The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-03-08

With the exception Of the two rsnamed suspended
the banks Of Europe pretty strong and with in
creang flow Of specie The state Of affairs in France i'm
pes this Of things namueh that the state Of uspen
sion in Austria and Russia although it would in Of
commercial countries, the metals flow out yet with
them it, under the circumstances promotes boarding. where
Vienna the value u silver compared with the gov
eminent paper money varies 80 per cent twelve months
Ii wen becomes all debtors hoard the metals order to
avail themselves Of these fluctuations Silver thus becomes
the most speculative article. Austria forward
for loan Of $50 0o0 and nasmuch that France gets
all she wants within herself Rstria has larger field
draw from in the open market The Austrian debt when the
broke out o25 I'll SIS fornssay 500 million dol
lars She has since largely increased Der debt the bank
and her domestic debt She could not increase her foreign
debt until she obtained, BY her alliance with the
powers the guarantee Of England The
Of carrying the win work WEI in q commercial
country like England France. But under military des
potisms they only encouragement production
rapidly iuporsrish The system Of ievying
kind is the injurious Of all since VIII produce
that which he retain AID where there has been
general system Of credit operations in trade the action Of
paper money upon prices is not in favor Of labor 1t is
somewhat remarkable that simultaneously with the dscov
cry Of gold such events the Chinese war the revolutions
in Europe successive general dearh and the long pending
struggle for the possession Of Constannope should
spre active demand for the precious metals
that they abundant apparently after the dev-
cry Of FIVE hundred millions from Mines than before
IN Is4s the gold in Europe and America computed
$500 900, and hundred MILLION has been
rived from the minessay ls per oeutand gold aearer
than bssore compared With silver Thus 1850 the
German commission at Augsburg showed gold to be
Ia 155leoo of silver In Isle the English coinage bin fixed
at l42s7 In January, Is55, the price Of fine gold
Hamburg 423 mark banco which gives ! a 1874 In
London in January, gold g Ia. 3d. and bar silver
5s lSsd- per ounce which gives I5-005. Now in Lon
don gold il x per cent dearer, compared with silver
than il 1885, and silver is IL per dearer than
in May, ls42. In ISL, during the 'gold panic" that
metal fell to 40 mark banoo. In Portugal the law
altered to valne gold at ] q 1919. The conse-
qnence has been the disappearance or silver During
the last few years the market valns Of silver in India
and China has been lhat is saw in China IL pounds
Of silver would buy much pound Of gold in Portugal
i61 pounds Of silver would only the end In
France, this moment, l5 pounds Of silver win buy AZ
much pound Of gold. This adjustment Of silver to rud
in the markets has been nterfered with by political dcu
e and may be inferred that the peace great
changes viii take place. With the restoration Of confidence
those large of gold wfch after driving out silver To
the Asatc demand and extent that Of Aus
ta sank into the private boards o the o. Europe
rsaPpear with Car greater rapdy than they were dis
bursed and the great reservoirs Of money Europe may
find their specie accommodating in gold The steady
demand for that metal which has maintained it, value has
conferred wealth California Ii evident that consd-
cradle portion u the demand tor gold has from the
continued high prices q an ood spite Of large crops send
ing hands farmers Europe England As well
tins country, what In ordinary years would be two
YEAR, for the food u Europe fall in prirs
which be looked Cor % extent with the
Tess would q itself equal two years production 81 gold In
is effects upon exchanges and the value of money.
The rate of ntsrest in New York eoutnnes EASY and
money being dearer here than London bankers ne not
disposed drsg than will pay prut The suprlv 81
bills against stocks eDtton, and food i smaller than last year
and California supplies the substitute The rate 81 bills sr
the steamer 81 "Wednesday has been ~ 80 The Car-
brugght sGaes00 There vas no direct EXPORT *
specie hence although s52s 600 TO Boston
htowss