Year: 1874

It IL an encouraging incioent OF the situation
that the Western papers recognize the fact that
Improvement has been steadily going forward,
and now but little remains to remind US OF the
dangers and trials through which we were passing
only year ago. The causes which have promoted
this early return to comparative prosperity can
be found In the remunerative prices our farmers
have received for their products; the tact that
that they had last year abundance Of the latter
to sell; that their Eastern and European custom
ers were forced to have them, and that the freight
charges for the year have been less than usual.
During all these months the people have been
practising close economy. They have sold more
In values than they have bought and hence some
have been nquidating obligations, While others
have been largely adding to their wealth and pros
perity. While the shipments Of cereals eastward
may this year fall below those OF the last about ten
per cent, and the price Of wheat since July has
been much lower than for the previous year, the
better figures realized on corn ana oats and some
articles OF provisions will make the value OF the
exports eastward fully equal to those OF 1873. BY
economizing the people OF the West have saved
millions OF dollars during the past year, and there
Is, therefore,


A BETTER CONDITION OF TRADE


and healthier activity among our merchants and
dealers than Is claimed Tor New York and other
cities upon the Atlantic seaDOard.n Thirty years
ago the first shipment OF grain from Chicago
amounted to seventy-eight bushels Its export
trade now ioots up in single year $500, 900, 0Ool
1t h doubtless, the influence OF this better feeling
at the West that has LED speculators from that Sec
ton to take fresh hold OF the New York stock
market and give prominence to certain lines OF
Western securities. The advance In Northwestern
and ST. Paul is due to the infusion OF this new ele-
ment, added to other local causes, and hence the
feeling Of the street at the close OF the market
yesterday was generally in favor Of higher prices
IN the near future for this class OF securities 1t
will be observed, however. that the prices Of all
the 'ancies' finally declined from the best figures
OF the day.


THE REPORT OF THE CINCINNATI CHAMBER OF CON-


MERGE


also furnishes gratifying evidence OF the renewal
OF trade and commerce In that city during the
past year. The imports for the year show gain
over the preceding year of s5,754.OO1, while the
exports show q gain OF Ss,2l6,OS4 The trade IN
cotton and tobacco has increased; the exports OF
grain increased sixty per cent, the receipts OF
corn were the largest known IN the history OF the
city, and the report concludes with the observa-
tion that, In view OF all the circumstances, care
ful review OF the past year, in commercial sense,
is favorable and encouraging.


THE MONEY MARKET


The two extremes Of the week In money were
2h and per cent on call loans. At these rates an
abundance was offered. although at times there
was q tendency toward Increased 1irmness Thls
however, was not maintained. Loans were made
on government securities as low as 2 per cent.
For first class commercial paper an active demand
was established at and 6H per cent the lower
grades ruling at from to 10 per cent according
to grade. Foreign exchange was firm until near
the close, when the demand declined and the
market weakened. The following were the last
nominal rates:-