, 1874-05-08
MONEY AND COMMERCE.
MONETARY.

Tho movement OF currency 10 tito country III
increasing. Tho opening OF navigation haa
started eastward q largo amount of tho Rtu"i
holt back during tho winter. Numbers OF tno
country banka aro thoroforo calling upon .!'o
lanks In this city for currency. AZ tioy ones
New York exchange for it in tho majority OK
caseB, exchange must woafsen. and will Pfooao'y
bo at 4 discount in short time. Tho rato to-aay
VIVA par to 25c premium for sl.Vuo. 4aefo
were few salos at 69o premium. ....
In thu rnntter OF collections much the sntne
distinction must be 1ua1o Tint obtains concern
tue galas Collcetiona, r,llo, aro not reported
difficult bv tho uousoa that havo boon doing .
euardoa business. soling with caution, aud CIV
ING credit only to thoHe that can DO ,derondod
on for Payment. Thoro aro m h9snaes' s'n large anu
f,aut]od lasis ANXIOUS to soil, and to soil large
", they ppc1l their booka to nliaocllanoouB GUS
toners, and inevitably. fnd collections ofton
hard, uud sometimes impossible. Thoy COM
ionlth md not Of disorder. It is beat for them
mud boBt Tor trado tint they should suffer from
poor collcctionp until they learn tho lesson Of
more careful b,sineuB. -.
debt in tho community is sign OF tho batter
condition Of business atfntia Careful inquiry
in great many different directions Bhowg thnt
nobody owes ns much as Inst year. A vast NUM-
bcr Of debts lave been 1iqnitated during tho
past fow months. Whore money was not forth
coming, property was transferred. Dobts wore
oifaet ngninat debts; notes against notes. The
general tendency haa been directly nTny from
tho assumption Of now obligations; people have
economical in large ways Us we'll as smnll !;
inetcad Of undertaking q now enterprise or
speculation, they havo been content to settle tho
acoounts:of sonle old one. Those are goneraliza-
lions, Which avory ono's observation aud experi-
e,,ro will satisfy. It is but few weoks sinco
1xnH5 5Sahr 1tt0 0fDf n
speculators in tho city sold property to tln
amount OF nearly quarter Of d million OF dol
lars. Inquiry showed TINT tho transfer waa
mndo to meet paper falling due md for tho pay.
not siugla cass. The process has teon going
on Tor months, aud has been one OF tho most
efficient caltsea III producing what can bo do
carcl to bp n healthier nnh safor state Of trado
than that which existed boioro tho panc.
Public opinion has not yet had timo to pass
upon tho now Currency hill proposed BY tho
Senate Finance Committee and discussed in our
editorial columns. The Judgment of most Of onl
bankers ia in itB favor. It is neasuro in the
direction Of specie payments. 1t maees definite
tho stops by which the Government n,eana tc
redeem it's broken promises to pay, and fixes the
time. Its effoct OH the public credit cannot bu
be good. Tho provision for the rcleaae OF tlt
rosorye now required against circulation is ap
tion fund at Washington Of pe
cent OF the circulation 1t is general.
thought will ho moro convenient for the bank'
than the lrosont haruasiuS arrangement TO-
tho redemption Of mutilntod currency. Al
for the reserve against deposits, tho banks
would keep them whether required by law or not
BY providing that all reserves must be kept In
tile vaults OF tho banks, and not with their re-
deeming agents, the bill outs oil the interos
which Ina boon paid in Now York on deposits
and to that extent is disfuSored by some Of tht
banks. The important question Of tho effect oi
the bill on tho volume Of The currency Ia consld
cred o1scwhore together with tho efficacy Of iti
plan for tho resumption Of specie paymontH.
Tho rate OF discount to-day was steady at So
10 per cent OH timo, aud 2 or 8 per cent less fol
call loans on tho best security, The domand fol
money is growing better:7
LOCAL STOCKS.