The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-04-12

1850 i2,e6s'soo 5os.oH
This shows decline but one OF the banks-,he Mer
chants Exchangelaa year. the expiration OF its char
ter, declared final dividend Of per cent, and
menced business under the general law. The North
River Bank earned lis dividend of4 per but owing
to the conduct OF the late institution declared.
The comparison shows that, while the uniform high
rate Of money In Boston, where the rate OF money
10 per cent by law, enabled the lending banks TO
divide nearly per cent per among stockholders,
the uniform low rate Of money in New York has prevented
the institutions here from earning higher dividend al
though the legal limit Of interest per cent instead Of
per cent may be questioned whether the demand for
money in Boston Is another indication Of the
rapid growth Of thar CITY, under the eerade impulse Of
more numerous and cheap modes Of communication with
the interior All the business OF this country which Is main
y agricultural depends upon the amount Of real wealth
which may be produced aud exchanged Thus IT, by rail.
road communications, the OF country accessible 10
market equal Is doubled and double the number
of farms send forth their productions common
Bostonand, under liberal external commerce, those
increased supplies meet with adequate demand IL follows,
Of course, that the business Of the city doubled Both the
number Of customers and the quantity each purchases
be enhanced And this propensity reaches every ndi
vduai doing business increasing the demand for stores
and the profits Of business, which enable higher 10 be
Obtained Something like this result manifest Ia the
Of che assessed poperyo New York and Boston,
followsi
Asseed property Ia Nsr York and Boston.
Boston. New York Boston per cent.
1870, sstssieoo s2sa,oa5,sls $40
1si5, i35pfo,700 23e,e3s,sie $50
1870, ls4loe,so 2S,ig,l43 $751;
Thus the ratio Of properly in Boston to that Of New York
has doubled In In the period the exports Of
farm produce from Boston have increased 80 per cent IL
s obvious that multiply OF communication by
which agricultural resources opened facilitate
business bu, slightly, unless the general policy the gov
eminent Is such permit outlet for the surplus This
has been the in the last few yeas and tho result
rapid growth Of business constantly capt
tai for its conduct In New York the Erie railroad will this
year do for New York, In opening OF country
market, what the New Eng,nd system done Boston,
and look in the years for more rapid growth
Of New York But the tariff laws and tonnage laws
considerable notification The last mentioned are partic
ulary odious, while the former still too hish.
Ths general markets very acivs The opening
Of canal navigation will enhance supplies Of produce
and promote purchases OF goods In the meanwhile the
markets quiet The market Is unsettled but the
opinion DO in favor OF further advance OF at
least 2cents per b. based upon tho crop
spinnefs well supplied and when Lancashire comes
into the market she must pay The Quotations
lollowss
Ordinary Mid MID faIr Fully fair
10 good ord. good mid. 70 air 10 good fair.
Upland and Florida, NJ ala ~ al2l I9l Io1 IRA
Mobile and ~ Orleans ~ sit lsiaiat ia iSi lsia-
The demand for brcads,us not active except Tor bond
ed Canadian Sales straight State 81 81 "a 81; mixed
Michigan, IS 50 II good Ohio, IS Il IS 81 southern
firm at 80 IS 90 Rye flour, ~ 10. Corn meal, 81 So