Abstract

The Week

The article presents political and economic updates of the U.S., as of March 13, 1879. The Board to investigate the Cheyenne, Wyoming, massacre, which assembled at Fort Robinson, Nebraska, at the end of January last, has concluded its report. It recommends that no further action be taken in the matter, as it was the evident desire of every one concerned to carry out the orders of the U.S. Government in the most elective and yet the most humane manner. According to another update, the New York money market has "hardened" during the week, and rates for all classes of loans have advanced 1 to 2 per cent. The immediate cause of this is the continued reduction in the bank reserve, which has brought the surplus down to $4,215,725, against $13,983,825 a year ago. The remote cause was the transfer of legal-tender notes from the banks to the U.S. Treasury on account of subscriptions for the United States 4 percent and settlements therefore.