The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-06-03

This gives accumulation Tor the thus tar of nearly
Sll 900 against about S90o00O0 in the period
last but the accumulation this has been nearly
all since February and still continues with increasing vol
ume The quantity held in New York by bank and sab
treasury is now over Sf700 000a quantity much larger
than before, and with little chance of dimnuiion.
The prices here not such indicate any material
in the prospects Of importers, while the inhu
Of abundant money abroad is raising the prices of
produce there thus stimulating the exports hence In
article is there marked improvement than in cotton.
of which the sales the last four weeks in Liverpool
reached the quantity of 900 bales trade
gradual advance of ID. per b for fair New Orleans,
being advance Of lidsay Add per To- since January
The consumption from January to May is was as fol-
lows .s,ss-sttt ~t .ss
r ss;s. oS 1sis, ea s..sa fss Maya
i 1881 .............. a asssso 1 mm
Tie export of the this rising market furnishes
good supply of bills which command confidence; and
the demand Is less than last the OF specie
have nearly ceased The multiplication OF banks has been
here very rapid and the of loans up
very high figure, compared with late years but
this increase of loans and circulation has not in degree
equaed the increase In business in the State The highest
point in the loans Of the banks before the creation of the
free banking law was in January, 1887, on the eve
of the general suspension which took place in the following
May That suspension and its consequences carried the
loans down in 1870; 'nce when. the ten
dency has been increase. 1t will be remembered that
the prices OF produce in 1886 enormously high and
were as follow;
Quantity and vaiue of Bread,t6s arved at tidsWaw.
lss, .s:;ss :ss;s issas
Thus in 1886 the bank Of this State represented
900 Of breadstu and the of loans
now represents 900 tons, or more Than double the
quantity and similar difference through all values
This affords cleares indication that what called
imitation scarcely than the natural growth of credits
following increased quantities Of exchsngeable values and
there is lack Of ability their loans In 1886 the
of barrel of -four from Buffalo Albany cost
81 in 1852 will be under 40 AT the time
the paper is not than In 1887 in amount and
far less in proportionthat is say the circulation In
1887 SIT bank notes for every of merchandse
moved the canals In 1851 1t only 81 each ton
but in time the business of the northern line OF
railroads. and Of the Erie road has swollen the by
TONS which would reduce the proportion Of State
circulation Sc SO each ton scarcely than
third OF the proportion Of 1861 II pretty evident
from these facts that nothing Of what called "infa-
tom really exists the part Of the banks. Their loans
indeed large but they represent merchandise and pro-
duce low prices such be favoraby affected by
the Of These low prices of supplies
material element in the high rents Obtained 10 New York
for real estate four COAL and provisions are now much
cheaper than the former period Of real estate speculation
and with the increase OF population here, the muplca
Of business and the continued low prices for prime
enable the landlord obtain higher II IL
in this that cheap transportation operates in
| favor Of the city.
The immense increase in the consumption Of cotton will
be accompanied also by greater demand for wool. In
this country at this OF the year, the manufacu
rers and their agents always raise immense hue-and
cry about the high price of WOOL alleging that II ruins
them, and prevents their going with their business
This s ofcourse bargaining until they get possession
Of the farmers clip. There Ia doubt whatever but that
the clip less than the consumptionmore particularly
as, in the districts which within reach OF Market
mutton has commanded high price. 10 the last year
the mpoaions Of wool very large, being than
double those of usual but this year the condition of
Australia, whence England draws her largest supplies IL
such as to compel England draw her wool from those
countries which last year supplied the United States lesv
ing dependent altogether the home
supplies The importation and the growth ofwoo sccord-
ing to the census, as follow
1850. Price, 1851. Price,
cts