The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-02-18

This an Increase OF per in the value of
gold Now, 1t will be observed that what called sex.
changes in the remittance ola certain of money
England or any other place. should be COMPOUNDED with
the intrinsic value OF the money Ia the
between the United States and Great Britain for
mer gives the uncertain in exchanges-hat say,
many dollars the pound sterling with France it is the
REVERSE she giving Tor uncertain francs the
dollar Prior the great coinage of 1916 the currency
OF England was in the confusion and Spanish dol
lars were almost the only metallic remittance the
ry and these then rated Cd EACH which gave
value OF "a A the pound sterlinga thing which did
exist until 1916, when the sovereign coined New
ertheles at As Cd the Spanish dollar money
pound sterling worth 81 4i4 but tho value OF
Spanish dollars continually changing, and they gadu
ally fell to be worth than As. 81 each, there
fore requiring greater number pay the debt in
England Thus, If a merchant had Ei00 pay in Eng
and and RENTED 81 A Spanish dollars, and sold them
As 3D. he paid his debt if he could only them at ls
I'd he remit 81 49, This called rise exchange
OF per cent, when really it fall in the price of dol
lars This fall in dollars and bar silver
the relative value Of the metals had changed but
ply because when the great English coinage 1916 took
place, and the government had supply an entire silver
currency profit itself of 10 per cent the demand
for silver was steady bn when that currency
the demand for material to make diminished, and dollar
fell in vaue particularly that the restoration of
peace facilitated supply At this time there silver
here, and none in London-the currency of the
tries is practically gold. Now, in exchanging gold
against gold the stands thus; BY the coinage
1916 The English government took Troy pound of gold
9I55 thousandhs fine, called standard and coined
10 $40 sovereign Now from follows that there is
in each piece TO- AZ gre OF alloy and liz SO gs pure gold
Hence, above, eagle 232 grs. pure gold
1872 gfs dollar which, divided tho liz ss grs pu
gold contained in sovereign, makes the value piece
exactly Sis6 Now banks and merchant. persist in calling
this 81 per cent PREMIUM although there premium
the and 81 Sc liz SO grs. of pure
gold United States and precisely the same quantity
in London Yet people persist in quoting talking Of
premium. And we have political writers who gra We
y refer to that ancied premium consequence of
I tariff
Now it is proposed bid for large supply of silver In
the markets OF the world by diminishing the quantity OF
silver in this which call dollar Thus United
States haldoar contains 1855 grains of pure silver 1t
proposed reduce that quantity I72 grains of pure
slverthai is TO say TO make the halfdoar equal Is
grains OF god and small pieces in proportion. Now, the
greatest proportion Of the silver currency here is Spanish
fractions The average weight OF these sxteenhs eghths
and quarters Is. according to trials OF large quantities the
mint 37i grains and they contain 1872 grains pure silver
the doat 1866 grains the habcing 81 grains less
than the proposed reduction Now those deprecated for
-ign pieces will bring 3 per cent premium In the New
York market readily in exchange for god-ha is say
nomnaly, $40 worth will command n gold eagle and 80
cents in other words, 1890 grains of circulating silver
will command 237 grains Of gold, which the proper.
ton OF to H. Now, 1t will be observed this arises
soy from the form, in which the silver exists because
have above the actual market price bar silver
| In London i. Is.
1t results from all this that bar silver purchased in the
London market the last OFFS.
would yield profit OF eight rer II into frac-
tons Of dollars, II there any Of coinng
Ii is siiue that is scarceit is silver coin which Is
wanted. The material exists in abundance, and tho
people Of the United States offering immense pre-
MUM for the manufactured CON- but Congress provides
mani factory
Money continues quite abundant daily getting So
and speculation is constantly becoming active, par
tcusry In real is to be observed however that
the real estate speculaions confined actually
occupied property paying high rents those fancy descp
which in former years attracted much do
realize very high As yet the tightening OF
the foreign market has produced influence here, but the
enormous bank loans hang like impending
auche, which the first rude breath may prec pitae. Ex
change continues about % TO- with OF about
| 1850, 900 in specie last week.
The market IL quite heavy, and prices may be
called cent lower than last week. The consumption Is,
however. immense, and the trade by conf
dent that the present Of GIG bales the receipts
OF index the crop. Flour is rather unsettled
by the last The English markets said have
affected by of large shipments from Odessa for
England. Sales western, 81 g34, IS ISi, and SO az
Wheat is dull I25 for southern red Conn., SO 60
cents Pork, new mess, SIG rs SI7; prime, SIS so a
SIS 81 Wool has been actve-sales fleece, say 10000
pounds, ~ SO pulled, AL 10 The msnufac-
turers are quick buyers at these rates.
| The stock market presents features.
| Yours, PRENTICE.
FSE W.tches, Rich Jewclry, Pure silver Ware.
card cases, goods, kcM. W. GAIT
article. an rust received invoice Of the above