Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-04-03
FINANCE AND COmmERUE.

The occurrence Of Good Friday last week,
the New York Public remarks, has to some
extent disturbed the means Of estimating the
comparison Of the weeks exchanges. TAX
ing in the month Of March as far as the
reports extend, it hardly compares favora-
bly, with the same month last year in New
York, but outside Of that city there was
general improvement. There ia a great de-
eire for uniformity in the mode of making
out the clearance returns in the different
cities. Cincinnati, for instance, is accused Of
reporting double amounts of clearings, both
credit and debit accounts being included.
Light money East keeps the stock markets
quiet. There appears to be more desire
just now to speculate in products than in
stocks There is bill before the New
York Legislature for the abolition of the sys
tenn OF days of grace on notes and other
paper. To be of full advantage
each other State should enter the
arrangement. Grace ia fiction
Of the law that is troublesome and should
be done away with. These is GONE strin-
gency in the market; the banks are doing the
best they can for their customers, but mer-
chants addicted to kite-fying through
brokers can fad no one 10 buy their paper,
which is Just, as they do not do their bust
ness through the banks, but through the
brokers in easy times. Merchants who have
reduced their bank balances TO go into stock
operations end their accommodations comes
according to the new, not the former balances.
e Stock brokers also find money scarce; they
have used up the supply, as body they are
borrowing 100000 where five yesrs ago
they borrowed only $67, 100000. The severe
stringenCy in the money market has now
lasted month; though not unforeseen the
banks failed to provide for it; for four weeka
their reserves have been deficient. The only
matter of surprise is that the conse-
quence OF the contraction of loans
has not been more serious. Two draw
backs exist, money is wanted Tor
the West for the liveliest grain
movement of the season, and the treasury is
still taking out large sums every week. The
course OF domestic trade leads to the belief
thai the monetary current may now set II
this direction; if 30, easier money and q
brisker business market may be looked for
The danger, as usual, is that the fest sign O
improvement May lead to another sPecula
tive outbreak, and so divert to gambling re
sources needed for the expansion Of business
1t is a very serious thing that the repeal o
the tax on bank capital, which bankers il
national convention assembled have so earn
esily prayed for, should now be pronounced
by the Financial Chronicle thing that stake
of one.half per cent. from the profits hiih
erto inuriDg 10 bank note circulation" Tn
Financial Chronicle says its purpose has bsel
served if it has put bank officials on the in
quiry with regard to the proftableness o
their circulation. The came paper Gays tina
the changes of the week have been general.
in a favorable direction; the crop lo9kou
altogether, notwithstanding the bsokwsr,
spring, seems at the moment to be promising
and the question of the crops is just now thu
controlling influence in commercial circlts