New-York tribune., 1885-03-02
NEwyoRK DAILY TRIBUNE MONDAY, MARCH 2 1885
THE MONEY MARKET.
SUNDAY. March IL. ".

SUNDAY. March II. ".
Tho yhclmpg defca. in the House Of Representa-
tyes week Of the prJvsioa in the Sundry CIVIL p
10 suspend the coinage OF the 4i2a grains sy dol
lar destroyed the last remaining vestlse OF hope that
the present Congress could be prevailed upon to act upon
the question in practical way to treat it IN any man
ner other than from the point OF Wow that what Con-
gress declares to be dollar Is dollar. whether u
be composed Of % $40 grains of lead OF the same
quantity OF gold. The provision was open to
serious objections that 1t proposed " confer discre
on of when the coinage should and when 1t should
be continued upon single officer OF the Government;
and perhaps for that some honest Democrats In
the House voted against it. If the provision had be-
law in that shape it would have been little of
boon to the commercial and industrial interest OF tho
country. There are mon who arc honest enough, Dnt
hore Is who Is wise enough to be intrusted with
such discretionary power as this Dill
proposed to confcr-to create dollars OF
less worth than that which has boen the standard OF
values in this country for than thirty years. except
during the period Of gold SUSPENSION when the Govern
ment promises to pay-greenbacks the standard.
Merchants would have been all at sea in their dealings
next month would be the anxious question. Contracts
made atno PERIOD based upon the existing statutes OF
m or the
of the silver dollars The vote however does not permit
Of tie Objectionable feature and there is less reason
than to tear s emSsrs o
from bitter experience that the laws of trade are SUI
perior to the powers OF legislative bodies
In connection with this append our usual analysis
of the Treasury movements for tho week 1t will be seen
eer m funds held for redemption
National bank notes and that the net gain IN the avail
IN S' cSd s 5as the
during the month OF February to 81 500,
% a f Sss Of s gain snFs IN vsr
and bullion since February is Si6i570s lor more than
twice the amount Of the months coinagcl, and since
silver 10 100000. TOO late
for Congress to comprehend the significance OF these
Suppose the change. Continue at the same rate and pro
portion till the meeting OF Congress In Dncembcr ~
OF gold and sained
Of silver or snch poportionate changes cannot
expiration OF the period making the silver dollar the sole
standard and converting gold INTO mcrchandize. Inc
following compares the results OF yesterdays statements
with those OF a week ago:
Feb. 81. 1885,, Feb. 2s 1885. Changes.
Gold coin and bul.
cats sl25 4Ol $3.50 .l27 3os 723 Inc 81. .997 ssi
United states
tiacates l7672le3 ls.ol1.sH Inc. l.3iel5l
notes s'.' e293is4 e79s.2l3 Inc. 5o5ol9
Dt tionai Banks. looas.77I llO7s64ss Inc. s77l2
silver dollars aud
tincatcs 45iGlel3 4e.lsS39o Inc 7O6756
Total, 2Os,l27IiS $2.SO76 1855 Inc siGlgO2s
Deduct for funds
held 10 redeem
fund @ per '.n. .5s.sl6Osi 635o3O97 Dec. s252esi
- ---------
sI545sl o32 si594sao3s Inc sio12.ooe
On.Iegal tender
yer Coins 3olG3l32 3ocls29t Inc. GI.lC2
--
Total balance ls47HIGi sIsa7ll. .SJ2 Inc si9j7.i6s
.Ths will be reduced 81 100000 tomorrow by tho pay
ment O interest on the 1 = per cent bonds
The commercial situation last week presented few
new or Interesting features General business In mer
camille circles moved at It's late usual pace aud the
hopod.for scasonable activity did not appear All
their operations which confined 10 the supplying Of
immediate wants While this course l. present dsal-
pointment It exhibits conservation which con
tains the elements OF safety and of hopes that the
usual spring will be prolonged ny second or tri
orders The weeks collapse In the speculative
wheat Is altogether dscOuraging feature. although
the low prices are unsatisfactory TO the producers but
IN speculation had placed value upon wheat greater
than recognized by tho consuming world Tue COZ.
lapse only question of time. and the quicker u
rane the quicker would prices reach the worlds yaua
ton and the quicker that Is done the larger will be tho
france in placing duty of about Is cents per busc ON
wheat s of importance to us but not 50 much because
Of S tse duty gos sv 'Ia ,hs consumer because Of
its alton tho world that France requires
tar s working population for the stan of life only in
periods OF great abundance IL s too late TO regret that
The recent speculation aud advance OF ioalZ oentsih
prices probably has stopped the export OF from 5000
600 900 bushels OF wheat that otherwise would
have been shipped. The movements OF wheat and corn
last week were free and compare iaVoraDy WIN tose o
the preceding weeks, aud wheat makes better show
ing than the weeks OF the preceding tNo years
the recrlpts together with the declining European
,nnrtrts cuu 4 a decline OF Sig cents wheat from
which there was recovery Of CENTS Corn easier.
bnt closed with iIlc change In figures The receipts
SIN run largely below those ~ previous years.
The receipts and shipments OF wheat corn ond oats at
the principal Western points Of accumulation for four
weeks compare as follows:
RECEIPTS.