, 1874-03-13
MONEY AND COMMERCE.
MONETARY.

THURSDAY EVENING. March II.
Finances mud trado nre oxcuodlngly dai' in all
tltolr Departmental Noarly nll tho banks hayo
more money than thoy can llnd employment for,
aud most Of thom would gladly loan nj lower
tl!au customary rates II tho reduction OF tho
ratos would 10 any inlucomcnt, but, esoops +
son,o considerable demand from spoo'llators In
grain, there sccma to bo nothing TINT affords
prospect OF profit, md those who havo Tho noo~
eaaary credit or ,collatora1s to ,oDabo thein to
borrow, SEQ no iuducotnont to TO go. Tho
abundance Of money for 80 long u
period as II hun bcon now-anco tho
beginning OF tho. year-is unasaal. Tho .
situation, Is oxceptiaual but avery thinking
porson must acknowledge that IL Indicates
healthier condition thnn IN past yoars at thla
tinot whom all :ho enrplus nlonoy Of the country
was borrowed, by tho sale, Of bonds, to build
now railroads IN aparsoly-populatod torrttorios,
aud still moro borrowed from yoar to Joar 10
temporarily keep up tho fraud Of paying dIvt-
dcutle TINT wore noyor earned. Tho collapse Of
wild .raiIroad schemes Ind bcer, foroahadowcd
long enoug, 10 preveut tho profits Of tho indus.
thoso Of previous years laa boon, and it ia tesc
accumulated profits of 1879 and part OF lB7a that
nro now waiting for somo Legitimate and proAt-
ablo Investment THE country, aud particularly
tho Northwest, Is rich, bocnuHo 1t haa M hnt large
oropa OF almost ayerything, and is selling them
at good pricoa. ThiR will undoubtedly mako
good spring trade, but there can DO scarcely !!
doubt TINT trntio wns stimulated to M abnormal
magnitude by tho railroad and other speculative
who arc still trying to mako living by the mera
exchange Of commodities, consequently there
will be very little fold for tho employment at
rresont Tho advance in nlI ,:wc1l- l-ostablisLle
socuritoB in tho list two montha has boon 10
largo that it la equivalent to considcr-
abba reduction IN tho general rate
what vii be tho result Of this conservative tool-
inn mud how long 1t will Inst, OF course nobody
can tell but, as real aatato and the improve
montB thereon nro a!waya The 1lnal investlnont
Of tho accumulated capitul which is Withdrawn
from: trade, 1t seoma more than probable tint
highor values for hind, and especially for city
zeai estate, must bo QUO Of tho results. 80.
Now York exohnngo WAS scaTcor andhghar TO-
inv kind OF Wostorn products Eastward now arc
light, aud the amount Of bills made .is small.
Tic complete turn in cxchanEo,-from Goo por
$1,000 discount, at about which price 1t stood for
ovor two months. to 900 premium now,-aho'ss,
that tho winter movement In products is over, md
thas thoro ii not likely to 10 much done .now
until nnyigation'ia fairly open. But even then,
tho movement is likely to be very light. There
is.lcss than tlreo-fourths ae much grain III storo
in this city now as thoro was Inst year 81, this
t.no Uess than half ~ much coru), aud 1t ia
probable that tho supply Of grim in the country
to come forward yot ii ovon smaller still aB com-
pared with last yoar. 80:
Currency is coming in from all parts Of tho
country largely in oxccas OF tic shipments to
tho B.irne quartofs and the prosent upward tend
ency of, Now Yorhlexctlango indicates the proba-,
billy that currency will Hoon bo shipped from
hero to Nav York, ,,
"ruSon1Ho up" CONGRESS-. ~
Some Of the Now York pooplo have bocomo
impatient ut tho delay, Of tongresa to sottle
tho eurroucY question, and assuming mot with
out SONS roason) that, Congressman aro too g-
norant Of tho fundamental principles of cur
rouey to ever alTvo at,alIy concert Of opinion on
tl1o matter, tho Now York gentlemen propose to
hold q mass7noetng aud Impress their; Own
views upon tho people, and through them upon
following notico II published in tie New York
pnpera Of tho 10th, 4,
We the uuderagned, request tho citizens Of Now
Iork to assemble In Copper institute evening
10 ba hereafter designated, 10 gira expression 10 hor
epinionA o. ths questions affecting t@e National
tSis sasjeet W hardly S1 furtssr ss''st Ss1,sst ct
that a %a q nyani i,t George ey opyto r'h.a M
Alien, John T. Williams. Henry NJ Tabor, William r.
nodgest, William Libby, and oyruA ". Field act %
Executive Committo to cnrry out tho on)ects Of ta
new YonE, March ., 1871. ....
:, PETER UoopHH, ELowop WALrEn,. J.:
pEARE, ,Orpyc1E Il Go. ,JAMKs III. DnowN,
s. u. Gn1rrENnEN, FtERpoHr 3lonuAs,
+. l. -. sruAar, W1LI1sn -. I. JENKINS,
BAncooK nnos 4 Co, ,cuAnLEs L. LEvEn1cu,
y. L. NJ. DAnLUwt !
And nauy othors. -
~. LOCAL srooK AND BOND atAREEr. '-:-a-
Kle6srs. Preston, Keau l. Co. quoto rs follows
this p. H.: '''