New-York tribune., 1885-07-20
Tc loca money mntct continued 10 rnIe easy nd low

The local money market continued to rule easy at low
rates TIE range for call loans WIS from II To per cent
principally percent. There Is nothing that Indicates
any near change IN ia. monetary ,uat"n and prcya-
lent Is The cl that there will be fo several months
to come loans aud acceptable mercantile paper
can ne negotiated at lower rates than ever
before The domestic exchanges ruled steady at all
punis aud universally In favor of tnis city.
Foreign EXCHANGES were quiet and early in the week
Developed some Weakness; rates were reduced - cent
for stirling aud proportionaiely or Contnentas but
better demand had tie effect To almost immediately re-
store quotations aud the markets closed firm the
of II Sia and ~ SO respectively for long and
short sterling.
The event Of the week. possessed of the great
conference between the United states Treasurer
and the presidents OF nearly all the Ncw-Iork
city banks. Tue developments did not consist OF
any Information to the readers 81 TIE TRIBUNE,
vino for months past have been informed rach week ol
the movements aud changing conditions o the Treasury.
The conference at this tune however showed that both
the Treasury aud the banks had awokc 10 an
appreciation oi the critical situation OF the currency
question Without going into long discussion OF the
methods proposed and considered at the conference
practical suggestion at ills tmris oppOr,uuc The facts
that when the Government proposes to borrow money
any purpose 10 s necessary Ia designate the KIND OF
money required, aud that II Is possible FOR tho
necessity arise for the borrowing OF one torn OF cur
rency MAINTAIN the credit OF another forn are com
mrniarcs upon the multiloim condition or our cur
rcncy would seem should he convincing argument
TO the bgoted supporters OF IN 50 cent silver dollar
II was deemed by the Treasury to confer
with officers of the principal monetary institutions OF the
country upon the methods by when the goid standard
might he maintained until the next meeting o Congress-
1t is unfortunate tnat It could not have remained
II to he hoped that tile publication oI the
oilers rendered by the banks will not resu IN post
poucmcnt OF all Congressional action upon the silver
question period than before was reasoncretoforc
10 expect that sch action would be taken Viewed many
light the agitation Of the question at this particular
time seems have been unnecessary aud unwise. The
Treasury gold balance last night S2,G9O.OOO
greater IL May 3 although the grccnhack
balance Ii Is true II $s.OOODOO less than May
81 But gresnbacks In the Treasury under the working
OF our system are as .. applicable and TO It's It's
81 90 900 900 gold Is main aimed at Its full fig
rc irrespective Of the amount OF greonbacks which the
Treasury happens to hold.
The commercial and mercantile situations last week
DEVELOPED nothing uf special Importance In mercantile
circles the opening OF the fall trade impaired life
than there has been during the preceding three
four weeks, but generally 1t Is con
sidcred that the movements were lighter
than at the corresponding period Of la year. The
are being made among the coal miners TO reduce
the OF put for the month of August
Thus far In July the coal trade has not been equal To the
expectations Of the most conservative dealers Specua
ton grain slow with weakening prices
until the middle OF the week. Renewed rumors
OF complications between England and Russia stimulated
the later speculation. that sharp advance was made
the price OF wheat. aud closed at Chicago with an
OF about 22 cents above the price OF July H.
The European markets. however, did not respond
In prices this side. The secret of the
torpor OF the European markets, particularly
the English market probably found In the fact thh
the ten principal ports of the United Kingdom the
per cent greater July l. 1884, being In BUSH
els O.l2s,6Is against l7,009,3ft. AT Chc.g corn
shows decline of y cents while pork Is 20 and lard
% cents higher The interior movements OF the week
something below the late average for wheat ana
oats and about steady for corn.
The receipts shipments. OF wheat corn ana oats a
the principal Western points OF accumulation for four
weeks compare as follows.