New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-01-26
i,ls.d Raroad pest Summer BY establishing although

lslayd Raroed n. n Summer By eetabshng atbrough
line TO Boston and to Newport. Passengers by this
route oould breakfast an Nev-York and dine in New
port The through line TO Boston was thoroughly
tried when the Long Island Road was opened, and
failed.
The friends of the Texas Debt bill, which has just
passed the Senate of that State, sanguine OF Its
success in the House, where it viii come mp on the
18th February. A considerable amount OF this debt IL
held by the citizens of NewYOrk, who are thoroughly
disgusted with the delay in the payment OF Their
claims. The BILL in justice to all parties, should re-
ceve early attention. and be either accepted or re
jected Many of the holders believe rejection OF the
present bill would result advantageousyi that one
offering better terms and without the assent OF Texas,
would be passed by Congress.
Dates from Newt orleans doth quote Sterling plenty
at a : per cent Francs 53sl 1880 Sight drafts On
the North a. discount. The business IN Cotton was
large.
Anew bank. 70 be called the National, with cap
tal of 5000 OcO, is being organized in Albany
report on the Savings Banks of Massachusetts,
shows the wonderful growth OF these institutions since
1894. period of p years
In 1854 the total number of deposi,ors 20
In 1856 total number of dePosi,Ors -
An cunt deposited
The increase of deposits since lsi5 has been ABOUT
sl7. eco coo, and the increase OF depositors about
lOO, COO About one-eighth the population of Massa-
chusets are depositors in these banks. IL the entire
sum was divided among all the depositors, it would
give each ESQ.
The continued drain of gold from England 10
France has excited considerable interest in financial
circles, both in England and in this country The
annexed article. from The London Economist, gives
an explanation Of this drain, and also reasons for
expecting. ere long, change in the current;
"THE EXPORT OF GOLD.-So much has been said
and written upon the subject of the continued dram OF
bullion from London Paris, that Is but due TO the
Bank Of France TO show that Is really only perform
inc function for this country IN connection WIN 'e
war by these purchases of bullion, when Wouiu DC
ess conveniently for all parties concerned performed
in another way but for the Intervention OF that
and that if the bullion did not go TO raris' Wouiu
nevertheless equally leave London. Inc truth IS
that France is but the channel through when our
bullion flows to the East for the payment OF our war
expenditure The process is this, and 1t shows how
nicely and eklfuly all these operations are manager
wi en- left the control of private enterprise All the
contracts AT the seat of war are made payaoe IN suot
| hills upon the Treasures of England ana France
Those bills when received by the contractors on the
| spot are disposed Of chiefly to Greek bankers ana
merchants in Constantnope, in exchange ior golu,
with which contractors again make fresh purchases
in the surrounding countries. The bankers ana uer-
chants in Consantinople have great object IN replac
ing the gold for the bills purchased as rapidly a. pos
sible not only in order to save interest, ou. al'o 20
repeat the operation by fresh purchases Us oiten as
possibe They therefore, send the bills on tne TWO
| Governments to agents in Marsenles tho Engnsu
| hills being in great demand for Paris are som on
GOOD terms on the Exchange at Marsees to the agents
81 the PARIS bankers and the French bills are cashed
at the Branch Bank of France IN that city. FOR lhe
| full amount OF both gold ls taken from the brahch
Bank OF France, and returned by the nrs steamer 10
Constantinople The Branch Bank Is repenshed from
the Bank at Paris and the Bank at Paris to the ex-
tent at least of the English bills, Is repenlshed oy con-
nued purchases fgold in London when are lor Oy
the English Treasury bills, bought at Marseiles so ei
as they co. By this means the banker IN COnstanti-
nope receives his remittances sooner than he had to
wait till bis bills reached London, and the gold arrived
| from that port. Thus gold il steadily on the move
| from London to the Bank OF France IN farls, ron
thence 10 the Branch Bank in Marseles, and lastly
from thence TO Constantnope, where II IS furnished u
the contractors of provisions for the two armies and
by them disseminated among the producing classes
| Turkey, Asia Minor, Egypt, etc. These purchases
OF gold for Paris are therefore, to that extent only an
other name for remittances to the army in the East
But then, it exctes surprise that SO much gold a.
has already gone ont has not led TO reaction In th'
exchanges and thus caused the current to How 0ack
But when it is borne in mind that the greatest part
the coin has been used for purchases III remote
and upfrequented countries where no means OF invest
ment exist, and where no banks are established, II
not matter of surprise that the greatest part, up q
| this time, has BEEN according to the custom OF TN
East in relation to the precious metals, boarded
There are, however, signs that considerable retur
| of the gold may soon be looked for. The increase
wealth of the population of those countries has led
a considerable increase in the consumption of Frenc
| and English manufactures. Of late the private trad
to those parts has experienced enormous increase
II recent number OF this journal we showed that o
British manufactures alone the increase of the export
| independent Of the Government shipments) in Thu
| present year. compared with 1853, was between fc
and sir millions sterling. OF other articles reexpoeC
out of bond there have also been considerable ship
ments. From France, also, the trade has great!
increased. 1t liz, probably, not too much to say tina
in ell ways the private trade of France and Englan'
to those countries has been f0 o000 600 more in ls5
than it was in ordinary years. But the great bulk
this trade has risen up toward the close of the year
Remittances therefore, must soon be made to larg
| amount, and the the usual imports OF corr
| from those quarters have been 80 much diminished
Already the exchanges at Constantinople have beer
considerably influenced. 1t is probable, then, tina
during the next three months considerable return o
bullion from the East will take place. at least tina
| the flow from the West will be suspended. And, a
the chief demand for gold has hitherto been for thOs
parts ii may be expected that the position both of thu
| Bank of England and the Bank of France will ma
terially improve during the next few months"
| Sales Of Stocks at Philadelphia JAN 25
Reported for The ~ Y. TRIBUNE by j. II. II. B. FRY3
lMa ltNh VA