The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-11-20
TABLE SHOWING Cosr OF ARTICLES OF Foop IN THE
Cry OF NEW YchK FOLLOWING YEARS.
Mop q. 1896 Nor. lSl3 Non H. lS1I

The difference between the prices Of edibles in
ls43 and 1852, appears the moro extraordinary
from the fact that in the former year communica-
ton by railroad with the interior was limited
We then had no Harlem Railroad beyond vii
lismsbiidge, fifteen miles in length The New
Haven and Hudson River roads were not in exist
ence The Erie road had only penetrated Orange
county. The Long Island aud New Jersey trans
portation with Camden and Amboy were the only
roads completed within immediate connection With
this city.
One great argument in favor Of the extension of
the Erie railroad to Lake Erie, and for building the
roads through to Albany and New Haven was, that
by giving the farmers facilities to reach the city
with their pr dace, the cost Of living in New York
would be much reduced.
We now have direct railroad communication
with the great fertile States of the West and with
all the country to the North Of us, extending into
the Canadas. with new roads extending through
New Jersey into Pennsy vania and yet, straoge to
cay, living in New York is about double a. high as
it was in lSl3, while the population from lS45 to
1852 has increased more. than one-third
The only rational explanation to DO found for this
difference is attributable mainly to the great expAn-
following table
NUMBER AND CONDITION OF THE BANKS OF THE UNITED
STATES DECEMBER J. 1886.
No Banks Cepi'a Circulation Specie. Deposits
1878 Al 166 $1403 OI 038 $40 bo $l5 o4 4lO
DECEMBER /, lS43
6el 1928 eco $50 6e3 COS S33 500 $50
JANUARY 1, 1851
6G5 4e6 966 1888 $bi 907 sol $l2p O76e02
Since the date Of the returns made to tho lst
January, 1851, large additional number Of free
MD hor1E haua snko - IL
States Of New York, Indiana New Jersey, Illinois,
and in the New England States. At the present
time the total number Of banks in the United States
arc not much under one thousand, with CORES
pondingly increased circulation and without an in
creased ratio of specie, Safe stocks have mostly
been used in place Of it, for banking purposes
Twenty new banks haze started up in this city alone
IN The present. year Nearly evcy corner has noo its
bank
In 1886, the paper in circulation was in the
ratio Of So 80 TO 81 Of specie In 1913, the
paper money was reduced to only 81 as of psper
to 81 Of specie On January l, 1851 the paper
money was again increased to about $3 Of
paper to 81 Of specie; and at the present time,
November, 1922 the excess Of paper over specie
is probably about So 80 or. SO as to 81 Of specie.
The stocks pledged by free banks, on lst January,
1851, amounted to 81, 306, S47 The progress Of
banking in the United States has been very curious.
It was for time believed that the constitution
of the United States prohibited the State from
Issuing bills of credit. In 1911, there were only
eighty nine banks with capital Of s52, 600 900,
circulation Of $2S 100 000 and specie to the amount
of sl5, 10000. There was no great increase in
banking until 1916, when they increased to two
hundred and forty-six great increase in banks
occurred in 1884, when they amounted to i've hun.
bred and Elk Ii in this year, with the increase
of banks and paper money, thatthe great imitation ia
prices commenced, which ended with the explosion
Of 1869 On the I0.h May, 1887 all the banks
ir New York suspended gpscis payments, which was