New-York tribune., 1884-12-08
THE MONEY MARKET.


speaking generally, last week developed change or
indications of improvement in commercial and mercantile
affairs Congress reassembcd on Monday ana the ffesi
dents message aud the reports Of the various depart
ments were promptly submitted. Probably the aIi-
sop Of the President ana the Secretary OF the Treasury
to the imminent dangers Of the law relating to the
coinage Of silver dollars and their recommendations for
the immediate adoption of remedial measures echoes OF
thoughts have attracted more attention out OF
Congress than init At all events In the National Legs
aturc the only attention that has apparently been given
the subject is the formulating Of opposition to the rec
oinicndatons TO congressman who will not see that
n continuance of the present system will eventually
force the Government to make alss payments In silver
dollars including the redemption Of the legal tender
notes it Is useless TO point ont that at the momeht
that occurs there also occurs the most DISASTROUS
contraction Of cncy the world has ever witnessed
refer Of course to the instantaneous dcmone2ing or
the gold of the country. and the placing upon 1t of
premium In our currency that viii be limited only by
the difference the market value of - $40 grains of
gold thc gold dollar. and il2i2 grains Of silver Uhe
silver dunn Vet Il is this very question aud the doubt
Of the character of s solution that Is one Of the f"to,
II rot the chief IN the present unsatisfactory con
lition ~ all our industries.
Tho Treasury last wrct IN pnrsunnce Of ia new
policy to stirheu is gold reserve ne much ne possi-
ble nunie1 nn circulation nn additional S22lUoio of
silver certificates but it added only fi,3oT5d2 to ita
sinrk " rrtl. The currency hrnrit wa7 inviehs"i
nir rlaiarahe against the huon balances gul end all
,pf hrlial and bullion flai. i.so1T2D 10 siili otrt
fg1.unn,upn
The fanv lns tontaies ihr rieasnts conditions te'
irtiht Win thnau ni Futthlri w.
hny, 80 ieaii het q, iaat iinafpWas
tUnmn tsiooin6ia s5i1 5Ha66i ine, sipiieis
outstanding Gsioiso ebosniin me Aidial
Pot ,oi.... sla7aia, .ua sla,OluOio ine. si8l7,ol
snhmIimn sli9a7Dpia sliDdad,i9s mo, si6isO
outstanding ol,6saml loe.slAe5l Inc s,2i7o'o
Net ,s,. ',lSSr .SS ,s Sg.
ion ~. siIgOa,agl si9,4G277l Dec 2laojdo
cSia .''' seollslso ss9ls5,3s3 s72h
'Ss, Sesye .A' e56 sss s9l6osoi Dee s7267s4
Currency on hama
Nat'I BanSs.' sj255O,526 s52.75o,si3 Inc s2oo,sf7
Ger certideaies ~ " s22 $4,000 s2ssi5.ooO Inc. $4,000
Net currency s3o,o55,546 S2O,3Ji.,4s Dec. so6O6s3
re-
%atRI Bank.
roirs excu.
ber nes ceut en- fund 4sl4cGo7 4267o215 Dec. 472,4s2
Cur'ey deficit sl3.Os7l7I SlS275372 Inc sls8.2Ol
q noteworthy event of the week was the further and
sharp advance in the price OF coton spot rose from
10 71Gto 1913 cents for middng upland and futures adj
vanccd OF 30 points Although there Is some
talk short crop, the continued advance or the last
three weeks the face of the conditions of the cotton
goods markets both at home and abroad seems to be iii
expicabc except upon the hypothesis OF largely over
sold market The receipts large, now exceeding those
OF the same period of -s The exports last week were
unusually large, and for the season now are 10000
bales in excess OF las, year The following are the stat
istcs:
RECEIPTS At PORTS.
For the week. bales s............. 265,4sl 27G,3oo
Stree september !, 2,boO,'OS -,'ol,'1l
ENroRrs.
For the week. bales fIfpo9 -f''IVo
since September i. bales .....--l 4lOi 10 l'oi-'oo'
The grain receipts OF the week at the interior points
were large but the movements eastward were unusually
small of whoat aud only moderate of corn. Prices were
Huctuating; at the close in Chicago wheat shows de
cline OF about cents, and correspond
ing decline at NewYOrk Corn at Chicago is practically
unchanged but in Ncw-Nork hccame of temporary
scarcity the price IL cents higher thsn week ago
Tho western farmers moving Tor lower rates lOf
freight because at present charges and with corn at 80
cents Chicago the Kansas farmer realizes ile more
than cents his product. II the railways do not
Weld voluntarily there II some probability that win the
u.c year Will another storm of granger legl~a-
lion IL perhaps wou he better for the western roads,
now that t, have tiled their wars, to Tor
siall any possible action OF the grnngcrs.
The receipts aud shipments of wncar corn and oa. at
the priucpa Western points of accumulation foi iohr
woehs compare follows: