The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-06-16

istalments on railways For the week Gliding the sist,
me arrivals In london were f23 00o by the Asia. from
New York, and Il OF 900 Gom Australia. The exports
were OF silver 10 Belgium and East Indies via Egypbu
lion altogether about E3i00O0 The fact that there
considerable denand Tor grain in London for Continental
use was regarded the Of checking the export Of
coin thilher The produce of the Australian mines la 1852
according the detailed Of Nh khu bullion
broker OF Misfortune, lT3 tons ~ cwtt a. IL lbs. OF
equal 70s per Ga, 1863. 36i This statement,
compared with the deposites OF gold the United States
minis for 1852, gives the iollowing
Au.,rai. 4Sa.ooi 81 ss1ssaiH s5so6I6o
Total lo3a,,.- IL, iO $50 2,i2i,fa
The Melbourne Argus siscs that Mr. Hhuils estimate 10
much under the TRUTH and must be 30 from the known
anxiety of the advertisers conceal the amounts they had
with them. and Is moreover proie ssedy exclusive Of the
aionts In hs hands Of shopheepers, dsgers aid others
The production cannot be under 3lSO 900 900 pei aum
and if its Influences countcaced by the demand Tor
money and rising values Tor the present. the large sup
ss OF coin hn te hbetto saponed the expectations OF
most spectators. Gold has fallen oil in abundance
nor have prices shown anything like the rapid rise which
the theory OF the depreciation OF gold led many TO ex
pec As in the above figures, there has been moth
ing In the business ,i the past season check the
upwatd lehaency yet the results have satisfied all
The season aas been marked by three extraordinary
features Isl, the large excess in the receipts OF gold
over the exports sl large iporations OF goods which
have sold Quickly and well. 81, largo supplies OF pro
duce from the Interior which have in the whole proved
very uupToUaDe 10 dealers Manulactufed goods nave
been demand and prices have .en, have vaiues
OF most property Produce has sold largely but prices have
fallen The losses incurred by this fall in prices have fall
en- mostly upon commercial capital The producers were
for the part well paid for their last yeasproducons
This anomalous state of sffsrs has disappointed many
who looked Tor general rise ia msst prices ana many
spcen usns, based iosty on this view have Jailed dsa
trousy. These circumstances may have arieen mainly
from two prominent viz railroad expenditure and
immigration, both OF which have conspcd promote
unusual demand for goods and ALEC enhsnce the snp
plies OF produce Tho railroad expenditure FOR the past
year not less than $50 900 000 OF which consider
able proportion paid for labor in tie fertile
districts Of virgin soil The Illinois Central railroad alone
employed average eight thousand men, involving the
expenditure OF as many thousand dollars per day. and
throughout the West every dollar spent purpose
INCREASED the facilities Tor sending down produce and tho
demand for goods in return.
The numbers OF immigrants have been for the five and
half years ending with May, l69oli6 souls into the Uni
ted Staieslhat is to say, fourth Of the io population
Leiand Ter of 1851 OF these grants $40 234
arrived the pert OF New York. and the remainder a,
other ports In the last yeat one-,hd OF the whole
Germans and onehlrd Irish. The great joriy OF ali
these people pass directly ose the public works the
etn lands where the sums Of money they bring with them
applied directly the purchase OF NECESSARY at,eles
At the lowest emste OF $50 per head in properly brought
by them into the country there has been added the
cnal wealth in the last five and half years SS5 600 000
OF which S66 900 600 has passed through New York The
number who arrived last year 100000, more
thar equal the population OF the State OF Connecticut
Maryland New Jersey These people brought at least
$40 0d which formed the basis for larger demand
Tor good, which enhanced through the the
West Of California adventures Is it, them any wonder
the demand for goods domestic as well as imported was
large On the other hand, OF and thrcequater millions
who have arrived since 1911, al least million now
growers aad sellers OF food, while the of transport
have been decreasing the OF delivery 1.-The labor of
200 600 In California since 1871 has deprecated The
price of gold, what effect would the labor OF 900 900
the virgin soil OF the West have upon the price of agdcu
.uE 4.
so is farm produce had for less labor at the West
1t Is also worthy that the habits oil the people, par
,cusfly the Germans, undergo shsngc their arrival
here, Thcy ongef the seideuylng, boarding
which circumstances have made them home, and to
which fact may be sscrbed portion OF their distress
The prosperity of people depends upon their ability
their labor account and unless the objects OF labor
diversified there can be general success Throughout
Germany the sole object OF all industry seemed be to OBJ
tain and hoard moncy-specie. The desire Tor wealth, In
the shape al coin only, universal IL followed that
nothing that could be dispensed with Purchased The
houses OF those possessed oil fIuch wealth presented no
evidences Of than those Of the poorest Neither
wealth bestowed upon manners education, any Of the
numerous channels for here absorb such
large sums. IL follows that, inasmuch as the purcha-
sers Of manufactured articles small 20 was all
Industry confined the production Of such Necessary
articles could be sold The range Of employment
very limited, daily decreasing, and the general
mpoysrshment resn ed III migration. This boarding.
propensity Is one Of tho chief evils resulting from the
'Ohk "hs uttuhCtcu thtr OF society, and oppressive
avs Ia relation to property and Is progressive In its mis-
chief The money Of society in circulation constantly
diminish In such state OF things Ii becomes continual Nv
more difficult 10 obtain the reward for industry
and the ability TO obtain anything hoard becomes less
The appreciation of The precious metals some years hs
been greatly Influenced by th, Of tfaiu. Ia this
county the demand br articles OF kccps
pace with the means Of tho buyer consequently industry
ods ample employment in every possible branch The new
comer fall into the customs and enhance the demand for
The products Of The general indlsry. The mill on of i'm
migrants who have arrived within four years have prob
ably consumed goods since their arrival than they
did in ten years previously The money they obtain is
now circulated rather Than ho1rded That which they
bring 18th them goes back whence IL came through the
hand cf New York bullion Dealers reaches the lin, in
exchange for double eagles which 20 abroad and sa
among those preparing TO migrate hishcr.
1t Observable at once that the numbers aud
of these immigrants quito sufficient for the
increased importation Of goods that has taken place. ard
also for the continued depression in produce II an
also, that should be lost sight OF in estimating
probable production any article with view to spec
NATION. In these circumstances have an element of
trade that has not been duly considered.
Money in New York is had freely ut five and sir per
cent but the demand for il Is good The rates exchange
continue about ~ ei and ihoe figures In can
be shipped by the iadng houses who do
sons The arrivals Of gold last week 81 26s 5zi and
this week. per liuoit ST III 20o-maklog together
800 12 against export last week OF 1921 l22 and Ibis
week probably sj0e,opo
The aspect Of Affairs abroad IL that demand for pro-
duce will the year progesses Flour quicker