, 1875-04-18
MONEY AND COMMERCE.,
FINANCIAL.

THE salient point Of the financial dtustuu In nhtca.
20 md New York 1s thA scarcity Of exchange. The
exports from uhicago to tha Eaa and those from New
York to Europe, have lately been much aov the
age of prosperous yea-s. A stated the othsn day
the movement OF produce eastward from this poim
been lighter the past winter than for three yea pre-
ceding The exports from New York for the ust 1t.
teen weeks Of this year ,haYo been but SIS ,0oo
against $13 coo In the corresponding period Cd ss
year. Therois consequently steady uaoveunmt Of
currency from tho Teat through th1R city
| to the East. The rate Of foreign ak Change
| has advanced In New Yor5, and the pncspect
Is heavy movement Of gold abroad in the e,,ming
month";. The foreign demand for our breads tlna 1a
Light and, even 1t were to increase, the mt Of
| exchange wonid not be 1nnch enlarged. Cottonmakes
mora exchange than al other EXPORTS and there
viii to more cotton shipments to draw again E until
next September.
Tho impora 1t New York have been Lighter, count
Ing sl06 ooa against s12 Goo for tbs
weeks of this year and tho last. The demand Tor
change to pay for the spring importadona wtmld be
correspondngly less not for the fact that the
Treasury operations with regard to the called boz Will
consume large amount Of e1changc-in the present
condition. Of the marketfew, any, nav bonda be
sold tn Europe; SO GOO Of gold interest due the
European hoers Of United ssAtes bonds In thas naxt
three months. Thesa cumuiaive viii tua, the
exchanges very heavily against this country, aA1 the
dow Of spec5e to Europe will consequently be Il sze
Reye1hng to the situaion here, find the CHS
stances very ami:ar. Our spring tuportshoua :frun
the Eastern States hava np 20 far as may BE- 3ndged
rom The reports OF e7de IN tha pf1ndpEo At
hnuc c1hea,-these I'm no STATISTICS, n nf
the foreign trade,-besn large IN
prosperous yea1s- They have been he n,iar,
however, t:nu our exports to data will pay for. klnce
the a1ga demand for New Yo1k exchange Of our b snkA
and the shipment Of currency East According 70 the
ateas adVee' tho Straits ara likely to he open In II few
days. Il tfis b. 20, It viii b two or three VI Eska
sooner than Sas expected The shlpment OF pro ance
thAt will taereupon begin Will make exchange andas-
sen the 10" od money to Now York. Dut to what ex-
tent 1t Will do 70 Fill depand upon tha demand for ur
whest cora, md pfosiGons md the present pos pet
is that thf8 Will not be great.
The dnaocih effect Of these CAUSES, 80 far "a They
Are not counterbaixneed by others, Will be to adtto
the accumulaso2 Of money IN the hnancta1 eentna
Ike New York and London. This vii feed specuI's-
don, Ind the restV.l of thak FORM o1 activity Will he
followed BY zecuperatton IN other directions. 1hfre
ia nt to tae amount Of money to be loaned On r'Ial
eatate snd the amount invested IN tho purchase of
realty ~ caratanssa Win surplus means. IheJ mm<s
IND other Investments, End when they xecovea'
sufficient eonhdenec to purchase the SOCKS
Of new manufacturing corporations, md ~
encourage ths building d railroads and the hke en-<
teEprses an aeeee17on VIII be given to every form o
Industry. Tfat seems 70 be the path along which she'
better times expected ara likely to approach.
The local loan market remains without any nav fes-
tures to note.
Rates Of discount 1t tho banks ars s91o per cent
with stesdy tendey, ~ the discount lines are CON-
fnrtably high.
On the street thArs il fnn supply Of ioanabas
funds, With disposition to scrudnlzs eollaset7s and
anooFsemenu CLOSELY hates afe '9lS per cent
New York exchange II scarce At shipping rates.
Currency shpped 70 New xork 70 Settle mercantile