, 1876-07-03
WECh = - =
'car.---. -............. 20 eo9. S0c.4a o437 9l2.
DECLINE IN THE PRICE OF SILVER.

DECL1NE In THE FR1CE 0F SILVER
The price Of silver In London has fallen to 500
per ounce, and In New York to 81. 90 per ounce,
1000 fine, or 80. esl per ounce 300 fine, which i.
the standard for silver coin. This is the Lowest
price ever known. 1t is evident that the German
Government hare been steadily selling In London
whenever the market would permit. As the So
called premium gold in New York has also fallen
during the week, under the influence Of actual and
expected Treasury disbursements Of July gold in
terest, the difference between the paper currency
furnished by the Treasury md the silver currency
has wilcncd. The paper dollar has advanced to
So1 cents gold; the proposed silver dollar {412.
grains) would hnyc been worth about
84H cents. The gold or bullion value Of
the silver tokens has fallen to 70 cents to The dol
lar. The $40, 600, 900 Silver Relief bill has not
get become a Inv, but bids fair to be so before
another week has passed. The scarcity Of small
change will then be relieved for the time ut least
under this hill large amounts OF subsidiary silver
coin Gnu be obtained in exchange for Uuitcd States
1esaltcnder notes, which to be held for the re-
dcnptiou OF fractional notes the latter come in
TIE full elect OF the heavy decline in the price of
silver the value Of silver coins is not yet COM
pretended by the people Of the countries where
silver currency Is used; that it s get possible to
pasa silver coins worth 70 to the dollar at o6 to 81
gold; accordingly, shipments eortinue,-last week
neary $780, 600 fractional silver coin having been
shipped from here, principally to the West Indies
and South America. There Is, moreover still
profit sending the coin to California, where, as
fractional parts Of gold dollar 1t can be used at
95 to o6 cents, gold 70 the dollar. public move
,neut- however, has been made in California to ac-
ccpt The coin at not shove 90 cents to the dollaI
Tie Notior, June 80.
COMMERCIAL DEPRESSION IN EUROPE.
The commercial depression continues to be very
severe in England, there being again decrease in
the imports and exports for the month Of May, in
the former Of over per cent, and in the latter OF
over per cent, compared with the corresponding
month OF Inst year, though the shown. for the five
months ending May 81 is more favorable. Tie
same story comes fron Germany, and, indeed, from
nil parts OF the Continent but particularly. from
Germany, where ell sorts of securities are just as
low rs they are here, and the number OF bankrupt
cies almost az great, and all without Us
yet, .'touching bottom'' or beginning an
hcalthy process or rccuperation." or course, the
fear OF war arising out Of the Eastern COM
plications has much to do with the continuance Of
the depression. Curiously, however, there is no
demand anywhere over there for the Issue OF more
paper money to ''1ubricate the wheels Of indus
try Senator Jones' great silver speech has, VIC
regret to say, been received with deris!on by the
s'money kingB'' of the Old World. The Econo-
mist says he talks like auctionecr who hes eyer
to sell, aud consequently will not admit that it
ever be plentiful, that it will come not
10 be required" But it adds, ''his statements
ere too exaggerated, his figures too hastily COM
piled, and his arguments TOO inaccurate, to have
my serious effect on European opniou.'' This
unwillngncss Of the *'coupon- -clippers'' Of
Europe to discuss schemes for replenishing the
poor mans wallet at a cheap rate IL, however,
fully understood On this side Of the Water.-1Ne
Nation, June so.
BUSINESS MEASURED IN CLEAREG5.
In every civ from which We hare renortk that