Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-04-16
ST. PAUL TRADE.
Weekly Icevie,c of the st. Paul Markets..
OFFICE OF THE GLOBE,
ar Pam, Anril IL

An exceptionally active movement has char
acterized business in mercantile circles the
past week, and the general trade of the city is
reported as uniformly good. The m ost notable
feature of the week, perhaps, has been the adj
vent in Western money circles of the new four
per cent. treasury certificate, several millions
of which are now on the market.
Az an incentive to economy and an object for
secure and permanent investment, the appear
ance of the new certificates in the money ex-
changes of the nation, signalize the opening
Of new era in the financial history of the
country, the importance of which, to vast
majority of the citizens of the commonwealth,
is hardly susceptible Of exaggeration. In OPP
position to the new departure, it has been
enormously assumed by spurious class
of political economists that the
issuance by the government of an interest
bearing bond, would have the result of with
drawing large volume of money from the
channels of trade, that would otherwise seek
investment in current and more remunera-
tive enterprises. The falsity of the assump-
tion will be readily recognized when it is re-
membered that the low price of the certificates
will induce only those purchasers whose linn
tied earnings precludes the possibility of in
vestment in any considerable enterprise, and
whose small savings have hitherto contributed
to swell the profits of swindling savings banks
of which they were the credu-
lous and unfortunate victims.
On the other hand, the fact is patent, that
capitalists and men of extensive resources,
have constant recourse to Investments of much
greater magnitude where the opportunities for
large returns offer three fold better in
ducement than is afforded by the comparative
ly petty and tedious method designed and IL
Illustrated in the certificate. The existence, in
short. of ten dollar interest bearing certii-
cate, readily convertible into per cent.
=. o&ol DO l,,ek
and thrift, among the nations wards-the
manufacturing, laboring and industrial classes
the proper protection of whose interests
has contributed 90 largely to the national.
prosperity and wealth of several continental
governments. 40
good business has characterized the grain
and leading produce markets throughout the
past week, but with liberal supplies, in most
instances values have generally continued
steady at the previous week IS Quotations. The
wheat movement is perhaps the only exception
to the above as the receipts have been exceed
ingly hight, and with good inquiry. all
grades have met with q ready market.
With respect to this market, however, decline
in prices is predicted in certain quarters. to.
take place in the near future, while the unfa-5
vorable advices from the seaboard and inter-
mediate points for the past forty-eight hours
contribute to favor the impression. 1t is we'll
known that several millions of bushels of
wheat have been stored in the Chicago elevators
throughout the past winter, and it is now re-
ported that signs of an extensive bear move
ment are apparent which, if successfully con-
Quoted, will superinduce material decline in
prices.
Business at the leading grocery houses is re-
ported as active, and the volume of transac-
tions is much larger than for the correspond
ing period last year, while a general reduction
is noted in the leading staples.
The hardware trade has also been active, and
a few complaints made as to the difficulty
of collections, while no material change has
taken place in prices.
The dry goods business is exceedingly good,
and the principal establishments have settled
down to steady and very satisfactory spring
trade, while in most instances prices have
realized an advance.
The jobbers and wholesale dealers in boots
| and shoes report an active business, while
prices have ruled steady at the previous weeks
| quotations.
| The drug business maintains its former ac-
tivity, and material advance is noted in Sew
eral of the leading articles most notable of
which is the advance in castor oil, the price
of which is expected to rise until the new crop
| is marketed, which will not take place for one
or two months.
The demand for clothing, notions, millinery
| goods, hats and caps, ETC., is active, and the
movement in leather and finding, hides, furs
an wool is reported as fairly active for this
season of the year, while prices are generally
steady at last weeks quotations.