In Southern
channels where large streams of capital for
meriy ran, and in places where these for
merly accumulated in that section, there
has been moderate supply OF money, but
in narrower limits and more private boards
the fullness has been particularly noticed by
all close observers, and we trace much OF
our present abundance to these compare
lively hidden springs.