, 1877-07-21
An Uneventful Day in Local FL
nances -. Clearings,
$3,30o,OOo
The Produce Markets Less Aotive-.'
Hogs Firmer---Provisions Cen
orally Easier.
Brcadstuffs Weakened bv Crop Prospects
and Largo Receipts In CoTns
Meats In Good Demand for EN-
port.



F1NANClAL,"
There was nothing new In local financial circles. |
The demand for currency laa apparently not been
met and the exchange market was but little. II |
any, Arn1er There il rnr,e shipment OF cur |
teney to the Interior but It n not large. The de.
mand for reti<connfs f. continuous bnt light. In
The eity ftaclf the demand for bank accommoda. |
tions Ia limited. There arc few applications frbm
regular customers OF outAf!crs, and all desirable
paper /. qnicRly taken. Nstcs Of discount arc s10
10 rcr cent at the bsnks 10 regular customers.
Luhus call tu outsic burrowcts arc per cent.
New York exchange was sold brtwecn banks at
Ou6b7lc per 81, OOO ileeuunt.
The cIca5inss wcrc g. 400, 0G0.
FINANCES AND POLITICS IN FRANCE.
Some rrcen. returns l,r Tho French Miniatcr Of
Finance nee hc baSls OF m estimate TINT ono per-
son out OF ever, u;nc-mcn, yumcn. ana chIIdren-
In Ftsnrc IA holder of rcntes the Government
bond Of France, Frcnehmen have freauently bcen
Known TO s;anu all night In ,!ne before The place
where ful.crin,fons to Government loan were to
BE- tnn1r The Fscnchman, whether partstAu or
provincial trader or peasant, il very saving. and
at tho zane time cautions The certainly Of the
Guvcrnuen Mt 1oans Induced heavy popular eubecrp-
tions, In spite OF the low rate Of interest Tho
number OF holders Of French rtntcs, Ecgi4-
tered In tho Grand Lirrs IL 10 d<itt Eonsoitdts
in ts7O waa I, Girl, 900; In 1876 II was H. 4o+. TUT
In the zane tlu1c the interest on the French debt
has Increased from 81, u15, o0O a year 10 414A,
Qlu. Q0u This docs not tell tho whoe story.
The amount voted Tor the debt next year nnounts
Including rcpaymcnte, to Sa:G5, 600. coo. Tho
fetal ANIMAL c1,argo Of tho British debt Is St40..
O0D, 900 ycar. The great loans ncgotatrd by
THEIRS were mainly placed among foreigners, hut
SINCE that time a. wu have shown above, the for
eitu investors have sold out to The French
people The value of tho French rcnscs nuc-
tuatcs With every political complication, and
~ tho pcfsons reeuniayity interested In tho
Government mako larco part Of tho na-
tIon, tlcrc II in France an extraordinarily
powerful conservative Influences. The owners OF
rrpscs dcpreeata any agitation that will lower the
quotations Of thc!r bonds, nnu oppose any reforms
TINT they fear will unsctlc tho Government OF lis
credit. It |. noteworthy that rcntes have rfscn
since tho fail Of Jnes Simon. though this is attrb
ut Ell to political manpnlators The Paris 1iuursc
by Ills opponcns. II Is not N b. expected that the
Americans sho are apt 10 display cpsorprlse whrro
the French show cantIon would Subscribe 10 the
same extent preportiouaicly. 10 IN American loan
a. the French 10 tncir nauonal debt. The Amer
lean would take little rlsk, and make greater
an,crext. Hut tho favor With which the (
per cents were rr1nrlul BY tho American pub.
iic, although there ,sorc many unpopular point. in
tho WY 1t VA. pu. beforc thu people, show that
pupu]ar Ioan In this country might be carried IL .
high figure. it IL very .csrnb'c nu many y'oltical
~ well hnsrciai grounds taat this reh,'lt should
b. reached. II French lnanc'crh can get along
without +q1HlealcF+ eaHnot SceEtMry ohtE1nha 10
the 4nsne!
THE l rrit CRSrs AND Tnu GOLD MAnKET.
The MN lu.k Jonr"al af Commerce saws that
'.The magnitude Of tl,e subscriptions tn the per-
cents rlacc.1he Syndicate and tho Treasury Dc.
part.ncnt IN II somewhat embarrassing posltion.
Neither ealcula,et upun 10 large demand, nnd
bu.h arc puz,!ctl ~ to what course shall 10 pur.
bucd 80 to proIueu the tealt possible dcran2c-
1nrnt in the aar.eia. Thr Syndicate will probably
hnl It I[nlcu!t to obtain tn" bonds from the loan
dly-lnn OF tbs Treasury In quantities
sufficient ID Immediately mako their
H. ,$t