The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-11-17


has been subding The change in the bank returns !. a.
folo~si
ss~ Yors Guy Baa1I
os.oss, 1sss Iss.s css,.ass pss s
No.. "a "a $500 lsssss ssss s Sc Sc
To and half millions paid into bank the ar-
Poses subsidized nearly siK millions; since then banks
have nearly discounted their receipts but the deposies
have accumulated aud seeking investment and
confidence slowly increases, sidst the din kept up by
bear spectators and the hows OF their organ the Herald
The rate Of money falls The same state Of things
sis 10 London where the accumulation OF private
has borne down the Of money below the bank mini
mum. and the sncipstions that she would the
per cent were not up November realized This
dicaies cessation in the shipments Of Specie which,
extent have been caused BY The high price Of money
in London.
The bank rate Of money in London in 80 days,
September a. from TO cent and doors
sui higher, causing The private securities bank
TO from El2 900 f9 i2AO00 Is
cent IN face OF the higher charged by the bank In
the month Of October affairs threatening and
rice 10 cent the part OF the bank looked for
simultaneously with this OF affairs London the
OF produce from New York large noawit
standing the large Imports OF goods. the supply Of bills
been IN excess OF demand The fever in New Orleans
tarded cotton bis but the general supply In this
was that Notwithstanding efforts discred pro-
duce bills. bankers rates have fallen 20 MT g SD
which Win allow OF no profit specie bills, and good pro-
dnce bills be had - The export eagles under
IS Ice I'd per ounce, gives exchange Of 81 81 and
when the specie shipped and the bills sold thar
rate, the question ariseswhy The OF this port
September have ruled under 10 per cent money in
London at per cent Ia the period last year
money was in London IA per cent5ls here 100 Ios
ceniiha is 10 say, when bills per CHER
Than this year no specie was shipped when the Less
rate this year. several millions have been shipped.
Rate Of DH. and Cold sa'ps1is from sss Fesfor October.
1852. 1853
Raie sterling ................-..-.lox loS 81 10
EaSon mu srsei ,n London osa ssolss
The rise OF money in London has evidently more TO do
with the matter than the actual cost Of shipments In 1885,
when the Uni.ed States Bank shor Of money Lon
don Geld millions Of sterling and French bills in this
market al loss and shipped the proceeds IN specie to
Lon6on The may be adopted in the present
state of The market apparent loss but real profit
house credit sell I'll 600 in 69day bills al
81 investing the proceeds 10 double eagles these will be
cash in London As days before i,s bills fail due,
which fresh sses Of bills viii psce funds II money
worth per cent in London or per month,
loss oil per the specie shipment Will place
funds IS days OF per per annnm per
less than the bank OF money. A, the lime
she bills drawn against produce multiplying
kei that The rates threaten TO fail
replace ibe hrss sales al rae Of II The
shipper specie has then eiofe Ia. of New York money
in London l per less han bank rate there
and may bring back at profit Of ii per Tie
prospect oil large exports OF prodace similar those
Of lssS Ia the spring OF The latter year exchange e
into tns county, which aided enbarrass the Eug.sh
bank The chances this year thar he supply bills
viii be equally great and If The OF money should fail
IN London, who sold November "a 100000 ma
London January s. may have tze OF specie
there and remit pfoGace bills be discounted lower
Of money his bids mafuring IL cissri
interest OF houses disposed operate manner
that produce bills should enjoy very good credit and
the public should prefer bankers names Much of the spe
Gle thai Europe thus English The
fact portion OF the specie proceeds OF
United States sock redeemed the federal treasury does
affect the exchange operation
This process OF money in London has pro-
dnced desired result md discounts bank
declined SIC ooo. 900 weeks money
could be bad on better terms from private houses.
The f~srs an relation TO the harvest have sub
sided. TIE continued Their, which the
OF the short w op-rzie, s feared
with greater upon the crop. The Marx Lane
Express Of the latest date thai The crop Of Engand
and France fogrheI is o~shuG shorr, while Tie
promises be late and poor The Baltic stocks
AIRY exhausted and the pers threaten of
Back hence prices may continue high throu shoui
the year. Thin high price Of food WILL however. be
con panied by the that enhanced The disss
Of The last famine in Engand. and the demand for
American produce ~ii IN all probability be large and well
sustained
The check which has been given railway borrox ing
very sanitary IN its efieets-Dore particularly thar viii
induce hencs,orth rigid scrutiny into the character
Of that ask for The unsvals-
bity Of bends IN The hands Of lenders during such
geney through which have passed wiz prove
lasting lesson and prevent the isodneton Of
nevertheless the rapid accumulation OF capital the
country will existing securities be absorbed
without difficulty, and the amount ia anal The
c.nsas give the number Of miles in operation
Jsnusy l. 1851, lo.ss. costing $57l77oo 90, $4,000
per They also The number in operation In ls53
a. follows
sae.. Cost Nile. Cost