The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-03-17

market that would pay the EXPENSE The
market offered the whole surplus into requistion
The official tables show the exports have been
follows,
Exports Of the United States
Other Total
1885, sss , sssio5os s6a7as acs $50 77e
isse, is,sTi l9e25e 5t25s52o Ioaa Ia s SO
ISI7, s,32,62 1888 66l 63,2020H $50, 637 464
The year 1915 was of average export, and the in
that average for the years lSi647 S63 1885,
9J0being the increase Of the floating capital Of the coun
try through the operation OF the foreign MARKET in
making those agricultural products available which
otherwise would not have been available This in
of tho national capital has been to the extent
Of $40 SIS actual coined money passed into general cir
cuafon The increase Of the national debt to Deem
Der consequent upon the about $50 100000 IT,
In carrying the treaty, and closing up accounts, this
should be swollen S6O0000 900, il will still fall short Of
the capital acquired by the country in two years OF liberal
commercial legislation. 1t is little extraordinary that
eminent pamphIeeers among the foremost of whom is
MI Gaatin should have laid great stress the
OF floating capital for purposes rather il
resulted in the investment of $50 900 in 900
square miles OF land. rich III mineral and commercial
wealth, should have regarded slghtingy the increased
means of the country make that investment and
over, that while they clearly the effect Of the gov
eminent extraordinary expenditure in consuming cir.
cuatpg capital, they should be 50 blind to the effects
OF the bank paper system in causing the humiliation Of
circulating capital During the speculative mania OF
1852 SO, only did individuals consume the capital
OF the country credit, but great numbers ceased to
prod uce; aud exhaustion speedily ensned, under the
double operation of great consumpton and diminished
prod ucon The official in bankruptcy showed
debts the OF Si4O 3i,65 due TO O49,
COB persons, who could not be paid These figures were
aboul thirds OF the real amounts, inasmnch as many
took place without the aid of the courts Near
y 500 900 OF indebtedness had been contracted OF
pc ron and there existed property TO repre-
Indebtedness How must the circulating capital
country have shrunk under such state othngs Yet
the inevitable ascrbed the specie circu
..plr Nc hats si,na
speculation aud dapidaton Of capital, did not
place during he past year. was mainly owing to the
financial policy of the government which may be est
mated have saved by etading speculation as much OF
the circulating capital Of the country as expended In the
conques, Of Mexico
The process of imitation has, however, been gradually In
the last twelve mon,hs checked by tho action
the government and without the machinery that former
IN existed IL has progressed but slowly Credits multiply
apace and with their growth the pton Of goods, for
eign and domestic will DO such as TO tax the available
ca pal and lead areexpor of coin In Great Britain
no bank bills allowed circuste under 10. Hence
the small channels of circulation filled with gold, OF
which is supposed to be E3o00o0Oo; as this
the markets. is not available tor export Specie
can exported only when collected in reservoirs, like bank
vaults At the moment OF pressure last fall the project
was seriously entertained Of issuing Ct notes. in order that
these ght the place OF the god and, by driving into
bank vaults place within the reach of the exporters In
the United States all the banks In all the States issue
Hence when la OF general confidence, these
specie begins dow the sea.boatd and thence abroad
Something like this process Is going forward, and
money Is in consequences more easy than u was. The
goods people, whose moneyed operations impor
ant generally easy while the impof,aions Tor The hrs
ten days of the present month show falling Oh The du-
table goods 81 2n, against S3oi ioa last
year antc patod that tbs heavy imPortatons with
which the season mmeneed would no, be sustained.
Business generally Is ltle more active, and produce
arm, while the sales Of foreign and domestic dry
goods continue large rather lox prices The domestic
manu- features seem the market freely e0npet-
ton with imported goods Many domestic factories have
stopped butthey were almost always
OF a mushroom growth, which depend more on govern.
ment protection than the virtues Of economy.
The advance abroad has been attributed
in quarte the light receipts Al our orts,
pared with and hence the notion that a. oOsoa has
since forward freely 10 exceed the receipts Of last
year, may not be maintained The receipts 90 January
20 Ia 96 bales against s asa last yesrs decline Of
1873 bales. They la Iss bales sssins, $50.
243 last year-an increase OF s..s bales hodets are,
however, not anxious 10 The market ern at the ad
vance which leaves the quotations today a. iosiowst
ss cd %. e sea- sn l Mo .- ' ' sss1 e
SsisIs ana sSf si' o..a. ~. III a:l a:s
The exports iro the United states considerably exceed
those ofas, yeabeing from september date. va a.
against 5ei5is The export Of cotton goods rosn hi, port
March to TO- are ist packages against 81 packages last
year
The stock Of -four hand decreasing under steady De
mana iot hoc ihc~- nfr ssuft oehs
the close OF last week Sales - s1 iog Michigan and
pure Geneses Star. cell. ~ 81 ~ "a, Old
Ohio So so. sales New Orleans - Is Zoe common and
SO so for good brands Alsxandra and Petersburg 90 Is
ST ga supply moderate Rye flour 10 firm - ~,
81 Jersey corn meal duI al ~ al ~ ~
Ia grain, under demand from dis,less and the
eastward, sales have beoa large. very tad prices Good
TO prime mixed Ohio wheat ik its white Gcnescc
$50 is said that the stocks Of ~hes large
in the hands OF farmers opposed. and that the
do no, well srpec'ed The mid weather