New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-24
MONEY AND EXCHANGE.

Ei rann,S ,.''...,. Siss BIS
K.ichsmarkr 49,. sit ~
| Cuiiders f"s4 f"'i
The price Of domestic exchange a. follows
In the places named: New-Oreans commercial
25c.. discount: bank. at 81 30 PREMIUM san iran
! cisco. sight 7isc telegraph 1oiac.; Charleston
buying par selling izc premium; Savannah buy
| ing i-I6 per cent of selling par Chicago. Toe
premium; Boston par t. 7isc. discount. .
Bank clearngs In the city were: Exchanges.
s99G72. $50; balances t6.359.29l Baltimore-Ex-
changes. s2I92O7s; balances. sil9.j2s. Philadel-
pha-Exchanges. slO76i .l32' balances. sl,532'o'2'
Boston Exchanges. $li7S93S3. balances. Sl'"'z'-
2s4 Chicago-Exchdngcs N422o'o2; balances
Sl.23O0S3
The price Of commercial bar silver in this mar
kci was 6724c Mexican dollars were quoted at
54c In London bar silver was unchanged AT
BID.
Money on call in London was h4ls per cent.
and the ra Of discount In the open market was
y per cent for short and long bills. t.ngNsh CON
soils 1l2h for both money ana the a,sou'.'
French rcntes were quoted al l0- francs 10 ,"n-
times with exchange in London - francs 1919
centrncs The discount rate In Paris was :
per cent and In Berlin q. per cent The bnlioh
In the Bank OF England Increased ifzfszo IN me
last week The proportion Of the Bank Oh ENG
lands reserve TO liability, which last week was
80 80 per cent Is now 500 per cent. against uc-
cline from GS 10 per cent to bi3o per cent IN inc
corresponding week last year. The Bank OF Eng
land rate Of discount remained unchanged AT
per cent. The weekly statement Of the BANK OF
France showed an increase OF l.62o.ooo francs
gold and a decrease of 100000 francs silver
Further details OF the foreign markets are given
I'm the usual cable report printed elsewhere
The importance of maintaining the gold stand
ard rs ably treated Of in the April circular Is
sued by the banking house OF j. H. DAVIS a.
Co. the following selection from the letter show
ing the fallacy OF the cheap money" advo-
cafes Here Is Great Britain upon an inflcxi-
bic gold basis. and yet In London Is an eh2r-
world Why? Because British money means
gold For every IS note OF the Bank of Eng
land five golden sovereigns can always be had
for the asking. Put the United states apso
lutely and irrevocably upon gold basis. ana
British gold will be at our service In such
amounts as TO give support To all OF our legiti-
mate business enterprises. The stock on loan
able capital at our financial centres VIII De 80
Increased that the whole country Will share IN
the profits resulting from Its use Cheap
money Is a msnomer. deluson ana SNARE.
What we want Is an abundance 81 good non1S
money that bears the guinea stamp Oh WORTH
and good for It's face throughout tEe Woriu-
hui not an arbitrary number Of ounces or wnlte
metal or pounds of iron. or cords or "oou, OF
wards In cloth. or square inches OF paper wiz
the Legislatures at Denver or Topeka OF 'he
Congress at Washington may declare 10 De az
oond no gold No other single factor VIII 90
So much TO make money scarce and dear aS
such a legislative liz. ,.,. - the
Holders Of the &c! .ifcltes OF deposit OF tne
Manhattan Trust Company hrst mor.k"s % iIrnaJ
~ the seattle Lake Shore and Eastern Railroad
Germany iare Informed that these ceruh.ao'
musf be stamped as asserting TO the plan Oh re-
organization before May J.. ,,,,astor,
Messrs' r edmond Kerr Co. offer to investors
:. oois aud accrued interest subject to advance
without notice. a limited amount OF nrst noI,
cage per cent gold bonds Of the Spring bIuoh
water Supply Company. OF pennsylvania gIm
cipaI and interest payable In soio' '"e 'e"