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MONETARY MONDAY EVENING. June 18, 1881. The money market is dull and uninteresting No change from day to day gives us but little to eas but while on the surface it le hardly possible to detect difference, we are constantly hearing of isolated facts, which, when ranged in order. satis. fy us that financial matters are beginning to rest 0 upon more substantial basis. Among these we II notice that the practice of reducing everything o to coin when deposits are made is becoming more general, and our merchants are highly pleased with the change. The discount on the funds de y posited is at once charged up, and then merchants can have the coin when they want it, or exchange at X per cent premium Let this course be pur mud for sixty days, and it will be established 60 if firmly that no set of " wild-catters " will ever be able to drive our merchants from it. Goods can then be sold 80 cheaply that Chicago will- she long since ought to have done-dety all Western competition. The increase of the trade of the city would very soon cause so many cheerful faces that the effects of our infamous secession currency would be forgotten. Let our merchants, there fore, mark down their goods to the lowest possi ble limit, and require coin or its equivalent in payment, and Chicago will no longer be subject, every three or four years, to a financial reval sion. On the Board of Trade to-day exchange sold at par @ 36 per cent discount for coin, and at you per cent premium for approved currency The banks sell very little, and with them tie price would be about 1/2 per cent above the Board of Trade rate. La Crosse County Bank did not open its doore to-day. The circulation of the bank is based on Tennessee stocks. the value of which has become BO depreciated to present no inducement to respond to the call of the Bank present Comptroller the moment In justice to the depositors and creditora the bank President Lathrop, in view of the unsettled condition of financial matters throughout the country, pursue what will doubtless prove to be well-advised and judicious course. In a card published in another column. it is stated that no loss will be sustained by any the depositors or creditors of the bank except the inconvenience of delay.- Crosse Re publican, 15th. MICHIGAN AND IOWA STATE LOANS An advertisement from the State Treasurer of Michigan will be found in another column, inviting proposale for State loan of $500,000 for the equipment of the regiments of that State, the bids for which are to be opened on the 8th of July. The bonds will be issued of four different denominations $50e, $100s, $500s, and $1,000s. It is expected that the bonds of less than $500 in amount, will be taken in Michigan. The Legislature in author izing this issue of bonda, has limited the amount to a sum not exceeding one million dollars. or this amount it is not expected that more than the sum now offered ($500,000), will be issued. Great care has been taken to make the loan a desirable one for capitalists, the bonds, among other things, being exempt from taxation. The rate of interest is seven per cent.. to meet which a tax has been authorized and a sinking fund provided for, for the gradual payment of this loan. The funded debt of the State is only about 26 million dollars and beyond this it cannot be in, creased, except in case of rebellion or war. The bonds of the State of Michigan have always been considered a favorite among capitaliste, and they will doubtlees beall taken on most favorable terms. The advertisement for loan of not exceeding $400,000 to the State of Iowa will also be found in another column. No eafer investment can bemade, and it should command the best terms among capitaliets. No State will show more rapid progress in the next ten years than Iowa, With a most productive soil, fine climate, and a highly intelligent and enterprising population, she will rapidly assume leading place among the States of the Union. If we mistake not, ehe has no debt-or, if any, a mere nominal one-and her bonds are in all respects a capital investment MILWAUKEE TheSentinel of this morning W are able to note very satisfactory feature In the money market. wit a better supply of exchange, All our banks sold freely to customer today at 5 a cent premium, and the general buying rate was about 5 cent the way of discounts there was comparative little doing. owing to the inactivity in the produce market. WHAT IS THE MILWAUKER GAME 9. The produce peculators of Milwanked have been used by the bankers of that city to dietribate among the farm ers of the Northwest the bills of certain number of Banks as Wisconsin Currenc in exchange for wheat at higher prices than eastern markets would warrant. under the assurance to the publi that their circulation would be by the associated Banks designated in the approved list adoptcdat the Milwankee Bankers avention on the 26th of April last. Milwaukee has been glut ted with wheat and relieved of ite currency Whileexchange has been quoted at Chicago at K@ Eper cent. premium for coln. (you mistake ex change and has been K@% discount for coin) or its equivalent. and been quoted at Milwanken at about cent. premium pavable per six in currency the merchants and country Banks have found it difficult to purchase at Milwankee at any price; and this too while the larre receipts or shipments at Milwankee should have made exchange abond ant These facts are suspicious features in the Milwaukee Bankers gramme Have MIIthe waukee Bankers got rid of their Wisconsin cur rency" by purchas inc wheat at prices far exceeding its cash value, and by refusing to sell Bills of Er change drawn against shipments of produce, cept for coin or its equivalênt, converted, through this double transaction. their so called "currency into special The suspension of several of the Banks in the approved list of the associated Wiscons Bankers furnishes an oppor tunity to get at the real merits of the arrange ment entered into at the Bankers' Conven tion at Milwankee and the public should be no longer deceived or kept in Ignorance as the programme. What to be done with $19.000 Creulation of the City Bank of Kenosha. the actual value of which has been estimated at 59c on the dollar- the $46,000 of the Wisconsin Pinery Bank, which abon the $12,000 of the LaCrosse County Bank has been ued at 53c, and the circulation of large number of other banks that have either pended, or must inevitably suspend before the piration of the obligation of the associated Banks in the list approved by that convention The Milwankee Continen and the Milwaukea Press & News assure the public that the loss will be sus tained by the Bank Is that so in point of fact The circulation of these crippled Banks is in the hands of the farmers laborer and merchants. and County and City Treasurers throughout the North west. will Milwaukee Banks continueto them as currency until the 1st of December and not re-issue them back to the people before that time above their actual value Or will they insist these bills shall be paid out and received as here tofore. EO as to keep them among the people This is the time to have the matter well defined and understood. We ask for information The people are entitled to correct and explicit state ment of the policy and determination of the Mil waukee Bankers on these points. The mere trash of puffor explanation at the hands of some irre ponsible City Local will not meet the case. us hear direct and fully from Head Quar tera on these points In the meanti we advise farmers and all other persons to not part with good prorerty for cons of uncertain or doubtful value La Crosse Republican 13th. GALENA & CHICAGO UNIOX RAILBOAD COMPANT. Weekly statement of earnings, from June 9th 15th. 1860 1861. Freia $15,765.84 85,666 59 Inc $19. 900,65 Passengers 6,123.25 7.047,9 Inc 924.74 Mails, &c .100. 1,000 100.00 Inc
