, 1874-03-10
MONEY AND COMM ERCE.
MONETARY.

NoNpAy EVENING, March q.
Tho advance In Now York exchange 10 par to-
day, aftor having continued At n discount for sew
pral months, iB intlicntivo Of culMstlation IN Tho
marketing OF crops al,l tho consequent movo-
mont of currency from tho country bacls to tho
citioH. Tic fow wools that will Intervene bo-
tweon now and tho opouing Of navigation will
probably bo oyon ln]lor iii MI kinds Of trade tan
tho last few. Tho country roads aro III bal COLI
dition everywhere, aud by tho timo thoy aro bot
tor tho farmers will DO busy with their spring
: work, no TINT receipts of all kitMs Of products
are liholy to diminish. Shipmonts to
the East by ra aro also likely to fall OF In nl'-
tIcipation OF tho opening Of navigation. Tho
spring trado In goods Of Nil kinds is alHo doInyod
oyon now, to so,no oxtont, lii consequence Of tho
unsottlcd aspect Of Tho currency question.
While it Is not probable TINT Congress- will do
anything this session 10 cn,lHe much, II my,
chango In tho valuo of tho currency, tho nttcn-
ton Of pooplo hns boon turned in TINT direction,
and, without boiug ab'e to give any particular
rcason for 1t, country merchants md othors who
havo largo purchases TO mike seem disposed to
"go slo "" until after tho currency question In
Bottled.
Money continues toaccumulato in tia market,
anu wo ropoat cir quotations OF Saturday, Viz:
sper cont for thirty and sixty t2ays. antl to
pur cont Oh call. lilo supply of money for lonn
OIL mortgages is also worry largo, being much In
oxcoas OF tho demand, though rates Of intoroBt
In this class Of loans aro much better Sustained
than for commercial lonns. The rates for MI
sums Of 5000 aud upward nro por cent, with
az per cont commission for tho negotiation,
thus making m annual cost Of 9til per cent for
~ sawi ,w' rta ;a 'An IN nr .nTt ,r;t' ,i,o
.nu sou; sn,;,ao,, ~, a1p ~ snoroi M1' -, III
,tnn;nont jnan ot.c,,ta INV thov ,,nvo frnm aol
KIN 5s ~ s1, 'o mi nhch I'M Inv wonid IEa n
rIaco nt theso ratcp. md it. ID probable Tint ia
tue agsregate there IL from q, oaouoo to
stltuO,o ,o0o moro oHofod nero NO" Mt tnese rhtcs
thun can bo employed. This is only another owl
dcnco OF tho abundance of money, and tue lack
ataa W Tar in,, n,,,a ~ lila c,,aa m ~
len ~ ,,a' pr tna, " ~, ,a nrto,
commercial loanH, but 1t seems not improbahilo
TINT this may bo tho result. Ilo
abundant supply Of money S, so9,klnE E1',, invest
~ conaidornhIo extnmt Han,, stoets nn1 hor.o.
sa,rar t.,o;.a oro ram tn nc,. ccnt t'"hcr
On Inst Tnqrfsday the National Treasury re-
@ tho ss eo oa Of 81 5 1ey on hot ot ey Gth the
announcement Of Il ,uoo.ooo to be sold each
lafsny aI ,s y, n - uo osrecrca a I'm tit
eo.o VIII n'sctna.o goo! aaaa III, 1noro ai i'lae J..
TIE lever or aneeuntion IN IL VIII 10 roS'seu Ill
wall Btrcet. Tbc last tNfco months unVo hoof. q
poriod Of unusual stcaIness III tho price OF gold,
bcca,,so tho Treasury las hcou out OF tile
market Hyen t o faos aesat9s n Gn ~
r ', AXE thoro las KID hW sa eifeet o
cn,'He fluctuations in gold but, now That tho
Treasury hns como bnclz into tho nArkct III
shaver Of he notes of th1 Government, @ It may
nthor "<,.iu 1l"t thc ,,oiI ercculot;m, vii hn
conewoH %1'"'' tNA' 'no 'u 'l1'u'"|'' VIII ~
hASh nl;loH1ls ~ w ~ iaE ustt I htaIAs'
tr',s Cazhlcr writos ns as follows from lla'1-
nlbal, No.: .
7sMs raI"r e rs ca:s;e 1;;S;as ' :,,, - r., ~ ,
pnpcr of tho It'll intt yun state tllat It is known
tit ihe National l3a,l;s ho1 Just about recfolrha
of .,e Dans-.loposits II TIC United States, ,"-she
amount hes s!so " s 1 a Pc "a being s1s H. ro M
c" .rurra asec If i !. c;s ~ S' ~ @
c.ut Of tncb dcnosts. @i' ~ ee
have no recent stasiatirs on hand; bnt the deposits
hcla Ly tho Savings l,a.,ls of New York and to New
EsK'and S:atoa "t tl1e ensS Of the year 1871, w.s
Itse ,c MeP@s''a e ~ aea s
a"t III hnAi ~ ~ ~. ~. t.1 a WIS % f ~,
a,r If "' lin ~ ,ff1o5 sts1cs "HS nn h,n1:s
nrrnnised 1t,er State laws, mil by pri-
yato Dankors, would not, probably, 10 iess
Lhan the Savings Banks' deposits for New
England and Nav York; and, AZ tho yolnnae Of de-
rpsna IN Sat1nnai M ianas m"s insreasee ~ mo fTo 10
boh the o!hcr caAsea Of aepos,torips for, rs you
urQDgrly GLOW, these lDtKsH GU rGnFtSGut
tnoney Int crcaits or pruperty twcalt)A iii other
forms Your atatcncut therefore. would layo been
stronrnr if yor iutt iuoro nearly to tho
nct,al tlrpnsifs neli Ly Nil Tho 1n1kp bankers n,1
1ankina institutions of tho Uu,teI States: AMI It
could 10 very nrourr}y shown that lose uf confidence
such an oce,srred in fa, would Ut any tio lloek sle
wl1ces Of commerce. and etail yidc-nprcad financial
disaster anl lnsa creating i,,st slch n,onny.nrjm.
Eency as we aye ,,cc raasii,g Through without uet-
nIly diminishing tho volume OF Huo1lcyn or a. cur
rency o,e tuIlnr
It IL, therefore, mn Iucreaso of confidence and n
return to thc ,,snl methods Of llsl,,eBe at va want
md not al, iucreuse Of tcurreucyn Very res1cct-
fu}y. CAsU,r,.
1,r,,- y,ro ,r,,1d ,,,. .7,.t ,,,n .t;,,io ,r.,
.1al ~ Muuu sts t.iat o'., ehs..l"se "ae u"
mtenuea 70 embrace o''1y Inc ueposlts OF ttao