The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-01-06

Thus the amount goods put upon market has been
this including FREQ goods, $l34 O52 being the inn
poations for consumption and the Withdrawals from ware
house. against $129 05i time last year. hence the
reduction oil goods in warehouse is very large and also,
is well known, in stores, the close Of tho The
goods which come forward from Europe al higher
prices, caused mainly by the enhanced demand for
sumption there, and there is little chance that decline
will take place in the value OF either materials la
Dor to extent which influences values Of goods The
desire thence derived lay i'm Stocks in order take adj
vantage OF rise in prices has caused country
dealers to buy rather more than usual and small increase
in the stock of each retail in the country
very cons derable aggregate demand from frs, hands
Credit has also been freely used and demand for
capital has therefore resulted
Tho general idea OF increasng prosperity also induces
greater expense In the style living which involves dsas-
ter. failure Of this took place last week. being
that OF in the drygoods jobbng trade whose
ital had been since Sl20 OO aud whose liabilities
are $3.50 GEO. The persons, expenses Of the members
OF the firm given $37 600 for eleven months
times the whole capital in the business These persons
were known as "yery young men, 10 the trade and
were favored by the older houses their supposed ab-
tiles to sell large quantity oil goods This kind OF
ness is generally all the surface and is prevalent
some extent in the dry goods trade, than in others.
1t employed in drumming and when young
men, by hppancy, mPudence and recklessness, impose
upon business far To acquire reputation Tor
smartness," they employed high ''dIum
me as cleksa high salaries, proportional the bnsne
they supposed TO influence in favor oil the mpoyers
and II they can raise small capital to into business,
they receive large credits from persons confident in
"smartness terms which usually the creditor
smart" This feature OF business formerly the
Of much speculation by forcing o goods cheap credits
The older and more udlcous firms have become ous
in the employ Of such means, but firms and young
members prone TO their exercise. Upon the
WHOLE the has been good because much pru.
dence enIoined by the sudden that overlook
the high expcnd lures with which the year 1851 opened
The multi pcaon Of banks tue West very rapid but
these do not influence business in the in which
produced speculation iI former because the city
banksat least the old onesdo repose the conf
dence in them Thus formerly the OF country dealers
taken payable at their local banks These
deposited with the city banks for collection, and remit
ted by them TO the spoudng country institution when
the ma,ured. The country bank would discount
comnodatlon note OF the dealer enable him take
the other On notice OF the payment of this note the city
bank credited the merchant who deposited il for collection
The country bank then owed the city bank the
balance, which itdeieued paying long 1t could iioal-
y could not pay all, and failed The city banks
not likely TO their credits any class Of country
banks consequently all that machinery which substu
corporate for private credit does with the
new banks, which more adapted to the emission OF
for individual shaving than for the general facilities
of trade The receipts and exports specie for the two
1