The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-05-06

The state OF the crops supposed fair, and spring
sowing progressing avoraby; while the breadth of ground
planting with potatoes increased the having kept
well over winter, it hoped the disease is eradi
Gated The railway calls were progressing at the rate
of e 900 for Aprilabout half those of last year
In England itself, therefore, there many elements
of prosperity, viz, cheap food, cheap money, cheap
raw materials, and cheap labor The great drawback,
however, is markets All the accustomed channels for
the distribution of goods the continent in confusion,
and credit nearly destroyed The United States alone
offer outlet for any considerable quantities OF
goods, aud prices here by such
age Importation In Paris the progress OF depreciation is
rapid, and the bank bills had fallen per discount,
although the French funds had rallied from the extreme
depression 1t supposed that order being preserved
in England, confidence in English investments would
again revive, to attract capital from the continent
and stay the disposition seek American securities The
of order does not however, the
evils which arise from expenditure and deficit grow
ing of exhaustion Of the taxing When Sir Robert
Peel proposed the income he did because he
serted, limits of indirect taxation had been reached.
The three per income he levied has, added all
other taxes been found deficient and the increase Of that
per cent asked for by the present minister has
been refused With deficit in the treasury and
thus choked great popular demonstration demands extern
sion of suffrage The reputation of the debt is supposed
10 Turk under that demand which cannot be denied,
particularly when property holders have discovered
that if the interest is continued be paid be by
levied upon them directly This division OF
interests between property holders and ler which
of permanent preservation OF English credit That of
United States beyond contingency Clouds have passed
it, only make its unshaed brlliance the greater
The people of Illinois, by of Al OH against 536a
majority of TO- 43ladoped the clause Of the constitu
ton taxing themselves mills per for the discharge
debt the legality of which they had previously and with
Justice called in question There be basis for
public credit than that and it is such people that
the federal Unon the only nation the face of the earth
that discharged full all its debts principal and
esand that the of $4S3 800 49S from the fona-
of the down the close of 187 That these
circumstances will cause large amounts of capital seek
The great republic there is doubt but this process
beneficial for the interests of the country the purchase
of produce: capital may seek investment in stocks and
estate but in the time produce accumulates in
plus stocks at falling prices injurious to the interests of the
producer and destructive of trade Already coantry is
feeling THE adverse influence OF diminished exports the
of the precious metals that seek the seaboard
supply the export demand Last year. this time the
export of produce had been active full prices while
purchase of goods had been paratvey SMALL and
changes in favor Of the interior The specie that
rived therefor went into general circulation. This year
the exports small low prices, and the purchases of
goods in the cities by the country merchants have been and
continue be active. The number OF dealers here large
and while they purchase fairly. they pay up reasonably
well The result is that the sales of produce here
extensive enough supply the demand for bills and
change is much in favor of New York from all quarters
compared with this day last The exchanges lead
ing points follows