Year: 1859




There is steady feeling in the market for money and
some of the Banks relaxing their rate dates in
discountng for regular dealers We hear of November
paper passed with them at per cent The discount
Brokers report strictly prime endorsed bills due De
cember at per cent, and January at 7kd8 per cent
with fair bills from to per cent above these
The pressure to sell long date paper not very marked
the leading Importers though called pay considera
BILE Eastern duties comparatively easy The Stock
Brokers also light borrowers, and find of their
wants supplied at per cent The arrivals of Mexican sill
yer at New Orleans continues heavy most of which will
find its way to this market and hence England The
arrivals at New Orleans on Monday, as telegraphed,
amount to $S00,000.


After the sailing of the Persia early hour on We'd
nesday morning, there little nothing done in Ex-
change. The rates closed for this mall
London for Bankers Bills 1lo@1lo4, with large offers
TO sell at ITO per cent and Paris ST. l5 The exact
of specie by the Persia for Liverpool is S37S $50


The following is the Bank movement of the four prn
cpal cities, as shown by their last statements:


York SsPs oa sGsGs cGa9E 9egSsts s is;
SI1 nr5eans 49, Aug g. @ lS o9
Boston, Aug b.. 5s2SOOO 4,769OOO 657OOOO 100000
Last FSss Z S a5Ss5 go 555 s55 1s2s 5s49sS
Increase.......... $l28,576 s358674 -. -.


The Boston Post says:


1.-THE Money rket continues in that peculiar state
when rates low certain fayorte notes and
ties comparatively high on anything outside of the
charmed but circle. To-day the large majority of
those who driven into the street paying from
10 per cent for money, whether time CALL and
Il
are not readily obtained at price, and except
II per cent and upward There not much money about
and any considerable business activity would inevitably
produce moderate stngency and high rates The banks
whole, have not abundant means the aggregate spe
Gle being still below five millions with the favorable fact
however, Of good supply of New York funds rendering
it probable that the holding of coin will rather increase
than diminish. And with all this certain borrowers get
all the money they need at per cent Whereabouts
circumstance that would imply that the main trouble of
the market is rather lack Of confidence than lack of
Altogether, we have curious minglng of ease
confidence NIL
but unsettled condition of atfairs'


CINCINNATI Aug. 1.-THE market for breadstufs during
the week has been very much depressed and prices have
declined materially closing with dragging and spritless
trade This is owing to the unfavorable advices
New York. where prices have continued to fall off
rapidly than in this market notwithstanding currency
is still relatively higher than seaboard quotations. It is
evident the dealers here confident of reaction
in the immediate future than those seaboard In fact
there seems to be confidence at all at the East and
prices crowded down if the lowest level touched
within the last five years to be the landing resting
place for the declining currency An impression seems to
prevail that surplus of wheat will be thrown
upon the markets from the West without regard to what
may bring. This have heretofore ntmated is not
in accordance with the calculations producers and be-
fore the fall season fairly sets in parties who antci
patng heavy supplies at the seaboard will find
ry to review their opinions Whatever may be thought
as to the principle that is likely to rule in this matter in
view of the fact that large proportion of the surplus
grain in the country is represented by debts most
which due, the boarding process will be


vey practised and shrewd business shape their
operations in accordance with what rather than
what ought to be- 1t also to be remarked that The sur
plus crops not in proportion TO the increased
yield of the harvest of 1859 that of 1885, in
the latter year large amount of the crop of 1857
carried over, while this the markets in
great bare the first Of July This is an i'm
porant fact not to be lost sight Of There
son, therefore to look for extremely low currency,
than there to anticipate the reesabshment famine
prices and hence the stampede in New ork is either
result of panic it is caused by information regarding
future supplies that is not reliable This state of things
contributes much to produce the prevailing stagnation
the West and until the views Of traders and producers
brought closer together change for the better is be
expected These parties are now occupying opposite
tremes, the first anticipating very low prices and the
second holding for the of high currency
Farmers howeI in this section sell freely of
Wheat at 81 per bushel but lower figures they will
submit to, if they help it, Some of the New York
papers talk about 81 per bushe enough for Wheat in
that market This would be equal about 20 here
and it would net farmers throughout the West
of 40 to so cts. financial earthquake might move
the at those figures but without the interference
some extraordinary convulson of the commercial ele
ments hardly probable the farmers will sell great
deal of Wheat this at equal 81 per bushe in
New York