The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1857-10-24

II assumed that Che stcpage of the Philadelphia and
Baltimore banks tgaphed this afternoon 10 the result
of joint resolution the part of those institutions for
mutual preservation from the consequences OF an inds-
cmnate panic Should such be the case, the STEP in
stead of causing increase of srus may assist in pro
noting restoration Of confidence. There are certain
conditions under which banking establishments can
stand and 1t will be If these have been the
OF the present movement The immediate effect
will be to bills these cities to be sold at New
York and elsewhere at heavy discount and that most
of the specie circulation in Philadelphia and Baltimore
will be sent away TO purchase them The stock Of bull
lion at other points will therefore be proportionately
strengthened The event consequently instead of caus
ing further fall in securities may operate in an oppo-
site direction.
nm TRADE PACIFIC.
We copy the following from the London Mercantile
Gazette /: s.ha
We had occasion recently to speak of the increasing
trade of the Pacific and of the proposed postal commu
nioation with Australia about to be carried out by the
Royal Mail Steam Company The condition and progress
OF New Granada are in some identified with the
subject since the mails and passengers must necessarily
pass over the sthmus by this means The establishment
OF this new and direct line of communication with the
Pacific ocean is destined to aid in no small degree in
throwing open the portals of trade to greatly increased
business and travel Had not the American acquisition
Of California, and the discovery of &c eoldelds given
an impulse to the sette OF the northwestern coast of
America, and TO trade of the Pacific, many years
Bh' nav elapsed before the isthmus of Panama would
resent the busy scene that il does On the Pacific
coast there constantly large fleet of sailing vessels
and steamers running between the principal ports Of Cen
trail and South America well the Sandwich Islands
California and Mexico bringing to the Pacific terminus of
the isthmus railroad oils from the whaling stations and
the various produce of the southwest coast including Pc
ruvian bark, and coffee Indarubber, copper and
hides, for transport to the Atlantic States.
An immense amount of passengers of property and Of
correspondence at present passes through wilderness
and Is placed almost at the mercy of rude population
What has been done, what doing to guaranty
the neutrality and safety of this transit If Lord Pal
merston veoes the Suez canal route and throws the
summation of that important work entirely upon the
European powers who are now arranging their plans for
its adoption will he do nothing to guaranty security to
the western isthmus route or will he repudate this also
and leave it entirely TO the Amercans few days ago
pointed attention to the exobant mposts levied by
the State of Panama in capaton charge ON passengers
heavy tonnage dues shipping at the transit ports
and on goods forwarded and exorbitan postal charges
Now the United States moving in the matter and
determined not to submit to these oppressive charges
it is but right that should also endeavor to be relieved
from them, and point out to the New Granadans that
moderate rates likely to promote extensive
merce, and contribute to their treasury if they
stand in need of IL.
Steam has now become the link between distant coun-
tries, and New Granada is illustration of the
ner in which the rapid spread of civilization and com
MERGE is elevating remote regions and weak States
into q sudden importance. We have recently the
complication and difficulties that have arisen there
with the Americans, and we know not how soon we
may meet with similar distractions to our traffic and
commerce
Correspondence Of the London Tme Paris October 81
TRADE, MANUFACTURER, AND CROPS IN TRANCE.
Numerous foreign orders continue to arrive here for
articles de Paris, jewelry, bronze ornaments and furni
ture Those received from England and the United
States however, not extensive in former years
The accounts from the provincial manufacturing towns
likewise generally favorable. The manufacturers Of
Lyons have received large orders from the shopkeepcs of
Paris but not sufficient to keep them fully employed,
Fortunately for them there has been rapid fall in the
price of silk within the last fifteen days. particularly
in China silk which is quoted at reduction of 20f the
kiogramme. This fall causes the commission agents TO
demand better terms of the manufacturers The Lyons
manufacturers complain that the fall is trifing relief in
comparison with the injury they receive from the
acturers of mixed silk and woolen stus in the north of
France, who deprive them of many of their oldest
toners. Their usual orders from the United States have
not arrived and the last letters received from New York
represent the market gutcd with silk goods which
are selling by auction under cost price Trade is active
at Mulhouse with rise in the price of cotton goods
Accounts from Rouen state that prices kept up by
the light stocks hand Thirty bales of silk were
sold at Masees last week at prices varying from 30f to
9Of the kilogramme The price of wheat continues to
decline. The last Paris market abundantly supplied
and sellers forced to submit to further reduction
of rs cents the hectoitre Choice samples offered
at 32 Soc, good at 3lf, and ordinary at 29 per 100
kogrammes The millers refused to buy and declared
their intention to wait for lower prices The price of
-four has declined in the Paris market 2 the sack of 1877
kilogrammes The markets in the departments are
all lower The farmers everywhere appear DESTROYS
to realize and the average price is quoted under 20f the
hectoe There has been but little change in the price
of sugar this week in Paris cargo from Bahia was
sold at Maseilles at 46f the 100 kilogrammes There
brisk demand for refined sugar for expectation at
56f