The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-12-17

For the week ending the 3d. on hand had been
reduced by than 81 100000, and very low
The deposes and the bullion also reduced. 1t
then that the government inerposed The announce
othe fact, by improving confidence aided the bank
In the week. its bullion aud deposites increased
enabled loan FL 900 without much reducn;
hand In the ceeding week, further
of specie strengthened it, well eased the market
other quarters, and money could be had ont of door
per than from the bank, which continued charg,
per cent and its branches per cent 1ucnty.
there less demand upon it. Some English paper
also discounted in Amsterdam, and other cities of the
This slight relaxation, however, caused prices
produce rise, which had been kept down only by tn
sagnaton o. business and want OF money 1t results from,
all this the momentary of the market ouly
symptom OF the paralysis of trade. The low
price OF money trade, debts must be paid. The
amount OF bills running upon England must b.
met produce be purchased, materials IN
equison and the adverse state of the exchanges may
then with redoubled violence. AS far Amer
lean interest. concerned, the for til
moment encouraging but they failed to pro
duce that favorable influence upon the markets here
which had been hoped from less disastrous news thar
had previously reached A French house hac
failed and the branch here had been seller of franc.
TO extent, and also stopped on the news-a cir
cunsaucc calculated improve confidence, and
money has been tighter III the last week than perlap
before The banks do literally nothing, although they
pretend be very liberal and the daily press for
ysterous norves praises their generosity. The fact
this moment is, however, that almost any quantity Of TIN
paper OF the best firms in the city be had II to PEI
per month There have been instances where good
grocer paper has been offered collateral for Civ
en- for fourth the amount in money at the per
month have named. Paper of the best description be
ing hawked about at ruinous prices All this arises
ply from the fact that the banks lend but very small por
ton of their receipts. They liberal through the No
vember quarter when they ought have been and
great deal of the paper offering heavy discount
created in consequence Of the houghess conduct
those Institutions which close their tlls in panic
It doubt the that tue specie in the city banks ha
been reduced very low. The amount held by them
has been estimated by persons low 81, 900
and by others 0O0 against 900 in November
One institution, which reported 100000 in Novem
be is known have had less than $2O0,000 time
The hpmen;s specie nearly all foreign consas, o
instance, last week S2S5 $40 shpped of this 20i 3
in soveeigns to England $74ssO in five francs and Mexi
to France. If the banks provided with Ameri.
instead of those foreign pieces they would be far less
exposed the influence of of the exchanges such
now presents itself
Exchanges remain much confused At New Orleans they
quoted duh at per cent for sterling and here
La l0t, while continental bills, compared with serlin,
remittance London, very high For the packer
Of September lst the exchanges compared as follows:
September l.. December