Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1853-03-19
THE GAIN OF SPECIE TO THE UNITED STATES.

The idea has been very ndustrousy fostered in certain
quarters that the considerable expectations of specie to
Europe from the United States would diminish the coin
of our country to such an extent that crisis must
shortly supervene This has arisen partly from trick
and partly from carelessness ignorance. 1t is very
that in and about New York there has been good
deal of bank expansion stock gambling and reckless i'm
poration; yet believe it is quite demonsrable by
figures that bank credit at least has not expanded in pro-
portion to the actual augmentation of metallic wealth
We prepared say that the result would have
been equally favorable had not the American boy found
the first gltterng spanges of gold in Suffers mlrace
But also not justified in alleging that CONNER
cia importations would have been inflated had not
California poured her wealth into Golfers
In the commercial review in Hunts Merchants Maya
zine for March find the statistics Of coin and bull
lion imports and exports for the last thrtytwo years
from 1921 to 1858 These data of derived from
the official documents and therefore undeniable Let
mark the agreeable result.
From 1921 to the close of the fiscal year 1917 % the
entire importation of foreign coin and bullion into our
Union amounted to 1882 169 81, and the export of the
during that period reached 49, 400 In these
light years there was accordingly balance re-
manning in chest of s7l 707 435 This was the for
ega accreton alone while from domestic production
of the precious metals mins received in round
bers, 1000 00o that total increase Of specie
year.
From the fiscal year 1882 to the present time the
imports of foreign precious metals in and bullion
24 900 000 while the domestic production amounts ac-
corng coinage $165 900 900 deducting from this
total of lS9 900 the Of $685. 900 00O which we
have exported and find that in four years and half
specie currency has actually gained 1913 900 600 each
year. or grand total of S104, 000 000
Fattering this statement is it does exhibit the
entire balance sheet of augmented national wealth
large amount is brought from California secretly in
order to avoid the charge for freight while from the
continent Of Europe considerable quantity is imported
every year by the immigrants who design settling perma-
nently in America.
With such annual increase of t~enty-four or
twenty-five millions of dollars in banks and in crcu-
ation, do not think it likely that Atlantic corpo-
raons will permit themselves to forget the warnings Of
1887 and to expand their issues and fayors beyond
wholesome limit In this city have every reason to
believe there is symptom Of consideration towards such
system. Some of the banks in the West which under
laws permitted to operate the basis of CAPT
tai supplied by State stocks and railroad bonds viii have
to be watched with care and their issues kept within their
limits. But all over the East-while panic makers
may from time to time strive to tamper with the money
market-we hope that the prudent controllers of the
leading corporations will check the spirit Of wild specu
aton in legitimate trade and leave it be enjoyed by
the bulls and bears" of the stock market alone
In illustration of view of the sound financial
dition Of the United States present renders the
following table of the relations of paper and coin during
the several periods of 1876 $780, 1886, and 1853 For
this statement indebted to the g Railroad Record
and we doubt not it based accurate calculations