The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-05-17
COM NJ ERCIAL.
son QUIZ coMaERoIAL CORRESPONDENT

,Rou OUR COMMERCIAL CORRESPONDENT
Nrw YoRT, May is, 1855
v ths past week there has been continuance Of the
o,e,nent from the interior of the country via New
"a Europe but the amount in the city increase
han otherwise. That the interior has no produce
"a The present high and rising prices Of food afford
,sspee and as payments due the amount comes In
mart Of v hieh goes abroad. The arrivals from Cali
have this week been larger, rather exceeding the
The course Of exchanges last year showed that while
cgrnia receipts exceeded the exports, from January
i middle Of May by nearly $40 600 900. the Of
IN bank not only did not increase, but, on the other
diminished. The absorption OF cash by the country
- Great 10 consequences of the high prices which pro
commanded and the quantities that had been down.
r the prices are still higher, bat there is 10
uptl harvest shall have supplied now quantities. The
NOW entertained that the late fall and winter trade
= very large despite the continuance ofthe in Eu
The governments Of France and England win andonbt
,,ouire new and large loans and the great banking
= viii fory themselves with specie TO meet the govern
seuisitions For this purpose they have already
"a IN coin the funds which usually employed here.
e,pita Of Euro and England used here floating
IN, has boen taEtly reduced consequently the flu
arans Of specie from this cause must be less
4 an the other hand there is growing disposition to
eapita here Tor safety That taxes will be ndispensa
not 10 be ioubted indeed, war taxes have al
been imposed in England but mostly articles OF con-
loion Capital has not been compelled directly TO bear
wisely perhaps, since II Is already disposed
|grae 20 this country escape future taxes. During
wars Of Napoleon capital sought England from 1er-
and France for safer investments Than II was supposed
be procured home, and that capital Mr.. Porter, in
Progress OF the Nation states great aid TO the
i,h government in its loans The United States at that
dd not nation of high credit 1t does now,
IA. even in time OF peace attracted very large for
tnent aud ii presents Opportunity for investment
|euries which have in the last years become widely
vu upon the continent through the agency Of the
banking houses with German and French come xons
have bsen started 1t is reasonable therefore, to sup
ths when capital in the beligeren, nations begins TO
the weight of war burdens, it will flow in increasing
me 10 this side OF the Atlantic. The continuance of
involves the sale OF larger quantities of brcadsus
apa and Europe Even in peace the demands upon the
Lied States have been large but with extended
rope the taking of laborers from agricultural employment
~ sane time that grain countries devastated adds
the demands upon American Of supply These
likely to be very large. Prices have been at nordi-
rates now ior than eighteen months. Stocks are
,ued and every effort has been made to get unusual
dh Of land under culture The accounts from the West
L. Ar promise the utmost to their efforts Old
have sought to increase their crops, while the guam
Of land sold settlers, and the number of
M hare arrived have been astonshngly great Great num-
rs Of aborers who last year employed upon the rail-
I,s have gone back farming and the railroads them
s have made these farms and industrial enterprise
,sbe market All these elements if the season
res propitous of an unusually large supply but how
Al oeve may be, it will all find ready markets Mt home
abroad. In the year lSi7 the Of communication
he very limited The Erie canal and the Pennsylvania
n we're the chief channels Of transportation but were
inadequate also the shipping Recently the latter
been much depressed and railroad and canal tolls have de-
bed from want Of produce 20 transport Large crops the
|mng fall attracted by the high prices will pour from
y productive region the railroads into the great
vos mparting activity every branch of transpofta
E and restoring to the shippers portion of that pros
(mY they enjoyed in ls47, when single outward
tight would nearly pay the of construction. Ii
bows matter of course, If farm products large
quantity and high in price, that large credits will
(ue the interior and active business usually
lows such combination, because purchases of goods at
nd the ability These some of the reasons
y good fall business is looked for by of the lead
merchants but although money Is very abundant the
|asic;an apparently sufficiently strong to awaken
astion and there is hardly any improvement from the
Of prices, notwithstanding the small imports and
diminished production. The stocks of goods in the stores are
D large, and holders wisely disposed to hold them
ner than to part with them long credits 1t very
be that the continuance of may goods to come
from Europe very low rates. and this contingency pre-
W rise here for the present 1t would to be the
use that the war will cause United States gold, farm prod
n and securities to sell well at high prices, while the prod
y Of European labor viii lower prices thus
1hancng the national profits in a two-fod manner.
The monetary depression Of business exhibits itself in the
INK returns Of the week, which are as follows
~ la", aes9,ail sls sa5 $50 s9slossa SIS 4os NJ
ny io...... asia4ss is5e5yG26 7,sss,e26 $685. 7Gs
Decrease. i,45o,7si a,3ss,os 1861