The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-12-18
COM NJ ERClAL.

H.

NKw YoRx. Dec. TO- 1861
There fair demand Tor money, but the supply from
private sources rsmsins good and rates do change
nrisy The export Of specie during the past week
about million of dollars, of which only was
American gold. The remainder mostly silver of va
ous coinsges sent forward under the influence of the in
creased demand for that metal which manifested itself in
London on European sccoun The accumulation Of specie
In the Bank OF England continued very great being already
over E6,OOOOe0 but IL also continued decline in the
Bank Of Frnnce which decline was, In degree,
cssoaed by the increased disposition hoard in private
hands caused by the threatening of politics.
by tho changing value OF the precious metals in relation
each other The great supply of gold from Russia, Aus
ralia, and Calornia naturally tends depecats that
metal as compared with specie bnt thar tendency
srded by the degree in which silver countries of
Europe has been boarded. and gold demanded by the
wants OF circulation As instance la France the
age OF gold during the ten years ending with 1910
hirtyth millions dollars OF the former hundred
and thirty millions OF the attesay to seven For the
eleven months ending with November last the coinage
was fifty millions dollars ia gold, dollar and dolar
pieces. and twelve million five hundred thousand dollars
in xilverj that is-to say. four Of gold of sill
yer. This represents the immense demand Tor gold
IN that county alone and this has displaced a sim
liar quantity of silver. Nevehssss tho price the
latter has advanced compared the former, while
the Of producing silver has by of che apened
rate of quicksilver been reduced, that double impulse
10 given to It's production In tho last week in November
$i,OOO.OOO arrived la London from South and Central
Amercamore than half silver This double operation of
increased supply OF silver and enhanced demand gold
tends preserve the former relative values of two
metals But the operation is aided by political fears and
restoration OF peace would cause gold deprecate
speedily compared with other products industry and
by doing. lessen the OF the people of Europe
while would relieve the pressure upon the
and diminish the value of loans and mortgages. In this
point of view there is wisdom in the Of the French
increasing the breadth Of the gold currency
since by that operation the small land popretors be
relieved from the mortgages which swallow up all the
earnings of the provinces concentrate them in Paris
Since the discovery of California gold has been seeking
itself its appropriate channel into tho Of tie world
The English bankers and agents srove hard to make the
British steamers and the London market tho channel and
reservoir for its ultimate distribution For that purpose
fregh and charges Disseminated in favor Of that
route and their efforts favored by the absurd
OF the mint Philadelphia, which increased the
coinage by the expenses incurred to and from Philade.
phin Nevertheless has been satisfactorily ascer.
tained that it il cent better send the gold to
New York than London-consequenty, that the Uni
ted States vessels and dealers will retain that trade
more particularly if the continued efforts of the Lon.
don houses to divert 1t met by the establishment of
mint in New York, which will still further reduce the
cost Of coinage Tho arrangements both sides Of the
Atlantic, relation to shipping and receiving god have
reduced resulting exchange from l0{ per cent
which very nearly the actual par and from which figure
the rate will deviate long the trade remains
healthy During the past year the trade has been emf
neny sound and l0l l0 per has been almost the
rate allowing the plus product of California
pas. oil Europe gradually and without pessare-he gold
export aordng handsome return to the county Leery
the impulse gold export has been strengthened by the
great in bank paper which is pushing It OF
on or rather preventing il from coming in This
mostly owing the nbominabe neglect OF Cong pro-
vidng OF coinage, AS pointed ont in for
mer The coinage at New Orleans and Philadelphia
for Novembe was