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MONEY AND COMMERCE. MONETARY. THURSDAY EVENING, Feb. 12. Notwithstanding the large amount of money absorbed in carrying grain and provisions in this market, the supply of loanable funds in the market is greater than finds employment. It is frooly offered on domand lonns nt 8 por cont, and on time loans at 10 ; but there seems scarcoly any inducement to put the rates of money lower than these figures. In this market, when a borrower wants money at all, he wants it bad enough to pay 10 or 8 per cent for it, and the difference of 1, or oven 2, por cont on short time loans would not be sufficient to induco him to embark in any onterpriso which be otherwise would not. In the Eastern markets it is different. Speculators BOOKER up 1001x0 ] U 01 [vop which fluctuato less in price than Western prodnote, and when the rate of interest ou money gets below the average rato of dividends on cortain stocks it is borrowed to carry the stocks or speculate in them. In this market, however, the supply of money, be it over 60 abundant, soldom puts the rate of money below 8 per cent on domand and 10 per cont on sixty or ninety days. What is not used at these ratos either lies idlo or Is sent East, where the Now York banks pay 4 per cent on current balances. Now York exchange continues weak at 75c por $1,000 discount. Currency shipments to the country are still pretty large. CHICAGO BANKS DISCUSSED IN LONDON. It scems that the Chicago banks are doomed to be belied in regard to the position they took during the panio last fall. Hero in the West, even our rivals, Cincinnati and St. Louis, were honorable enough to acknowledge that, while the banks in every other large city in the United States stopped currency payments, the Chicago banks continued to pay currency on demand of their depositors throughout the panic. The New York papers, however, with the exception of the Now York Journal of Commerce, ignored the fact, and said that all the banks in the United States suspended currency payments. An article on " The Panio," in Harper's Monthly Magazine, boldly asserted the falsehood that the Chicago banks suspended, as well as all others in the West. But now comes the most unconscionable misrepresentation of all, from the mouth of Mr. R. Potter, the President of the Grand Trunk RailGrand only JO " 1V 10 AUM Trunk Railway Company in London, reported in the Times of that city, Jan. 23, Mr. Potter dolivered bis report of the working and financial condition of the road. In this he took occasion to Bay that he sailed for America in September, and whon he arrived found that a great commercial storm had commenced, which swept over the whole country, reducing the value of almost overything. He then," BAYS the Times' report, described the state of things during the whole panic, both in New York and Chicago. For a whole mouth,' said Mr. Pottor, 'there 1008 only one bank that continued business in Chicago, and that was their Canadian bank, to which the American people brought their capital. If Mr. Potter is interested in the Canadian bank which has a branch in this city, he would this Sumplin Sujop 10 Suides 10J oppronold en was honorable to bring it into notice, But to tell in London a wholesale falsehood for the sake of giving his bank a prestige to which it was not entitled by any of the circumstances of the case, and in SO doing to misrepresent rival bank in the city, was not only dishonorable every in Mr. Potter, but doubly 80 from the prominent position ho occupies as President of a trunk line of railroad. If Mr. Pot- great tor had not been in Chicago during his visit to America, there might be some excuse for his statemoute, on the ground that he had heard such reports. But Mr. Potter was in Chicago, and must have known, if he know anything about Chicago during the pauic, that the First National, the Commercial National, the Morchants' National, the Corn Exchange National, the Fifth National, the Northwestern National, the Merchants' Savinga, Loan & Trust Company and several others, continued to pay currency on the demand-checks of their depositors throughout the whole panie, or and that, in order to do this, they brought
