, 1875-06-09
MONEY AND COMMERCE
FINANCIAL

FINANCIAL.
Tts nrst Of tho 1etnd, usual At ms lime et year,
for loans to hanl1e the wnof clip was now but
not important fra!nre III Tho otAl financial situation
ses.erdar, In oshcr directions the business or tue
banks ran In tho channels anu With tho thnle
yoiume a. nsni! There was no change In Affairs on
Tho uo.rl Of Trads aucton! 10 enlarge or affect tho
srnlIcat1ons from that quarter for ssslsAnce. The
mercantile community may bo bsid 10 have Aroft
ceased borrowing except to uaod& SONS temporary
need, and much tic Il true Of manufacturers.
atos OF iacoupt ii the hauks continue 10 Ics cent
10 shoso sho borrow iii The year round, with enn"
tesstona Of savara3 rcr cent according to the eirc-
staness Of bank and borrower, to inopandeh outside
applicants.
On Tic strecs thers ia molerats amount Of bnst-
pere done. but employment cannot To found for Al
tic funds unsred. nAtes ara 6a1S PER ecns. ..
Now York exchange vas anu 1r1n At shipping
rates. ......, .....
Thero Il 1its1o currency going tneo tho country
Large amounts ars being sont Eatt dally.
Ths cleartnga wcrc Il, ,oo0,o Co.,
sILvEH CURRENCY. ....,....
Or. Iinderman. Director Of tho Mint, Las given q
correspondent Of tue Now York 71nles lila views on
the resumption Of si1ves payments. Ha strongly IN
fs.or of uslns silycr sgain for small change, md
sbinks that IT ID now practicable 10 do 40. lto pn's
thla opinion on tho great tni In tho 7A1us Of hisef
epnaeuuen ou tho chauga OF standard In Germany W
tho acrmau Money 'awo Of 1871. This II" provided
for the concurrent circulation Of the new gold and
tho cid silver In ths Empire until ahe Old silver
coin bad tton irntncd OF into tho other countrits.
Tho efforts Of tbs Gormsn Government to dfsrose
Of a surplus silver hsve resulted III SERIOUS ecsa
In is y.lue until II haa facn 10 o. pence per ounce,
Drttah standard. When tho project. that hae siaeo
becn 1landoned, Of silver resumption WAL rroTosfd
lsst fA the price os s!scr waa eft< peace eF OUNCE
When the Premium gold falls rcsfnanontly to 10
j.n nj
being exported sbroad. Tho decline In tho valoo Of all
ver 10 long as does not carry below tho point At
which It ccsacA to m good for money facilitates tho re-
sumption Of silver payments. An olatnclc dft! IN tao
way 10 the tcdnnd,nco Of tho fractional noes. Df.
Ludo.man htaos that lho Issues Of fractional notes
has doubt bten for tho aet tNd ytata IN e1ccha ot
tho puL}Io requirements 10 tho extent Of probably
s13b0o co., which amount must 10 w1thdtaWn and
cancelled ~ curly tho Inv AMI tho accumulation of
sufclent atnosat Of ailver eon TO taxa tu place will
permit
TIE rH1cE or uoLn.
II is tho misfortune Of this country f7t It's afo,n.
inab5e cussency uAkeA !tk trade dependent upon
constantly changing standard of raue. To account
for tho recent fluctuations In Tbs price Of oad, which
hayo tscn Rre.s injury 10 business Of al kinds, the
now popular theory Of conspiracy Aaa beon freely
advanced but this Il going too far. Spectators hage
Of courtn, aggravated the evt and bars done thelf
bess to Intensity tho upward and downward more-
HleHB, QUE fpGCh3tOIN Np luk IGAlH LILO <4hAsE@ "
tAesa var3asloua, Thief tAk0 advantage Of them. Onc
fact goes far 10 explain tho present htgh pco Of Enl
Tho besl aushorit'eA sgree that fully 81 n 0 op0 Of
gold ate Withhold from circulation In Germany
Franco, and the unled B!atet. or this vasl amount
Germany has $oco.0N,oco, Francc, &oN.col-
600; spd this country. $tto.ooo ooa. Tho
ororyaiued silver currency Of Germany keers
gold ous CT circulation In tins country.
In defiance Of lbs law Of The Emn!ro that gnld and
silver should circulate toeether In France, tho Banb
Of franco IN boarding gold Tor tho resnmTtion =!
specie payments and In tho UnIsol Sstcs trzedecns.
nblc paper mone9 has driven gold into hoard OF into
other countrtce Tho locking up 0! such IN cnoraoAr
snonnt Of coin Is almost Without precedent and can
not full 10 haYc serious ooct tho financial codI
ton Of tho world. Adj to this scarcity tie add!sloual
demand for guild to pay for callad ionda held abroad
and ia meet payments In trao that our produce
not taken for usual, and hare ca.soe enough 10
explain tho siEa In the rr'ca Of gold. As no haso SAID.
It IL our miafostuno that such CAUSES dtsango out
b,latuess and deprecale currency Aut securj-
tiles. III countrcs like Great urttain wlicro gold aud
silver Are the standard money IN circulation, nearly
tic same causoa arc 1t work, hut they dc
not produce such unfortunate results. The only way
10 syold lhom u 10 haya good rnonoy aud true. Wt
avo In California example daily before eyea o
tho prosporsy that atlcuda uninterrupted spocio pay
tutntB.
HJvnrors EYrEoTs or THE usuRr LAWS y
NORTH cARoL1aA.
The wilmington N. a. Sxa,, speaking Of tho ct
fee.a Of tia uauty Law atey passsd by It's Legislature
says:
The Director. Of the Wilmington rras. cornpan,
and Savings link have determined to pay on i1 tu
oaitura and c1te up. THIS IL annther stancs u IL,
evt elects Ut .he Usury lA passed oy Legislature
md Thousands oI roos posspcs wao hays hsrcosor
hal sas safo riacs fur aerosi,ing ther ltas ssr!uY
earnings Ur pEactlnn Uo1uomys
EfJafNESY IN NEW Etf1LAND
Ths Doslon Gpnaereial Lfst Of Saturday, ,n reyiow
lug tho business situation therc for lilo week, ssy
there IL still absence Of vitality In all departments
md tic volume of trads Is kept within . Email Coh
rass, Tho ahsinkaga that has been IN operation fu
some time past Il still prominent fcatuse, and this
moro than anything ei1e, Perhaps hes Tho effect /
make trade du,. We my perhaps, for thu prcscn
condition at aara cannot for certainty Ia atslhute
10 any particular cauaa It IL Tho rcault Of
ldna!on Of causes. snd indeed 1t requires very clos
scrutiny to distinguish tho cause. We may add tba
this may hc accepted fsiT expression os tAs bus
neaa sttuauon throughout New England ~ we'll - l.
NeatoN,
DEMAND ron nn1r1su MANUFACTURES.
The London 1.ntes nskes tho following svpo1t {
birmingham t.pdo:
Tho returns Of manufacturers ID most OF tho st.p1
trades ara In a1tess Of toeo of sho correspondent
ferin<l last Year, The clipping trat1o hRs in Gre4
measure recovered from she depression Observable
ths ssr!y PIT Of tno year and Frsnso Aas,rals; t
America are taflng largsly-incroased 4uantitiss
hsrdwares. On the other hand, Germany, The Unite
6tAtes. the Argentine lkorubuc. aud India hasa thu
fAK dsaproucd expectations, si te dcclsns IT tral
i these markets nearly counteFbaluces the imptort
uent Ii otasS quattess
GOVERNMENT 1oHDs.
Bid. AsIs.
United Stakea ia Of ,i4,.; I.5!
Uutud Blates b-Nla OF 'G3,,...,..,,....,,l17t 1lB
GnlteL Ht4tss 6-Na Of .liSH lI81
utslted Et4tta 1.1N1 ot t'Es..,,..,,.,,,,a2Il. 19l
6-.u@ Of G,--j4nuasy aud July. .,,.... .l23E l.3
6-.As of 't7--januarY and July, .124a. To-
t.HS OF Is--jauuary aud JulJ...., a.. .l94hS ia
11-4U9. .,,,.,,.,x.,,....,,...IlHE ILL