The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-09-14
COMMERCIAL AFFAIRS.
rInr EY MARKET.
Mo-nAs. september Is.


- cumheris nd a. Erie Railroad 4. Harlem - Nor
wich ana Worcester =, Long Island 81 Florence and
Report sdvsEced 4 per cent Atlantic and Pacific Ship
Canal Shares sold $500 IAN advance of sl25 since
Saturday. Edgworth - Hudson River Railroad I'd
Mortgage Bonds ~ New Haven Railroad +, Michigan
Ceutrsl Il, Northern Indiana a. At the second board
the market buoyant but very little business
was transacted Long Island went up q per cent, Flo
renee and Report a Ne. Jersey Zinc "a Montgomery
Mining q since Saturday; Norwich and Worcester Il
Long leland moving just anticipated. The advance
is the result Of cocripg combination among the bulls
snd not caused by sny particular improvement in the
affairs Of the company The Philadephis bulls have,
this time caught the Wall street bears. Large pur-
ehases this stock have lately been made in this
kes both sime and cash and the streets will pro-
baby have to pay pretty large differences before
reaction takse place. Cumberland coal settled down
little to-day Not much stock was offered slight re-
action expected In consequence of the rapid rise in
prices few days since The stock is well held and will
without doubt. soon forward again Nicaragua
Transit after being quiet few days drocped little this
morning With small sales.
The receipts At the ece of the Assistant Treasurer of
thiS port, today, amounted 10 Sl07,cG0; payments
s24 eco 7s--basuce, So 573s65.
The steamship Humboldt from Hayre brings four days
later intelligence from Europe The demand for cotton
prices Bresdstuns had slightly declined The markets
had been but moderately active triug improvement
hsi bSenea.Eod IN conus and the closing prices were
eighth per cent above pur The Bank of England re
turps foI he week ending the 2lst of August compared
with the previous week. gives the annexed results
Public deposits IS sal 525;-Increase. OILS COO
other deposits l2eib 0si-Decreasc. S5S,440
Lest. ........,...... 2SS 643-lacrease. 1873
On th. other side Of the account -
eecuT;fies TOO 23S--Incr.osa sfr
Other securities 49,. lo.7l4 loo-Decrcase. &c ESQ
Notes unemployed. EGGS cl5-Decreasc.. 2545
The OF in crculatcnis e22 200 rs being
decrease Of f1oo o and the stock Of bullion in both
departments is Ell S73966 showing decrease Of 49,
15l VIXEN ccmpsr,d with the preceding return
Books for subscription the balance of the stock Of
The L Mail Steamship Company-Collins line-wil be
opened wednesday The 18th OF September at the COM
paDy's Office and remain open until the 25th inst
The Miners Jcyaal says the d. mand for coal contn.
res very gocdin fact kinds cannot be purchased
NJ present al the gales made by operators are in
small lots for immediate delivery prices, consequently
remain ye firm. with upward tendency. First class
white ash coal has advanced 10 cents and also red ASH
b. canal 1919 centS ton in this region which, added
to the advance in TOLL and transportation makes adj
vance Of &c ond 90 cents per ton.
The currency Of the British provinces which is at pres
eat engaging the attention of the British government
will probably be decided upon in Canada during the
present sesion Of tie legislature and owing oxten.
sve commercial intercourse existing between this country
ana those colonies is of considerable Importance
AT present that which oms the basis of the Canadian
currency the eagle OF the United States issued prcv
to the alteration Of The mint Law in 1854 which
tsns 27 eTsns CT pure gold and rated fifty sings
Halifax currency while the eagle which is Of nseri.
value passes a. the rate; and the silver dollar,
whether Spanish South American, as well n that of
the Une States though fess intrinsic value than the
others is rat ed a. five hirgs and penny, owing to
the sdrnis son Of the new eagle into circulation.
In New Bsupiwick, the rate assigned to the United
States dollar is five shings and in Nova Seotia it is
five ana tive renee half penny; but in Prince Edward
Island owing TO deprecated paper currency. it is
sted az six sni two pence and tic half dollar at three
sLhlipgs
Not cs,y are these discrepancies - which have
been BY assigning five shillinss one-fourth
Of pound TO tee old Spanish dollar, which was orr
ginaiy oTe4 valuation OF that coin-the source OF
much Inconvenience in the colonies but owing to the
dissemination q amount not corresponding with the
subdivision Of he in circulation late1y-t the old
Spanish pistsreen having vanshed-therc is great diff.
Guilty in adjusting tie smaller coins stheir proportional
rates and avoid inconvenience. these pass in retail
transactions at different value from that which they
bear by law.
The 81 error shch prevailed in the colonies
vere increased by the pursued in the United
state with reference to the currency which in adopting
the decmsi system Of amount, proposed the Spanish
dollar the basis Of their currency but assigned less
proportion Ct fine silver to the United States dollar and
whsse currency further deprecated in 1894 by d.
uinshpg the quantity of pure gold in the eagle thus
rendering il e. less relative value according that of
pure silver and gold, than ten United States dollars
LII.
in Csrada where made legal tender to the extent
Of dollars which depreciation has been further increas
ID by the iiaux Of gold from California. The pound
sterling in Censds t. however rated q u.s. 4d which
corresponds With the intrinsic value Of the eagle when
rated at ten dollars.
To remedy these nconveniencies, and discrepancies
the British government propose the following plan
for the adoption Of the local legislatures TO declare
the pound currency TO be equivalent and 70 represent
TO- 22 glsns q standard gold 90 ST. grains of pure
gold ard hat coins Of this value nutplios thereof
be struck Her Majesty mint, to be called royal
and which viii be Of the value Of pound currency and
equivalent four United States gold dollars That the
Btish oversign continue pass at Ct e I'd currency
other cc1s At equivalent proportions end that the
gold coins Of he United States at present issued shall
pas current end be legal tender the eagle at e2le
rtDcy and other cous ii proportion. That further
silver ceus shs pass current within tie provinces
or l. Ii gold end that British silver coins sha; continue
q psss ST heir Ircsut rates. until silver coinage
fha pe izsud 30 limited extent FROM Tier Majestys
mint for cremation 10 the provinces but which shall
NOT IL a Legal ,euGrr exceeding hty shiin5s
currency.
with reference 70 silver coinage 1t iarther r'eon-
eI bet col a. be struck ct the miu.. containing the
same rrppostion u standard silver 70 pound currency
bb e silver COTS Of the United Kingdom have 70 the
opnd e,lpr which shall not be legal tender fo more
than city shiliDgs currency and that such coins shan
not DC larger than half currency which sh"Il 90
equivalent in circulation to the United States hait'doi
ana that the smaller silver coins shall consist Of
sh,ungs half shiungs, and quarter shlbng-ths snn'
;ue, so be divided into Instead Of twelve pence IN
Ieb case the half penny viii be equivalent TO The GEN.
CT the United States.
,r course would be. as Il i intended TO Ger.