The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-06-24

Sin ,oG5.Hs3

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Total last three loans, SuSix,J s,o. o,s -,
's."a eos'a 's n9'v ssaufyias. In every poin, OF
view h.n are thrss sse was some snspxion from the
arg" anoS". If money bad beyond what was wanted ,ha
my Of the bids genuire hence, the Secretary
~au~d per ceat d~pcss. tae brokers say 'oae
APP, TO accompany each bad Under these conditions the
amount offered ~ still nearly doable the wanted
Yesterday were also opened bas ios a New York State
loan OF e~0eV. pay off much per cea stock falling
due July The stock bearse per interest," and IL
redeemsbs In isSs The wboaS amount BAD was 81
'HU-taugsns irom par 20 ein3S So The loves bid en-
er'anea ~ss St07 no. and above which rate the loan
was distributed The average price Is something les. than
the national stock which has, howsvet fourteen year. lon
ger to and has tho advantage Of coupons while the
New York stock has the advantage OF demand os bank
ing purposes.
IL will be remembered tai the hast United States loan
was taken almost on the very day axsd by Abbott Law.
renee ESQ., In his letter Of January, Is5, 70 W c. Rves
ESQ., as that on which the treasury would be empty the
merchants insovcnt III. capitalists alarmed and the GOV.
eminent credit destroyed in OF the operations
Of the low tariff
"wheIs amid The general ruin. te realistically asted)
VIII be the credit OF this Where the
and the sccretay and the Psssiden and his sabine,
Of income os s.s and preparing 10 .E e ss
Tor large oah OF treasury notes or, perhaps. the deficit
point Of depression In The srea, bushes. Of The
country, which has attracted the and anxiety of
great capitalists and who are rsapins golden
havests by the purchase OF property phieh the Daxs Of the
UJOTtHn0te AT0W INTO tHt nr0fkH ar rates.
What dreadful doings result from the great bug
bear Now, in addition low tariff have had
warehouse, independent treasury, andwhat was by
means anticipated by Mr. Lawrence-a foreign war Of
two years duration yet the country
ed prosperity Notwithstanding that, during the as six or
EIGHT months, commercial evulsion in England. and pot
revolution throughout Europe have subjected
pers of produce TO Immense Losses and deranged
changes that bills We're not available. So far from capital
lists making immense sums OF money by buying property
Thrown
property higher than at the of prosperity
when he was writing. II the OF food In Eu
rope last year in degree accelerated the export
OF breadstufs, the revolutions and revusons of this
year have Disappointed payments, cur,aled markets.
and subjected to the financial operation Of dis
ressed houses abroad STILL the general of pros
pery is unchecked. All this is matter OF congatulaton
part of the loan haa been is under taken on
account of certain London houses but larger may be
commanded there hypothccaon of the stock. Money
in London being worth 81 per cent, and bills here CON-
handing lOA II, it becomes fair operation TO lend
per cent this stock and the drawing OF perhaps
u OOOO 900 only month from tho oshor sdc
ments called in, must affect the exchange market
ivorably to check the eiux of the precious metals
which OF late has been the only drawback
enterprise. Confidence in bills is, however, slowly return
ing, and francs are beginning to command confidence
The rates are nearly as follows:
S Ssiilns @a5 I'D A AnsTs,p sss .s
Amsterdam --aH Bremen so
The steamer Hermann yesterday took $500 900 and the
French packet Zurich $lSSOOO the Acadia tomorrow
will take $l500O0 The demand Cor foreign coins Ia
less than it and prices lower rather dull former
rates.
this of the year, the bills being usually ex.
hansted, and payments commencing OF fall i'm
portations, rule high This year, however, owing TO
the dscredt whchhas prevailed specie gone forward
the exclusion, in degree of bills remittance and also
in payment OF goods purchased chiefly the
the fall trade. The effect OF this make available an
enhanced amount of bills as confidence in them revives
Tho leading bill houses have for many months sold their
signatures at top ratsssay ii III and they still ask the
former rate. has Of been their interest
tinue state of affairs by which they profit largely
Fortunately, other becoming available and
the prices are dropping The bills of Corcoran Riggs
on Barring, Brothers, against the loan for instance
are offering at o. Bank of Virginia bills, with city
dorsemen sell l0l and New Orleans good bills
had at a8, with sight checks New York at discount
Money is, then, at IL per month, and will be
leved by the sale of sterling bills. In fact in all directions
the strain the country to be relieved by the
forwarding Of produce which continues forward
in fair quantities and at good prices. compared with
years prior 1877. five compare the quantities of farm
produce delivered from the Erie canal the end of the
first week in June with prices that day, shall find
the value of farm produce delivered this year actually su-
peror to that Of 1876.