The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-02-13
COMMERCIAL.
From our Commercial Correspondent.
NHw YORK, Thursday, 4p, M,
February IL. 1871.

New York, Thursday A .. M
February ii, 1871
The week has been very quiet one in the produce
kes' The momentous nature of the expected from
Europe had the effect of delaying operations until further
adviees should be received The arrival of the Sarah
sands with dates TO the 2Oh ut. brought advces 10 DAYS
atef' including the simultaneous opening of the French
Chambers and the British Parliament Her news is of the
highest Importance; but the OF affairs she reports
only an aggravation Of the previously existing state of
hings-the march of events towards great results BY the
previous advces taught to look for slrngency in
the European money markets The rise in food, and the
extraordinary demand for money for railroad purposes had
advanced the rate OF interest in the north of Europe ports
AT Hamburg, Antwerp, and Amsterdam, it at and
even 6per cent while the Bank of France exposed in
ordinate demands for silver for the purchase OF in the
eastern countries continued the for money per
The natural consequences of this that German bankers
would procure discounts in Paris at per cent carry the
silver to the northern cites and loan it at higher
Under these two operations the Bank OF France has di-
unfinished its bullion from zoo 600 OOO less than 80 Co.,
OO0 including the amount borrowed ofte Bank of England
and D,O0O,0oof in silver bullion. BY which means the
Bank OF England shows diminished return for specie oil
tb43ooo and has raised its rate OF interest to 81 per
meet the advance by the Bank of France prevent
that from affecting exchanges The continued drain
bullion from France depends upon the to which
purchases oil grain have yet to be made to sustain
the demand until harvest; and OF this accurate
estimate be made According the calculations of
Count Daru the of France will be A days sup
ply which, 25f per hecloiue equal 10 500 OF
probably One-la has received there
fore supposed $25 900 wiz require to be exported
The announcement in the Kings speech that the public
works would be continued supported the markets The
public funds of both France and England had fallen con-
sderaby In England, the awful condition of Ireland
nes increase the CONSERVATION OF the blood bosercd
arstocrats who have long misgoverned her. Horrible,
indeed, be the state of affairs that compelled the
Queen person abandon the laws, and the
ancient navigation laws in their application the
trade. Not only did she advise the Total repeal of the
duty corn but also that prohibition of the sugar
and moases in deres, which has hitherto induced the
consumption annually OF 900 bushels of barley for
that purpose The application OF the latter to the food OF
the Irish will be great aid but when starvation is pro-
ducing results in daily deaths, few weeks only may
aepyil9te ehoc counties
The quantities of food entered for consumption in the
United Kingdom for the II months ending December g.
as follows
s s all sorts s as s sss s ssssss
Notwithstanding this large import of -four, the mills
throughout England have had more work than they could do
1t remarkable fact and which puzzles the Paris
" Des Debas' that while this great demand for food at
high prices exists both England and France the
from consnnabe goods should, contrary to all former
experience such junctures, be greater than The
revenues of both England and France from and
cise for the last Two years are as follows:
lS45. 1876. lS45. 1886
t.i Brsn 81 2si7iSs
The increase in England, the year, is &549, 1871
about So 6J0OO0 and, in France the increase is 1885,.
437in both modified rates Of duty; and the in
place the last quarters of the year As thus in
England there decrease in the CUSTOMS for the Oco
Der quarter, f500 000 and for the January quarter
crease fl59000; and tho increase both in France and
England borne equally by all necessary articles nothing
can more clearly demonstrate the fact OF increased comforts
enjoyed by the people
The cotton market, the 10th January, I'd higher
than on the first of January but the Goth dull
these The high prices current both in France and
England had inclined spnncrs TO pause in their purchases
the hope that the crop might still prove larger than had
been supposed and this far number Of bales goes,
likely oprove the The receipts OF cotton in
the United States as follows
Decrease
N Orleans and Mobile bales. 577206