, 1879-01-01

nj vancemont in our mental and moral statl's,
a. city; but that such notice would be
foreign TO the purpose Of this Rovicw.
This greater volume Of business has, how
over, boon transacted on much lower prices
than in 1877, even when rcckoned on
specie basis. One may well stand amazed at
tho fact that the average prices Of the year
show a decline as compared with 1877 Of
81 per cent in hogs, 20 per cont fn the
speculative grade Of wheat, II por cent in
corn, 28 per cent in oats, being an aVornge
reduction Of II per cent in all breaastufs;
md not far from u per cent on tho "vernge
Of prices In Wholesale trade. Here Is total
decline Of 2s per cont in produce, taking the
relative volumes Of all kinds into account;
or total average ahrinkage Of fully II per
cent in the currency prices OF produce,
Wholesale goods, and manufactured prod
uct. These figures arc only approximations,
but they are rather under the truth than
over H. 1ne ao"oaan' s'e'a VI s'"'1 'oA
nogs "n' S'a"a'us "eon'ea' - t''o' "
dee1'ne' anu auo'a'ion' III ot"ef ospa' 'ns u.
followed the example set by prnauce. Tho
aown*aso movements "As s's'4''. y"
snf'nAae' IN 'no so'a pten'uA' ""S "o
abovs figures show that 1t was vastly
e'ea'ef 'naa 'oA' o'o A.'
enee !" .no eo'Ausf'''' "0' W.
paper ool'af ~ 'Ae WV P"'. ''
ihe average pf'ee o1 'n' papel ooaa1 w.
'ng tno pass Soas wa" "o'u' ''4e' AsAIno' ~
te'eo III Ao' - a''o wv IL Ao'"' a' sn'
greater p'opos1'on o' .ne sest "'S'Ae'' D'''
peen aone WIN so'a A'o'. A.a'e' p"4'
1ho crops nave oeeh n'oVeu WIZ p"pet
averaging nos ACES 'nAn ''1e' 'ae oiAe'ua'
oe'ne only aooos e4oal ~ 'no o''l'na'J iA.'
OF premium Oh Ns" 1osA eA'uAuso' w.
nave oeen P'ac''ca"S ." 0pe''o oNh'7 .'A
n7o months pas', 'houea 1esuanp''on aS ene'
o'eacalS ~ o'uef '.-'"s 4ot @n' ~ ~ '''*'' '1
seventeen 5ea's' ....'..
bns these IL even moro 'eeson 10 os hn'a&e'l
as tho 'ae' 'nas "o nave ae'aa''s ''anSao'e'l
more o"s'ness' I" paeoola'J sous0' 4As'
year than IN 1871 whetnef mo sum to'al oe
reckoned IN specie or paper oof heufea
ehoW 1hat We Aa7s galnea ~ Per cent !"
produce, It per cent IN onf "holesa'e tFaoe'
and . percent IN manu- aetafes: giving q
total OF q per cont IN currency or Vt pes
cent In gold. 1t is worthy OF noto that 'hss
statement does not correspond with tue
Clearing HOUSE returns, which nre usually
regarded ~ an accurate lndex 10 the fe'as'ft
volume OF tFade' They arc u per cent test
for 1873 than for tho previous year. 9ht
discrepancy is, however, easily accounted
for. We tave not 30 many BANKS IN Int
city a. before tho collapses Of 1877, ant
therefore fewer tranafera OF CLOCKS betwee1
them. Az m eminent local authority sa't
whon interviewed on tho subject: ~
there were only one bank there would b'
no clearings, and yet that ono ban1
might do very large bnsincss' Iher
las also boon much less traainR IN 1otures Oh
Change, which fact haa materially reduce
tho volume OF cleafi1rgs on tho uay succeed
ing dol'Vef'ea on monthly contracts w1thou
interfering WIN tue receipt OF shpmens
proaucc. Ihe result IL aaso aue' IN q sfna1lo
degrec' TO the TACT tnat' s'nee tho oank 1aa
ores IN this city, somo trndera Aavo take
caro- OF their own money, or placed 1t In th
Safety Deposit vaults, where thero are n
= clearings. Wo note, however, TINT th
bnnk exchanges fell OIL chiefly In tho fo1ms