New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-08-02
THE BUSINESS OTTJOOE.

The strike no longer interrupts traffic, or
threatens the future of business, and previous
expectations may now be revised with the as
surance that trade will be uninterrupted.
WOrkmcn who have wasted a week or more
in foolishness OF crime will generally resume
work. il permitted in the humor not to throw
away any more money in the same fashion for
some months to come. 1t is 4 very encouraging
fact that, although the bank exchanges at all
the cities which were disturbed by riots last
week are smaller than those of the corresponding
week last year, the decline is nowhere greater
than at st. Louis (23.9 per cent?, While the
exchanges ut New-York, Boston, New-Orcans
and Milwaukee-citles which fortunately es-
caped NEUTRALITY-SUSPICIOUS. "A marked improve
ment in each case. Three fOurths or more of
the usual business, even III the cities where
riots occurred, was nevertheless transacted :;
and in spite of the detention of mails, the ag-
gregate transactions at other cities were larger
than they were at this time last year. These
facts indicate that, apart from the temporary
disturbance, there is every reason to expect
considerably greater activity than was seen
last year. The bank returns, also, do not IN
dicate any important disturbance, the chief
changes being those which may readily be ex-
blamed by operations of the Syndicate
Respecting the second cause of apprehension
tile arrangements of the Treasury Department
as to the new loan-the situation is also more
encouraging. though it would ~ idle to say
that no occasion for caution remains The main
fact is that, as dispatches from Washington
show, about $40, 900, 900 of the new bonds are
provided for by old bonds already within con-
troll of the syndicate. 1t is supposed that of
this sum the $1O,200,000 subscribed abroad
are covered by old bonds, leaving nearly $50,
100000 of old bonds already secured in this
country. The amount already paid in gold tor
redemption purposes is p5,0O0,0 900, 80 that the
whole amount remaining, for which payment
has YET to be provided is only $3 ,5l9, 700. II
is presumed that the Secretary will sell at least
SlOOGO000 of these bonds III August and
September for cash. and while we believe
he ought to apply much larger pro-
portion 10 the preparations for resumption,
there will remain only $21, 519,70O to be COW
cred by calls for old bonds not yet placed at
the disposal of the Syndicate Calls for that
amount will not involve the shipment of more
than $4,000, 900 in specie to Europe, and the
balance is likely to be still smaller The sales
Tor 1OIu 10 lub IltdSuIg, NHtlHCi HI tAt'NS VI
$4,000. 900 or not, can be contracted, so fan
as they tend to cause scarcity of coin and a
rise of the premium. by sales OF coin for legal
tenders, and though only S1,O0O.OOO mas as
vet been offered the Secretary, he ought to
sell. and we trust will sell, as much
more as may be necessary to avoid dis
turbanco from that quarter.
1t is not much more easy than it was in
April to judge whether the third element of
important infuence-the possibility that Great
Britain may engage i'll war-justiiies greater
confidence in regard to domestic commerce and
industry British fleets have moved, and
British troops are moving, but the Chancellor
of the Exchequer in the House of Commons
OH Tuesday. stated that it was very doubtful
whether il would be necessary at all TO ask
" for any further sum during the year " on
account of the dispatch Of troops and the fleet