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We have here OF the principal causes Of the re-
cent contraction in the money market The Government
banks Of the three cities have been drawn upon within
the past month, for than million and half Of
dollars The bank Of America has suffered the heaviest
drafts but far the effect has been confined to stocks
These government banks anticipated a much heavier
draft and held themselves in readiness meet any de-
mand the Secretary Of the Treasury might make To be
prepared Tor any drain that might cone these instu
tons compelled to draw in nearly every loan out
standing stocks and TO refuse further loans on se
cuity. 1t is possible the Treasury Department may
mske further drafts these banks and until 1t is pretty
well known that the deposits may rest where they now
are, the money market must be sensibly affected. It
would be better for this market, every dollar Of the
deposits removed from banks So long as
the government funds used by the banks to afford ia
cilities to spectators, &C., will be impossible to main
tain any regularity in money and commercial matters


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