The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-12-16

Each successive shipment is larger before and
tle evidence OF diminished production lessened
payments tbs other hand, the remittances more
regular and larger California shows the benefit of tina,
export OF specie which is such dread 10 protectonisis.
With her the export of specie has turaed sand bank into
magnificent and furnishing city Large as has been the
quantity gold that its producers have been compelled 10
give for all the necessaries OF life, they have been
bed procure in addition during the short OF their
operation. the uxuries and elegances OF civilization La
bor stimulated by large reward has wrought out its
suits with unwonted rapdity The gold, which for couness
ages reposed the bosom other SOIL suddenly
converted into warehouses, palaces theatres, Custom
houses and churches The other portion of the State has
not been less progressive Large have been in
vested In machinery and in fuming rivers The number
regular citizens have increased, and their
possessions have enlarged. The wealth OF the State has
therefore increased in the double ratio OF numbers and dis
rbutive wealth. With increasing population and wealth,
the amount OF gold in circulation has become consd
erabe yet above and beyond this find the monthly
ports continually increasing this part of the country
Nevertheless channels Of trade being continually
opened and gold in large in other directions
Although receive actually large amount the Atlantic,
tits probable that the proportion which get is becom-
ing less the aggregate production The effect OF the Aus
ralian discoveries has been TO draw of considerable
portion Of the floating disappointed advenurers who
sought in mend their wealth Ii is rearka
BILE that the first Australian gold received the United
States mint was from the hands one who having failed
California, succeeded in New South Wales The society
Of San Francisco, therefore, approximaes steadily
the development Of the mines becomes sure under
the appliances Of experience, capital and intelligence.
There is little chance apparently of diminished in
in the production of California but the Other
hand. possibly supplies through London from Australia in
addition Certain is that the wants of the great Yves
and South for metallic currency great and growing
Their development Of produce is almost rapid proper
tonay that of California and prices rise the demand
for currency in the double ratio of greater quantities
higher values Thus 100 bbs -four 81 represented by
$780, but $50 bbs So represents $780, and this again
HANGED by the numbers of persons who deal The demand
for specie for the South and West large here but by
means effective if the of supplying coin
were more adequate Banks multiply with fearful rapid
ity under the demand, and this multiplication of "rag
money" for western in substitution for gold is en-
couraged by many western democrats who should know
better The sales OF produce abroad under the influence
of gold have advanced the prices this market
under larger supplies than perhaps before
ward The rise which has taken place -four here and
the weekly shipments Liverpool, with the prices there
have been follow: