The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-29
CIRCULATION AND BULLION BANK or ENGLAND
Prices roR WHEAT PER QUARTER

1Si5......... IL 3 15,592,292 81 0496l5
1t is impossible to give in table proper comparative
statement Of the fluctuations and variations prices
or the financial movements which affect them There are
numerous which less affect prices but it
will be by the above table that prices have expanded
the bullion in the bank and notes in circulation in
creased The changes in the commercial system Great
Britain. which have been made within the period named
in this table have doubt had important influence
prices The modification of the laws had wonderful
effect and the seasons great regulators Of the market
value of breadstufs The value of the currency how
Of the most powerful influences brought to bear
upon prices for every species OF property
An addition of sixty millions Of dollars annually to the
stock of gold and silver bullion of the world hardly
large enough to affect the value of property generally
Probably not than half amount was added
to the metallic currency Of all countries the having
been required for the arts for luxury This compar
cd with the enormous amount of fixed and floating
property 1t would have to influence to affect prices was
too insignificant to have been visible in any market
At times the financial and commercial world has been
convulsed for the want Of sufficient supply Of metallic
currency Revulons have been the result Of too great
expansion of the paper currency required during pc
RODS Of speculation to supply the demand crculat
ing medium. The rapdity and extent to which paper
representatives Of gold and silver be increased
effect of this paper expansion prices of every species Of
property has been at times most disastrous Having
real basis and having been provided to the artificial
wants Of community during the highest state of specu
latiyc excitement it could not be sustained the
suit in every instance has been the We
about entering upon in fnance-upon a new
and extraordinary state Of things altogether What the
consequences will be, at this moment deter
mine The production Of the old and gold and silver
mines of the world from this time forth is likely be
very large Before the discovery Of the gold mines in
Australia and before the mines Of California had been
properly worked the annual product Of precious metals
about sixty millions Of dollars Australia will 1t is
estimated yield this year nearly eighty millions of dol
lars California about the amount; Russia Africa
Mexico. South America and other parts of the world
about forty millions making in round numbers ag
gregate Of two hundred millions Of dollars the produc
ton Of gold and silver for the year 1852. While this
accession to the supply of precious metals
going on, we have hundreds Of paper manufacturing
machines located in all parts of this country and Eu
rope actively engaged in turning promises to pay
demand in immense quantities Banks are starting
up in almost every town and village in the Union
The old mills hard at work and the new ones
win not suffer their machinery to remain idle. 1t
is impression that during the present year the paper
currency Of the world will De augmented at least fifty
millions Of dollars This added the augmentation of
and paper currency in year Of two hundred and fifty
millions Of dollars IN contemplating this in
crease in the representative Of wealth, lost in
wonder and establishment We may not for year or
two feel any evil effect Of this great annual supply
Prices Of property may not be permanently inflated
the imitation may be gradual to have visible in
fuence. for considerable time upon financial and
mercal affairs 1t must he borne in mind that Australia
and California located in comparatively world.
We not lose sight Of the fact that in those countries
bordering the Pacific ocean, there is population of
fire hundred millions Of souls, who have been in dormant
state who have before had such field opened be-
fore them for the extension of their commerce. The
capital required to give activity to all the elements of
trade such enormous population Is likely 70
call forth, will absorb all the product CT the
mines Of that section of the world for some time at
least Ultimately unless something happens TO
the supply Of bullion there must be plethora and then
we may look for all those changes which depreciation in
the standard Of value is to bring about effect
Of such annual product Of gold anticipate will at
first be most favorable 1t will give activity to every
partment ofndustry 1t will every with steam
ships and clipper ships; it will the land with every
improvement for communication and transporaton II
will build up and extend cities to their limits
IT will put in motion the population Of the universal
world it will extend civilization and republicansm by
other it will give impet to every description Of
terpe that the mind Of man conceive II will dcvelope
the Of the land and Of the II will only
cultivate and adorn the surface Of the earth but II will
dive deep into s bowels and drag forth ts mineral wealth
Il will do all these and much more and when there
more improvements TO makc-no more room for tho ex-
tension Of commercc-no more worlds to compensation
the inhabitants Of the globe brought together
people in the most intimate intercourse commercially,
financially, and sociallywc may then look for
mutation Of capital Of surplus supply Of that rcpresen
Of wealth which for ages past has been the recog
Missed standard Of value Then We may look for de-
rangcment 10 the systems which regulate the COM
meree Of all nations for alteration In values which
will revolutionise the existing state Of things and lay the
foundation Of principles for the government Of the
world, An enormous expansion, an immense spccula-
ton increase in the value Of property nomnsy must
focw which will put out of joint all present ideas Or
finance The relative position Of property will be charged
public securities will appreciate and dcprcciac accord
ing to the Of income IS however be hoped
that may slide into the order of things prsdua
y to he hardly pcrccpble 10 those engaged In The
\ mercial and financial operations Of The day
Stock Exchange.
II .Aa