The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-11-04
COMMERCIAL.



New YORK, November g. Wednesday, 4, p. m.
The steamboat Caledonia has looked for with grea
anxiety for some days. nasmuch has been suppose
she would bring news in degree determnave of the
course oil business Tor the coming and the hope has
been INDUCED that affairs would have changed
store confidence in bills in which case the prices would
rule much below the specie point and stop the movement
of specie The state of exchanges is actually in ia
of the United Sates but specie goes forward through
distrust OF the Bills The consequence of this will be
large RETURN ultimately, in specie to this country Ex-
changes are now not such movement OF
specie, being for the packet of November compared
with that for April here and New Orleans follows
April N sS Orleans sss %. Avrl H.~ s'rs Nov,
g. s New York aid. | maonNo pr is1n PER- pm
Mexican dollars, }ah LAMP.
Bills in New Orleans but little higher than at the
of large imports of specie spring. and far be-
low the rate at which specie be shipped and the differ
between the rates in New York and New Ore is
much greater than regular market would warrant Last
spring the price ofsering New York per cent? and
sight bills on New York cent discount which. without
brokerage and commission gives 395 the New Or
leans; the actual being $780, allowing AS for brokerage
The present price in New York o. and the of sight
checks at New Orleans New York IL discount which
would establish l0S 10 the rate in New Oeans-or,
than per above the actual rate, instead of
per cent? last spring. This shows the disorder of the
bill market 1t is also the case, that while good bills
be had in New York at per cent, Mexican dollars
shipped at Ii premium, which be loss of per
1t has also been the that Canada and West In
dies day bills have been offering in this Market (sup
posed for the purpose of remng the proceeds in specie
with them by which operation 90 days Of the specie
would he had in London, in which time turn in affairs,
it hoped, would take place This nearly the same
operation the United States Bank pied 1885, and
which was the immediate of its failure 1t drew
largely against its credits and selling the bills in this
market, carried off the specie partly to break the New
York banks, afterwards avowed by Mr.. Cow
perthwaite, and partly to obtain the command of the
funds The warness of buyers only prevents this being
carried to greater These artificial movements of
exchange effective only for the but the prox
unity OF England permits such financial expedi.
ents The exchanges be long controlled by any
parties. The volume OF nations trade Is too mighty for
the feeble efforts of individuals The only way in which
England specie from this country would be
hold fast specie currency herself and procure the
ration of national bank paper system here. As long
the independent treasury stands, currency is SAFE
The exports of specie for the month"; under the crcun
here Indicated have been 1914 548 in addition to
$250OO0 sent Boston for the of the LIST, and
$llS575 shipped in the New York packets of the ls
ly TO Have-making together $l,043,l23. The exports
from Boston for October $90 O0 and $50 by the
steamer, in addition to the received from New York
for that conveyance The largest proportion of the ship
mens from this port has been Of silver to France-viz;
47l32 in vefranc pieces, SPOT $50 in Mexican dollars
and 900 in American coin. Is 600 Spanish dollars
Sumatra and 1888 992 in soveregns to England
This in specie, under the circumstances has
been nnimportan and has affected the operation of
the New York banks, the of which made up
the LIST inst according law appears from these
turns that the specie hand stands at 600 against
$40 1872 the lst Of Augusta decline OF $2777732
This fall quarter is usually that in which decline takes
place; and last year the amount, which was in August
81 73s 1856, fell 81 ,3l4, lob in November The amount
hand is $678 900 than then. This is very
satisfactory result when remember that the operations
cusomhouse have been immense, and that, far
from receiving supply from abroad there has been an ex
port The following is monthly statement of the specie
paid into the house. the export from this port and
the import Also the on hand and subject to draft
with the assistant treasurer here:
In HAND or ss,T REAs