, 1876-06-19

cot1S.paaluf week ;s. ''7 S''.'7
............... e. 0oa 7a.s3 27as1s7.ol
TIE FAILURES ABnoAD.
The recent heavy failures abroad In the Irish and
Scotch linen and yarn tradcs will have 1i!lo efcc.
in this country except 10 clcaren tho commodities
involccd to American buyers.
TIIR MONETARY STANDARD.
On the aupstlnn OF the monetary standard, hFatA
correspondent! Of the Independence Btfgt mrnttontn
rnmor, which, II confirmed, IL OF Eomo interest.
The writer aflrms TINT tho departments Of finance
at vIonna, Rome, md st. Petersburg, as we'll as In
1ars, aro beginning to bc seriously prcoccupicd
with tho necessity for an understanding on that
subject. HotcA have been exchanged between
them; England and Germany arc To be cnnaultcd,
and there s already reason TO believe that confer
cnco will ho hold, At Vienna probably, during the
next wintor.
NEW NATIONAL nAHK.
The following new hunk organized md authorized
10 councNcc business, Is officially reported to the
Comptroller Of tho Currency:
:It+. Fasmers SntI1nai Dank 2f ronnsbuFs r.
T. gg seg!t" ssm 4 aMS T. ay snps a,sS s ~
silUriisd 10 commence blsncss Msy ii, ie7l.
SURRENDER OF BANK CIRCULATION.
BY way Of explanation o1 the rapid surrender Of
bank circulation in March and April, md tho ain
suAr decrease SINCE 1t Il faid tat tho banks
It Tint timo particularly pressed, aul wcsc forced
10 realize their buntls Doubtless this ts true In
many instances Whenever hank was pressed
lor ready money, It could deposit With
The Treasurer 500, 600 in lcgal-tcndcrs. sur.
render circulation to that amount. withdraw
b1Oo 900 in bon'a ecll them for S120, 0O0, more
Dr. less, and rcslize $50, 900 by the transaction.
THY view Of tho case Ignores however, tho fact
that tha banks generally found It impossible to
loan safely anl probably nll tho currency they had
at cou,maud. From $50, GOO. COO to 8100. GOO, 600
have been lying Idle: many millions more have
been earning small interest. II tho banks rs
S.nI tx1ttn
been different; IN point Of fact, millions were
fU,Goo, 900 Of bon's wcro withdrawn and sold
lt!o1 properly applies, It Indicates Tint cerhln
bnnkR, not few III number, were IN need, not of Il
e St 70 ny aa bst
luhing transactions. In short, in anch Cares, tho
s1smsnt Ut ST s;repaan W. Tas really PROCESS OF
BAN FRANCISCO MINING sroc1ss.
There Ia not mich to DO sail about tho htnck
market for tho past week. Tho mort enlightened
person In stock matters could scarcely give an In.
tciIgblu diagnosis Of It's ronts Of interest. as
''etill watrrs run dccp." there n,ay be moro
trcugtb underlying tho sluggish movements in the
Itocjs market than tho usIal observer has any Idea
II. Its vicisaitudcs havo partaken much Of tho
character Of the summer aenson In California. A
little moisture III tho morning spread over !ts hur.
acc. whether It cane from, tho foss Of inside
ranfpulntoEs Or tie gentle scws Of thu onc.hossc
ppc tator would CAUSE priccs 10 wcnr vigorous
sticking point proved aburt!vc. Thuro WINS 10 end
efiryinE ae!tatc t!e M OUT ssa q snseu9ton ly
tl.eir efforts could only succeed IL producing a
ripple here and thrrc.-:1ltd California Jaas II,
Tue Nnf@e'tH oI tho 9TH s"ys:
,asis 1s
G%! sAhs HS'in aa ,sH isaw
WIoTu thy have hecIi iii this werk