, 1874-07-23
MONEY AND COM NJ ERCE.:.
FINANCIAL.

"WEDNESDAY EVENING, Jnty %.
Anything but Il choerlul fcoling prevailed In
monetary circloa to-day. Tho 1uiot tint has boen
tho fonturo Of the market 80 long doopenod into
something worso under tho now revelation Of
our weakness that was malo by tho flro Of this
morning. The evidence lcavos ITO room to doubt
shat throo hours boforo tho alarm was givou
thoro woro aigns Of fro that ought to hayo boon
discovered by the most ordinary vigilancn. 1t
waa generally voted TO DO uttorly dishcartoning
that fro could smoke awny in tho
finest and u,osb t1ltokly-bni1s part Of tho
business distrio. for hours before any
notice was taken Of It. THO prevailing de-
preston was intensified by tho news that, IN
consequence Of tho ilro Of this morning, tho
National Bonrd Of Underwriters Ind informed
the Presltloht Of TIC Chicago Board Tint they
would Withdrew from the city II the municipality
did not at onco organize an ample and efficient
1re-patroi. 1t Is uaclosg 10 dsgliHo tho fact
that thego repontod and aggravated proofs Of
tho dai1y pori1 Of obstruction in which Chicago
Stands arc tho most aorioug blow that It's busi-
moss interests hnyo for long tno received.
Some wenk-healcd individuals doprecate s,ci
staten outs; thoy don't want toalarm tho Eassorn
capitalists. Tho titno haB passed. for alarming
Eastorn capitalists with statoments of aug kind; !;
they arc thoroughly atoused and alarmed by tho
simple fuets Of our receut fires Wo cnu reaasuro
them IN no bottor way than by showing ourselves
to bo aroused and alatmcd to the highest point,
antl looping III, tho acaro till re hayo dono Bou1o-
thing to protect ourselves. One fact needs to be
faced: Chicago cannot bo burned up many
timcB moro without being destroyed. Tho III
torcsts Of great city, its accumulation Of capi-
tai, tho aggregation Of magnificent and costly
storcH anl private rcaidoncon, Of warehouses,
bnnks, hotels, churches, libraries, md public
worha, cannot bo built up At n word. They aro
tho fruits Of tho labora of d generation. They
hayo boon replaced for 1s once; how will 1t bo
wllon VIC bum up agaia2
Tho demnnd foE money to-day was light. Az
tho banks The ratio Of discount ia 10 per cent for
regular customers, with concessions OF or per
cent to trroHistiblo horrowors OH tho street,
money is 9@18 Per cont real estate loana 90
10 per cent.
New York exchange was oaBicr today md
sa'es "ero ere Enado between pansa at 60c premium
for 81 900.
The clearings wcro :300o.00o.
The United Stater ExprcBs Company ntl-
nounces q quarterly dividend Of 90 per shaso,
paSaSlo Aug: at tho oflco Of Wclla, Fargo ts
Co.. New York.
Uultet Statea Trensuter Spinner, In @ letter
commenting htr. q. L. Morriain for re.eccsiou
to Congress-: gives his viema Of tho effect Of tho
onrroncy bill as follows: r.,
Tho Currency bill, TINT became 1kw just a tho
elose of the lac scssion Of Congress- owes tB o1st-
Gnee not Its paternity aa1nly 10 Mr. Mcrriam's in
tcerooms and tho oor Of tllo House Of l,cpreys-
atives knew Tint the idea that II measure
tnat would Produce inantion entorcd his mind.
ls ann laa been to destroy the monopoly fsntnrrin
onr otherwise almost perfect systen Of banking, and
st tho same time to compel 81 Naionnl Danhs 10
now, snl in gold when sreclo payn'ons shall l,ayo
been resumed, ut d common centro. And through
ss:n @ IT, ~ Se saS sns tes Rs 4sass elem
Nerria,n's ihi 70 Slat o,sent tSa ssfroe bsntias Jug
ali alko, and at tho tinc permits e1atinY banks
to rotire tho bulk Of their circulating notcs and co
anne ,heir b1suess Or to Withdraw .a whole aud 60
oIt entirely. tea measure Of nsiou, will appear from
Tue fact tat since tho passage Of the law existing bks
haye already returned = go and that but s3oooo
So 4 appears that nnter tho operation IT Tits free
banking system tho National Bank currency has i1 tho
dhE'o nss*@ Deen a, Ssauss within a iason
t IL III @
arp, End tlu wlio splerntes perfect lroulon and
equal rights to ali It was conceived IN and based upon
correct principles Of banking and Of finance.
THE NEW 5 pEA CENT LOAN.
Tho New York Tribune in it's financial COL
unn says OF thu loan of s170 900 600 Of tho now
por conts otlored TO the public by Secretary
DrBEow:
It quits possible, but hnrly probalo, TINT &C.
capitalize bids uy 10 put III for tho wlolo amount
otIersd. Put srpoae that tho aM Of July givra tho
movement ,nsy ba considered Us aasured ~ Tic cali
for corresponding amount Ut 590n will create new
ea eos e s TA SC 3 n M ,sr sns
tcma.uing Of the 5s aha1l have been takon in. |
Es osx whether ax aassessf a. or not T. t. satsae
mcnt md the first important operaton Of tie Troas-
ny since he days OF Meculueh that haa not anaakcd