New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-08-18

Increase. ............... S1,791 800 S9.43O,s59
This shows that the Treasury has taken
from the banks during the month about 3d.
AL 900 in currency. Their legal-tender
average August was $57655,1 100, and Au-
cust 16 it was 43,974,000, which shows a
loss of S13,6S1, 100. Hence the banks must
either have lost, on account OF other legltl-
mate demands, about $4,000 900 more than
the Treasury has taken from them, or.the re-
mainder of the apparent loss has been pro-
duced by the manipulatiOns to lock up money
which were mentioned on Saturday. Without
doubt most of the unexplained loss is due to
tbe latter cause, and the banks are actually
in stronger position by $3,OOO,OOO or more
than their report indicates. For the object Of
the temporary lookup and stringency has
been attained, and the money withdrawn has
doubtless returned already to its legitimate
position. Men do not keep money idle for
many hours when there is nothing to be
gained by the sacrifice.
1t appears, also, that the return movement
of currency from the Treasury has already
begun. On the 18th the currency balance
was $47, 81 ,1S4, and over $1,O00,000 has
already been paid out. On that day, large pay
ments to the Treasury. amounting to $26,329.-
4G5, were made in final settlement of bond
accounts. No further cash payments to the
Treasury on those accounts remain to be
made, but, on the contrary, as the called
bonds are gradually presented for payment,
about 100000 will be paid out by the
Treasury and returned to the banks. This
change, as we see, is already in progress, and
il will soon put the banks III the
same position that they would have
held had all new bonds sold been paid for
Immediately by presentation of called bonds.
These facts, however, encouraging as they
are. would not suffice to produce the feeling
of safety which is apparent in view of the
weak position of the banks, and the approach
ing demand for the Fab trade, If there were
not another and far more important element
70 be considered. During the week ending
August 49, the imports Of specie at this port
amounted TO $719, 400 gold and S1O6,276
silver. Ten days ago. when specie was
shipped from Europe, it was not known here
OF there that the banks OF New-York were
likely TO be in any need the surplus above
the reonired reserve was nearly SD, 600 600,
and money was abundant at low rates. Yet
money started to this point, in obedience 10
laws more subtle and more unerring than
any that human beings can frame. No Con-
eress, whether composed of politicians or
bankers, could safely have been trusted thus
to anticipate and meet want as yet unfelt.
The kilograms from London, moreover, state
that other shipments are on the way,
including 81, $50, 900, Of which the last $780,
900 was drawn from the Bank OF England on
Friday. Even at that time, the extent of the
depletion OF NewYork bank reserves was
not known, and it may be expected that
other shipments will be made Immediately.
At the utmost, the drain Of money from the
New-York banks to meet the Fall demand
does not exceed $20,000,000; but it has
been shown already that twice that sum could
he taken from the Bank of England without
causing any trouble. AT the latest detailed