New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-19
MONEY AND BUSINESS.

During the past week the Treasury has maid
out III this city 81 ,4346l3 more than it has
received from all sources, though its receipts
Include S3,2OOoOO from the minis. Hence il
mas PAD to the banks $4,600,000 more
IMAM has been taken from the local money
market, and yet the banks report no gain in
reserves. As usual it may be said that their
statement of averages represents their condition
about Wednesday, that receipts from the
Treasury of $4,000 800 since that dav have
not yet been fully felt in the averages.
But the same explanation has been made
repeatedly, and meanwhile the absorption
and disappearance of money has contIn-
ned. The disbursements Of the Treasury have
been very large since Wednesday, August
"a, when payments on the lO4th call began
and yet the banks have gained bat little Sun
posing that Saturdays statement represents
approximately the condition of the banks on
Wednesday, they then held $79,64l. 500 in
specie and legal-tenders while on August "a
they held SIS, 1862, 800 Thus they gained in
three weeks only $1.279. 200. But the Treas
ury, meanwhile has disburscd Sl1442. OO9 in
excess ut Its receipts from other sources than
the Ulhts During the week ending on the
3lst, receiving 100000 from the minis
1t diSbursed $2,76s,s6 in excess of
| all other receipts, and yet the banks lost
| on the 7th, receiving SD, 300, 900 from the
nints, the Treasury disbursed S7.676Io2 in
excess of all other receipts and vet the hanks
gained only $l,7l64O0 in reserve Duriny
the week ending the l4th, receiving
Pl,oOo,OOO III silver certificates and 81 600 600
from the mint, the Treasury disburSed
%3,996,35l In excess of all other receipts, and
yet the banks lost $4,000 in reserve.
lnese facts show an absorption or dis
appearance Of $l3,162, 300 during the
three weeks which correspond most nearly
with the period covered by the tire. bank
statements, and the Treasury has moreover
dishursed since last "Wednesday So, 500. sos in
excess of other receipts than 81, 200, 600 from
the mnts
Of the $15, Cos, 1905 which has Thus disan-
peared some part has gone to the interior
Yet it seems remarkable that so large sum
should be called for when the country had for
two years been filling all its channels of cir
cuation with specie, and had been making
particularly large drafts ever since July
and when, moreover, the Treasury was
disbursing largely to holders of bonds
and to pensioners throughout the coun-
try. About $10,OOO.OOO has been paid ont
to pensioners this month. Saturday night
$l6,72l,45O registered fves had been pre-
scented for payment since August 23. and
$6,S29,9O0 coupon fves since August II, of
which about SD, 100000 has been paid within
three and half weeks. Payments of interest
on these bonds and of So, 500, 600 interest ON
the four and half per cents, have also been
made. Out of over $33, ZOO, 900 thus dis
bursed, but little can have come into this mar
ket because payments on account of the ASSAY
Office for imported gold have amounted to
$lO,548,793 within the past three weeks.
leaving only about 100000 of the excess
OF Treasury payments over receipts to be
accounted for. An immense amount of
money must, therefore, have gone from
the Treasury direct to the interior
and it would be naturally inferred
that the demands upon this city would
be light. The Financial Chronicle, moreover
prints returns of the receipts and shipments
each week by the leading banks which show
that the net shipments for three weeks have
amounted to only 81, 033, TOO and yet more than
seven times as much has in some way disappeared
The Assay . ffoe std had on hand on Sat-
urday about $l,S00,000 in gold, for which
payments are yet to be made. 1t is supposed
that about $4,90oO00 more is now on the
way hitler from Europe, the receipts since the
specie movement began in July having been
$l4,56l, 9G7 But there will be an almost
totai stoppage OF receipts next week, for ship
ments Of only $350,000 have been reported
since the 10th inst. Nor does the course of