The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-06-27
COMMERCIAL.
NV Yo.s. june as-4. p


Nxw YonK. June 2s-4. p
The abundance Of money continues marked feature
and without exciting any spirit Of speculation The i'm
ports continue fair scale and the cheapnes OF money
promotes prompt remtiances, supporting the exchanges
and inducing export Of soyeelgns and foreign coins The
amour, shipped IN all 5000 4S5 nom June 10 TO 2z
making ~ exported since the lstoi January This
has been apparent in the stock Of specie
now here, which has huctpaied as iollows "
Specie Ia Nsw York City
L Ii s:.. 5000 ssss ssss go
ilSn,a5a iO,7is,Ois n,sS,sOl is,Sss7s7 la,ss,oOo
The increase in the banks has been large, and from
June "a the California gold received at the mint reach
ed 81 1850 other bullion $50 000-naking 81
Of which 81 674 coo only coined The quantity OF the
precious metal has been received during the past
year. as well from California abroad has been larger
before and that il has produced reaction,
leading shipment Of the foreign coins which 10 at per
cent lower exchange than American coins not surprs-
ing The gold shipped has been follows To Liverpool
(sovefegns) S445 2s0; Rio (douboons.) $6i,625 10
Havre (ivefrancs) $40 dollars, 000 This
all brought here by immigrants and, had there been
convenience for prompt coinage, would have been in
in country, instead ogoing abroad
The stock of this year held Is $50 1913 bales
worth 576 against 232 Ill bales last yearworth
S6 $780, This is equal TO an Increase OF
specie and will yet supply considerable Of bills.
The advccs from England were OF DISPOSE
tion TO SELL tho impression that the accounts ema-
mating this side OF injury to the growing CROP were
intended support present prices until stocks shall be
great oamor is raised at present moment in rea-
low prices Of wrought fabrics compaled with
the raw MATERIAL and efforts being made attribute the
fact 10 the low tariff That prices goods prob
ably true but that this arises from domestic competition
almost entirely be shown from lew figures For
purpose have take the number OF yards import
ed from England different periods and tho number OF
bales taken by Uailed States ufacrers estima
ting the bale at lbs and the cloth three yards the
To- OF raw cotton. The result is as follows;
Bale. u..d in ,he o. So iassa sss s,H s isJs
I" South and West llovoo
nsSs, ys asa oss. BRITAIN Ss
Total supply Of yards 2Ossaass assao4so4 7ass4Ssoo
i,sss i; s..s $3.50 H'sSfss s0'ss IS
The number of bales here given the consumption Of
the South and West that given in the annual report OF
the cotton CROP AT glance il will be seen that the In
crease of supply per head which has doubled since lS0
Is derived entirely from United States production. The
exports of United cloths In lSi9 valued
at "a COL which, average Of cents yard,
would give 900 yards exported; which, added to
yards foreign goods xported make about
yards exported than that the e"fre
ption OF cotons the United States is derived
from home production These figures ndispuable,
and show conclusively the absurdy of the cry about
foreign competition under the present tariff The dmin-
ished margin which undoubtedly exists between cost OF
material and price of fabric has been brought about en-
tirey by home competition The Improvements in steam
machinery emancipating factories from water power,
aided by increased capital, have stimulated great In
crease in the machinery employed and this new ma
chnery at the South and West can produce on much
cheaper terms the old mills That the latter,
therefore, suffer under depresson 10 not surpsng but II
is surprising that such Nathan Appleton, writing to
the present head Of the Treasury Department. should be
III informed real work change the lace OF
the cotton market such language as the fol-
lowing
The present condition of the cotton manufacture and for
the last two years. Is that OF extreme depression and IS
Justly attributable. In great measnre to change ~ inc
tariff"
Mr. Appleton could surely be ignorant of the facts
embraced the above table, that the supply oil domestic
cottons has increased from twenty thrytwo yards per
head of the population and that depression OF price Is
the necessary result Indeed IL surprising that under
such supply prices have been well maintained That
surely would not have been the had not very great
degree of prosperity and OF increased power 70 purchase
resulted from operations Of the present tariff which by
aiding exports has made available the industry OF the Poo
pie atlarge.
The increase of man uacurng At the North has been
promoted by the abundance capital BY calculating the
exports Of the cotton crop weekly rates. the results Of the
export value September TO June 30 In three years,
are folowsi
Bales Value. per Bales. Value.
4 aIgs ox ash