New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-05-29
n0NrI ANn RLNLNESS.

Business begins to feel somewhat seriously
the effects of high prices and Reorganization
of labor. The exchanges at Newly 0rk last
week were but little over half those Of the
corresponding week last year, and, though II
part of the decrease was due to stagnatlon at
the stock Exchange, the clearinSs not arising
from such business were more than one-thrd
smaller than those of the last week of May
1SSl. At Boston, Philadelphia, Baltimore and
81. Louis some decrease III the amount Of
payments has appeared every week this
month, although thc rise III prices since last
Nav would have causei an increase OF fully
one eighth in the volume OF business had the
quantities bought and sold remained the same.
Since business of all kinds is represented by
the bank payments, the idea that The decrease
in its volume is confined to the grain dealings,
and that "auy decrease of moment III the vol
ume of general business can hardly be claimed
is unhappily contrary TO the facts. With good
crops. business would doubtless improve but
at present there is a considerable Shrinkage,
which is both n cause and an effect of the
Widespread disagreement between the laborers
and employers. The movement of prices
during the past week. however, has been
litle to the advantage of consumers.
Though the outflow of specie was not
stopped, as some supposed, by the unprece-
dented shipments of the 18th, the exports dur
ing the past week, which amounted to
s., 500, DOL did not cause any stringency in
call loans But there has been a marked
change in the market for money OH time, and
in rates for commercial paper. Lenders have
grown unwilling to commit themselves for
80 milo NJ i,,bo
than were recently asked. This change, oc-
curing at time when business is too dull to
furnish employment for all the capital avail
able, reflects the common belief that period
of some monetary pressure may result from
continued exports of gold or surrender of bank
circulation. Last week the amount of bonds
deposited for circulation was 50, POS, and
the amount withdrawn from deposit So, Sc 900,
showing IA contraction of $945,S00 i'll the
basis of bank circulation. Since the LIST of
May the increase in amount of lcgal-tenders
on deposit for the redemption of bank notes
has been 81, 900, 455. The fact that the sur
render of circulation continues at the rate of
nearly 81 100000 last week, after the passage
by the House of the Bank Charters bill with
important amendments, will suggest to the
Senate the need of great care in acting upon
the amendments and the bill
The New-York banks lost 50, 1872, POO of
their reserve last week, although they re-
ceived quite large amount of legal tenders
from the interior. This increase of 81 ,575, 800
in average of legal leaders was not due to
disbursements from the Treasury, for the
average of currency balances in the Treasury
was 800, 426 larger last week than for the
week previous. On the other hand, the specie
balances in the Treasury averaged for six
days ending Friday only $SS, 726,31O, exclu-
siye of S1.OO0,OO0 received from the mint,
against $S9,l92,8S0 for the previous six
days, SO that the effect Of the Treasury move