Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-15
EIO.3TO135

gentle increase, thouSh materially uhuei TIC ISSUE U
1896
"The effects of this policy on the American trade will
be favorable II may counlernct the decline anticipated
in cotton and other pies from the great abundance
the crop of 1897, and its aggregation at few points,
The expenditures of the Canada will also help ou
trade TO very large extent by the direction it will give
10 large Of specie goods 10 this country AL
ready we begin feel its effects Yesterday over 2OOC
shares IF United States Bank sold for investment
ON English account! without any material reduction Of
price. past Of this for the purpose OF realizing
funds on behalf Of the Stonngton canal-but large
portion was on English account. In fact, the
ration of foreign capital here since the first of January
is beginning to be considerable. We would should not
he surprised f it were by july 10 amount follows
British capital invested in new establish
men,s. s5,OO0,O 900
Continental do. do. 3,00O,O0O
British expenditures in Canada passing
through New York, lOr0oUOOO
American stocks and balances, 5000 900
$4,000 900
"Thus showing, by the middle Of next summer, very
heavy balance in favor Of the country-fT0m these ana
ohsr Influences ii Is TO be hoped Tint the resumption
1noremeni Of our banks ,,iN surmount MI obstaeles
slip from the N. York Express office of the latest
date also sales that American Stocks had become The
prime stocks in the market and the activity in them was
quite remarkable, as they are considered better invest
meuls lhnn the Peninsular stocks the Funds Indian
Stock. which was held by Messrs Morrison ~ Co., IN
considerable amount had been all taken off, and the price
asked was 80 in the full confidence thai it will be OBJ.
tanned by the holders The report of the profits OF the
Bank of The u States has also materially Influenced the
price Of their stock, which is in great demand at t2
10 f25 TO- The stale Of money in this country will, in
all probability still further advance the prices for look
ing 10 The reduction Of the French Five per Cents, and
,hs possible reduction of the Sd Reduced, large ca
pai will be seeking employment adds, that pr.
va,c letters from London and Liverpool state that good
deu of specie will be shipped None, however, had
been shipped up 10 the 1st Of February
The Albany Argus of Friday states the remarkable
circumstance that the Small Notes, recently issued in
New York. " not only find ready circulation, but have
really brought considerable amounts of specie into the
vaults Of The banks and this, unquesonaby, because
they are 7edccmaHc in specie demand That The in
tcess OF the people and the character OF our legislation
demanded that they should be placed on this fnollng-
authorized by statute" &C., &c. II repeats, that at
Auburn Geneva, Rochester, and Buffalo, considerable
amounts Of specie were exchanged with the Banks for
their small bills. The thing occurred at the coun.
ter of the Leather Manufacturers Bank in the city Of
New York, and similar state Of things exists with
the Albany Banks and those of The vicinity. All have
received more less specie (and several Of them cons
dcrable amounts) in exchange for their small no;es-and
as gel those have gone into free circulation, and
have not been returned upon the banks. Such (says
the Argu has been already the effect of the adherence
OF the Senate TO small rcdcemaHc in specie de-
nand-and such will continue 10 be its effect down 10
the period of resumption when the public confidence
having been restored, specie will gradually from
lis concealments will be dhused or will pass into the
banks and no greater demand for it will be made upon
them than Is witnessed at this moment under the small
bill issues"