The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-11-13
Capital Loars &C., Interes, at Per cent
drawing pr ct. Tper ct ofc capital.
Merchants SI.f90, 900 S3sg9,l7i Sl37 9t5 10
American Ex... J1l,3l7

Capital. Ioarsi &C.,, Interest Per
s nsssss,' En-; s, .sss 900 sS
Both these banks pay 10 per but tho former has
$3o3 4O3 surplus. and the latter Si2i,o5S. The Bowerv
up-town institution, has been Just three years opera
ton, with capital OF 1856 $50 II has paid that time
six dividends OF per cent each-making $50 i62 a
per cent Of its pita and has surplus Ct 500, 20na-
king together per Of capital in three years
These profits show that the bank imitation has but
commenced and must extend itself in the coming year.
Massachusetts, New Jersey, o~io, and Illinois have
ban king laws like that OF New York Michigan has
banks the plan, but gene law for their es-
adjustment Efforts will be made ia Pvnnsyvana, Maine,
Mary land, and Virginia this winter 10 general laws
bank the stocks Of the respective States and
cases, these will be carried with little difficulty.
Tho fact that specie. producing and exporting
country should however be borne in mind, and
tends deprecate its value the creation paper
to compete with it in circuiaon will hasten it OF the
country and diminish the quantity of foreign products
which we may get In return for IT.
The Plough, Loom, and Anvil for November copies
Of my letters the text fo' its leader written by MIR,
Carey who proceeds remark upon IT, As, however, he
has yet been abs reply the following fraud he
pracsed in his articles in Tribune he cannot expect
the Union" to comply with his request copy his other
issaiemcnts.
The following in the Tribune,
Received at N. Orleans.
Crop Of sss 1900 GOO
Cicp OF tsresi reducnon
We beg our rsaders compare the quantity re
ceved at market by these great with that
ccved from the crop OF 1876 and satisfy themselves that
the ference exceed 10 per while the poua.
ton has grown Is or 20 per cent.-N y. Tribune.
The receipts Of produces New oheans have been as
follows according TO the true tabesi
Received al n Orleans.
sis. s79,779,l5l
1850 81 sss M
ioe,eaos5
The increase in the value received s25 0oi yet
the Tribune had the unblushng impudence only to
suppress the figures and aege reduction but to charge
upon your correspondent neglect in knowing this
nary reduction.
Mr.. Carey plead ignorance, since he the
figures, far as they suit him, In the Plough, Loom
aud Anvil" Mr. Carey, in former article, stated that In
consequence Of the declining value Of labor Ia this country
under the present tariff, immigration was css-saying
The Necessary consequence Of the diminished reward
for labor Is that immigration has become stationary and
must diminish rs the necesales OF life rice In price With
the increase Of mschins,making and dminuon Of pro-
duction From 1913 to s' grew steadily, commencing
with 5000 and ending with 2972 Every arrival brings
with adyce that passengers are comparatively scarce,
and considerably lower and thus power TO produce
commodities for export dminshes, there diminulon,
aud that necessarily OF the indnccmen to foreigners to
dGce.
ccssye arrival bring. Intelligence of the increased did
Guilty OF filling ships at low rates, and this difficulty must
continue to increase the price OF food shall ss with d.
=" the tariff Of 1851 seek, sink Pcore to the level
Of those Of Europe and IL destroys The 70 ~.
ropeans 10 seek shores, polling them TO remain
slaves when they would become freemen."
In reply to this merely gave he official table, showing
that the number Of arrivals three tmss as much now as
before.
"IVny have these people 1ed Because with this new
step the adoption OF the Manchester system Of political
economy, has become daily more and more difficult 70
supplies OF food and clothing and because the DIN
cuy OF obts ming subsistence has increased so rapidly that
the United Kingdom has lost since iss al ho increase Of
i've years OF what is called freetTsde me population must
hapf dimni'sd at least too n,onj and y has 20 dmin
ished because Bri, f,eetadc has brought with both
famine and pesiiience."
Can anything be ludicous than such seIEs'ulfca
ton He rst repeatedly denies that people Great
Britain nj ALL and when confronted with the proof, asks
Why these people fed T. and answer, IL himself by
sa wing famine and misery occasoned by eetrade
Ia England drove them forth and then Immediately after
states follows
" The ship Constitution, which sailed for Liverpool
yesterday, carried out 2sS passengers, the most of them
returning Immigrants, CHIEFLY ld,h who think they can
do better in the old country than here"
Famine drives them back again, suppose As how
ever they find higher here then all need OF
tariff has certainly disappeared. because the higher
wages" here always the grand argument for that
II is scarcely worth while however, follow so inco-
bcront wrtcr yet Is wonderful that the protecousts
never discover where their argument defeats itself
Thus without high tariff manufacture. cannot exist be-
of the high price OF labor in this country The
tries Of Europe have established manufactures by proc
ton and now labor cheap there and dear here that
protection il necessary here. What is the inference from
,hs7 Why that protection decreases the profits Of labor and
increases that of capital Again manufacture cannot
DO established hero. because capital has 10 pay labor 80
much wages than in Europe. Why, then, labor Is
well employed witho~t manufactures If labor y dear ~
free trade America, and cheap in protected Europe what
has made Il sol
The markets present new features but most prices
continue TO declinepa riculsy cotonunder the ioregn
advce where the i'm preston is rife that the crop mere
will be vety large Two failures have taken pince-one
paper aer in New York. and one wooen manufacturer
at the eastward In these cases, however ma cause
in matters with regular business
Flour il not acvc-sales State at So 10 So western,