The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-12-01

the previous value q property in the space Of
time of lent thousand millions; and have NO
aepAt a ensm thinss, hsvs hsss rsased 10 sAs
tent. We In this the great regulator II il this
Simultaneous imitation in all the elements Of finance N.d
eonmesee, that keeps the machinery in order W. can
not addse the direct or ind~ct representative Of pro
prs, wxncut prcpctiotss increase m property itself
She CULTIVATION Of TIE sol, mannfsct urine mechanical
ozdm rcantile indssuy-su extended and enlarged
anpreportion to the fseitss ct ocun~nA that not
Until all the channels Of trade ana commerce are
fe1 With scteaG Sonu ik osptal-uot until the means
ssops al the natural resourceset every country ars
tundvnt-E fact, moi until there "a supply Of capitsa
sfor al purvcsesgrsssr than the Nemandcan We look
for any depreciation In the stssdArd Of value OF gsld
We do not scok upuo the nuctSations In the value Of
geld in ths different markets Of the world Affecting
In any WY the standard Of value. Supply and demand
for local purposes and the balances Of trade between
dnereH countries variations In the nartse value
Of gosaand siker-s sometimes way, sometimes an
other sut they wholly Of temporary character.
Up TO this zine we change In the OLD order Of
things the standard Of value cfFh precious
meeas coBcerned but snsddtion to the volume Of me-
tac cy the rate realized during the past three
yss-sof any great length Of time, must ultimately wo
. tremssAous revolution in the financial affairs Of al
chefeadfng commercial nations Of the earth. Them
of money in any shape-psper ooin-is cslcu-
touemand regulates that value. An increase Of nfty
millions Of dollars annually in gOd ourrency kaust,
IN siEne be felt by all classes Money must eventually
become very cheap, and as II ohesps.s corresponding
thoDge must take place In al other things 1t will take
more money to purchase the thing, because the
vlue Of money becomes less tbs price of commodities
becomes greater Those dependzg upon azed incomes
for suPport win be seriously restricted in their resources
Governments corporations and incorporated companies
paying certain rates Of interest debts loans will
be much relieved from the burdens weighing upon
them, but they will nnd it difkouft II not mposble, to
negotiate loans unless the rate Of interest raised
to give income proportionste to the difference
in the value Of money without increase in the rate
Of interest mp for the reduction In the value Of
money capitalists will find other employment fer their
funds. There is however, very little to be apprehended
on that SCORE Changes in financial and commercial
matters gradual, and al parts move together We
hardly perceive the changes going srscnd and it
IL only by comparing the ccadon of things at remote
dates, that are able to the difference Twenty
years hence California continues prsduc tive at
present shall be in the midst Of revolution in the
currency; but shall hardly realize change before
that time. We have enormous demand for active
capital supply before surplus will accumulate; and
it will be long after that before capital will go begging
people We have just opened channslsfor the
Of all that country bordering the Pacific; and the
miners In California and Australia viii have to work
pretty sharp to keep the supply of geac to
eusainths rapid increase in commercial operations Of
countries which have, until recently hardly been heard
OF in the mercantile world.