, 1876-03-25
FINANCE AND TRADE.
Accommodating Surplus Of Loauable
Funds, and Rates Weakening.
New York Exchange Wenlk-".The
Clcnrings $2,8OO,O0O. =.
Unsettled Produce Markcis...An Easier
Tone In Provisions and Wheat.


fhs loanabts surplus at Tho banks aceunaul.tinE'
and rates Of discount arc temporarily weaker. Tho
dcmnud for discount Ia NOT large, ami tho fdw out
db bbrfcwer1 wh0 appear e1pcct u 3ns cofresrohd'
Ing AdTsntsEs in ratea. Tho country 81 still lmrsAaA.
he and the familiar rtsus s 10 te seen in "lov
collections and poor trade, Mercantile and ntsce}-
hneous paper Ii IN demand At tic banks.
1Atea OF discount arc 7@lo per cent Al tho banis-
On tho street thers is plothosa ns fund.-, anil
scarcity OF good borrowers. naes Are 7ats pcr cent
Nsu York exchange was sold between banks As 500
premium for Il. .G0o.
Tho movement Of currency il Light.
The cleasings ware 81, 10000.
ExnLfRn FINANCES AND THE FALL IN SILVER,
The fall In silver thrcatans Engllth Ansuces With
troublc, 10 which tho London Etoaonsst Ruarllclly
sails attention. Bilver ia tho legattcnsr In Infa, and
tho revenues Ut tho Indian 1ovcrnncnt rayalc in
silver. TIeac t&1ca Rr,ount to about S1oH ooO
ycar in gold, and Of this about f76, 900 900 year
hi1hursed In London 10 Pay Interest On tho Indian
debt and other purposes. Tbs Government finds "
s1f in the awkward position Of receiving is Indian
revenue In currency that has hnddculy dcclluel In
saiue 10 about 50 cents tho dollar india with fts
population Of 2oo000.oo0 Il doing buaness With
doprcciAtei currency. Tho depreciation hAs 1ot
n1Ao ithef fclt there, and DFish merchants tenn.
potarily driving profitable l,tancsa by buying
goods In India With silver. which pessca at
100 there, but can bo bought In London by tue
etsnt at &c. This Of courso will bc short lysd tsac.
wuCu Nuc uepEcC31AuA ul1AE1 l*Ntlk lEG IN luuta
ttTseta business and finances, Indian and British
not full to b Serious The $1e5 600 Of rerenut,
for instance, Ia how worth only about f93 900, aud
he SIS 900 that uacd 10 pay tho lntian interest
aud other obligations in London, will now psy but
about f6t, 900. This deficit mus. 10 ma0e good,
hut the ta1ea can not bo chaugcd-As they arc fxed
for stated terms, uhfally 20 yc4rs. In Ruch country
Ne India II IL Of courso Impossible TO ehange tho
standard from eslver to gold Germany has done.
6lvcr Is certain 10 deslnc st further In value, Aad
Developments lntsfehttnG bath to buhintss men and
students OF hnanco may 10 looked for. Germany and
TIC Nct9f;lanls by changing tbs standard ayoA-
ID .na difficulty that now uenncca ENGLAND.
Tbs has been.dons twice by tbs Netherlands. When
The Australian and Californian gold discoveries ap-
prared 10 bn about to 1oierorato 9ol1 thoy hdopte
silver ~ their standard; aud when tho imrurnRs
Ncrats product Of siiYer began ia flood tic markets
they abandoned s!lser and took guild again. These
facts reinforce tho arguments Of tho most advanced
political etonostR for an entirely new stansrd of
valne that ahal 10 free from tho ductustous Of gold
and silver. Such new standard will soon b ne
eeasity.
THE VALUE or aIIvEa.
Tho New York Saton Of Marcel, . hAs tho follow
tug in reference to the much. question
Tho vAluo Of silver IN l1eenbacta:
Tbo value in gold OF tl0U gretnbacts rsuged during
she week between 1914 and ss1sl. Tho raue III gold
e soo cola ranged during sae week between
Of shese snres. no ad!1Eo totake business direct.
ery md ~ select from The srsce bsoksEs or bullion
mon repas 70 T. r. se.poa1le. rhsy viii iton o
3tts thai whilo our ngulc4 eorrocsiy represent te
' v:s sf.s e -. s:5s sss y Sua
soek being 10 sual here; that these coins worth
y 10 ~ cents sold for small amounts to ship tho
7asscd for 90 10 100 cents gold: that they now
'nly % obtaincd from tbo. Treasury BY paving
iii suprly in liz marle. such ~ IL contemplated
" tho Sherman act. after having been tsaacd 1t
e f. enc
ga rer ounce sfteE having eeen during tho week.
biAd and 52kd. The lowest price Of srer laat year
1871 Was 69td which Is the owest average price for
my ye4r back to ls91 or as fur ~ the record
Tho average price from 1860 TO 1878 ranger between
soHda dlkd. These figures uemonstrate clearly
that, u silver returua 10 anywhere near lin ayrrsGe
essrs dns q d. .elon ot aerpsny .tss e WI
with Francc,- tho subsidiary hllysr coin which II La
ssus % nf5s IT, ~ Ill., 3 r. sons % 4
comes that Il was conceived III johory. Considered
= financial measure.
THE nAsK or CALIFORNIA.
Ths Ban Francisco Bulletin says;
The third asrcssent Of $40 per sta.n on The capital
March lc delinquent April II. Tbs sutn Of 900 UNi
sapitat,
Div1s1oH or CONSOLIDATED VIRGINIA suAREs,
Ano 'A'A1'ub-"h"'s 'ha9Aeb HAA HfeR9&F Ills Ilofn-
Inc. The feature waa tho Introduction Of The ncs
shnres Of Consolidated ylrR!nls. ordered ,t1o oyer
year ago. Yesterday This stock sold 1t $l25 10 $780,
aud uncr the division Of shares for oi,e tho rce
to-day wA SO 70 $s-a Ra!n Of IS por share on tin old
tMas. The cutting up of the stock will have tail
dcncy to increase tho business. thu M1ea tns,ay
amounting to l.135 shares iii tie old Board aud 80
sares 1t The Pacific 1chAnge the prica iu tho lataI
caso being ~ 70 $a7.to.-san fraaeite% IuIetin
Idrch IT.
GOVERNMENT BONDS,
Did. Asked
Unitta ntates O. Q! sl.::............173E iE.i
limited statea h-:os of Ss...:........lla lla,i
b-2l8 Of GS--!annAFy ana !li5......,.llHi lI9'.
6-!os OF ,t7-Janusry anl lJu!y.......l31's 12l,i
6.as OF Gs-January hhu july.......l2!?. 1y3,t
le4os:. Lib 11a.;
United STATE" now ts OF t'al...'.......l1sh. 1ls';