The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-12-23
United States coinage.

United States coinage.
F, ; 1885 ss 50 81 90 e e e
1920 to sa'lsla7a seO,lacoaaIoo sIass Ms %
Net imports as above lo36anal2 90
Excess coinage s2I,e5Oloi 40
Supplied from old jeweiry, recon-
Export United States COIN 1920 to 1873 ac8s65l 90
Net excess of coinage $500 $50 40
The quantity of the precious metals brought into the Uni
led States by immigrants it impossible ascertain,
cept by approximation In the year lS7, 1923 600
specie imported and nearly all coined and the above
show that there is uniformly coined than
rve Yet the export from New York alone for the year
ending with November last, l2o0 0O0 nearly
all foreign COINS which could have been supplied only
from immigrants If estimate that million per an
received in this way there results 1927 0O0 900
1920 and the supply will then stand as follows:
On hand, per Galatin, 1920 $50 900 900
Products Of u 5. mines I2,74l,6i7
Net import so, $50 46I
immigrant supplies 27,000,0o0
Quantity in the United States I5I,s25 los
1t may be inferred that supply approaching this
sum, derived from the California Mines will produce some
disturbance in the exchanges 1t will operate suddenly
the Mexican mines did gradually upon values in Europe
The first effect will be speculation and rise in prices and
goods flow here to obtain the cheap gold This will be
what is called uniayoabe exchanges and this will con-
nue until the gold fnds its level throughout the CONNER.
caI world, even the remotest corners of Asa-the
The industrial wealth Of the whole world will come here
put in motion by the god attraction 1t then result
that gold being produced much cheaper in California than
elsewhere all other gold mines except perhaps those of Rus
STA, which produce $4,000 600 per annum will
worked, and the supply by much diminished and the
boarding in Europe and Asia facilitated, further to absorb
the supply Before the discovery OF the American mines
the value Of fine gold to fine silver 10 that is 10
say, OF fine gold worth ten OF silver As
the silver flowed from America faster tn an gold its price
fell, until in 1850 it was ! to 4-and finally the
establishment OF mint in 1892 fifteen ounces of sill
found worth of gold. This continued until,
in 1884, it found that the value god com pared with
silver had further advanced, and by the gold bill of that
year, 1t taken be 2l5 silver OF gold. This
vauing the gold high, and the 1887 reduced
it 10 9SS L. It is evident that joint operation
Of the California and Russian mines may be sink the
value of gold, compared silver where before
the discovery of Americasay ten and to sink the
value OF both metals in the general markets.
Whatever may be the ultimate result of the gold opera.
TONS 1t is certain that, coming at favorable iuncture,
when the operation of other causes money was be-
coming abundant and general trade prosperous il will
give the spur to enterprise which may specua
ton. The foreign accounts also favorable,
ing advanced I'd per pound the latest dates, and the
clouds in the political horizon somewhat 'Hed Bust
would but for the California movement be as duh
usual for HOLIDAY week. We have activity however
in the way OF railroads The Massachusetts 'Worceser
and Nashua road VIII open week and in January
the Harlem will open Dover plains 81 mile. from New
York and the New Haven and New York road will also
be in working order, On the 9th the Erie railroad will
open to Bnghampon, distance OF 200 miles, making the
longest and cheap road in the Union From that point
it viii command most Of the travel from Blu ia 10
Seneca lake. The road is clear of its difficult
ties All these will tend promote the spring business in
New York.