The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-09-08
ri, 10 boundary far different from tina, which

submit 10 a boundary far different from that which
might be established before going 10 war.
The people Of the United States generally approve
Of all the President has done in relation TO guarding
the country against the threats OF Mexico, whether
real or preteded being, at all events, ready for the
worst. If tho opposition attempt to 60, before the
people this issue, they will find 1t 10 fail them
most signaly.
The feeling in favor Of railroad building is revi-
wing to some extent. The Harlem Railroad Compa-
ny have advertised for proposals for grading their
road for the distance Of twenty miles beyond White
Plains, towards Albany
The directors of the Erie railroad have also made
appeal TO the public in favor of that important
work, and invited subscriptions for stock on very
fair and liberal terms. The necessity of uninter-
rupted communication with the western part OF the
State, and the city, during winter, when the Hud-
son is closed with ice, becomes more clear and inn
perative every year. Boston derives great advanta-
ges by open winter communication on her western
railroad with western New York. The New York.
ers feel this; and the wonder is, that they have not
had the Albany and Erie railroads completed long
ago The latter is road Of great importance TO the
city Of New York; and, when completed, will do
more to cut off or cnrta the rivalry of Boston, by
means of her road to Albany, than any other work
of internal Improvement within the State.
According to late accounts, kind Of railroad
monomania prevails in England Works OF this
sorbing vast amounts of capital They attract the
attention Of capitalists to such extent, that 1t 10
said TO be extremely difficult draw their attention
to any other mode ofnvestment
III is stated that, at the last session of Parliament,
as many charters were granted will cover 2 800
miles of railroad. The value of iron must, of
course rise; and we have heard it estimated, by a
very intelligent observer that for ten years TO come,
England will not be able to send us much of that
article, if these schemes are carried out with sue
cess. Our own iron will, therefore, be worth
more to u.s. and 1t can spare more of the duty now
imposed upon the foreign article. The railroad
spirit, too, is prevailing in France and almost all
other parts Of the continent. The present was
lately called the age Of steam 1t may properly be
styled the age of railroads UNION.
| One thing which, it is supposed, strongly recon-
| mends railroad investments, is the fact that they
| are home interests
| The English have suffered severely by foreign
securities. They loaned heavily to old Spain, and
suffered severely in the depreciation of Spanish
| securities.
They loaned from 60 to 80 millions of dollars to
Mexico since when, her bonds have fallen down to
| 80 cents on the dollar.
| see by the papers received by the Caledonia,
that the circulation Of rumor on Change in Lon
don that Mexico intended, or was going, to war
with the United States caused her bonds to fall two
or three per cent from their former quotations. 1t
not much TO believe that in the event of actual
hostlities being commenced, her bonds would recede
in London to twenty or twenty-five cents on the
dollar Where, then, is the loan offfteen millions
to be obtained!
With the attention of English, and, may also Add,
of continental capitalists, being directed to railroad
building, it may be considered hopeless job for
any foreign government, even of good standing,
to borrow large sums Of money in Europe at pres
ent.
One would think the English had had enough of
Mexico. If they have lost in Mexican bonds, they
have lost sti W hu Mevican
erations. Soon after the Mexican ports were OPEN
ed to Great Britain and other nations, after the over
throw of the Spanish authority in that country, a
mania sprung up in England for mining in Mexico;
being excited in some degree by the accounts Civ
en- by Humboldt and others, of their richness, &c
About twenty companies were formed in London,
first and last, for the working of mines in Mexico
The fever soon ran so high that shares, which on
ly cost 9iOO rose to f500!! The crisis of 1925
approached. The banks became drained of means
TO pay for various other speculations at home.
The panic of 1926 and 1897 did the business for
the London and Anglo Mexican mining companies
Out of the twenty concerns, scarcely one left
standing. Shares that had reached as high as $500,
receded to from eco to COS per share!! What have
English capitalists to hope from further loans TO
Mexico? A Mexican correspondent of the London
oTimes" charges us with desire, if not a design,
to acquire the Mexican mines!! can only say, if
they should ever become the inheritance of Anglo
Americans, and be no better managed than they
in the hands of the English, they will prove to
be ruinous acquisition. The writer has mistaken
the spirit of our people. They neither desire nor
wish the possession Of the Mexican mines Nor
do they wish the dissolution of the Mexican States,
so long they will conduct themselves in good faith
towards us, and cultivate peace with us in place of
war.
The hotels are very much crowded at present in
New York. Many persons are coming in from the
different watering-paces
The week has closed on fair amount Of general
business transactions. Cotton sales have been con-
Siderable at stationary but firm rates. Flour sells
for about "a rs for shipment to Europe. Other ar
tcles without material change Stock market quiet,
with gradual reaction going on, since the tempo
rary depression has passed away, produced by the
first panic about the Mexican war.
am, very respectfully,
Your obedient servant
MORGAN.