, 1876-02-28

Inc Cuu,lnen. having t.ien out s13194S specie, Of
which nbout 81 Uo0 90 gold coln. Since tho open
Ing Of the yoar spccls Rhrmcnts haro aescra l!1nss
seemed to ba Imminent but when exchange advanced TO
lhc shipping point unexpected suppy cach tins ap.
pnare aud calculations that gold would 90 proved
bo erroueous. Tho explanation oil th!h H. that largo
amount Of Tho bills made against tho heavy raroad-
bond pcgouAtlans in London u tho beginning Of tia
year ware bought speculation bJ brokers. who held
the bills until the market became s!rong and thon ao1
them high p.icea, selling uny such amounts - could
be sold at about specio shipping rates. That taia
supply has becn exhausted the course Of tho
markets during tho veot has shown. Whom 10 largo
An amount 90 c25O0oD demand bills was wanted BY
prominent banklnRhouAe 1t could not bs got at rates
he1ox tho point II which they could remit gold. Ac-
eord,ngly, {1,2soooo gold was sent by thls house,
which started aha general movement subsequently
bankers To angage In lhlppnR gold Just ~ they would
ship cotton bfeAd1ut., Or securlties anA tho ~tek
closed yi;h he market II th!s con4tton IT, t0ssiRn
the imports, tnerchauaae, and drygoods. 1sss weak
hsrinz amounted u sven the low prices zufng. to g.
~ ss.as ''t ths
s1posts from Nj. York and thc whole country have
u cotton shipments, which has been aae 10 lie fact
that cotton aa ruled In our markets above the price
Tia New York banta increased thcis loans during
surplus reserve tue latter however, aul amounts to
&pDuI kABt SCAIs
i. therefore. lrae m,1sia for gold shipments With
out disturbance to tie loan market. The nuat nota-
bls eyens in relation to Htock'E1eh.nge Affairs h;s
vsuee bill, ~llIch materially modlaea tho notorious
potse. act. The enactment Of tho bill shows auch
railroads tlat tho bonds OF these Eosiu and theit
shares hare boon bought With more conddaoco. AN.!
s ss Iss as s q n &
6tates bonds Which. fur several easaSs hays seI os
tho rss IT, p1 ,ss o
aud ss7.7l.-Mw Iark xas4on, tfo. u.
pus1aEzs on TIE rAc1rlo sLorE OVERCOME
said " thoao who haye recently fto,o the
Pacific eosAt that, With tho ainge exception Of tho
1opAnza m!nes, business Of all kinds las been entirely
oye.dono both slopes Of tho Hisrras. Everything
hss been extended beyond It's propor Limit. Tbs en-
tire population arc infected with tho mania for
gambling In stocks, The Sau Frtncisco HuiI<s,n Of
the 1th inkt In its money arcio give. picture that
accorda 10 sons a2teut With this Information. It
says;
The spsing trals opsns very quietly. to the dlsap-
affaira tLla Utspie tho unusually fnyofabls out
lo9k IN agricultural aud mining, tlers Is sleclAl
sa oebta
report ods1sta city trade md fsw ordcrs from The
country psodurs dciiers complain Of lha du1ssa Of
trade tn lolr nes rcalestats have not
stocks auce tho opening Of tho ye4r haYe exhibited
wsrtest enthusis.t. Unaerne.sh IL shis auliness, M
hows1es, there il hopeful feeling Mat IN soma way
general revival OF busi,lsss activity viii 10. u much
puger delayed.
TuE FRENCH Crisis.
Tao ctbs brings newa Of panlc impending on tho
Honrse 1t r1rta. Tho intelligent correspondent sup
poses the snzsy 10 a In consequence OF tbs ascons.
Tbs real CAUSE Il probably tbs over-s extension OF
French railroad building. Close observers Of Troneh
sHalrs have eu ready 1t npy tie in tha lass year to
,eo panic In railroad securities stnta that country.
Ehe business Of railroad building hss been altogether
pyerlono sincs the eloss Of tba FrancoGcrusn war.
The protlness are oyelrun with lines tributary 10 tha
trunk linea, and, for rertln distances, eam1et-
ing with them. ClAste1s have been grsnssd pro-
fusAly for tic building Of taess suhailaary lines.
and they hAss hasn laid u great etpnnas where iheJ
cannot possibly u mAda 10 ply tntaress The invest,
mont The amount OF capital that has besn put tnto
lhsss hoea IN tho ground Is great that reaction
Muat como II somo tlzno and Il u probably now Al
hand. France, which has never bad rauGc, il alou
70 expe1leuee railroad collapse like that which bal
swsps England. tho United 6lates, 0sruan3, Austria
snd mosl recently Russia.
CURRENCY PRINTING.
gecrstary Brisow has Told ths Apptopratt TONS COM
mites that unsss thsy appropriate for tbs denrleney
Of $500 o0o In Lbs Bureau Of Engraving and Printing
hs would lore biz stied force, mud the machinery
would dttssorats from ths lack ot uaa. Ho would b
obliged 70 isaue silver to take The rlacs Of fractional
currency md = famine Of new hank -uotel and legal
teadsrs would occur.
GENT Fkn CxkT.
The Interest SPUN psJs goe her loans u fiRhttul
That usion has just borrowed c2o o01ln London from
syndcats Of bankers, aud ths terms ct tbs loan
these: For roo oOo In bond, bsarpg IL par cant ii.
receives Elo8 Bo0 n cub aud Gil 200 iu the oyerdu
. coupons Of tho funded dsbt, which she syudeAt,
bought At about ~. but which tho Govsrpmsns tsk
IN tals Lade It pat. For G!00 In hard ca4h-ve,
hAyd eashaas agrees 70 pay E42Q p<s ysas interest
In ass yesrs shs will h1vs paid EilqU0 Ia interest,"
E3.Ao suoro than shs recsyes, spd vii Atu hayi
the GAo,0da pztueipAl 10 pay,
MEXICAN BONDS DOWN.
aQa The Lopdoa Stuck EzchApgs, Jan. u, Msx.cat
honda fell 10 The lowest polut thay have 3st reached
to-wit;lAl Why does not Lsrdo de TeJada quIstl
, Autbeflzs sous diaeteet brotsr hers 10 buy up th
whoas OF tbs bonds ~ this tsuss, and thus end TIL
dsplazabls tcandalf The noss iupeeun!oua Of bsnt
Eup1 could Afford 10 buy In bls dsbs It l4 cspta o
tbs dollar. 6uppsas hs Mexican daht wsrs So oU oN
Burey, Asxtco could xs1ss 700 for tbs sake Of e,
tinguishing II. Perhaps thsrsis game of that tia
going on, fos there hays ce%n large purchases Of th
boads usds Il ths fall, snd these purchases are ~!
70 b on " Dutch account" II II not explained VIII
hts esuaea this LAST fall In g Ne1.eans."
WY CURRENCY roxys ARE uIoH.
Some rt,tous do not undsutand why u IL ths
rnttsd etass currency touda, payable principal ~
interest in currency sell at 49, Wills al other Ups
6ates bondas tAJat!s principal Md Interest in golt
sell II lower prices. 1hs difference II accounted ie
ia Tbs fact thst thu former ssc las only long beads
ths 1oyesnmentthst psy6 PET cant. Tbs bonda
2ss1 win bs dss In While tia currency band
IN thht5 yea1s from their date. In sueh Long boa