Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1849-10-18
Manufacturing. Railroads. Miscellaneous.


OF capital chartered With sec,l privileges in thirteen years
say milu> PER annum exclusive Of baking aud rei-
have been collected in Massachusetts and applied
these purposes alone without creating demand for capital
that would sensby influence the market. II will be
served tina; than half has been called for in the last
FIVE years when the federal government, well the city
Of Boston, has been large borrower Nothing ike this
demand for capital has taken place in other sections and the
consequence comparative scarcity Of floating capital
Boston, 1t will be served as indicative # The influence of
general prosperity upon that in the first year
Of the operation Of the ar Of 1872 only 900 capital
granted FOR manufacturing purposes In the first year
ofhst Of 1885, which have been destructive is
Interests Sl5S79O00 granted; that is say in
three first Of the tariff of ls42 SI $4,000 APP
piled 10 manufacturing purposes In the three FIRST years of
that Of 1916. S4l99O 600 applied. What tariff has
had the creates influence !" promoting manufactured The
profits Of all corporations have much improved the
few weeks raoad dividends have very generally increased
Those Of the Erie instance $50 900 or Sep
ember against $4,000 in July The subidng of The
cholera has had great influence upon these works. The
factory dividends also good and the banks OF New York
Ia maintained theirs whilst those of Boston
Thus $40 $50 900 Of capital in Boston for the six
months Of this paid 81 cent and for The second
months 3s4 rer The s24 i57 $50 Of New York
capital paid in the first six months ID and OF the
ms GAO that has made second dividends per cent
has been declared These latter the largest bank cap
tails and they make less than the aggregate profits
per The rate they have declared is however nearly
the that Of the Boston bauks although in Massachu
sets the legal rate Of interest is cent against
cent in New York An average Of over cent.
is very large rate for capital in the hands of
producers to il is much larger than it will yield
individual who applies il directly aud personally TO product
i've purposes. Capital loaned yield such prhts only
when the labor Of many persons is sacrificed for the emou
Of its This accumuave faculty of capital
is manifest in its increase
The owner If by reinvesiing the dividends
rapidly draws into his possession through the OF
interest actual wealth than he could produce by his
industry, matter how skilIfuy might be
applied Every thrifty individual rema ks, he improves in
substance the immense facility Of Increase when interest is
in his favo pared with lat il when interest
against him. Without dsputng the tight Of every
dvidua do the bet he with bs property, may
be questionable how far capital SHOULD be tolerated in this
aggressive quality with Tefe to the mmunites Of labor
The large and unusual pIoh being earned by chartered
capital evidence however Of the prosperity OF the pro-
due Of the county under the financial aud
mecial policy which opeI for
years he dd ralOren principle Of the taf is OF all 9TH
the most udc and productive Of the most favorable
results both upn he business Of the country and the
Of the government. The exports OF the United States
almost altogether produce aud the quantities that
forward depend upon the demand abroad The mpoaions
in the United States The other hand confined mostly
of produce sold II England, having short
harvest buys unusual quantity Of food BY much
the importation Of English goods in payment Of the
fod. Ii is lily the that when she food, prices
goods fall and the United States gets
cloth FOR his produce in the double ratn Of the Use
fuod and fall in fabrics. Thu certain quality Of cloth
is worth IO per piece s5 and through
failure in the crop The latter Uses to 35s snd he former
sinks Is then the United States will double The guam
lily OF cloth for the quantity OF four The
Of the government will be geaer, and yet the
per piece Thus q pieces at los are equal 10
barrel of -four 25s Five pieces Is equal to bar
rel Of -four at 35 Al 80 per cent duty the government
in the latter would be los against Is in the
fomer and the has the beneh OF the fall in
On the other hand if the price abroad advances less will
be imported; because in that be chespy
furnished at home The ad UalOrem Duty operating upon
the higher nvoice value gives The government It's usual
under essened importation; whereas in the
Of specific dulies when the quality imported is diminished
by high prices oad its revenue
and borrowing In the present The invoice
values and both lage the latter
probably than would be the il the duties
specific. The Of duties collected is evidence that
the system does not easily admit Of fraud evasion; al
though the wIetched condition Of the customs through
the hot haste with which experienced officers dis
chaged and ignorant and incapable substituted dsas
tIOus TO the public interest.