The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-10-06
$3l3,665 GO $l,l5l,9l4 II
Total

Here was near Sl,2)O,OOo released upon the market
generally, without notice, while these sagacous papers
magnying the effect of S3O00)0, agreed Friday
be paid certain large holders of treasury The
Courier said that by this operation certain favortes
enabled to lend money borrowed of thee government,
oithoM ntersst at Is per cent Now, treas
notes at 81 cent premium, and II pay them
into the treasury par loss of per interest,"
which they are handed to the govern
ment, and 81 per premium making 81 per for
money with which to shave paper alleged at Is per
premium Now, suppose the holder had sold the not es
f,r money low l0l-and he most certainly
would have done So coad he have employed it, as the
Courier says l8 per cent. per annum-he would have
done better But precisely because these notes are
considered the best investment 81 premium at
which they yield less than per per annum, that
holders do like part with them during the moment
AIRY pressure, which all know arises from altogether
Independent of the operations of the department The
merchants New York sell annually at least 900 900
worth of goods viz foreign ported
O,OooO 900 domestic, to the country mostly credit OF
course. the country must send down least equal
amount of produce to be sold here abroad
payments. If the foreign demand is good, and prices
high, produce down such abundance as TO pay
all demands, and money sis plenty :; that there
dollar more OF actual money in the market but that the
credits arising from produce sales applied to the
payment of notes. and merchants being easy their de-
posites in bank Increase and they loaned upon the
paper of produce buyers This was the case last
This the sales u the country been more and the
credits growing ont OF produce sales less compared with
last year probably the difference is 900 against the
city The consequence is that wing
prompt pay money Is scarce, and they fow
moment when favorable aIvces in relation to produce
prompt many To-Day Also, and icco dealers want
money for the new and instead of the deposcs
chants accommodating from country payments these
wants, they are themselves borrowers demand foe
least $780, 0OJ, produced, makes money and
then told that it because there is SS0I0 in the
nds Of the government, instead of being in pot bank
No business regtrd such stuff any Other light than
that of political clap trap, and they stick tn; tongue in the
cheek" and say thing. The arrago of nonsense daily
uttered in the New FORK Herald upon this matter, and the
powers of the government in relation it, only
m ike the whole ridiculous Every rejecting merchant in
considering OF the year. when half the com
cia men England failed, and the European revolu
tons parayzed immense amount of American capital
without affecting the market apparently ALL recognises
in the healthy Of the Independent treasury under the
udcious Of the Secretary the sole salvation
of the banks this Ii has been the Hv wbee,
which preserved finances from fucu alton even
amid war; when all the of the financial world has been
overwhelmed in disaster.
Business generally has Stacked up somewhat since the
departure OF many of the southern southwestern deal
and tho Indictment weather which has prevailed has
checked outdoor transactions Cotton has been heavy
and prices abon cent. lower than the close of the
last week, and stand follows
Inferior. Ord. to good Mid to good fair Fully fair
ordinary. midilng. TO fair. TO ia fr
No No ana ass siss: sisH is:H