The New York herald., 1879-08-04

The money market easy throughout and there
were abundant offerings ut 1ls per cent on
government bonds and 4 per cent on stock col.
lateral. Prime mercantile paper was discounted at
3 3to41s per cent Foreign exchange was weak and
the leading drawers made four reductions of
"a cent each in the asking for both classes of
sterling to 4s3 for bankers sixty day bills and ass
sfor demand
The transactions at the Clearing House for the last
week compare follows with those OF the previous
week: -
Clearings for the week ending July &C. 794 74T
CieariDgs for the week ending Augusta 70 49l
Balances for the week ending July 26 70 81 Gs:, ~,
Balances for the week ending Augusta 10 3672O,3l3
Government bonds strong and active. The
market was stimulated by announcement that the
Treasury held large amount OF called IO4Os to
secure national bank circulation. which, to comply
with the law. should be immediately exchanged for
interest bearing bonds.
In state bonds there no transactions of spe-
cia note, the dealings being mainly confined 10
Louisiana consols. which continued weak on the
scaling of the interest. Railroad bonds were very
sctive and buoyant especially the speculative issues
The railway and miscellaneous speculation was more
active than for many years and the prices obtained
were higher.
or the wheat and exported from the four
Atlantic ports in 1878 5Oa per wen, from New
York. against rs per cent in 1874 25 per cent from
Baltimore, against ID per cent; Is per cent from
Philadelphia, against per cent. and ca per cent
from Boston, against per cent.
''Slver excepted" is new proviso, inserted after
the amount OF the draft in foreign bills on Ameri.
can houses Thus far it appears only on CONNER.
cial bills. drawn by German Cuban firms. Except
for the certainty that silver would never be pre-.
sented in payments Lankers' bills, 1t is thought
would be drawn in the same FORM
far this year has been unprecedented Since the lst
OF January the total production has been 800 900
tons. against 100000 tons last year. Most OF the
companies have not stopped a single week day since
the beginning OF the year. The only obstacle of
moment to the continuance of the present period
Of large production aud low prices is the possi-
bility OF labor troubles The preparations for a
large export trade, particularly by the Reading peo
pie. continue.
The Argentine Republic seems destined 20 become
formidable competitor with the United States In
the grain markets of the world. The exports OF
wheat from that country for the present year will
foot up 6,0O0.0oO bushels. This amount is expected
20 be doubled next year and quintupled the year
after These predictions based on the present
heavy immigration into the Republic from Germany
France. Spain and Italy, particularly from the last
named country.
The co mage of standard silver dollars the past
month fell between $4,000 $4,000 short of the
minimum amount 1xed by law-namely. 81, 600 900
monthly. The deficiency will be due TO the fact that
on the st of July the stock of silver bullion at San
francisco and Carson City mints had been much
reduced that there was nothing to commence work
upon. Since then IL has been impossible TO procure
bullion for those mints. Up to the 30sh of June
work pushed forward continually at the Phila-
depbia aud New Orleans mints. so - to run the