The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-01-14

If from the depostes OF S45 those OF the
deducted will show increase OF private depostes OF
some Sc present year The specie
been about the all the points, except Baltimore
the nearly the last AT all these
points, the dmnuton in loans since the returns has been
great and the community called upon pay
time when became difficult get money from England
the pressure necessarily
The exports specie considerable. They were
above 81 1867 from this port for December, and
1862 Bostongnaking 81, 45I 85S The Hibemia
hence the LIST, took which, with what by
other conveyances, amounted to 744OOO last week The
shipments have been mostly sovereigns which have
very "a 49, and choice bills have advanced
Ill. Nothing better illustrate the admirable work
ing of the independent treasury relation the exchanges
than the following from rabid WING newspaper:
The difficulty getting British sovereigns SUCH that
bills bought In preference is better to send bills al
TIA than send American gold
Under operation of the treasury law specie has been
received the several repositories to the of
$50 900 in the year Much the larger portion of this
has been soveregns imported from England and the
of 1874 001 600 coined into American god In Mex
specie abound and the treasury notes and drafts of
the government eagerly sought after exchange for H.
Under the 10Th section OF the treasury law when those
means are furnished him (he dsbursng ocer drafts he
those drafts to be presented at the place OF pay
men and properly paid according the law and shall
make his payment the moneys received for the drafts
furnished unless in either ne exchange the means
in his hands for gold and siper at par"
The dsbursng officer in Mexico receives "those means
in drafts New Orleans New York. and promptly
changes them the specie The person who buys
them for specie wishes send money TO England he pre-
sents the drafts in New York, and is paid in American
gold through the vigilance of the department in coming
the gold This American gold is profitable sp
AS se difficulty getting British sovereigns such, bills
are bought preference " and he gives the American gold
to shipper produce for his bill at Ill., according
the above paper rather than send that gold England
The par Of exchange is 81 bu American gold is
legal tender England the expense and delay of coming
better give per cent more for bill than
send there This raises the price of bills to shippers of
produce per The amount OF produce sent to Great
Britain last year was round numbers 1913 900 per
cent on this very 900 put into the pockets OF
shippers of produce by this operation of the department
the department drawn specie from the banks last
year. and coined the $4 600 900 of specie which arrived
wear would remained in the shape OF sovcreigns
to considerable extent in the banks and now gone of
rapidly England the great jeopardy OF the banks
Thus independent treasury under its admirable
agenent instead of nurng has been the salvation Of the
banks
The money market continues considerably disturbed by
the operations of banks of this Sate-the
mens which, during the past year, rapidly cxpnn
sve and reogradng under the pressure. Those
concerns pledge New York stock with the State Comptroller
for circulation and their purchases for the past year
follows:
Nr'g York stock held by comptroller.
Total
per per cts per cts. per cts per cts
Now 1896 $2a7
sa7 $4,000 1855 665 Sol, 009