The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-23

that We have LEN ont hat peod It being indie % ad.
ent Of tho usual course Of trade. Califora has
been large consumer Of forsiga manufactures,
the consumption coming up 20 suddenly and being
carried at once 50 far bcyoad our usual means OF
payment that tho staple produc. Of that State was
the only source Of liquidation, ard Tor time 1t be-
came much staple export Is cotton or corn from
the Atlantic ports Of the country. Tho shipments
of specie have therefore beea carried to IN ardcia
unnatural extent, and it may be some years be-
fore II will be confined to the legitimate operations
OF commerce. The table given above we prepared
for the purpose of showing that low tariffs have not
quite ruined the country. Under sixteen years or
low tariffs we imported upwards OF eighty millions
Of specie, and exported only about twenty three
millions; while under ten years Of high tariffs, We
imported only twenty-five and half millions of
specie. and exported about sixteen millions.
The National Intdiigeneer gives the annexed alb
stract of the provisions Of the bill to suppress the
circulation Of small notes in the District of Colum
ba, which has finally passed both houses Of Con
gTees, and will become law a. soon q il receives
the signature 81 the President
The bill enacts that from and after the Rrst
day Of November next, no ''person persons,
body polite or corporate. within the District Of
So .m n .n snan maze emit. issue atser ssn
any instrument Of writing, for the payment delve
~ Of money, other valuable thing Of less amount
than five dollars to be used paper currency,
circulating medium, either money in lieu Of money
or Of other currency and that every person. and
corporate offending shall forfeit and pay the sum Of
ten dollars for each and every offence hall to the
use Of any person who shall sue therefor, and the other
Tho bill also makes it unlawful for any person per-
sons body polite or corporate to pass, or offer to
any instrument in writing Of less denomination
amount than five dollars either money in lieu Of
money or Of any other and and person
five nor more than ten dollars for every such
one half to the Of the who shall therefor
and the other half to the use of the county.
Other provisions of the bill impose further penalties
for violation Of the law In every case where any per-
son or body corporate shall refuse to redeem such is
imposed: all contracts founded upon small note
rency illegal and void and mode prescribed for
FORGETTING the license of any merchant trader who
shall receive circulate notes under the denomination
Of Ave dollars.
The District Of Columbia is NO longer neutral
ground for shinplaster financiers, driven out Of
Maryland and Virginia by the small bill law of those
States, to establish their banks upon. It is with
pleasure We notice the adoption in State after
State Of the bill prohib ing the circulation Of bills
under the denomination Of five dollars, and we
trust it will receive, during the present winter, tho
attention of Legislatures Of States where the paper
currency has become ruinousy deprecated by the
numerous bank failures Of the past three months.
Nothing strikes so directly at the root Of all the
evils growing out Of an expanded paper currency
as prohibitory act of the kind referred to.
The annexed statement exhibits the quantity and
value of foreign dry goods entered at this port for
consumption, for warehouse, and also the withdraw
ais from warehouse, during the week ending and
including Thursday, Dec. 81, 1854.