Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1856-09-12

In the earlier pagos of he Diary OF the Pcpys John
rvciyn we meet VIII such entry tie following !.
.l fal an worth ihiz 3ty ~ Coz be praised =
o. falighia INN f. count his gain, To ehuk his mo-
rrt5 aud II ,buclle oter fhc anoani- A. ne read
ut tbc-e entries are lcss frequent Wealth boe1mcs
matter OF eourfs# AMI IT. suns are mechanically
written down without effort IF the Imagination
1Hd without Thought Of gratitude l. IA win SLIM
Nf eaonsncss tfat one l. nov -a-days apt 10 look
over tc,e returns n Trade aud Navigation. which
ugaefih cess in ~ significance both In the mag
n,t43e at the total which exhibits the enormous exz
pm ion Of commerce and in the rise and fail of The
different item which indicate important change in
orr mode Of living
In This connection, let me rad an article Ia
ken flom the New York Herald, 10 SLOW how the
,,tem i still working. and what il calculates
VII be the con -cqnence- # thi- over importatirn
although II does not 70 back II show what il has
been for u series If years past.
COMMERCIAL PapsrEcrs We see with some np-
pfehension the import are reaching an uucaamplea
figure They fell but little short Of seven million
lt week mud doubtless sill nveragcns high for
several week, during the coming business season
Tins IS terrible symptom.
Even II the prosperity enjoy we're Ruaran-
tcei 70 last 1t Is extremely doubtful whether this
country could sustain m oyorimporaton Of this
toni. The market would hardly fail to be glutted
sad merchants compelled II realize ruinous snor-
fees Buttunder present circumstances the fea-
tpre is alarming in the highes. degree financial
reyalsion may be expected Mt any moment in France
il would reverherate from Paris to the Mississippi
aud would shake credit throughout the three coun-
uies Nor are own financial prospects as -four
t-bag as they Rht be. VI have innumcrable rot
tga schemes on hand that @ill some day break down
with crash llaliour railroa1s bankrupt if the
truth were known. and nearly large II proportion
OF Our manufacturing enterprises. Under the cir
yHpstanoes 10 embark in period OF imitation is to
count ruin
\ financial reeulsion may be expected in France
pt allY moment which will rcyerbcrac from Paris 10
TIE Mississippi Whether that revu.ion takes place
mol in France il is Obliged nj future day To
oome upon w., and reyerberate from one end of this
country 10 the other, unless the system adopted by
the Democratic party is changed aud speedily chang
ed even lit has not already gone too far to nvert it.
Pay day muh come sooner or later and if the Euro
pran war had continued We should have .c il before
this more severely than We have.
Bat let me proceed now 10 tho financial system md
then show how indebtedness stands this day with
Europe.
/ have no more approximate means from official
data 10 which wish 10 conhne myself ofnseertnin-
ing the amount Of gold that we have secured from
California, than - furnished by the coinage of that
metal at the different minl7 of the United States.
The amount Of gold coined in the United - from the
3 car-- down Ia The year lsl1 (Which was the peri
oi Il time when it begtn 10 come in from California;
sly ior 81 years was S525S3 I75.5O, or an average
"i one million year, whist the amount coined from
I7i5 IT, the 3uth sept. lhj5, Wis S632 90 131 81,
or ma ,crtgr Of -56 Hol ,3lS ~.
TIL. undoubtedly shows that there has bcennn i'm
mense udnN Of gold from California which il proper
l hH banded would With Iddieious commercial sys-
tom IN other words II well regulated tariff that
"oa1 not have induced excessive and ruinoas in
p'rRtlou. ttye put MS Ia ahead oi NIL the countries
on the globe in ahulnaid point Of view--nnl the
question would naturally have presented itself what
his become ut All This money, ii Ind not already
hRH 'oa taat IL Wcut 10 pay lor the cNrcss of goods
lnaaftel oeer aud above and beyond what our ex-
ports would reach But still ! will he more specific
nnl make il st moro apparent.
From hc4clr 1870 IL 1877 We imported 81 IL
] }9ij in specie, and during the same time
ported S299a0, e. thus showing that IN the z ycurs
preceding the tuif of - we imported $8l12i7sl
In specie than Wc exported or thai after the cN=
change fRoods, wares aud mcfehonaize we brought
htk that much money home with Us, and thai il ay-
cHsed about S3l2t.5al year whilst during The
y ears lSIS-a-5o-5l- 81 and J. exported : 83-
eiaas2 aud during the same period we imported ST.
iG593; making excess of importation of SlS2,-
G2sG99p or an average oil SO ,578 ,G23 year
80 that after paving IN the course OF eight years
under the operation OF the present system, the Of
:; ia2G2S 9aQ in the precious metals over and above
the amount of nnr entire expectations, are still
lrt IL debt this account alone in the OF $50
'13302 with all the interest that has accrued upon
Iftbis were all W. might weather the storm But
Nhen We come To add to this amount OF Indebtedness
all The State Corporation, Rail Road, and other stocks
q ii bonds held i'll Europe and borrowed whilst this
balance Of trade has been much against Us it will
mHkeuur Indebtedness not less perhaps than from
fur 10 five hundred millions of dollars. Aud let
the people Of Virginia estimate this amount by the
Hue of The property in their own State, which, in
80 was estimated, including real and personal
property. NJ Sl50.7ol ,os2.
From what hive said it will appear that the coin
ukeot gold IN the United States since lSi7 has aS-
eragei 500 99l }4s.Gi, of which you have exported
an average of S22a7s 623; leaving surplus, as one
ItI#r oi@ 4 % for he of