The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-06-14
euence taking place Since January last the importa-

fscrence taking place. Since January last the mpora
ons Of foreign merchandise into this port have been much
smaller than for the period last year. while
The exports from the country at arge have been larger
than usual This places foreign trsle upon better
LAST ana nsures rapid accumulation OF precious
metals in tho principal money markets Last week, tho
rceeip Of gold dust from California amounted TO
lan two millions OF dollars while the exports were but
about tbree hundred ard sixty thousand dollars leaving
balance in our favor OF than sixteen hundred thou
sand dollars.
The two great commercial nations of the world have
each noxhausible mines CT gold England has Austria
la and We have California. The gold product Of each,
this year IL likely to be nearly equal The yield OF the
gold mines viii vary much from eighty millions Of
dollars in each country and the effect Of such l
,nese accession 70 the metallic currency reat Britain
and of the United States cannot be otherwise than Of the
most favorable character Leaving out of the question:
the present the probable influence upon the value of
the metal circulating medium, We must look to the
effect Of such supply of specie upon the movements OF
and upon the Development OF our enormous
internal resources Since the first discovery of gold in
California, now period Of about four years, we
have made greater progress in internal improve
mcnts in the extension of our commercial marine, in
building up cities towns and villages in the construc-
lion Of railroads PLANK roads, canals, &c. &c. than in
any previous period Of five times its length within our
history Us nation and it appears to us as though we
had but just entered upon the which the mineral
wealth of California opened 10 the world 1t may be
that we arc rushing reekcssly bindy forward and may
encounter obstacles aud receive checks serious and
DISASTROUS in former years. but II appears TO Us that
the bos i, too substantial to be easily shaken and that
the currency must be much improved paper IL dis
placed by coin that revulsions similar TO those which
OF aud
ya,e credit entirely out OF the question Ia times
past il has been a sudden contraction Of the paper
rcncy OF the countrya sudden DISAPPEARANCE OF cona
denee among the commercial classes produced by APP
preheuons that the basis for such ination too
weak for the sructuretha things progressing too
fast 10 TIC awhch have caused those collapses that
have so frequently spread over the country carrying
distress and devastation into every department Of in
dustIy. Now financial affairs managed differently
our paper currency principally secured by deposits Of
Government and state stocks; circulating me-
dium is composed of greater per cent Of specie
our banks have lost large portion Of the con-
trolling influence they previously possessed; capital
in the bands Of individuals has largely increased and pr
waite credits have become much reduced. All this shows
more healthy state Of things and all those fears which
filled the minis Of fnancers aud capitalists in former
years have given place TO confidence and feeling of Sc
cuty which calculated to consolidate and strengthen
the prosperity visible in all the commercial opera
tons of the country.
We may be wrong in all our anticipations-the evil
dences OF wealth ard pcrmanency all sides may
suddenly disappear public and private credit may be i'm
paired dsrust and doubt may take the place Of conf
dence the supply Of precious metals may be seriously
duccd growing crops bghtcd restrict
cd all existing indications of prosperity deusye,
and oil calculations deceptive and upon false data
10 tat That haya
looked for but sanguinc in our hopes and far
judge of the future by the past, cannot
st the conviction that there never period full
of promise the present.
The Providence and Worcester Railroad Company has
declared semi annua, dividend of three per cent? the
Worcester and Nashua Railroad Company semiannual
dividend of 81 80 per share; the Winnessnlmet Land
Company six per cent Nashua Manufacturing Company
three per cent the FAN River Railroad Company 81 per
share leaving surplus Of S25,682.
The Of the Baltimore Ohio Railroad Conf
pany for the month Of May amounted to S74s74 So Of
which, $1 73i IS from the main stem and $50 40 20
IRE iucreise
within fraction Of sixty thousand the correspond
ing month Of last year This il The largest monthsreyc
realized since the work has been in operation
On Saturday the 9Th inst the Baltimore and Ohio road
completed to the Monongahea river a distance Of
one hundred and twenty four miles from Cumberland
There il doubt OF the completion OF the whole
road On the first Of January 1853.
According to the official returns Of the banks OF Maine
dated May 3D. 1s52 il appears that the thirty nine nst
tucns Of that state had capital stock paid in Of 49,
923o0o bills in circulation. So 25lSS2 net profits On
hand S167l4 II balances due other banks S93 t55 06;
cash deposited Sc, not bearing interest, 81 i6o2sa &C;
cash deposited bearing interest, SG534S Sc gold silver
&C banks 1922 800 rs real estate Sis 523 % bills
Of banks in Maine, sl39a12 bills Of banks elsewhere
1884, sol 6S balances due from other banks se564S9 81
due to the banks excepting balances $7o42 l6l 37o
tal resources SseC413S ID The last som-annual dyi
dends varied from 10 per cent-avcragng more than
per cent Acts were passed at the late session Of the
Legislature TO incorporate new banks at Bangor Halo
wei, Lewiston Falls Winthrop, Orono Dowdoinham and
Richmond.
The steamship Baltic from Liverpool brings four days
later intelligence from Europe. The is not jmpor
ant, at all interesting. Quotations for cotton
nued without alteration with an active market From
The manufacturing districts the accounts 20 IA
yorabe-thc excitement in The Liverpool cotton market
having slightly checked trade; but the prospect
couraeing for extensive demand for goods In bread
strfs there very little doing The weather continued
cold and wet and the want OF warmth and sunshine had
prevented the growing crops making that progress
desirable at this Of the year This he'd tendency
to stien prices, and in instances advance was
realized IN the money market everything buoyant
Consols had reached premium Of eghths per cent,
with large purchase The Bauk Of England finds great
difficulty in employing its funds and in consequence Of
the decrease Of private securities the bank has been pur
chasing public securities RImors aGoat in fnan.
cia circles Of London that the bank contemplated fur
ther reduction in the rate of interest The returns Of
the bank for the week ending May 2Sh compared with
those Of the week previous exhibit decrease of crcu
latiCn Of puhir 4S69 hnt
increase Of other deposits Go2 SIS increase Of socuri
ties, $500; increase of bullion, 1923 S2S de-
crease Of rest, $3.50 increase of reserve fese 61s
The amount Of coin and bullion held By the bank was
f20,o2s,13l. The most extraordinary feature in this
statement il the decrease in circulation in the face of
such augmentat on Of bullion. We do not find any
thing interesting important in files regarding the
gold mining companies recently formed in England The
excitement has considerably subsidized and there isery