The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-11-01
20, ,56l SO, 500, O9i
Total

The trade with China which was interrupted by the civil
war; seriously the etriment Of United States cotton goods
has begun revive in degrees and with Australia not
withsandg the disasters that overlook that trade in 1884,
has maintained respectable figure 1855. For the sup
ply ofmanuactues to the countries of the American CONT
nen both the Atlantic and Pacific slopes, well to
other countries bordering the Pacific and Indian oceans the
United States the natural Of supply Step BIZ STEP
all these markets increase in purchasng power must the
ability of the United States to supply them be greater and
in proportion food and products here wrought
into manufactures for the supply Of those countries, must
the export OF produce and materials to England and
Europe decline Commercial events rapidly concen
ratng the trade of the western hemisphere in United
States ports 1t hardly sixty since England ceased
to be exporter OF food Her manufacturing abilities
her agricultural power. As long she found
produce food and materials her manufacturing greatness
prospered The chief of those supplies the United
States is reached and 10 the external com
the manufacturing power has begun gain upon the
agricultural and will convert its surplus into manufactures
for the supply of tropical natious.
great drawback upon the revival of general business
the high price of food caused by excessive expor The
perity of the agricututs draws great numbers indeed
upon the lands of the Vest but it would SEEM
cieny keep down the price food which costly
in spite large crops to absorb the and incomes
of majority OF the persons the Atlantic States The
has ostered this natural tendency by opening
intercourse far diplomatic relations do co. and by
enforcing respecto the flag in those localities where the in
dous articles of British agents have stirred up aninostes
1t would to be the that perseverance in that
policy, with extended removal of restrictions upon
commercial freedom by which may work
advanageousy all that is required for the rapid progress
Of commerce.
The stock market underwent heavy fluctuations during the
past week. from mostly local has been repeatedly
pointed that the city banks do two descriptions OF bust
is the regular banking business by which the de-
postcs of the city dealers received each in the bank
where he keeps his account and from the aggregate
commercial discounted. This is regular business
which would seldom show any uctuatoD, because in od
seasons the deposes of merchants proporoned to
their business and there for sudden withdrawal
all Of them have notes TO pay later and deposite
all be appropriated TO that purpose. The bankstha
Is lending onesdo not however, conine themselves
this business They receive from correspondents in the in
terror funds which they allow interest These funds
subject to call and by the banks loaned out at
call upon stocks The money Is usually borrowed By per-
of of small capital who look for rise in prices.
it obvious that IT, usually the the of these
dcpoic rises from 900 to S2 purchases of
stock the extent SIS 600 to SIS 900 take place.
and prices rise In the fall produce business active
these loans called in and prices fall Those persons with
ability make good the margins stocks they have
pledged for loans obliged to SELL which sale OF itself gives
downward impetus to the market, running others, and
forcing all TO SELL aud panic results. This precisely what
has occurred This week combination of persons, called
the happy family, had purchased largely Of Eric railroad
The Famer Loan Trust called in suddenly 5000 600 that
stock, and whole Of " bricks umbied over, prices
falling 10 Is per cent? and suddenly rising, because the
experienced well informed dealers,
watch progress and extent and buy in when the panic
is at its height II Is obvious that IL Is not beyond
possibility for plan be contsiyed by those who
control institutions by which loans may be called IN
and the nkket convulsed moment oppOrtune TO in
dydual operations 1t formerly established against
the Bank Of England that loans called in put out in
certain directions the interests of the managers for the
time required Sugar iron, cotton any other Important
staple might be materially Affected either avorably other
wise by the course Of the bank So, also may the
gers any corporate company nue its interests in order
that their in its shares may turn out prota
bly, II the officers OF any company cell the stock short,
and then refuse dividend in order TO buy in The stock then
profits larger and than by the slow process
working up the dividends by economy and labor. At all
events the quantity Of dividend paying stocks the
New York market upwards of $4,000 600, and in
ceasing The only mode by which those who carry this
stock get their pay by fluctuations in its value, and the
public get sknned occasionally furnish profits The state
Affairs the stock market has caused great demand for
money from holders who pay reckless rates to avoid sacr-
nee when margins used up. great clearing out OF
these hypothecsons clears the market and lessons the de-
mand FOR money, which at time has been among
commercial men and regular dealers the other hand il