The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-09-30
Abstraction Emigration.


Emigration to Au1.raiia was proceeding att rapid
rate. The ports Of Liverpool, London, Bristol,
Glasgow, and others, being ibronged With f1c saipS
about 10 sell for tho gold regions. The L9ndsn
Timcs contains daily two columns Of advertise
Of shias loading ard to sail fcr Port Philip and
81 drey. With reference to the large shipments OF
silver coin which had lately taken place, CONTINUE
suca CT which threatened 20 produce rctY Of
the silver circulating medium, tie London Tunes
If he .hiprnsnts we're confoed 20 gold coin 20
great evil Wcud srge. L0ss of interest AID the ex-
pence Of freight would be the only consequence, aud
the exchange would DO rs-adus.ed BY tho return Of
the supsraDundaEt specie TO this country. IL
is uNdlrs.ood, however, thst tho shipments have
rot been confined to Esd coin, but include large
quantities Of silver coin slso A want Of small
Grange uss eSperencd in The colonies as well q Of
ucre vaiaabie money, and this want has bscE.
plOmptiy suppEed IL is 70 be foared chat, az in
he case OF the gold ooin, IL hes been sppod IN ey-
ess The eonasouep may be more incOnvenient.
vailed Tereiyo ard ray British oliver without re-
gard % The Limitation OF tho tender which Is by aU
established IL this country. IN soma 81 The colonies
ibs ryactiee has Obtained the salct,Cu Of local
law go Aus,laiia IL Is believed TO have prevailed
Fi,bout auy question hayrg been raised ~ 20 i.s
'tcali.y. Under Irssent ciscumstnces, however. u
10 out d the qrsfion .hnt practice 80 uo5ound IN
principle shor!i TO nrlntsinad, nnd that parsons
shoulJ be forced 10 receive large payments IL coins
not intrn.iesily worth the zon which they represent
10 exchange, ard witch have n nero local ald fac-
,iious value 7. Uould bs severe injustics 70 the
coloriss that they should be glut,si With a. fn1ux
Of token silver oops when their nstural dasre IL %
have ulilb IS Ehoh 10 coin thor own gold. Tho
probable consequonce would be-, thnt sforo5c sion
ing loc- irSonSsn4encc. the grea.er portion Of NJ -
CONS would 10 cured TO Iris country, % Tho en-
bs,IasmeEt Of tAoso 10 Whom they may DO con
sigtod.
The attention Of the sovrfnn,nt y urderstoad
TO have been drawn 10 this state OF things from
recent excessive demands upon the mint for silver
coin, vhich can Be accounted for under no other
surposi,ion thnn that OF large export TO Augt,a-
liza The natural remedy 10 prevent the recurrence
% such demand, 70 the ultimate inoonyeDience
both Of he colony and the mother country, would
be TO declare by royal proclamation limitation
upon The tender of British silver coins in the Aus
tYolian provinces. similar 10 that established by
law in Great Britain, and II is understood that
such measure is in contemplation II must, how
ever, DO some weeks before privy council can as
sembie and several months must glimpse before an
order Issued by IL could be promulgated in Austria
la. The remedy will 10 too late to rectify what
has passed, but word Of caution and an intimaton
that such proceeding is probable, may. have the
effect Of preventing the increase Of shipments Of
silver coin before the real wants o. the colonies for
increased circulation Of this description are fully
7rSfrt 1rfd.