Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1845-06-04

viding means for promptly coming the pre-
cious metals which arrive here, was sole
cism in finance. We have dwelt thus up
on the detail Of coinage, because the diff
Guilty Of access 10 The mint has been
main reason why the precious metals have
[ior so long time) reposcd in cumbrous
masses upon the seaboard, leaving the in
terror Of the country scantily supplied with
currency. Our laws, it is true, allow oil
the circulation Of foreign coins as lega
tender, but when the people al large are
unacquainted with the appearance and va.
lue of strange coins offering, it is in vain
to expect them to circulate freely. They
remain in bank vaults, and the purchaser
of produce is compelled to pay out paper
because he cannot, without expense, pro-
cure American coin, and foreign pieces
are taken reluctantly. The rapid opera
tons Of the branch minis are remedying
this matter, and specie flowing up" the
western streams is steadily and gradually
filling the channels of circulation, afford
ing firm basis for the circulation of in
dividual bills representing the actual ex-
changeable productions of the country.
The increasing export Of the agricultu-
raj productions, is drawing these specie
funds into the hands of the farmers; while
the markets, becoming relieved of the sur
plus supplies, evince an advance in prices
which materially benefits the farmers, and
lays the foundation of a greatly increased
general trade on healthy basis. Ii is
also remarkable that while the United
States have, in the last few years, drawn
10 themselves such large amounts of the
precious metals, the production of gold
has increased in Russia to more than
corresponding extent. The mines oil Rus
STA are situate in the Onra mountains, and
IN Siberia, and are worked both by crown
officers and by individuals.
For the last two years, the product has
been $l0,000,000 per annum, and is ra-
pidly increasing. The effect of this large
production, doubtless, is TO assist in produ-
cling the apparent disposition of gold 10
flow westward, and OF silver TO 90 east,
the relative value changing as the former
becomes more abundant. This process
comes in aid Of the gold bill of 1884, and
may, before long, lead to revision of the
law, and TO REIMBURSEMENT nf the relative
legal values. Another reason for the ten
dency OF the precious metals to the United
States, exists in the commercial policy Of
Inc British government, and the increasing
ing quantities of agricultural productions
which it annually requires, and the de-
nand for which is yearly producing more
results 10 The external commerce
Of the United States. 1t is undoubtedly
true that since the war the general policy
Of the British government has been 10 re-
luce the money prices Of all articles Of
both by restricting the volume
Of the paper currency of the United King
dom, and by the removal of duties, which
70 to enhance the cost TO the consumer oil
raw articles, and the cost of producing
hose manufactured for export. In rela-
non TO the currency we have had occasion
before TO remark that the virtual return TO
! specie currency, under the act renewing
he Bank [ot England Charter in August
asst, was but another step in that general
course Of policy commenced by the bill of
1919, restoring the. then deprecated cur
rency into one convertible into coin. The
to redeem in coin on demai
United the currency TO an amount far be-
ow that which could be kept in cmcula-
ion, without that requirement. 1t how
ever left the ability to expand dangerously |
yreat, being as E3 of paper to FL Of gold
IN hand, or If, in the course of trade, fl |
If gold was brought into the country, it
became the basis Of e3 Of paper curren-
". The act of 1874 again reduced the
init Of issues, which can now, by the spi-
it of the law, not to be made TO exceed
he actual influx of coin into the country.
This apparently brought the volume of the
urency TO its lowest level, but there re-
Mains to restrict the Scotch and Irish
anks 10 an amount beyond which their is
ues cannot be put out. This is in CON
smplation, and also it is alleged 10 sub
ilute ultimately the single issues Of the
'ank Of England for those of all other
'anks.
The tendency of all those restrictions
pom the multiplicity of paper money has
cen not 10 reduce prices, but to prevent
lat unnatural rise which always attends
10 great circulation Of Bank credits,
nd IN which revulsions ase inherent, in
smuch as that the direct effect is to check
yporis and promote imports, which re-
lirc under such circumstances TO be paid
'r in coin.
SOMETHING NEw.-The United States
Iotel, at Rochester, New York, has been
'nted by a company Of ten individuals |
" joint occupancy, as mutual boarding
1use, at a rent Of $3.50. Borders are
ken at low prices. But the peculiarity !