The daily union. [volume] (Washington [D.C.]) 1845-1857, 1854-01-19
COMMERCIAL.
From our Commercial Correspondent.
NV Yoar, January 10. 1854

NV foEE, January 40. 1914
The per Europa from Liverpool has been consider
ed favorable for commercial Interests and The money
market Of London evidently easy. The lowest
point OF bullion in the Bank November %, when Il
stood fI4 1884 o25 Al the last date December a. it
stood ELS lbs a55-a rise of f7Si 900 la weeks in
the issue department and Of f 300 600 la the
hand Money therefore easy q. Al per cent
la London. In France twas abundant per The
prices Of and demand Tor, food continued active well
in England the continent bur the average is gene
ally higher the continent than In England not siand
ing the high prices which rule, "a for wheat The
harvest OF the coming year Will probably be late, and
much dissatisfaction prevails the small supplies derived
from this side OF the water but The low state Of the rivers
IN the interior 10 have combined with the dsposi
ton hold, stocks the sesboad low, and
prices ale al such points here should be profitable
10 farmers The rise in indicates substitution of
food which lead TO great decrease in the demand for
wheat causing utimase loss TO those who hold obsti
naiey The want OF in the interior has been
cause OF complaint and in degree small supplies OF
produce have been charged 10 that Mswsy has doubt
been dear during the past few months, while capital
nas been very abusdaat. The public mind con-
tnuaiy confused in relation the distinction between
the two-he thar many OF tbs daily papers
have INCREASINGLY pointed the rise 10 the value
indication of exhaustion OF similar thar
which occurred In lS3637 In that former period the CAP
ITAL OF the country had been consumed by persons
had produced equivalent The provisions The fuel the
clothing, every thing of which capital consists had been
used up alarming extent credit, and what little
capital remained in the country the shape money
10 wheat other articles
not the case all those commodities which make up float
ing cspitastocks Of goods in all their varieties pro-
duce cotton, breadstuhs provisions. &cexist In great
abundance, money being the shape in which il most
Notwithstanding that the MATERIAL gold OF which
money may be manufactured, has been produced in
greater quantities than There great dema nd for
railroad on and the material Of which made pig on
great supply There are however machines 10
thar pig iron into the shape in which railroads
useit California has New York in four wears
SIS 600 OF pig god. and money in immense demand
there sufficient machines that pig
gold into the shape in which be used by bic
az money. You cannot pig oil iron and YOU
buy barrel Of -four with pig ingot Of gold
There be mandatory, in which the gold may be
melted and formed into pieces of weight and
fneness with the value for that quantity Of gold
legiby marked upon il, Ia this shape il the money
every merchant who buys barrel Of hour piece
goods promises in his Of hand deliver the seller
| in sixty ninety DAYS, as the case may be.
The capital OF California and Australia were mines and
labor. Thefwo produce gold bullion, which in The early
stage of both countries had fulfil obectsvix 10
supply capital the shape of provisons Clothes houses,
CATTLE Tools and every conceivable article necessary TO
maintain the labor Of the mines for all these articles gold
exchangedand, in addition. there being no money
factories either place, the required ported
with other commodities IN exchange for the gold, all other
articles except The money were consumed The demand
for money ceased enough had been procured to
supply the OF circulation. This in both countries
be mpished, and the money aerial of both
countries will flow forth freely supply other coun-
tries with larger share Of the metallic basis The de-
postes Of gold the United States mint Philadelphia for
live years ending December 81, 1853, were
Casi IN sao ingots. slsl sas $50
p.,.,.. %, ~. a.