, 1874-01-27
MONEY AND COMMERCE.
MONETARY.

MONDAY EVENING, Jan. 20.
New York exchange was woalor III tlils market
To-day, and sold ut 50e to 75o por 81 600 discount.
In tho country md In tho other Wostorn cities
there Hooms. howevor, to DO dolnand for New
York exchange to pay Eastern dobts, mud ordors
wore received hora from various quarters for
New York funds.
Tho movement of currency botwoen tllib city
and tho country Rooma to havo now turned decid-
pdly la favor Of the city. Tho aggregate ro-
roipts OF onrronoy to-day were considerably in OK
reas Of tho shipments. Currency ia coming in
freely from tho SECTIONS southwest and directly
west of hero, whtlo tie only direction in which
II is going out seoms to bo to Northern Iowa and
Southern Minnesota, wllere tho high prico OF
wheat is still causing an motive movement to
market what thoy have on hand.
ABUNDANCE OF MONEY.
The Indications OF groatsr abundance Of
money, not only III tho 1ocnl marknt but
throughout tho country, both Rast and West,
l,,oroase from day to day. Tho minority of our
local banks do not say money 1s easy yot, be-
causo thoy havo already 1oanod extensively to
spoculatorB iu pork nnd grain. But, It money
wero not ronly abundant hero, tho spectators
would lnd II impossible to carry tho 9l,0oo,00O
or 80 Of pork and provisions and tho Sow
pral millions Of dollars worth Of grain being
hold In thia marlot. Thus, while our local
banks havo been snylng TINT money was "work-
Ing very closo." the real stato OF tue case was
speculation in provisions that would not havo
beon possible otherwise. Uutor m ordinary
condition OF tic money market, tho holuora OF
provisions would have 6con Obliged to ship ind
t .o ~ Snoon,ptiya rjaa il railway stocks in
Na,. wi, a,5 ~ nroviaions and rrnin In the
~ MGS1i 80 t,oom snatninc1 bv Tia easo in do
,at ~ not frnie sufficient employ
.,,ont far In ,,o,,oy, Donosis In banks through
a,,t ~ countrv nTn stantfilv increasing. Il la
enI ecommorcInl banks Of Ch,cago nro now nearly
cnnai to ,vhat thcy wore ut this timo last year.
II ~ fndrc by tho amounts OF money being
sont irto fhg city to Invest In commercial paper
and Ioou OF, coliatcrals tho country west Of tliB
civ is moro abunlap.ly Huppllod with mopoy
fhen Il haa boon for somo yoa,B. There Ia, In
fort every roason yhy il should DO 80 tho
country has sold ono OF tho largest
hog crops ever marketed, aud an immonso
good nrices, and il money can ever bo plouty in
tic agricultural districts it shonld bc 30 now.
IN Nov York city the aggrsgato deposts IN the
banks n tho 5 aset e
L, Tia banks OF Now York Was $40 ou0, GOO,
,rhnrons On Feb. 8. 1878, thoy wero only littlo
over $3.50, 900. 900. At present everything points
to tbo probability that by the 9Th Of next month,
the ngerocato deposits in that city will bo near
sab 0jf} nol in excess Of what they wero ono yoar
proyioua. In view OF the fact that thoro is an
nctvo export Cau1at1tt for our breadstufTe and
provisons. ] and that a. these aro boing takon out
Of tho country 1t loayes less and less Of any COM
modify to inyost tho money in, It seomH possible
thai va ara on the owe Of a further and greater
s,cc,tlRtiyo rise in procp of everything of which
lie price can be controlled in this country.
Wv FAo0 4 POPULAR psLus1oN,
al, ~