The daily union., 1852-03-11
COMMERCIAL.
From, our commercial Correspondents.
Nav YonE. March .. 1856:

Nav YoRK. Mach o. 1852
The week has closed with more matked development
Of those features pointing to progressive prosperity ho'h
home and abroad, the ncPent state Of ~hich we TO-
marked upon many weeks since, The long en& oil specie
from this country has al last ceased with the political
that gave rise IT, and hencelor'h we sha oesln
10 The effect Of the large supplies oil gold upon
the markets The relative values o the F~o ihsss nave
up 10 this time changed all, except within inc mar
gin of fluctuations which disturbances Ia the course oil
business always occasion. The cheap demand ior silver
was for the East ladies', and for boarding thioughou
rope where with the ptlon Of Poand, silver Is me
legal operation which carried the metal as e
fecuay without the Of circulation as II n had TO
turned its original The effect OF this would nave
been disastrous upon commerce had not gold opporahe
su pped the la France S6O0OOO0O, aud In the
United States $50 900 0OO making 900 Of gold,
coined in the last year, and occupied the channels oil
circulation silver left them IL VIII be observed tha'
if the silver had not by political Tears been called ou'
of circulation there would have been no want ior ths
pu rpose and that IL would really have been drug.
The demand for IL for ejaculation was, however, as
great supply, and the united sources OF Russia
New South Wales and California; have not afforded any
The markets OF Europe received oil god
which has Supplied the place of silver passed into private
boards. The which politics have now taken Is
the silver which, gradually coming back upon the
malkets finds It's place supplied with gold, and II s there
fore losing the premium which before commanded while
The oyeburdened banks OF France and England are adopting
get either gold silver in circulation in order
relieve them of the weight OF coin with which they are OPP
200 600 and about reduce the Of interest from
to per cent order encourage its employment The
bullion the Bank Of England is about $S zoo OOO and the
rpus which the bank has TO loan are
reduced the OF interest to the lowest figure and
reduced the price which il will take United States eagles
and declines issuing more ID or $40 notes, in or
der TO stimulate the circulation of gold, of which there
such gut. 1t will be remembered that the principles
on which charter of the Bank Of England
ed in lSl5 was, that the bank should have option
in the supply of the cnuencythal trade alone should
| regulate the matter. Thus, the price Of British stand
| ard gold fixed at f3 us 9d per ounce and, at
| that rate the bank required equally give notes
for coin coin for notes. at the option of the holder Of
either. The object was 10 make the currency swell in
volume brought specie into The country, and
allow the gradually to subside as commerce
red the gold away The bank allowed take silver
10 an amount limited t2,G00,000 Last year, when
United States gold poured freely into the country the
bank allowed branches take the eagles E3 los 2td
per ounce the gold being under British standard The
siuton ha wing become utted 1t will take the eagles
only al G3 los Id which is very he under what they
can be turned into British standard for, when the bank
will be compelled take them II cannot refuse give
notes for gold but refuse small denominations, and
has done Thus W h money at IA and per cent, and in
some cases, CALL low as per cent annum the ns
adopting every expedent to get rid Of its god and
stop the influx Now the United States coins all gold and
silver ninetenihs fine that is say, 10 OF either
contain pure metal. Now although the Bank of
England will give bur f3 los. lai they will sell for f3
los 2bd in open market AT the time, United States
silver coins which brought in May last, 5ei, bring
5ss that the relative value OF gold silver was
in Nav last to $685. and to Is 667-a fall of per
cent in the relative value silver in the London
whstandng that the supply of gold has been so In
The me time The natural effect of these efforts part
of the great reservoirs promote the of money the
circles is that Of confidence
which repeated ailures growing fall OF
prices last year, created and to stimulate enterprise The
positions assumed by the Gar in relation to
the projects the Prince President powerfully
the fears and under the operations of the continental
houses, the good makes have become very active Fad
ing extraordinary activity in the market As com
pared with last year. the sales follow in Liverpool