The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-03-31
United States and English coinage.
ITntted Htataa En.l..
Total. -7,794,W7

Ii hence appears that the British minis in Tho last two
years have coined El8O 900 god and E3 600 0oO
appears above, have left the bank in the same time
showing fl6 O0O nearly $50 600 Of British gold
coins that have gone into general circulation England
Australia and elsewhere The paper currency England
has ia the time increased FL 600 900, including
the Scotch and Irish banks is to be that al.
though the English mint has turned out larger amounts
than in former years. the supply does equal the de-
mand Tor circulation.
The demand for for circulation, both in the United
States and Great Britain has absorbed large
gold, and for generally borne in mind 1t
vous that where the quantities OF industrial prod
much increased and their money values also
that the money required to interchange them increases
two-fold proportion Thus, 1000 bales Of S3n
represented by 900 OF gold, say 1000 ounces 500
bales $40 require $4,000 Of money, 900
gold Throughout the world production of commodi-
ties has been Increasing in volume, and rise in prices
cribed to the depreciation in god has taken place fol-
lows therefore, that the increase the supply of gold pro-
duces reaction which holds the depreciation In check
like the reaction which offers vessel propelled
certain speed. This demand for currency trans
given business is, however, greatly modified by
rapidly of circulation, activity OF markets. and facility OF
communication Nevertheless increasing production and
higher prices demand currency. This currency has
been supplied in the United States very considerable
extent, as we shall see.
We take from official sources all the gold Of United State.
origin which has passed through the United States mint
the discovery in California This gives the domestic
supply We take the official record of imports from
foreign countries This gives the foreign supply and the
make the total as far official records give them
If from the aggregate deduct all the exports have
the balance remaining in the country-thus.
United States gold mats, ls4s to 1852. $751; 90
Imports OF specie 2sa6, AS
export. from Ii. United State.
Excess Of supply ss7s5 81
This has been the increase OF coin in the country. We
may take the bank circulation of the leading
Safes whose full. follows January 1858
Specie and circulation Of the bank, Of States
Specie ..............., a5,sS,oso 5ss94a io,oias
Circulation ........."~ g,US2n l4o4e3,1o 43,0o,3a
The above supply Of coins, amounting to 8s4 1856 339
hands OF Immigrants, and entered officially upor
the custom house book. The amounts which so arrive
a, least the coin which seeks California by EN-
gran,s OF the Increase in coin, shown officially the
banks IL appears, have S003,3i6 leaving 874 772 ON
gone into circulation which, added the $40 379 1886
increased paper money gives Sis of inorea
currency ia the United States rather than the
crease of Epgand's currency, paper and coin. Nowith
standing this increased supply Of money, the demand for
and rate interest for Its higher than wher
the amount In both countries much less This fac
indicates the extent of the demand which has grown
large productions OF various commodities, which have
been the hands OF dealers la exchange
promises TO pay money
The maturity OF obligations has tghiened the
ks TO some extent but the stocks of commodities held
large and eItavsgant prices here Hence the
nued activity OF the demand for consumption tends
ssed abundance Of money In articles, indeed
In which excessive speculation INDUCED last fa tn,
decline In price, been large Take pork for instance
which wa sold In November deliver in pri
and May arthe then prices. We pare prices ans
then