New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-09-06

! Increase of the bank circulation mas pech
retarded during the month, though not "S
much by the supply OF silver dollars whicn
has been thrown freely into circulation az ny
the Ligh price of United States bonds Inc
bank circulation decreased $8S,75l during
the month The large reduction IN the puDiic
debt, together with the ample supply OF
! money at low rates of interest, nave 'chue"
to advance the price of bonds, ana the Iour
per cents sold on Friday and Saturday III
1908. Having in view the fact thal
the British consol is non-'elihi-
nable investment, and therefore ~
! higher value in proportion to the rare OF
interest paid, it seems proper to say that the
credit of the United States is fully oquai 10
that of Great Britain with per cent c0nso's
selling at 975s, and thiry-year per cents
selling at 1903. The British investors who
sold consols largely last year, in order 10 buy
United States per cents at about par, nave
made over 10 per cent by their exchange.
Specie continues to come in largely, the i'm
ports for the week ending Friday having been
! %1,264. AGO, nearly all in gold But the TWO
steamers of Saturday brought in Sl,299'4Oo
more so that actual receipts for the week
ending Saturday were over $5.3OO,oOo.
The British financial papers discuss
with no little anxiety the probable specie
movement for the next two months, and noe
! that the banks of France and Germany are
resorting to strong measures to prevent the
outflow of gold, but evidently without success,
rs the receipts on Saturday were wholly
in French and German gold com. The
| lf,,i-g fhot
Of France ought to take steps to arrest the
flow of international securities to the Paris
market. inasmuch as it is impossible to pre-
vent the importation of food But the Paris
CORRESPONDENT of The LonoOn Economist OBJ
serves that the amount of gold circulating
in France must bo q, 100000, so that
large amount can be withdrawn without
causing any Inconvenience. In fact, he says
"The present exports are taken entirely from
the circulation the bank having taken the
precaution to retain its stock" He reports
that the crop in Germany is below an average,
and that country will "hava to buy from the
United States" NJ. Card writes enthusl-
asticaly to The Loadon Times, predicting
crop of wheat "problbly from three to four
million quarters more than the crop OF
"1S79;n but this would leave over
100000, 600 bushels to be imported, besides
enough to replenish exhausted stocks. In
France too, the official report shows imports
Of 77Gl3.44O bushels of wheat -four
not included, during the year ending
July 81, or with flour probably ol.OOO.OOO
bushcls-almost precisely the quantity import
ed during the year preceding. As stocks
are greatly depleted, largo imports will
al ba retuiral that THIS
year. In Russia, the reports are
much worse than before, and it is believed
that the country will have barely enough Of
grain for its own consumption.
With little reason to fear that the supply OF
gold from abroad will fail the money market
continues easy, notwithstanding remarkable
outflow of gold into the interior. The loss OF
gold from the Treasury at New-York has been
$I227,674 since Saturday, August Is,
and the Assay Ofice paid out to bankers dur
ing the week 81 800, 1872. the imports having
been, as above stated, $4,2G4,4 AGO, and yet
the banks of New-York gained only 5000
in specie These facts imply Withdrawal of
more than IS, 900. coo in specie for shipment
| 10 the interior, unless the stock Of the banks
mt the close of the week be supposed to have
been much larger than the reported " aver
cage In any event, the movement TO the
| interior must have been very large. The
markets have been entirely undiSturbed, how
ever by monetary stringency. The threats to
! build new railroads, both at the East and at the
West. and the information that the trunk
line pool Is no longer able to maintain rates,
have caused some disturbance, and a general
feeling of uncasiness.