, 1875-01-02
MONEY AND COMMERCE.


| ''''" '''' ."nl"i'' ~ lt'o H't""ton
| at tho close Of business Thursday afternoon,
| Exchange VIVA vo.h.r. and so,1 n, ,,,r r., osc
,,.,,,;'..' "'.n ~, n"n' oon Nv p"i " 1'o
Tho cloatinus ,roro A. 0ol fn1. Tim ,,or,o,,
for ,,,o,,or go avail ' ,,.,an .,;. o "nA"''
w no''5 "as s'a"ll' haEes ot asseoahs ILL.,
| changed nj 10 por cont to regular c,stumors
with concessions to 3,f1eront'unt horrowcrs witt,
,1,,, ,n,,a.or.,a u...at ".oa oos.n .' WI
Eooa coHatefhls. street rates. 6fDlS ter ccnt !;
| real eatkto loans, a6D1U nor cont,
Tho rjrst National Hank Ia, ,1oc1.ro1 . aiv;.
deill OF rof cont. payable jan. /.
The Third Nstioual l,ank lima dc,I.red = ,1ivi-
aoha OF . per cent, naSatle IAN. 4.
srEclE-rAYMEsrs.
No tako n1easura in n,intiu1 tha fo,lov,ro
communication concerning tue resumption Of
slecio-paymont. It will bo understood, how
o,eF' thas INC fepponsinil'tY fof LILO features OF
this ecleme rests with tho vrtor, Mr.. II. o.
'es pare, u! Frankfurt T. A' who sa now ia this
CITY. MIR. Usterb1're Is the editor OF tho Ger.
man fconent, r; weekly economic paper pub:
hsheu IN frankfurt. 3ie 10 close student of
American anauecs. anu his contribution to the
so''ou s", , " .ne eooaho'uin '' 'n0 aay WILL 10
rea" WIN Interest,"; -.....
it.E.:
j. C.e1ao. IL, pec; w ls1t.-ior favor Of 10th
for sns5 ptsso asetpt ny pess ihsni. f H. .t..ts .:
es nrnihhed by your re1nEt nnd BY tie orlo Of the
6eete&sy " are U very great value and can-
h9i o. 10 tpo 70! highly ap1Tcciatcu'
neeatuiuR .aa QUESTION u spece.paymentstt IL very
Rtatysns th.t At last the majority of the American
10 10 accomplished. Du. It = very unfortunate that
she .!s question " HoW ahall OF can be done had
ssiFF:a t n 20 many different Ssw' that We are to-day
- lne entire rrste 1st IN ore point, name.
INA. We MIX foiss WI. finance Il 1teh wero not
oat which, fer every dsy Il asjay, vii
II oas nj o hs.0 r.: about
anfnG tnis assaon, and l1Ayes It an open Question,
sne nent ussaeh @ ~ ths circuit Of
supe Alla 5ou W. auu Mhny Ih:l1ons o. Iolua cone
over aeIe from Europe tor which go'd will haso to be
se1,tsfn. ahn r., ,, .o-,. ..u.,,.,. ,n. a.. ,.
ssd ~ ~ asy s,,c wnSn haa 10 r. to
e sho prsr t. do y aa tue
y y " ~ result wnacFef What guarantee ia
@ % snas tne WI 20 III condition to carry
passes "a" taAk sPece- payment fhdu 10 lesuns,l,
'1.u,,9 1"1 Ha9 - f' fo'o' ~, "'erey pun ne Sao!e
ln l"sas.n u.s., III ~ iue sua' leuRln OF time: II
s tne goa epsenaor1 re certainty thas nothing
H. 70 1uas vst"sf loIo, 70 u!hnEo Meir ganb.
Ing ihey san 70 mtg large operations With inrfeet
.sa IN , ~ .s ~ patsszs o. snee ~ would
,ns Se tns s pre- .. sa and II ss the zane
ume, Ut tne saeIe..fy q he Irery shoulA b. prohibit
"a from ennag IN mo,nhy eo'l ssle. IL order %
Tihn yery sIof Tina W" anil We we v nayn H as @ rae
Of !srse tStastoo. ssain, denoraiizins Tho entire
oa.sss' . H.x.s 81 aa, the CO. county. da
osy an Old q aan %Sy ySy cat %s
as IL o:f h1ss yen: Do e
times. bat never aesomrlised & and always lost luors
@ ~ 1ne gro 10" doinR our utmost 10 fail
10 reeuuas vo ,ny,, b.v, sn.c,. e
s w E ~ .1 ~ tns rnn We ~" hoa aau moee
inc, frus M ~ 1ono ~ ani to :. .n. wh,ca our
atu nsles . lne onlf way 70 8ot epeco,
r,i :. 70 maaa ~ sssue r. ~ 1t-
. I1ass ~ soIsmG fas us he problem We can onIy gst
A. !, nsr . o e IN n1n ~ meaoa.s TO-
5 r. p.yaSs ia indS not ha rsst
aoao 1s @ taae ns sane saa BE- PLACED ss par II Cen.
fTsss rnep mesny anozsa ,ae sessstssT o. the
n - Sritnai WV - ~ 'aa r. 1nnmt ts ~ sseeupaexs
H. ss ~ pasun u ~ .ss e,,sa 10 W.
Although 1hs isgal-Teudsr aot L. to bo rsue.Ie1'
which Should 10 dono to take effect ssy within thirty
ca res m ot ot o4f
thon be worth - mitch, and in some instances even w
p's nsa COLT s nso Is a. D1nk 4f nngana noe
ihoss nptes arc not ieg.i teader. '' N''1eNsA
Whlo tie lsw maker u The duty Of the secrrtary to
s, IuL III, 81 -. a. a - pe Ell " n1uat ns snoulA
dssasnl thst nay coma to hla: but rnensysr hs ois
more than 80 per can't be Should only pay out gold
even u ,ap, PITY r rseisre s9t.s s1centpsaess.
,;tharastnr ~ ~ .vn X trt ~ ~ .n M sc ~
0DU 0u frnm the i:ueiis1 M rleI wo1 ioranrs in,s
tlers and hero, would ratss ths b.nfrae In En-
gland to 10 psr cent, OF higher. sud would make tho
negotiation ot the loan impossbo. That is very rruo,
rrov1aed we would agree to ship that
money ,, 'tes drasa aore a. once nat rc 20
II sests st ~ asfe tn ti,s vanlts ~ he 1s,nE y ~
aanI d notlschis A. in H. do1srn,nent xsus nj IN
wall street. Ali We need j. 10 Lave It somewhere IT
the dIspos. Of shs oornnmsnt. from wlero II can DO
drawn u the hoiders Of ereanb1eks need gold for
.oms - wasoa th9y eanu. or T1ll rot use
h. dr.sn y certsn .,nu,. vhsn ,,a IL ~,
certain Intervals md by lesytno Il In. wav Va 4i
even ret SONS interest allowed a i, resiy costs III
bill. very tts TO pay te interest % the fo QUO oco
Anothes great benefit would bs tha very ahur!y after
fe.nmpt'on tlis English loan
Moo'a s s1na ~ OF Pr cont aooTo pss snd won On
reY,ts IN Amsr :. . an1 ioa,, em;d n
tiler 10 sausd 10 rsssem tas Outstanding 1sr cent
bouts and, il found practicabo. to wtthdEaw snI
csucsl SONS of the outstanding currency
CHICAGO oorp-MAnRgr,
/ IT. T chriatcn,, T. r., hontor, III s,rth
r,... ..ssa. e... " ~ ~ .A.4e' ~ A,", - sousn
o4siA hsfeos quoto eoio ~ O'CLOCK, lllst9
ll2; II o'clock, 1115s@l121s; II o'clock,