The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-10-05
Charters authorized in Massachusetts.
Manufacturing. Railroads. Miscellaneous.

iissesaa' i,2Dooo 100000 6l,00o 1891 ,5Ot
e: ss ss :ss:s: .ss &c!
e: :: $3.50: Is s 1855 ;s:
Toll 40, sasaaoOo 90 ssos7oo i2a Iso so
This immense of $ls6 800 represents the amount
capital chartered with special privileges in thirteen years
say ten millions per annum. exclusive OF banking and rel
gous and charitable charters So considerable could
not nave been collected in Massachusetts, and applied
purposes alone without creating demand for capital
that would sensibly influence the market II will be OBJ.
served that than half has been called for in the last
nve years. when the federal government well the city
Of Boston, has been large borrower. Nothing like this
demand for capital has taken place in other sections and
the consequence is comparative scarcity of floating cap
al in Boston. VI will be observed as indicative of the
influence Of general prosperity upon manufactures, that
in the first year OF the operation of the tariff of 1872
only 100000 capital was granted for manufacturing pur-
In the first year of that of 1885, which was to have
been SO destructive to Its interests SIS 900 granted
that Is to say in the three first years of the tariff of 1872
900 was applied to manufacturing purposes In the
three first years of that of 1886 900 applied
Which tariff has had the greatest influence in promoting
manufactures The profits of all corporations have
improved in the last few weeks; railroad dividends have
generally increased Those the Erie an instance
are near $4,000 for September against 1858 900 in
July The subsiding of the cholera has had great infu
ence upon these works The factory dividends also
good and the banks of New York have maintained theirs
whilst those Of Boston increased Thus the $40
OF capital in Boston for the first six months of this year paid
81 per cent and for the second six months per cent
The $50 of New York capital paid in the first six
months LA per and of the 8ll 775 O4O that has
made second dividends 3ss per has been declared
These latter the largest bank capitals and they make
less than the average aggregate profits per cent The
rate they have declared is however, nearly the
that Of the Boston banks, although in Massachusetts
the legal of interest per cent? against per
New York An average Of per per annum is
very large for capital In the hands of producers
earn. 1t is much larger than it will yield indvld
andna
purposes Capital loaned yield such profits only when
the labor of many is sacrificed for the emoument
OF its possessor This accumuatye faculty of capital is
manifest In its increase. The owner of amount by
investing the dividends rapidly draws into his possession
through the operation Of interest," actual wealth than
he could produce by his industry, how skill
fully il might be applied Every thrifty individual
remarks he improves in substance, the immense facility
Of when in his favor compa red with
what il when interest against him. Without dis
putting the right of every individual do the best he
with his own properly. may be questionable how far cap
ta should be tolerated In this aggressive quality with
reference the inmunes OF labor The large and
profits being earned by chartered capital evidence
however Of the prosperity Of the productive powers OF the
country under the financial and commercial policy which
has been in operation for the last three years The ad paorem
principle Of the tariff OF all others the judicous and
productive of the favorable results both upon the bust
OF the country and the Of the government
The exports of the United States almost altogether
produces and the quantities that 70 forward depend upon
the demand abroad The impoatons In the United States
are the other hand. confined mostly to the
produce sold. IL England, having short harvest, buys
unusual quantity Of food, by much must the importation
Of English goods increase in payment OF the food Is
usually the that when she wants food prices Of her
goods fall, and the United States gets
cloth for his produce in the double ratio Of the rise in food
and fall in fabrics. Thus IL a certain quality of cloth 10
worth IOs per piece when -four worth 25, and through
failure In the crop the latter rises 35s and the former
sinks Is, then the United States will get double the
quantity OF cloth for the quantity Of -four The
per piece Thus q pieces los are equal
barrel Of -four at 2s. Five peces Is equal
barrel of -four at 85s At 80 per day the government
in the latter would be los against 7s in the
former and the consumer has the benefit Of the fall in price
On the other hand, If the price abroad advances less will
be imported because, In that case, be cheapy
furnished at home The ad paiorsm duty operating upon
the higher invoice value gives the government It's usual
under aessened importation whereas In the
of specific duties when the quantity imported diminished
by high prices abroad the government loses its
and borrowing In the present the invoice
values and revenues are both large the latter
probably than would be the u the duties
specific The of duties collected Is evidence that
the system does easily admit Of fraud or evasion al
though wrecbed condition Of the customs now, through
the hot haste with which experienced officers were dis
charged and ignorant and incapable substituted,
disastrous to the public interests.
The produce markets have been well sustained, and
raw materials have continued to sell well at improved
rates The present consumption Of wool in the United
quence, the prices firm. Sales have reached
lbs at full The receipts cana, TO-
pounds against $50 pounds The from the
South in relation injury done the cotton CROP continue
to sustain the Market and the duness which succeeded
The departure Of the Hbea has been recovered, and the
market closes buoyant firm prices, quotations being
follows,
Ord. TO good Mid. to Mid fair to Fully fair TO
ordinary. good mid. fair good fair.
S Ssss am. .%s 4 s,' g. si.:iSs t.is' ,: -:
The -four market, under large receipts, has been dull,
and prices disposed give way Common State aud mixed
western, ~ s7i 50; straight State, IS IS 12l new
Michigan and Indiana, S5 Is IS sil Prices are in fair
demand, IS 87i for fredericksburg. Wheat is firm.
with fair demsnd-say Canada, in bond, l07l cents
white Genesee, 12l cents. Rye 5si 90 cent? Oats
lower; % 40 Corn under anticipated sd
vices per due, has risen cents; sales Of new
10000 bushels at 81 for inferior white southern
mixed western 81 90 cents; round yellow, 81 g. cents
Lead is duh prices sales "a Is. OIL nseed Is held
81, but many anSioas to realize. Pork dull steady
ra,es-say $40 12i mess; % 81 prime Beef is heavy
sales Sll 30 Sl2 So Ohio lard is dull and prices
falng-say fair prime, 81 Butter and cheese
in good supply, at fair Rice dull at So % % 30
whskey has become dull and cent lower; sales Is =