The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-01-08

a for the improbable event OF the case OF the reu-
sal q the holders OF treasury bonds which now be-
Time BE- recolected that The 18th July in opening the
general debate the budget he positively declared iha,
ns would not await the end OF The year before be used he
liberty accorded 70 him by the law OF the 18th May
was very distinctly announced by the Secretary OF the
Treasury that these funds his dependence to keep
me noanns debt within Just limits Then the several
laws authorizing appropriations should have warned the
speculao.s that this fund could remain no longer IN the
treasury and the rsnie is high and small amount
Of scrip ~ IN market, all Of which circumstances tended
10 superinduee this
Tho money market Of rather the cou,s,e of the money
market. showed itself i'll satisfied with this measure
for they regarded il somewhat tainted with unfair
They pretended that they IN II explanation
OF the considerable discounts which negotiated dur
ing the month OF Noyemberhe rise OF live francs since
the rst OF Novenberlhe unste adness OF the reafe since
last Thursday, and police measures taken against tue
co1lsse Of the Bourse They fresh from reading
The onerqas measures taken by the Austrian government
against the moneyed men OF Vienna The official Jour
nails oil Vienna ascHbed the Unprecedented fall of the
funds, and the rise OF the premium gold and silver TO
The maneuvres OF set of low Spectators, exchange in.
tguers and panic makers (Wsnkel6orse and Conrs M
'e Btstrsbe as well those who offer for sale, who
purchase Quantities OF copper silver coin The koier
Asstung states the minor brokers hunted down by the
police and its agents, and that all transactions the
Bourse were watched by policemen in private clothes
l. was stated that Baron Welden the military governor
OF VIENNA had sent Tor the principal brokers OF Vienna
aud scoded them tor allowing the funds to come 10 such
pass. No reliance could consequently be placed upon
the quotations OF the Cours Of the Vienna Borse, il
peciay those OF the devses and securities that trans
actions have lately taken place in silver, and that the
purchases Of gold were confined TO the most urgent
cessltes since both buyers and sellers afraid of
tracing the attention of the police The storm of dis
trust" says the Kolner Zcitung, expodes at moment
when the government, supported by Russia prepares to
make war upon Germany lDrgues spoken of, but
The present state OF things exactly the uence OF the
former minister's in'rgues. But these demonstrations
crowdlng one upon another and pouring in from all sides
are aohing IN The minister's eyes beyond the play
OF 'agtotage' and the stockholders Schmul and
Mansche likely to be tried by court-martia Luck
lily this state oil things cannot be laid possibly at the door
oil the democrats because they have nothing wherewith
TO seculae nor the exed revoutionss be accused
OF H. because hey exert now no influence on the Vienna
money market No; the ansgTessors are the we'll dis
posed bankers and the best disposed merchants and is
the weight OF public opinion which hurries them into
these Recommendations; ln our manufacturing suburbs
thousands OF aborers have been dismissed for the Italian
SIX merchants sell their goods only Tor silver coin,
while our silk manufacturers compelled 10 accept
paper money from their customers. The radesmen re-
iuse 10 sell Tor 30 uctuating the funds, that it
impossible 10 fix the price of anything. Mothers of
families provide stock of coffee and for the price
OF these commodities has risen from three to eight keu
zers in the pound, and further rise may be expected
foreign importations must be paid for in cash But all
these signs OF the times lost upon the minister and his
satellites; to them they are nothing but agotage'
The shops OF the money changers literally crowded
with CUSTOMERS, and the demand for silver increases
every day The exchange loses such immense sums in
funds and securities that the bankruptcy of some of the
largest houses may be expected every moment"
In quoting this letter. the reader must be ferewarned
that Is grossly exaggerated and that the koiner Zeung
Is very Jealous party newspaper but, after due allow
ance is made for exaggeratons and the prejudices of
party spirit enough remains to show that there ground
Tor serious apprehension Of the sequences of tho inter-
ference by the government with the Exchange tits said
the bankers there medltang demonstration against
the Minister OF Finance They intend TO shut up their
counting houses and to retire from change since they
likely to be tried by court martial if they offer sell
stock al very low price. large number of brokers
have been arrested while others are expelled from Vi
enna And the eoulisse here fear tha! the government
/ n aH lilo In Rrtrr.
IN Vienna Field Marshal Weldon interfered with the
brokers.
propos Of the taken by the police relative to the
closing OF what is generally known Ia petite Beu il
may be remarked that while, relative TO the morality of
he peHs B0vse no one pTetends TO come forward its
defender, al the time one dreams for moment
that II was because oil Its tainted morals that that branch
exchange was suppressed but that rigorous was
decided on because was the interest of certain moneyed
men here TO suppress IT. IL is not wonderful that the
i eve OF an adjudication OF ten millions OF rentes sop
should be thrown to those who be useful friends and
dangerous enemies. AT time the operations of the
eoussse were connected with those OF the pdrquet /;
that is, the operator who had bought sold funds the
cotlisse could adopt contrary method in the psgus and
effect easily his liquidation by sort Of hedging The
result OF this was, that when the large bankers wished
push the funds up, the eousse Obliged share the
upward tendency Tor II was obliged to hedge itself
purchase all the renes. But this system OF liquidation
produces such violent variations al the ginning and the
end OF every month that he oous1 adopted another and
less dangerous plan after the revolution Of February 1t
established two qadaons monthly, and, instead Of the
compensation which placed at the mercy OF the parquef
It Was decided that the quidatlons should be effected
upon the basis OF the quotations between the
and 18th and the 18th and 30th OF each month The
buyer had consequently need OF selling the seller
OF rspuchasng his renes, for If he awaited the last
B0urse he was hqudated, OF right by the gen.
era average. This measure averted the former forced
sales and purchases on the last day OF each month,
and the majority OF the operators escaped from the
influence OF the Intriguers who formerly took ad-
| vantage OF the dencn OF the eoulse to push the
rene up beyond all measure. II the old system OF
hedging, which prevailed before the revolution OF Febru-
ary had still obtained, the discounts made last
month, solely push the five per cents up
effect than they did, and would have prevented the five
per cents from falling to ninety francs forty cent they
did the Goth ulumo for the sellers would not have
garded the oos refuge against the discounts, and
they would not have conlnu ed in the eoisss the opera
tons Tor fall which they longer dared attempt IN the
pdrquef is generally believed that the closing OF the
petite Boure, which has largely reduced the operations
tons OF the rsns at the mercy OF the larger bankers, who
sustain their time transactions by cost purchases and
discounts
Contrary TO the an,cipaiions OF the money market the
rens fell only Coo at the opening OF the Bouse and II
had scarcely reached 90 SIS when II became hrmer and
began to rise, until IT actually 10c. above the
Saturdays quotations This upward tendency still con-
tnues What especially encourages the spectators for
the is the received opinion that the larger
make strenuous efforts that the i've per cents attain par
before the end OF this month, which IL not i'm
probable, in consequence OF the active rivalry oil
parties, bidders for the EMISSION las the sale OF
this two million OF rfnies may not be improperly
caled) Several companies have already opened sub
scptons and il is said that three banking houses
will bid without beforehand seeking AID by means OF sub
scbes in their Offices The specuat6rs, however, twice
within the last fifteen DAYS by respected