The times. [volume] (Richmond, Va.) 1890-1903, 1894-07-04

! prises or extending those already estab-
| iished or for the purpose OF buying some,
| thing that had To he palu LOT III actua.
! caSh. In that way the vast noatas tnat
are now gathered together wouiu srauu,
ally be scattered over the Worid, anu
there would probably be complaints 'nae
all the great banks were noldins too
small reserves; whereas now the pahhs a. :
complaining that their unemployed inoiley
Is becoming a burden, that they 10 ho'
know how to employ H. that they can.
not lend IL at rates that leave lhe nov
proht, and that, If things go on as nj nj,
are at present very much longer II ALL.
De impossible TO keep up the rate % have
dend TO which their shareholders NE
become accustomed. The vast acc u. ,,,, v
ton OF money, then, paradoAical as ~ 80, 49,, .
seem, Is not sign OF Sooi tiIlis', nbody
sign OF bad. 1t IS n PROOF tnde Iii 10
VIII give the old amount Oh here
anybody else and that everybody, s.nr n
fore, is more or less paralyIed; At.,onnIs
wnlle the evil must cure i.sg .t,,e Fca,,i-
VIII not go on permanently hoIqtans ,heu-
tai idle. They must live ana enJos ~ n
selves, and to do that. they must ln't,ee or
return for their money, anu SO 80 in
later, therefore, the money ".d.od nro-
vested, and so 1t VIII be scit.e' ,,,,sf
ductlvey over the worl1. Pr oonsnf
be confessed that just Tor lhe ~ 49,
there is no sign of recovery OF conhuenSe'
And as for pure business cohs'ue a
the state Of North ana SOuth tAlie % 9.
lnila and Australasia, IS 50 p'u "a ~" ~,
Is hardly likely there can De any M
mediate recovery A rise In prices "Oulu
soon set things right, but ther tnsIe 0a rn
hardly be a rise in prices unsh III
has been some recovery IN C"IIiiu1 hrNod
Gold continues to pour IN from api Vau'
During the week ended Wedn ,sday night
not far short Of three quarters Oh mn mn.
Hon was received and every thHiS Pointo
to large imports for a consul t"DIe r ~
yet; especially ii Is reported lIoili ii,aI S
81 mat
The price of gold in rupees III liluld -
now nearly twice what - was twenty
years ago and the natives, VINO LaeS
boarded immense sums are telhPeeI
by the high price to sell. Merchants ma
4 more profitable to send gold IMAM com
mOdiues 10 this country, ana IL Is salu'
therefore, that over half mliiloh Ster-
ling will be shipped from BOMBAY dlons
In the course of the current month, ana
that Tor many months to come the snip
ments Will be larger SIN. OI course IL
IS possible that this Is too hlSh an estl-
mate bat If it IS realized tnen the "a
fects both upon India itself, ana upon
trade in Europe will be very great. Mean
while the abundance and cheapness OF
money in London have failed as YET 10
stimulate business. At the STOCK TX
change settlement, which began on Iues-
day morning, members were aoie
borrow all they required at ABOUT -
per cent. The discount rate IN the open
market is barely 81 per cent. ana money
Is being lent from day TO day at IL per
cent.
There is n very depressed feeling In
trade circles generally. Difficulties are
reported from nearly all 80 great manu-
featuring centres-Nlanchester Bradford,
GLASGOW. Dundee and Belfast 5sa.td But ,r the
the foreign trade. The demand for our
goods, especially from the United States.
South America, India and Australia, IS so
exceptionally small that prices nave
fallen ruinously. ana manufacturing ana
exporting merchants have consequently
lost heavily. In the home trade, on the
other hand, there is a marked increase.
Never. perhaps, in the history of the
country, was the amount Of business done
so large. Upon this point the railway
traffic returns leave no doubt Ever since
New Years Day, they have shown re-
markable increases In receipts from goods
week by week. and last week the in
creases were largr than ever There Is
falling off in the passenger receipts
the whole Improvement coming from the
extraordinarily large quantity OF goods
and minerals carried.-London Saturday
Review.