The daily union. [volume] (Washington [D.C.]) 1845-1857, 1854-02-02
COM MERCIAL.
From our Commercial Correspondent.


From our Commercial Correspondent.
NKw YoRK, January 81. 1854
The general state the money is that of ncreas
Ing sass, consequent upoA the
10 same tune there Is little disposition the part Of
capitalists and habitual lenders to with fund. GU,
their own control for length of time, in consequence
Of the stats Of European politics. II is no doubt the
that The actual wealth. available capital and financial
Independence Of the United States greater now than
tbs ever before In their history but the lesson by
disasters OF former prompt caution in view
Of snch widespread CONFUSION Europe may
develop Tho OF affairs in relation TO the foreign
commerce. justly stated in the annual report the Score
tary Of the Treasury. that rather OF balance due the
co0nny than Of outstanding claims TO be The con.
tnuod fall Of the exchanges, and diminished export of
specie, In face Of rate for money high per cent in
London practical evidences that The estimate of the
Secretary In relation TO the OF exterior com
correct An outstanding debt, which
tAs New York Courier, and other whig papers
landed estimate existing in of the 100
low range of tho tariff would have failed TO develop
itself In time OF high price for money London for
mercial purposes An increased demand exchange for
Ysmisanccs the money market moro easy here
would. inxsmuch the cotton crop backward have
impelisd greater export OF specie. Such however is
the Sterling bills range 81 against 81 a,
tho same time last year. with less etflux of specie
The chances are however multi ply ing and the eff
feet which actual hostes may have exchanges is the
point Of iey The crops Of England and Europe are
much more denclent than the earlier
and ths United Staies relied upon for supplies
than before The whole export Of wheat and -four
In the famine year-lst67-was equal % 400 600 bushels
OF whsa-say one-ionrh Of the crop per From
August to February this year, there have been ported
HWOoO bushels. being three times much as for the
corresponding period of Is46 February ls47 -four in
New York was 81 So it is SO So Indian corr has
sen 70 liO cents The accounts agree pretty gene rally
that between and harvest the of England and
western Europe will be than for lS47 nvoving
very large exports OF all kinds OF food Tie comp
cation Of affairs 10 in degree from what
was in the former period because during scarcity here
was profound political quiet and the proceeds pro-
ducs came back In pece TO the of 2 This
large arrival Of SPECIE usual promoted the expansion
the banks and the import of goods in the follow ng year
lsaa whom political disturbances occurred 10 dsub ex
change. IL true that the short crops had the
consumption Of abrics but the better part of s47
time Of renewed activity, and business was getting active
In January and February, 1913, when revolution burst
like avalanche, destroying values and trade
The desire TO and hoard money universal
the unltod States were about the only market for SALE La
thai rear nearly specie was 10 buy
the cheap goods Of Eufope-,ha is say the specie re-
ceivsd Ia lSS1 Tor corn back in 5S by cheap
goods Capital flowed from Europe England for in
vssnsnt aud United States stocks IS December
lS7 10 f0 December, lSlS while increased emigration
sent Large sums oil capital h,her in individual hands
Tho wants OF icod are now least large 1871 But
the want accompanied by political dsquie The riss in
bread checks the of fabrics but the ma nulee
tursss have had long ioebodngs Of the war; and time to
mats the effect of deficit hsrvrs The they must buv
and The goods they sell will be low This operates douby
In vor Of the United States The products of European
labor viii be had Tor less while those of
VIII command more. IL when -four was 81 French .t.
could be had for 81, say four yards for barrel and
II iai 10 70 cents under the desire TO sell when Gour ia
men 'he American farmer gets twelve yards for bar
rel Of nonrthree lines the quantity This TO be tl
mode, not In the degree in which the ont effects az
and famine may operate upon Americas interests II 4
aso me case mat as gold exporter large OF gold
'honld 80 early 10 Europe but in consequence of .endpg
sxtn quantities OF breadstuG that gold may be
here - equivalent to an i'm port Of H.
In io The utiops that ad through Europe wer
20 unexPected and the fears OF anarchy suddenly avs
kened that however much men might have desired 10 sen
'hess funds out OF the county, they had time to realize
and properly did not its elasticity until n. bo,
rallied around the President in his corp o<iat Il,
threatened war; that ruler counter to the
he then sustained, and the opportunity serving capi,
may emgrale freely, and country presents such 80
and credit that which is redeemn ing Il, own
"a premium. OK al
The large spring mporstions alre adv made
srabe extent consignments Of goods that 49,
r. rr..s D GU On oy 'oe s,egua,iop in trade
'u@psion OF goods, and hhcr .oo.,,.a, n - 20 ~
menss which may find br ve,. m rongb N. ,o ,;o
The JONI ~ "' anime will then probably cause an
excnae large quantities ofEuropean goods for com
psrauve" mali quantities Of American produce The
coon" debt and the good stocks held abroad will
lightly DO parted with in exchange for such precariou,
fnves,mens Starving and fighting Europe may offer
The English Investments In continental railroads continue
large The "csls" for January 81 Of which
Il 2i2 300 for Europe The security and prosperity
Of the American roads far attractive than those
In the present state Of affairs.
The large sales of produce western account are caus
ing accommodation Of money in tho city banks the
epostes OF which increase faster that their loans. bnt the
speoie is Influenced by the ssse payments for duties A.
compared with the August etnrns, the present state Of
discount II NJ follows,
Loans Hpcce Circulation. Deposie.
August Ia COS ,s62277 oos5t6is S9,t5oB Ssslss IN.
Jshsasy ~. Ss,7;9,+65 llll7,a5s o,5t26T Ss,2s9
Decrease 5,p7,5l2
Issrs~s 1896