The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-24

inc ioh TIDE OF successful operation. This was the
way mining Companies were formed previous to the
as' revulsion. 1t is thsway many are FORM
ca now, and the way they must all close.
only ny working mines upon scientific
principles that we can expect any actual
results. Talking about oxides, suphurets, oses
veins, shafts, adits, &C., &c. in Wall stree,
I'LL doomsday, will not make mine productive. It
requires long and steady labor, great economy in
management and expenditure, and wthal rood
vein OF rich ore, to make a mine profitable The
Great Northern Lead Company and the North Caro-
lima Copper Company have gone to work in tie right
way. They have devoted OIL their energies to the
extraction of from the earth and in each case the
result is likely to be most satisfactory to those inte
rested There is no exaggerations about the value Of
either. The Great Northern Lead Company have
been entirely engaged for nearly eight months in the
erection of steam engines, crushing machines &C.. in
sinking shafts, and in running levels; and in few
weeks will have large quantity Of lead in this mar
ket, which will readily command $l6O $l65 per
ton. The North Carolina Copper Company have re-
ceved upwards OF 200 tons Of ORE and as we said be-
lore, VIII sell at auction on the first OF March, 100
tons, which will readily command $l50a $l60 per
ton There isno deception about this This is prac-
ticay demonstrating the resources Of the mine and
making it productive from the start 1t is time that
the public' should understand which companies are
formed of ciques Of SPECTATORS and which are form
ed of individuals who intend to pursue mining upon
correct principles.
We learn that the Texas Indemnity bill comes up
for consideration to morrow, Thursday in the United
States Senate. The proposition is TO compromise the
whole difficulty between the government and the
Texas and her creditors, in regard TO the last five
millions Of the indemnity voted her in 1850 by the
issue of 00o federal three per cents in lieu of
fives. This would cost the government no more In
terest, and would cover the indebtedness of Texas
arising from the original pledge Of Texas reserves
1t should pass without dissenting vote; it is due to
the creditors Of Texas and our national responsibility
urges the raising (if POSSIBILITY of Texas from her
slough of renudiation.
The brokers and bankers of Wall street, who re-
Gently established banks in The States of Illinois and
Indiana, the redemption Of whose issues are secured
by the stocks OF those States find it very difficult to
make benk bills issued on such q basis pass cur
renty here. We cannot see what certain security
the holders of this description of bank bills would
have for their prompt or ultimate redemption in full
in thu event Of the parties here-who now redeem
this description ofcrcuation and whose interest is at
present promoted by continuing its redemption
hereafter refuseiDg or failing longer to redeem it,
If it should become necessary to sell the stocks
pledged for the redemption Of the bills, it would be
impossible to dose without carrying down the market
price very low; and in fact it would be very difficult
to find cash market for any large quantity of I'LL
nois stocks at almost any price. The price to which
these stocks recently SO rapidly advanced, was
caused by the demand which sprung up for them so
unexpectedly to establish the banks here alluded to-
and these stocks should be again put on the market
they doubtless would recede to the prices which
they formerly sold at before they were in demand for
banking purposes.
The annexed official statement exhibits the value
Of domestic manufactured cotton goods exported
from the United States during the year ending June
&c. 1862, distinguishing the destination and extent
Of shipments to each country
DOMESTIC COTTON GooDs EXPORTED FROM rHR UNITED SrA1rs
YEAR KtDlNG JUNE 30, 1852.