The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-11-27
FINANCIAL AND COMMERCIAL.



NONE Y m II X EFT.
WEDNEspAv, Nov. 26-6P.M.
The stock market opened heavy this morning. There
was not much activity at the board or in the street
At the hrst board Erie Railroad advanced per cent.
Harlem, a. Reading Railroad declined v per cent.
Canton Company, u; Morris Canal, x; New Haven
Railroad a; Norwich and Worcester "a; Rochester ana
Syracuse, Al Erie Convertible a. At the second board
the market depressed, and closed with down
ward tendency. There is speculative feeling Of i'm.
porance abroad and outside operators enough
in all street
The receipts the office of the Assistant Treasurer Of
this port, to day. amounted to S72332 80; payusnts
Sle,5l7 5S-balance, S3,259s45 g.
The earnings Of the Vermont Central Railroad Com.
pany the month of October amounted to S64s79 g.
In September they S62lS6 81. Gain in October.
$2,743 SO.
The Superintendent Of the Banking Department -
this State has given notice that the bonds and mort.
cages forming portion of the securities Of the Bank Of
New Rochelle win be sold at auction at the Merchants,
Exchange, Albany, on the 18th Of December proxmo
These mortgages for amounts and on property as
follows $4,000 Dunkirk village property, So 600 d.,
$370O do $1,000 do, 1855 Brooklyn Ninth ward p,o.
perty, $3S63 do 1882 do, $3962 d. 594 do 1854
do $780, do 600 do, 1853 do, 1861 do s36sl de-
$4649 do 649 do total S64 9s3 The whole Of these
mortgages bear interest at the rate Of per cent
payable annually; and those the Brooklyn property
fall due the 18th of January, 1854. The Brooklyn
property consists of 255 lots and two cores ths
outskirts of the city.
The steady influx of gold from California and Au.trs.
liza, and the preparations making to add largely TO the
annual production, have turaed public attention sgau
to the pro effect of such the supply
OF precious metals in the world The addition Of one
hundred and fifty millions of dollars to the metallic
rency Of ali nations every tsm of considerable
mpcrtsnce-one calculated to ultimately bring about
great change in the relative value of propsry Any
pid increase in the supply Of capital whether metallic
paper invariably adds largely to the productive industry
Of the world and for long time the creation Of property
and its representative keep pace AL sorts of business
every species Of extravaganza follow eny sudden in
crease in the wealth of the people any
country and large amounts Of the precious are
worked into plate articles of jewelry, sc. This
time keeps down tie supply Of gold and silver and
prevents any sudden change in the value of the mss;
currency. 1t almost Impossible to form estimate
approaching correctness Of the amount Of gold aud sill
annually worked up either from bullion coin into
articles Of extravaganza necessity. Upon the best
data at command, have formed the annexed estI
mate Of gold and silver annually manufactured in the
United states:-
CONSUMPTION OF GOLD Silver USi.xD
STATES.
Bracelets, rigs, pins, watches, chains, neck.
Dentists goidbeaters, plate, household ar:i
ces, ....................... 100000
Total. ............. .............. S-2050,oo0
We have here put down the items in as small space
possible 1t is easy for any at all acquainted will,
the extent Of manufactures Of this Sort eaanerats
the many methods Of consuming the precious eals-of
appropiang them to other purposes than the maafac
ture Of coin The think oft the more we are
convinced that the estimate given above is within proper
limits. We can hardly turn our eyes in any direction
without seeing made Of the precious metals.
Almost every person article of luxury or ne.
cessity manufactured of gold silver and the aunuaI
consumption for all purposes must be immense. There
are in this city three four gold refining establish
ments, that melt average of hundred
dollars Ct geld every month In every city In the Union
there establishments Of this kind which do more or
less Of this business When take into consis
the aggregate number OF these manufacturer the es
mate have formed be viewed as excessive or
extravagsnt. 1t is question in mind IL the
amount named is not below the actual value an
nually consumed in this way. We must not lose
tight Of the fact that large amount Of the gold mined
o preseryed as specimens 1t varies with the taste
and disposition Of mem and is carried mush greater
extent than anticipated portion Of the gold p.odaced
in California is brought home by the miners and h,ari-
two millions Of dollars worth Of gold prodaced Ia CALI
toruis since its discovery had been laid up In this way
independent CT this 1t must be borne in mini that an
inme amount Of coin has been hoarJei since the
mines Of California have been productive which 10
almost much lost to the world though 4. still re-
NAMED in the bowels Of the earth. When all these
things considered all apprehension relative to any
Immediate depreciation in the value Of the metallic cir
culating medium Of the world must disappear In tho
event Of the mines Of California and Australia turning
out between and two hundred millions of gold dust
annually, for many years 1t must ultimately have soms
effect the value Of property through the worlds
but 1t must be very gradual when it commences and
leng time after before II becomes visible.
So many changes will have to Ia Ike place, such revo~
luton In the finances OF every country and every 20.
vernment be realized, before any serious effect will be
experienced by individuals by any depreciation In tho
value Of gold that it Is premature alude 10 It at pre-
sent.
The production Of goi Of course gives an petus TO
every branch Of industry and for long time the in
crease In the actual creation Of property keeps f Ia adj
vsrce Gifts representative This goes is very
gest preventive Of depreciation in the value Of the me-
tsc representative ofpropery but there another rsa
son why gold will not FOX long time any present
value The representative Of gold must hrs be displaced
entiry Our paper currency must be at least largely
reduced, before we touch the value Of our pre-.
cious metals, or before they will undergo any material
alteration To sustain pure metallic currency, va
would require ten times the amount of gold and silver
now In circulation to carry the present usnca
operations Of the world California has produced about
two hundred millions Of gold dust in little over three
years Within that three years the increase in tho
quantity and value Of property in the United States
alone, las been more than double that sum; and ou-
banks have less specie in their vaults in proportion to
their paper Issues In circulation than before the disco
very ofthe gold mines Of California or Australia Pro-
ery increases so fast in quantity and value particularly
in this country that we actually require pretty prolific
mines Of the precious metals to keep up proper supply
off representative We have only to look at our rail-
rotds our fleets Of clippers steamships our spends
palaces magnificent storehouses &c Sc to satisfy our
selves that all the gold We have received from Caiforns
has been rennired 70 haer uith