The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-24

specie reserve. The decrease since
February lsi Is over 6,OO0.o0O but
the banks still hold over Ss4,OOO,OOO
specie. Lat July they held Sll6.-
000, 900, but have now ;32,f O0,oOO less.
A further export is regarded as without
danger, AZ the present specie reserve
is far in fxcefs o. what the bsr Ike have
usually be d Nc. ~itbsh ndirg This
fact the steady outflow Of 90 d tEcites
watcbful attention. There vas also
withdrawal OF bank deposits to the
amount Of ever So O,t0, and loans
we're iDcJ astd sS9j, 500 Isst week. The
loans are larger than the banks have
ever reported before, yet the deposits
are nearly sS2.tO0,t0O in txcess q
loans. The present surplus re6erve
is now Sl7,4l2 800, the lowest point
since July 5, 1884. Commercial
paper is in coed supply in New York,
but the banks do OF buy i. freely. In
the London open ma k,t discounts
are u for sixty 10 ninety day bills.
The Bank tf Eoeland has been loeipg
gold, aud au advance in its rate is ex
pottsd, aod that, the Chronicle fays,
would DO pretty suie 10 react on us,
alimulaiine iuther shipments" That
paper Of Saturday adds that since the
previous Saturday there were ship
meuis ci "a, 393Fi5, incl0dir g 81 49,
7l5 in baIF, and also ssJs: although
the rates for sterling and for ancs
scarcely justify tlis movement, the
metal can be sent without loss and 30
II goes, as our legislation deprecistes
It's value here" Such fact as this
certainly ought to arouse the attention
OF business men; it indicates the set
OF tide that is no. favorable 10 our
side OF the water. The Chronicle f re-
Gees much possible difficult y from the
strikes that are now derangiDg the
country's commerce and which show
, no sign OF adjustment, though they
D have cut down about two.ihirds oil
: labor's earnings, but 1t frankly Gays
, The wish Of any one to bet
. ter his condition is human,
: aud 80 in accord with the
hopes and ambitions the institutions
c Of this county encoui age, that one
I cannot help feeling sympathy with the
: efforts Of the under man to climb up. y
4 This aspect OF some q lhs rail- Dads ID
2 slso affecting trade; the Eastern hne'
!. are settling their cohtstts but the
0 West, IL is stated, lis preparing fol
r itself even a worse contest" The
/. fault lies in building roads where they
o are not wanted or before they are
@ wanted. We net long ago thoGght il
r a great thing to have one railway Ia
= the Pacific, now we have five cont'nu.
/. Gus routes, and as many more thai
n compete for the business part OF the
}, way. ave do not know" Gays the
n Chronicle, "wbat inducements there
a can be for further lines in this terri
Q tory, and get nearly all the Chicago
d oompa6l6s that hsve got as far az
Q 0mshs ,ntemplGte lines to the Pa
It cineY and are daily pressing
n ftsther west. Already cutting" hal
If begun, and passengers can get from
|, New York 10 San Francisco for $40
A and even on the Southern Pacific o.
d on the Atlantic Pacific for SIS. Will
q all the strikes taken into account, tn,
,s vast sum Of moneys drawn from tn,
Is banks aud put into active trade ough
II TO make q movement that woul'
', vastly brighten matters. AZ II fails Il
.s do that, the New York BVlstin come
" to the conclusion that speculation
q causes most ofthe increased deman,
Il for money.