The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-10-31
,l07 6,6o2,69l

II new banks.............,.... 10000 1895 3s6o5
i3,4n,o7 S,so2,6al
Thus the old institutions alone called upon for the
balances aud therefore they alone compelled to cur
tail 10 meet the call. The new institutions were enabled
take considerable portion Of the paper rejected by the
cd and such operation apparently necessary to
enable the banks get into business, to make
their dividends. We now begin to understand how
financial war, set foot by the banks gives them
business the expense Of the old and OF the
camille community generally The pinch thus produced
spread the ncishbong cities under the struggles Of the
merchants to procure at price, the Of meeting
their engagements. The eastern cies-where the rail-
roads have for sonpng period absorbed all floating
means-wee accustomed TO put their ladies' into the New
York dish, When they only excluded, but tho
tables turned upon them, the pressure made them ssuea
The cause is apparently renoved the country bank
balances paid up exchange down. with prospect Of
going lowers New Orleans sterling sells at Oh d per
cent with cash drafts New York one hall discount,
which would establish rate OF D in New York, less
commissions; and gold is shipped loss when the
rate is low 0l The extraordinarily low state OF all the
and southern rivers will probably check shipments
Of produce but the supply of bills is sufficient for tho
moment, and the indications abroad that the vast
accumulation OF in the leading banks of France
and England will overflow and return upon Tue
amount the Bank OF France has declined and the
changes being all in favor Of England money Is there
becoming very abundant and IL Is supposed the specie
will reach seventeen millions pounds by Christmas This
tends improved prices in produce. Already several
oargoes OF breadsus have been ordered the continent
stated however that American flour does keep and
this rumor, which is doubtless Of those unprirciped
SANDERS OF the English dealers injured the market
thees the general elements OF cheap oney cheap food
and cheap materials at this moment point TO pros
porous year for American nieress-more particularly as
the the value of food Western Europe VIII prevent
competition with United States produce IN tho supply Of
! England.
The extraordinary drought that everywhere prevails in
the United States has for the moment most depressing IN
Guencc preventing tho transmission OF goods and pro-
| ducc m
roads, for Of water for locomotives Even me Ere
railroad, Of its western sections, has been mucn
troubled in this respect The markets genefay are no"
ever in good heart. Cotton, which bad been sustained
an inst the adverse foreign by the accounts Of earB
fou is to-day lsngod, and rates are nearly as io,
Low. The sock the city Is 1000 bales, and the demand
from better the India and export trade beng
good a., o,,,o roi, 30
good ord, good mid fair
Mobile and N oricans,.7a ss sNaah oA aioh None
Wool ia liuc better in demand, although the drought
cut. oil the demand for cecei sales oil looooo POUNDS
have been 30 40 cents, and prices are quite
a sale. oi country pulled % 80 cents wool dealer
Al the eastward failed Flour is dull under the inu
ence OF letters by tho steamer sales Michigan oo'
and Indiana at SO 81 - ~ southern, VI Ia - -
Rvs aour and corn meal So 37b Wheat active for
por sales of white Genesee, 81 cents red Ohio 81
cents. Oats 3b 80 cents Corn is in fair request t5tb
81 cents. western mixed. Rye, ~ 10 cents Whiskey,
"a cents Hemp, American undfcssed Sl25 Rice w 81
80 81. FORK Is IN ldIo supply, ah" "o''o'' -
sellers SIS H. mess; Si3 10, prime. Beef is quite dull
So new mess 81 50 IS ~, prms Lard herce,, y
cents. dull Tobacco, Kentucky quiet, Al a cents
Freigh,s fairs 1871 asked for -four but lots TO MI up
taken at IL I'D wheat In bulk, lid cotton,
Sterling bills fair supply ~ 81; southern, 10
I0i city; francs 5.l6l 5lSs
Money having become apparently abundant he SOCK
market is quite the ascendant. Erie railroad Pfn'
cpa speculative stock-stood nj ~ July ~ AZ y, august
rs and ia now again ut 81 The house Of Jacob Little Y
Co. which has been beatngn this stock for long time.
was supposed have made great de. oil money ~ the
August fall But 1t is doubt the csAe that many who
owed failed pay They have since continued to sell