The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-10-29


as to the time and manner in which the large depo-
sits accrulng upon railway projects must be placed
IN the hands of the Accountant General. AT mod
crate estimate the sums which will thus have to be
provided amount to no less than 80 900 900 sterling,
more than the whole circulation OF the Bank of Eng
land, AND perhaps, three times much as could be
Withdrawn at any one time without seriously embar-
RAISING the whole currency OF the country There
ls not an individual, however experienced in none
tary affairs, who is able, satisfactorily to his own
mind, to explain how this money is to be provided
especially II large proportion is called for at the
ton, therefore, universally asked and which would
probably puzzle the Accountant General himself to
answer, is, how much would be wanted at once land
what would be done with it when in his possession?
AT present the money arising from railway deposits
instead OF making any scarcity, rather increases the
previous abundance because 1t passes into the hands
OF the various bankers to the railway companies,
who, OF course, employ it again to the extent to
which they consider they may safely and prudently
do 80. According to general conjecture, the month
OF February being that in which Parliament opens,
VIII De the time on which large portion of the
money will, In due course, be required; but the SUBJ
lect will demand the most vigilant attention on the
part OF the Chancellor of the Exchequer in reguIa-
ting Its progress and 1t is thought by many that it
may prove an over.match tor the utmost degree of
caution which the Treasury can exercise.
IMPULSE GIVEN TO NEWSPAPERS BY THE RAILWAY
MANIA-The railway mania knows no Abatement
1t appears on the contrary, to increase The daily
press reapng rich harvest by the prodgal out
lay. an the leading organs OF opinion are obliged
to STINT their readers OF their customary quantity OF
intelligence, to make room tor the lengthy prospec-
fuses which set forth IN tempting colors how speedi
ly fortune Is to be made by dabbling in their
wares. The diurnals give every day supplement-
large their regular sheet stuffed with these an
nouncements, and on some occasions second daily
supplement- Is found insufficient The propretors
OF the daily press are "making hay while the sun
Shines" Their charges on these announcements
would be deemed increduous in any country but
England leading morning paper receives, in the
course OF one week, at the present time, from the
source to which We aude, much hard cash as
the chief magistrate of the Union is paid annually
tor his services. How many German princes would
gloat over the revenues OF singh newspaper esab
lishment. AS to the weekly and semi -weekly influx
OF newspapers, that spring like mushrooms into
lsence, devoted to railway purposes their name Is
''egion." When much money is to be made
there is every temptation to raud-and it is pretty
schemes deserve that appellaton in its fullest ltal
cs-d sense Attorneys with little practice and less
character, are found, who, with a secretary Of the
same calbre, set the bubble IN motion, and, by a
process perfectly well known to the initiated, get q
batch OF persons, of seeming responsibility and high
sounding Names who sell themselves to the concern
on the understanding, that fail theyare to be held
harmless-if it succeed, they are to share In the
spoil Herewith | send you fat goose--pucI
him. was the quaint introduction which lawyer
once gave to client when he introduced him to
brother shark and the same description applies, at
the present moment, to many an unconscious votary
of Putus in the purieus Of every stock exchange in
the kingdom -LverpoOi Times, Oct. III
The STEAMSHIP MAssAcHUsETTs-The steam
ship Massachusetts arrived here on the Bird instant,
after passage of III days from New York She is
new and beautiful vessel rugged tor sailing ship,
with the addition of the propeller Her first
passage across the Atlantic proved most satisfactory
In every respect. When oil Liverpool, letter was
addressed to Mr. Forbes, and other proprietors OF
the ship, by Colonel Perkins of Boston, and the
other passengers on board. The testimony of SO
able and experienced gentleman as Col Thomas
20 lrtro nj In fret IIaL
one OF the greatest travellers by and land, and
after long and honorable life devoted to COM
merce, he again, at the advanced age Of so years.
visits Europe with view OF farther extending the
commerce and intercourse OF the two countries.
INCREASE national WEALTH.-In an article
on the annual accumulation of capital in the Econo-
mists RdIicay Monitor of the 4th instant, we meet
with the following extraordinary instances of ex-
tension In 1870, the whole OF the shipping belong
ing to the United Kingdom was 2 6is593 tons al
the commencement OF last year 1t had increased to
3,5S5, 1897 ons notwithstanding all the ships which
during that "a years had been worn out or lost at
sea. In 1920 we had cotton factories capable OF
working up Isl 900, 600 ID. of cotton wool, and
we have extended them so, that last year we work
ed up more than zoe, 600 lbs. In 1920 we had
wooen factorl les capable of working up 1861 900
10. OF foreign Sleeps wool, and now we have in
creased them TIL they have consumed last year 3d.
493,OOO To- of foreign wool, independent OF the
crease which has in the meantime taken place IN
the home growth The silk linen, and other ma
nufacturng pursuits have extended1n similar way,
and this has all been done by the annual invest
lnent OF the savings OF the country, either in abso
lutte extension of mills, in improvements in the
productive power of machinery. The declared va
lue OF our exports in 1920, E5, 568 900, and the
official value of our imports E3l 900, but last
year our exports had risen to f5S 5S4 900, and our
imports to Els, AL ,555
The Harvests In Europe.
The Mark Lane Express OF the 9th instant, SAYS
In the northern and eastern parts OF the kingdom
there Is still good deal of grain in the fields and
the weather seems to have been quite as unset
tied there as with u.s. the conclusion OF the harvest
must be still further delayed. The chances of the
remainder OF crops in the later districts being Sc
cured in tolerable order, are, therefore, very
slight. In early seasons the northern counties
sometimes fare better than the south such was the
case last year, and the enormous produce of wheat
in Lincolnshire and Cambridgeshire did much TO
swell the general yield. Thus season the deficiency
is likely to be much greater in the backward than
in the early counties; the corn not ripe there
till the weather became decidedly broken, and the
quality will, we fear, prove even worse than the
yield We cannot, therefore, calculate on anything
like the large supplies have been in the habit OF
drawing from the east coast. The western side OF
the island has been the more favored this season,
but even there the produce of wheat 10 the acre IS
complained OF, while the weight per bushel is GER
tainly two pounds less than last II is, there
fore, too certain that the total produce OF the king
dom must be regarded as short Of usual years, and
steady and progressive rise in the value of bread
suifs must be expected. The upward movement
may, and probably will, from time to time, re-
ceive checks; but on the whole, wheat will. we
think, advance IN price until next spring. After
that time much will depend on the then appearance
Of the CROP the probable extent Of the spring shin
mens from the Baltic, and other causes. of which
nothing can at present be known.
The Grain markets, both in liverpoo