The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-25
Talk on Change.

The news received from California by the Northern
Light was considered more favorable in q commercial
point of view. Provisions had improved, and -four was
in better demand. Ike mining news was also, in the az
eregate, considered good. Cotton, as well as -four, was
Inactive 10 this market yesterday. Merchants we're
awaiting the receipt Of private letters by the Niagara.
Wheat was in demand at full prices, while corn was un.
changed.
The ~propriety of the Merchants Exchange being pur-
chased by the government for a custom house, vas re.
fe,red to. The present building With the ground, cost
class Of frst mortgage bonds, and purAaGed by a com-
pany who held The second class of basis. The building
cost the present company about one million Of dollars
for which pev stock was issued, which sells in the mar
ket at about Io7. The lst contacted about ninety
stockholders, mostly men Of capital. 1t was believed
that the government would have no hesitation in payi ing
the present company the sam IL cost them, including the
premium Of sevsn per cent; but it was understood that
tie company would got be willing to sell out for lass
than about one and q half millions. II was argued that
it would be quite cheap to The government at this price.
The ground On which the building stood vas worth q
million OF collars. The present Custom House was en-
tirely too small. Its tub Of a rotunda was daily over
crowded. and the atmosphere rendered impure by the
respiration Of such a jam Of persons, including the Off.
GERS, and those waiting their turn to do business. The
government should be measnrably compelled to provide
larger accommodations, or the pubic business would be-
come greatly retarded, TO the injury of the merch ants.
The Exchange was central, and, next TO the United
States Capitol, contained the la gest rotundas TO be found
on The continent, and in point of beauty Of proportions
II excelled that also. 1t would comfortably hold over
one Thousand persons at q time, and afford ample accom-
modstions for all government purposes. 1t was FIRE.
proof throughout. The uDde- rooms would afford excel.
lent fscilities for the storage OF goods. IL would cost the
govern meDt less 20 bpy II than Il would to build a new
Custom House equally central and convenient.
a merchant wished to know what had become Of the
steamboat law passed BY Cosgress. There appeared to be
still about the average number ~ steamboat accidents.
The railroad Law, If passed, unless faithfully executed,
would 90 but little good. Laws, however uropor, would prove
worthlss ~ unless ricidly enforced. The difficulty IA fran.
ing laws TO meet accidents occurring On steanboats and
railroads crosse from the completely r be subject. Lava,
to.haye a direct bearing, ought 70 be ns simole and as
practicable as possible. Practical men, conversant with
the Details Of the subject, should be consulted in forming
them.
IL was stated that Mr.. Walker. though eminent az
lawyer was not a commercial man. aDd however we'll
fitted be might be generally, as a diplomatist, for the
China mission, he would lose nothing we're he TO visit
Boston and Salem, and consult with some old and expert
enced China merchants in those places, aud especially
with Mr.. Gushing, in the vicinity NJ Boston. Some few
merchants In New York might aI-o ne able 10 give hin
some useful hints regarding his mission.