New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-08-23
ApEcLE ~ - INr1RI0R


| II tie bank statement of Saturday We're
settlement Of the actual condition Of the
l,eni.s Oh Friday il would indicate thai specie
amounting to nearly T2,6CO0)0 had been
shipped TO the interior during the week end
ing with FIjay last. For the Treasury lot
du ing that time e33G.9S3 in specie, and
&GO5, 900 in gold had been received at this
mort waiio the reported loss of specie by the
banks WIS 5I.613.40O. owing 10 thc custom
Of reuor,jn mo avegaccs. however, Oh Ftlte-
mont does noC represent the actual con-
didon Of the banks ab any time,
and, 10y comparison Uith tie rcccl9Js
and p.ymcnfs by the Treasury daily.
/ il may easily be seen that the statement 81
averages represents the stock Of specie III tie
banks rs about 100000 less shan ii was on
Friday, as respects the effect o. Tie treasury
movements alone. On the o,her hand, the III
effect of the or dual OutgO OF specie 10 the
interior is not fcl5 in the statement OF avera-
gc~. The more imporan consideration Is that
$500, 100 IN German gold, which arrived on
/ Flidly night, did not appear IN the statement
of imports for the week. AID OF course no part
of ii had reached the banks when their state
mcnt was prepared The actual imports OF
gold alone during lat week wcie Therefore,
over S1.42J,OOO. OF which only $6o4,6lS
could have had any effect upon the bank re-
ports or the loan market
The money market remained easy and un-
disturbed, and the opinion generally prevails
that 10 scrious strngcncy l. 10 be expected.
! Though the outflow Of currency and specie TO
the interior is large, strong reasons are given
for the be ref that it viii be much smaller this
/ fail Tran Il wa, Last fall. For, first, the abb
20 p.Ion Gf gold in the interior has been very
large. one year ago, AUGUST /. the Treasury
! led $I31,5I7,4S3 in gold, and the New
York banks reported %l963l, 100 in specie.
| On the 1t of August, 1850, the Treasury
( he'd $t23,12G.G46 in gold, and the New York
/ banks now report $6G,71T500 in specie, the
ho.aincs OF the Treasury not having materially
chaugcd since the month began. These figures
shoy that only about $34,000,O00 III gold
has tcrn added 70 the stores III Che Treasury
ana the N,v-Yolk banks since August
! /, 1870, hut the net imports of gold
have been about $4,000 900, and the yield
from rhc mn-s has undoubtedly been over
800. 300. 900 Hence $G6,OOO,O 900 in gold
mas Disappeared or. after n low lnce for the
quantity used in the arts, ut least $60000,000
/ IN, been absorbed, by other banks than those
of Ncw-York, by boarding, or by use as active
currency. comparison OF returns OF the
| National banks moreover, shows that not
more than $4,000, 900 had been added TO
their stores, outside OF New York, up to June
II. the date OF the latest statement. Fully
fifty millions of gold has therefore been taken
into circulation or boarded. 1t is justly rea-
soned that this fact will materially lessen the
amount of money required to be sent
| through the country to facilitate the
movement of the crops. But the absOrp-
| ton OF legal tenders has been still greater.
| From August 1, 1879, to August l, 1880, the
stock of legal-teuders in the Treasury dimin-
ished 800 1902, $40. Since one year ago, the
| legal-tender reserve OF the Newly banks
| hasdiminshed $26, 5S4 400. Thus $56, 200 900
in legal-tender notes has been absorbed into
circulation, or added to the reserves of banks
other than those OF New-York. And, finally,
the circulation of the National banks has in
creased over $14,OO0O00 during the past
year. Thus it appears that more than
| $3.50, 100000 Of money has been distributed
throughout the country within year, sum
several times as great as was ever withdrawn
from the New-York banks in the Fall for the
purpose of moving the crops
| 1t is generally considered, too that the
vast power OF the Secretary of the Treasur
will be promptly and resOlutcly exerted to
| prevent any serious disturbance in the money
market this year This power to remove any
! temporary sTingency IS so great that more
! than SO i,000,0 600 of United States notes
| now in The Treasury could at any time be
thrown into tho market either by deposits
with the National Bank depositories, upon
| bonds placed in the Treasury rs security, or
by open purchases OF United States bonds in
anticipation Of surplus revenues hereafter,
or by both methods. TIE currency now held
! bv the Treasury Is held in two funds,
| $I9,2GJ, 105 III the fund for redemption OF
| banks failed, in liquidation, or reducing
circulation. and $I5,249,495 in the
per cent fund for the redemption of Ma
! tlOaal bank notes. Specie can aC any time be
| lawfully aud properly transferred to these
! funds IN place OF legli-tender-. The knowl-
edge that the Secretary has ample power to
| throw $30000,00O Of leeli-tenders into the
money market. and the certainty that IN case
| Of any threatened disturbance he would be
strongly disposed to use his power to prevent
| 1t, will doubtless prevent any stringency
| which might otherwise arise or be artiiciIlly
| produced. These considerations, and the
! prospect of continued and large specie i'm
ports are generally accepted as assuring
reasonable ease in the money market during
the fall Unless the county should vote for
"a changen there Is no reason at present TO
suppose that It's prosperity VIII be interrupted
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Mr. 4. :. Coz sent letter TO a mlss-meeting of
| Democrats who made farocious assault upon Re-