The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-12-11
EDITORS CORRESPONDENCE.
From our regular correspondent
NEw YohK, Dec. 8, I645, a. p. m

NEW YORK, Dec y, lo4o, Al p. m.
Another dull day on change.
Flour, common Genesee sold to-day al IS 81 |.
The article may be considered very dull at s. SO fol
fair Genesee.
| Nothing OF consc 3aencc was done in western pro-
visions. 1000 bales of cotton sold to-day at prices
which may be considered slight advance over the
rates current sprerious TO the receipts Of the Cam
| bria'e newsi
Il is discovered that our dealers in this market il
provisions and breadstutis have, by speculative
feeling, been carried up to prices which the Europe
an demand has failed TO justify. There are few ar
ticles Of agricultural produce which will bear ship
ping, at prices which they have reached within
the few days past
Cotton partakes of the frmness which characteri
zed the Liverpool market prior to the sailing of the
Cambria.
The fall in flour has been almost as sudden and as
rapid as its rise.
Stocks egan declined to-day The greatest fall
| ing off was in railroad bcndsi many Of which de-
cned from to per cent. Government, 6'sj how
ever were firm at slight advance.
severe panic prevailed at the stock boards yes
terday and to-day, partly owing to the position and
prospects OF the Oregon question: and partly to the
prospective establishment Of constitutional sub
beasury or currency In the event OF Congress
adopting the sub-reasury system, the banks holding
government deposes would no longer be enabled "a
make discounts based upon the custody of the public
money. Being reduced to the necessity of limiting
their business TO means of their own, would neces.
sariy create greater s!rngency In the money mar
ket.
| The passage Of the sub-treasury would force
many of the banks to become sellers, rather than
purchasers OF stocks, which would have tendency
! to depress their market value. This question is
considered by many persons as more potent at pres
et in reducing the selling price of stocks than any
other whatever. The eEeet Of such measure
however, can only have temporary influence
Once it was carried fully into effect, things would
soon become regulated by its operation; while the
| business of the banks and Of the public generally
would rest upon sounder basis, and maintain a
healthier condition. The establishment of a cons.
tutional sub-trcasury, for the safe-keeping of the
public money, Is required by lessons of experience
and dictated by the soundest wisdom.
Freights generally somewhat frmer.
| Exchange rerttains without alteration.
| The packet-ship Toronto sails for Lond OH to
morrow.
The packet Francis l. from Havre, has arrived.
The weather is moderate, clear, and mild; accom-.
panied with d considerable thaw.
| Yours, very respectfully,
| P. ST. regret 10 announce that failure took
place yesterday in the cotton-brokerage line, or
suspension it is reported for some $50 900 $50,
900 There are rumors, also, of failures at the
stock exchange. give both rumors as ] have
heard them, without vouching for their truth.
Yours, &c. M.
December 10, ls45, s a. m.-The steam propeller
Massachusetts sails to-day for Liverpool.
Since closing my letter yesterday evening, learn
ed, on good authority, that sales Of common Gene
| see -four were made to considerable extent al
| IS IS, and closing rather heavy at that.
| Yours, very truly M