Year: 1872

sATUEDAf, AlTll Zi-P. NJ


The week Just drawing to close has been
one Of general duness and quiet In trade otoes, though
the financial events have been important. Conspicuous
among these the advance il the gold premium from ll6
10 11oa rise two rsnts in one week has led the
thinking class of people to ponder the causes when nave
produced 30 startling rise 70 many the advance was as
sudden ard unexpected was inexpicabs in view of
the pletharic condition of the public treasury The per-
oicous system Of Overtrading with our neghbors over
the waters given as the chief reason for the present
high prcs of gold. We Europe largely FOR the many
Iuxuries sent but unhappy she VIII not take
in return sufficient OF our doncsuc prouucts
TO balance the account the prolonged discus
sion he Alabama question on the adnii sion OF that
india rubber claim known by tho technical name
of consequential damages has the effect for the time
being Of retarding the negotiation OF American bonus
abroad although EurOpes1 capitalists hold largely OF
our rational corporate securities and regard them
with favor The injurious effect of the continued
agitation is plainly seen the unsettled condition OF
adrs as reflected in the higher gold preD that SEN
siye barometer public opinion The dispute Is ono
that IL not amicaby adjusted, must soon necessate
large shipments OF gold hence, and we are
hardly in position to meet the drain. Ihe
sneeie lines OF the banks gradually de-
creasipg the Customs requirements taking some
g. 100000 week. The standard drawers of exchange,
perceiying the position OF affairs, have advanced their
rates 10 point that enables them TO their bills by
exuorts coin and it would seem that fairly
embarked In specie shipping enterprise. with this
new demand and the supply of available gold not unu-
suay increased the outlook more satisfactory to gold
sneculators than to any other OF our busi-
mesa classes We hear OF intended combina-
| tons whereby the scarcity OF gold Is to be
still more keeny felt by the withdrawal OF coin from the
banks In this way compelling commercial traders to pay
roundly It's use and reducing the reserves OF the
banks did the withdrawal Of grecDbacks few days
since The banks during the week have been receiving
currency from the interior but until within day or TWO
II has largely In the form Of national bank notes.
This redundancy Is q OF Inconvenience to
the banks which, being with currency are glad
| TO lend It at nominal rates Of interest. We
should suppose that the periodical recurrence OF
| this national bank note shower would stimulate
the banks to adopt method Of redemption similar
to that I'm use when old Suffolk Boston
the and redeemng agent nearly oil the
New England banks. The more recent packages from
the interior have contained larger proportion of green
backs which, SO goes, affords relief TO the banks
Money has been more easy Of obtsnment this week. and
good borrowers have been able to get all they wanted
AZ per cent better business being also done in CON-
mercial paper


| The Government bond market has been prominent
the history OF the week. and prices On all the
more stad descriptions have advanced TO over per
cent The explanation is found In the scarcity Oh pohdS
| owners OF Government ':pronises TO pay Deihg wei
oontented with their Investment and indisposed TO
change any form The market has been 30 swept
Of bonds that brokers have found 1t Impossible W n