The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-04-13
S2,S77,754
3,037,904

Decrease. .......1, $40 ,236
Thus find the banks in this State the princ
pal seat Of New England manufactures, and chiefly
between lst November, lS45, and the month of Jan
uary, 1916, increased their loans nearly three mil
lions of dollars while their specie basis diminished
to over one-and-a half millions. This statement of
facts clearly proves what asserted yesterday, that
the New England banks, and especially those of
Boston were in no condition to stand sudden de-
mand for specie, and that revulsIon might be an
tcipated among the manufacturers themselves,
which would be attributed to the reduction Of the
tariff
Taking the 4l2 banks into account, we find their
loans in January, 1886, had increased over those OF
'645 by S26, 963,774, while the aggregate specie
capital diminished from S39 800 1856; in l845, TO
S35 06I 66l; in 1916, leaving decrease of a. l67,
495. In 1912, the year war was declared, the New
England States had six dollars of paper liabilities
for one in specie. They now have eight for one.
Pennsylvania has increased her loans, from lS45
to 1886, from about S23,000000 to S27 00O, 900,
and diminished her specie from 81 900 to 50 900.
This is also a manufacturing State. New York, in
the same time, increased her loans from about
S73,000,OOO to S74,7s0, 435; whereas her specie
amounts to from eight to nine millions of dollars,
and varies in amount only few hundred thousand
dollars less in ls46 than in ls45 While the Mas
sachusetts banks have about twelve millions Of dol
lars on deposite, and those Of Pennsylvania about
the some, New York banks hold thirty million of
dollars large portion of these deposits consists
Of government funds, which forms a basis with the
banks for paper issues and loans. They now, when
the reaction of undue expansion is about setting in
against them, cry out most Justify against the SUBJ
treasury, and will electoneer against its passage
with all the influence in their. power. The State
banks which have expanded the most are found in
Massachusetts, Pennsylvania, Maryland Virginia,
and Indiana. Those that have expanded least are
Tennessee, Kentucky, New Jersey, New York, and
North Carolina, according to population and bust
St,t. .k., snr-a 49,.
tai greater than her loans, and New Jersey ALSO
From all can learn Of the sentiments of business
men in this community, they have not the least OBJ
lection TO the passage of the sub-treasury bill, pro-
vided in going into effect, it be made somewhat
gradual. They are afraid of violent or sudden
charges, operating unfavorably on business. They
say if it is passed, three other ought also
to be adopted at the same time; two being necessary
accompaniment Of the sub-treasury, and which
would give it a,wholesome influence.
|. The sub. treasury.
2. AuxiIiaries--branch minis in New York and
St. Louis.
g. The warehousing system on a fair and liberal
footing.
T. A revenue tariff
These are all important democratic measures, and
the people expect their representatives to carry
them out in good faith, and without unreasonable
delay.
You will see by the papers that we have received,
by the ship Montauk, later advices from Canton.
The Columbus had arrived out, and the ratification
of the treaty had been exchanged. The news other
wise is not very important. Some shipwrecks and
pirscies had occurred.
We have also later dates from Bermuda. The
transportation Of hill Coolies from india to supply
the labor Of freed blacks in the British West Indies
still continued. The lady of Sir John Franklin and
family were passengers in the steamer Thames,
bound to Providence. II is thought they intend to
make the tour of the United States.
have no time to allnde TO cotton rtatisca to-dav
or to the charter election movements of this city.
More fthese matters hereafter.
.Mro York Market, this day. ~ p. m.-Stocks
rallied to some extent to-day. But there is a good
deal Of depression in the market The feeling at the
second board was alec some better
500 bales Of cotton sold. No change in price.
Market still firm.
100 barrels Genesee -four sold at IS a32 The
market left off firm at this price. Wheat (west-
ern) was held a, from 81 ISIS % indl"n corn
(white southern) ct IS cents. Rye IL dull.
Clover seed dull at &c.
whiskey sells, in barrels, at 2sc'
! ..s.'. III Yours truly,
.. MORGAN.