The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-12-06
COMMERCIAL.
,aou ouR COMMERCIAL CORRESPONDENT.

New YeRK, Dec 4, 1853
The exchange market has been heavy, with bat small
onoropate demand When the leading bankers sellers
az shippers OF gold they usually have consider
able sums OF foreign money awaiting TIE operation "eh
ey lend upon stocks. At this moment the operation has
ceased and stock market misses the loans so applied nsu
sy The great 10 Erie stock eonriyed on
funds based exchange movements The supply obtained
Tor the by the Bank Of France, and The Australian
arrivals la London had supplied for the moment the urgency
- The demand there but the advices PEE she Atlantic show
mptom Of renewed sringency and fears Of Tightening
market The arrival OF $3.50 70s from the West Indies was
taken for export and ihe bauk return showed further dina
inuon OF the Of bullion and IN the Bank OF France
the amount the credit Of the government having fallen TO
gerry low figure the necessity OF new loan was already
~ sneeuation In Of the fact that the last
Maid mn with much difficulty after having been subscribed
with syidy Between the subscription and the payment 81
h nstamen however the effects Of the war expenses had
developed their influence in restricting business and the
which has succeeded to the paper imitation
in the unusual circumstance that six de change
had been compelled sell out their commissions Tor ooooo
francs each BY Of embarrassment ana IL was stated
that tw new would be authorized 10 commence pus
ness January la France all transactions IN securities
must be done through ag de change or broker lhese
ware in 1901 and the number fixed for Paris has
been sixty Over these and not of their body IS syndeae
which governs their proceedings To become broker 1t IS
necessary be citizen of France lie must never have been
bankrupt and mut be responsible He must have been during
four years engaged or in bank or as notary
and must be nominated by the ycae TO the governments
his nomination he pay l2o 0ooG or 5000 in specie
into the sinking fund guarantee He then enters on his
duties He then keep book, countersgned by one OF
the Judges of the Tribune of Commerce. In this book must
entered day by day order of dates, without erasure
inteneatcn, transposien, and without abbreviatons
every transaction He must, condition or under any
pretex make operations his account He cannot
interest himself directly indirectly, in any commercial
enterprise neither he receive pay for of his
of
with fine less than 3,000f The commissions y
a the operations, and he Is bound to keep the
business Of his client profound secret Ii he fails in any
engagement he is punished bankrupt The bankruptcy
agen de change legally fraudulent and incurs ina
punishment 1t obvious that of late years, when the
multiplication of banks companies, railroads, and every
species credits has been rapid that the business OF the
sixty ogens dc change must have increased in similar ratio
tho number which has hitherto suiced carry the
speoulaons of Paris ia so longer hence the
alton twelve ones raising the number to
The realized 5000 900 for each
Gates the ucravenes of the position at the time that
six of these agents. notwithstanding the restriction OF the
law had become embarrassed offers evidence of the hazards
of the business in Of speculation The general
suit indicates the progress Of credits the continent Of Eu
rope In far these credits in advance of the prog
of trade and industry they have tendency to diminish
that natural demand for the precious metals which
tending and manufacturing enterprise create.
They also tend augment the fluctuations Of currency,
since every threatened revuson, from any cause, the
demand for specie viii be earnest and of greater
magnitude. In the proportion banking credits
expand here they become exposed to the effects
Of sudden contraction there This contraction the
occasions, causing currency to exhibit the
symptoms of redundancy compared with that Of nations
with whom deal. The advces by the latest are,
however, still of increasing aam in respect of the crops.
The Prussian and French governments buying grain
abroad sell cheap in their capitals TO quiet fears there
At the time that the steamers large quantities of
United States and Spanish -four weekly from London and
Liverpool to Constantnope whore -four sells 10 piares
per okeo okes liz pounds and IA piasres 81 swheat
which is worth 75s per quarter in London will bring l2s
in Constantinupe. At Ibrala eyen wheat sells $685.
and Indian ASS per quarteror dear in London
In New York prices maintain their high rates. and navga
tion being closed but little fall DO looked for
markabe feature of tbs is the high price of rum New
England rum (from moasse) sells readily for the Mediter
at so censat prices before attained cargo
Of $50 barrels sailed this week for Constantnope
valued at 96s4very nearly $50 per Darrell and Boston
ships large quantities weekly Smyrna and Consantnope
An eminent distiler in Boston took French governmen
contract for 600 coo gallons at certain advance tn
price of molasses which has become Corn whiske
sells at 40 cents and, with the active demand for liquors
the supply Of corn ON the seahoard is not large.
The quantities OF produce delivered from the West
much larger than last year. but the values much higher
The deliveries per canal ut with values fol
lows:
Deliveries at Tide-,cater.