New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-01-22
ADssssss - ~ Z
Nariposs l. and n
Gal IF
SATURDAY, Jan. POP. n


The principal event Of the week ending with
to-day aud which has attracted the greatest interest IN
financial circles the adoption in committee and iu
report Congress OF the novel method for settlement
o, the Presidential question. Tie plan geheiay was
well received would have been almost any other which
gave promise OK early soutioD-nOt because OF Us
own merits but OF certain vague idea that the existns
stagnaton in trade is due so the continued uncertainty
a. 10 who is 20 be declared elected President and hence
that with n removal ts disturbing element an active
business may he immediately expected IL IL not our
province TO here discuss Political questions but II the
proposed plan Offers better reason for the support ot
bankers AID merchants than the suggcS;ed,l VII
be well to II it is likely, even II adopted 70
produce the commercial and financial effects hoped for
There are too many other requisite qualities lacking IN
the commercial situation for settlement of The Pres'-
dental question to prove the ready RELIEF uhles
other circumstances the unsettled condition Of politics
would undoubtedly have lad its effect upon trade ara
enterprise but is dlcs to spoil an added ess 20
with trade in the condition was before tie hIrouuc
ton OF this new disturbing element Is idle to atieHPs
self-deccption by hoping for an immediate chanse rOa
the removal OF which has been with he Or w
effect The present unanimiy ri opinion brings to lii
famous conference held at the Fifth Avenue Hotel ons
evening in September, 1873, whereat there was
scarcely q dissenting voice ~ the pleadinss
with President Grant that the Treasury shouiu
come to the relief OF business, even by VIOLATION
OF tlelaw The appeal successful, and mixtures u
rass and printers ink" poured out from the Treas
my printing press until there were Issued S2oooVV'V
Illegal legal tenders. VIII OF the gentlemen "ho nea
SO hastily sustained the justify IT, or -ay 'ua'
IL accomplished one OF the expected resuts To ms "
yet ureucdied act, which, by the creation olia h'"o
loauablc capital, has postponed, end stu "e'ss "
cvtab.e bankruptcies, both individual aud corporate
more duo the prolonged staglation than F" '4'
political status. Yet those wLo III 1873 protested
it, not only legal grounds but OH those OF 'xpcd'''
were in q small minority among bankers and merc"'h'~
The money market during the week has c"u'nueu "
work easier rates declining from 697 per cent 900
Oh pledge Of Governments and stock coli&tefas i"'
bank statement reflects the continued influx o" cRsse'
e;S,l tenders beng up S30S5,D00 aud specie $40
The loIus arr curtaicd Sl,76l 800 while dctCS'S wv
increased So i-4 500 The LEGAL reserve IN excess VI
per cen: reserve is s3i5t775 greater than one we'A
ayo being now 35.G7 per cent. against 1929 pealc'
ug tln specie in full from the deposits, the r'nan
currency deposits have legal tender reserve q -i''
per cent against Pill. Comparative totals are ~ '0
lows; -,
s3SS sa 95ts ESQ ls,l9ss s
tSisnr @Si3SSo 5Siss"c I IncTysss S S!sts
t, sSii.a is siSsSS 5sslSSS bsere';
The following shows the relations between tue 'O'''
reserve and tic total liabilities:
I9@ 1s a Inc 'S:ss$s
IL gal toLdcrA..... 37,ViZ9Oo suI2sspV No @--
ro,al ,ess-,c.. -s797sO8OJ scIlos7OO ac..''Sss'"
Reserve REQUIRED
agsins; dfl sits. oJ,Sb1Vio oO,eSO,'VV
ENcrsg ~ reserve
aeavr iolal ,, -. ~ AZ! IT'S
Qulrcblcnts...... -i,-oc,VV" AA'-'FN'
Goyernments have been In active demand, eA"s,'s
prices to advance from 81 ~ Ia pee cent the a''e
the 520s o; is6s. The Secretary OF the Treasury
,:,ss for SS07 900 per ceats o. 1881 Oh ae''A 80
Alabelua eains" Ia state bonds the feature was 'O
sl,eagth Tor Iuuisanas and South CaTaiinae "nns
nr,see Issues we're slightly velEer Railroad oo.'I'
have been geaera,;y firm but inactive. Inc s- I"~'
Harnnal and ST. Joseph and o0'o aud Mssissppi i'"'
hovcycr were exc, pions 10 the ru'o
Tho stock speclls son presented but Fit'e Oh Al -
eating chatsc roo movement IN Western Ono"
urcsscd 20 7css and then after halt and reaction
75l II aier advanced 10 7Sa. Pacific Mall st one uss
cave a rus Of nov o In rise " 2ss pt sabseaaen'"