The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-01-23

The decrease in the French coin has been ayment
of corn in other and eastern countries of Europe In Eng
land has arisen from the specie clause OF the bill to
ploy the destitute in Ireland The number in the employ
of the government receiving wages, October 3, was
26, 1913, and gradually increased to N3023, November Is
involving disbursement for wages to the amount OF
600 per month, the commencement of winter of most
unprecedented hadships and omnous feature the
descrtion of agricultural cmpoyments for work Mt the pub
lie expense The continued fall OF the exchanges pointed
a speedy export of specie TO the continent. Large
quantities of silver already shipped by the cor
respondents of Paris houses. The Antwerp banks
had raised their OF discount to per cent and in
Holland and Belgium money was also very scarce The
state of the exchanges with the United States will effect the
first export of gold from England and the expected steam
err it stated, will bring important amount, The de-
specie under the independent treasury law will
have effect accelcratng the import because it adds
value the precious metals, and therefore imparis new
impulse their imports Money is here already consider
ably easy by Of the effect of the passage of
the treasury bill and the loan OF 1856, which had
declined under the prospect OF issue has advanced
IA per cent during the week. The new treasury notes
Gnobe in a twenty years per cent stock and available
as money for custom house purposes will have the effect
rather of currency Than of borrowing The operation OF the
specie clause the independent treasury is however, essen
a to the maintenance ofsuch amount at par. Formerly
when any kind OF funds receivable for dues rcasu
nv notes were paid the only when they
such discount would afford saving the importer to
purchase that purpose. They readily Ia
par from the banks because they are or government
purposes equivalent to specie, which bank paper is
a demand at the rate of S2O0000 per month is thus
kept up and it viii 20 sustain their voue There are
considerable of money deposi'e with banks des-
tined by importing houses for the payment OF duties The
probability that these deposes instead OF being suffered
lie idle will be invested in the and will thus be
drawing interest up to the moment when they are paid in
for duties The issue Of treasury is unfortunate in
respect that in degree that salus
nv demand specie which ought to exist this
when the moneys which have long reposed in the for
eign banks becoming active. The government de-
mand for specie, backed by mint at the port Of New
York. Indispensable to give practical effect to the gold
bills of 1s34-s7. Those bills in theory and
have, considerable extent been imperative for
of the machinery to give them practical effect The
object sought to be obtained by them, viz to increase the
specie basis of the country requires to be aided by he
operation of the treasury assisted by mint at the port
al,' where they admitted into the country IL Is he eN
perience of the English currency movement unaer e new
law that, contrary bankers theories inc paper ana
specie circulation Of the country increase ana DIMINISH 10
gether That is to saythe larger the amount OF specie
in general circulation, the greater VIII be ths sum