The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-10-25

The Credit Foncer advances real estate in the depart
ents and its bonds outstanding The Credit Aobiisr
issues its bonds multitude of different specuat
prses, all of which, in with railway and other
pane comprise vast aggregate of credits that
threatened by the state the money market The Credit Mo5
has already been enoned restrain its operations and its
shares fall rapidly That institution well the Bank
France other leading banks has been compelled gold
the make In fact when the France
and England sounded the note Of alarm by raising the
of interest the former to and the latter to s. per cent all
prudent bankers throughout Europe Immediately began
curta obligations and increase the Of specie
mand The absorption from this source, well bread
and for the war; has important influence upon the
supply of the METALS and the contingency of suspension
specie it is crcumspecty expressed
removal from the bank OF its obligation to meet demands
in specie or in other words repeat measure of the
18th March, ls4s The effect of the revolution
active demand for cash the bank and at the
1t to disappear from circulation. The in
bank had fallen to francs without much prospect
of diminished demands 70 francs atured at
the bank only AZ 900 received in specie while every
partmen of the government required cash. The govern
ent therefore, forbade the bank pay out specie legal
lied its notes tender and permitted it to issue
denominations low $780, but limited aggregate issues
$3.50 900 for the Paris Bank and 02 900
the branches that to so per cent OF the circulation
The result not injurious to trade since the limit of
the circulation well maintained until the resumption took
place. There had been at that tme however, paper
panon all equal that which exists which
not be supported in face of continued drain. There u.s.
however, in those circumstances If socude for
American interests since Of the difficulties there
to find for American purchasers of grain At the
former period the political CONFUSION which caused the
pension also destroyed business and the low prices which
goods offered for cash attracted silver France
large sums not however, to circulate until business
Under present circumstances it would to be the
large exports breadstu France sale in specie
would rise in gold compared with suspended pa
per. 1t does appear that hank anspsnsian in Franco
would carry with it that of the Bank of England
the other hand would probably lessen the strain upon
that institution 1t apparent that within the last
seven years great progress he's been made in the
Of paper credits in France, well as in the removal
of restrictions upon commerce and it by
tain that government has not in view pa
per money national in the present war;
much debtor productive class would at first
experience great relief through the action of paper money
II may be useful in the face of the possible contingency of
suspension in Paris to turn to the specie follow
ing the suspension Of ls4S Property in France then
not available; bills Paris could not be sold, and goods
could be bought then very low for casthe government
in order encourage exports allowing 10 per cent draw
back upon exports. 1t followed that coins commanded
premium in New York, and shipped, follows:
Specie Exported s45 France and England NTH
Sterling and Prices Of Coins IN Neg York.
Prices nf coin.