, 1875-07-08
The Banks Not Fully Supplied with
Commercial Paper.
Ncv York Exchange characterization
Of Foreign Trade.
Tie Grain Markets Irregular, with More
Doing for Shipment,
--latest Foreign and Domestic Market
Heports---Marine News.
FINANCIAL.

Thtrs vas 1l!ta sei.tty in financial tirclea heyond
the rnutlnt Of counter busntes nd collections. Tha
lean market dul! and rates Of Inserrst weak. Re.
tall husine*s has not, the whoc, teen very remun-
crntlro this year, aud isttuat Is shown by tho
lank, Of paper ,na!c h5 sesa honscs. 1:,nmtrcial
rarer n:ado by jobting aud wholesale dealers Ia In
better favor md teadily aisenunte1 Tld Guprly In
email and Me surplus of lilo bhnta tncreascs.
run,cs which Las not bcen ttace1 to stx source, T.
cnrrtut Tho strcpt& tst Of tho banks !nttnt's
to make public announcement Of reduction of its
rate permanently 10 rcf cenk for Ill rNtonta. II
IL no doubt the tllAt larger proportion " om'
mercial paper than erer bcfore h now taken ly The
banks at that rate. Tho number Of tnrrawcH VINO
rcek accommodation al that ratr Is Increasing. Tho
lasGeat rart Of Tho discount lineH Of fnme Of our
hanks Il oancd at rcr cent ic. TITO amount Of
torcrcent rarer they bold Il no longer Tho hulk OF
thcir blt. rtcelrabl:. 1t has for son,e time beon ap
parent that 10 per cent was no longer Tho average
vals,s nf money, When 1oaM offered BY bsnks for
sixty days 1t per cent II law ttn esset 1t becomes
impossible 70 regard the old rntes % tsablo.
The illflahouists ought 10 md aunllin9 block In
The present stats Of tha ioan market. Tiny want q
further eano Of payer money 10 Put down tc Fnto ot
ln,crest, tnate "money" cheap. rblcasa shc farmer
and worktngan from The grip Of the capitalist, "e,e.
rte. But to-day with gentle but perfectly nrratent
contraction IN PFegfe@e, anil With tho cnrTchry mill
ions Of tu7rs less than Was yrar aH. shc tats df
Interest lover su every lnonsycensza than ihry
havo ever ken before.
ascH If dIseonnt at tho banks avs10 ror cent to
rre.,iar customers: CONCESSIONS IT or more cr cent
nre freely n1hdo TO independent lsrrowos with sats-
factory tntorremdnts colnssrals.
On tha Etrect, thtrs II u0t enough pnrtr 10 supply
fhc demand. TAtaA hte Btlta per cunt.
Now York ttolauqn hrmer, Ari.! Eod Ut par 10
$50 premium. between tanss. for u, ,tN3.
Tho cloaslngs were si.,ooeoo.
orn foREluH TRADE.
an ntnro In 3,lr mt 1htnr and
Ic.,n,InR foreign trade e continues. The report Of
the surcau OF Ha.isH lHr ta month Of May reveals
this iii anne very atristhR El'rcs. TsinC The month
Of Nay, fnl that s mrur,s III 1878 vert AGA U3o
this year. aHatpRt s71,442o10 last year: ts exports
we're III 1876 s3 co., nRalnst sse0O 0o0 In ls7t.
Tha decline In export has beun tho he7rIrst, and has
BEEN malo good by tho xhip,neut Of specie, Which
rnachod ST., ,tEJ,Mo In May.
The rclur Of the uufsau of Sutscs eovers tho I'M
ports and ex1prta fur tile cltyen niuuhB GUIDED 1lAT
II. Tabullssd they are:
EXPORTS. tIfeEE MONTHS,
II mrhths ended MAy H .ftH1. .a4at t3.a
II months elea asy III lsf.."...".... b&l.at>.hl7
pss'''''' ;zioHH:, i;f3ix *:Stn'. ''.e4 '
'sms'; Pss:. sss, e,
Total o.al...................s.'. '.l7,'p. s65;.ssi,cio
Decta4ee ......-.....-.....! lt1o-AuIi .........
which Increased by t4, ,59e.H2.
Comhtntns tho cstx,r,s ssd Imports Of Erceis and
otlor commodities tho following figures arc obtained
IMPORTS, hlE' H uos1'8r, % GOLD vALuE..,
Merchandise. ..t'sasHa2s E46,3.4ai7
Epec,c.. 1J'to,slu aT.tsi,a.o
Total tnrorts..... f5t, l49Y $-6',o0!.sa1
r1r"nrf, aLHvxs aos4a' 4!sru vAtvr.:
Merchandise fs9o kcs1 -, en-
Sltete..... tt,4-'9i3 he'NJ57
s;,,.4o.,sls s7lo, ,5yJ, ,ol1
DecfraRs. lG1.A59,ov9 ..........
lsc.sirin the e1rorts to gold va1ucs At average
premium Of i13, they compare witt tho Imports II
follows.
Gott t'uius.
E1losa ct ;oodF. odF......,,..............3l 3l4ut0'usl
E1pusa VI slccir.. r....,+................" 6l,ID,HD
Total exports 500. .1Ot tDN,
AEAtt sutas mi ACKNOWLEDGEMENTS. TN. NO
Comparing thu trade Of l3il and 1875 for tho ror-
responding eleven months, gold Hass Of liz fur
ruth ye.ss We have, exclusive Of specie,
EElDFIt. Imports.
Elosen mouths ending May
Eleven tuvnths tnatuE May
81. 43s, ,7Oi,ool 40. Al, ,22s
Decrease tn 1875. ll.oo4,934 sw,los,2b:
These shcv leercase Of exports nearly three tircs
sGre 1t ~ that In imports Tho advocates Of protective
tariffs, who Argued that they wouh build up pur tu-
auatrirs 30 that tley would Command tho markeA oi
the worlt1 hAve not beeu juHtIGeu br tho eyept,
Tho dhninut'on In tic volann Of tzale that has
becn apparent for p lns two years. Is indicative
hu condition OF u1ir geesat interests I'd affected b,
internal eausea aud relations To other countries
Tho lminuion IN t1nports ay 10 fairly taken 70 slos