The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-06-28


pleasure trips to Revel, Hapsal Helsingfors, Abo,
Lake Ladoga, &c, steamer is advertised to take
passengers TO Torneo, small town ia the north Of
FINLAND where at this time Of the year The sun never
sets and they viii enjoy the spectacle of an uuinter
rupted noon Those who are prevented by official or
other engagements from undertaking lon ger excur-
Sous retire to the ddtchi or vegiature in the neigh
borhood Of the city, and only come into town FIR
few hours every day. In August however, we are
to have great doings again; the imperial couple and
the Empress Mother are expected to return BY that
time; and the nuptials of the Grand Duke Michael,
the emperor youngest brother, with Princess Cecilia
OF Baden, will be celebrated with great spendor af-
Ter tie bride has been first admitted into the pale of
the orthodox church.
e. see it mentioned in the French and German pa
pers that the "once famous Prince Menschikof' is
now travelling In Europe aud had arrived at Paris.
This il a mistake; Prince Menschikof the exam
bassador and exCommandeI- in Chief in the Crimea.
In living very quietly at his palace, the same that
was formerly occupied by tho Board of Admiralty,
and Was presented to him by Alexander ii. soon sf
ter his accession 10 the throne The traveller is his
son, who is also Aide de- Camp General to the En-
peror, I'd who is mild and inofensve person as
the tsthei is naughty and imperi0us
The Bullion Movement I'm Europe and Asia
sUPPLY OF GOLD In FRAECK-Trs EFFECTS ON THE
INTERESTS OF THE PEOPLE-TRADE IN SILVER
DRAIN OF TIKI METAL TO THE EAsT-rHE GOLD
QUESTION IN INDIA-rHE BANK or FRANCE.
The following interesting information respecting
the extraordinary move ment in bullion which is now
taking place from the different countries Of Europe
10 India and China Is extracted from our latest Ed
yopean and East Indian files. The efforts made to
fix standard OF metallic currency in Fran e. as well
as the results OF some recent experiments in quartz
crushing in England are also noted
EUPPLY OF GOLD AND SILVER IN FRANCE EFFECTS
ON TRADE, WAGES AMP TIE COST OF FOOD.
Under tsis head the Revue Contemporaries, of
Paris, IN - last number, publishes an interesting
paper in which the author NJ. Levasseur, proceed
ing from statistical data already brought under the
nolce OF the public by various previous writers,
rives at the following preliminary results:-l. The
general rise IN the price or provisions and rerchan
disc proceeds from four causes two of which, viz
war aud bad harvests-are transitory, while the
other two-the developement of manufactures and
an Increased supply of goldare pc rmanent in their
effects; 2 The rise chiefly affects provisions and
such ertices as produced in limited quantities.
2 Is IS much less perceptible in manufactured att
ces; A. II is greater in England tnan in France; s.
1t caDno. go beyond certain limit at which it is
stopped by competition until prices descend to the
same level among all civilized nations; g. Before
this limit Is attained, the rise is for time ari
ficiaily exaggerated by the retail dealer; Z. The
rise, IN France and England, has been favorable
both to the merchant and the agricuturist s. Sala
ries do not increase In proportion to the price of
provisions, consequently the has been detrmen
tai to those who live upon fixed salaries: AMI 8,
those, therefore, who live upon fixed incomes daily
become poorer. AS set OF to these evils, the
author IemSI Ks upon the benefits arising from an
increased influx of gold, and shows that although
IN theory an article of commerce might be expected
Ifse cXaCtly proportion 10 the
OF the circuis'iog medium, such is not practically
the case because this proportional rise meets with
ats check in the stimulus given to production by
the increasing demand COO sequent upon a greater
abundance OF means. The difference between the
influx of the precious metal and the amount Of rise
which it has produced, therefore constitutes real
iscrease In public wealth. Thus, in England,
deduetng the effects OF the scarcity which
NO exceed rs per cent; in France,
vie 10 .le ecyl of bad harvests have been most
rev. y teit. and may DO stated at 70 per cent, the
Use attributable 20 the influx OF gold also limited
u rs per cent. Now the influx OF gola has been
upwards OF so per cent? therefore an addition has
been mode to the permanent wealth OF the country
OF st lese one half OF the new amount o. gold in
PRODUCED. Whether, and a. what period, the civil
lied wodd will be saturated with the precious metal,
81. levaseuT does not undertake to decide: bat lac
thinks that thai period Is sill far distant, and that
The actlyty OF cur manufactures, the immense 10
crease OF our commercial iDteyc purse aud the civil.
2aton which, through the iostrcmGotalty Of gold,
has so rapidly sprung up in California and Austria
ls viii enable us for many years to come 70 ABSORB
the produce OF the gold fields without being made
sensible Of any material depreci Aon Of the curren
cy. We wiz not follow N. Levasseur through the
numerous statistical details into which he subsequent
IL enters in order 10 explain the great phenomenon
OF day. viz the dsa ppearance OF silver in proper
ton as gold flows in, Circumstance more severely
felt in France than elsewhere but cannot omit TO
state tina. in bis opinion il is 70 the arbitrary pro-
portion OF value legally adopted in the latter country
1l54 of silver 10 OF god proportion permanently
upheld between two metals the relative value OF
which ia subject 20 constant change, that France
owes the melancholy privilege OF always being
rich mine OF speculation. either for her gold or her
silver" The author now Inquiries which Of the two
metals ought TO be chosen for a ssandarG? The
French law, indeed establishes i've grammes OF
silver az 9iOths as the unit Of value, but IL also
sanctions gold a legal tender; snd which ever o.
the two metals be preferred this preference is
10 give an unfair advantage 10 the holder either Of
god or evet as the case may be. One OF the great
=. rtatt.
but who can tell whether silver may no., at very
distant period, undergo q similar depreciation! The
production o. gold appears inexhaustlbe at present,
but on the other hand, has not M de Humboldt pre-
diced, from personal observation and positive scen-
aihC data that day would come when the silver
MINIS Of America would be worked along a line or
II 600 kilometres Again, the production OF silver
Cepends on that Of mercury What If new mines
o. that metal. hitherto unsuspected, were shortly
discovered? Since the discovery Of mines Of NOR
cury " Californis the price Of that substance has
fallen from IL. 4ic 10 e. &C., equivalent to fail
OF SIX per cent IN the value OF silver. Hence there
is no reason 20 conclude that silver will always re-
tain the stability requisite for standard Of value.
PIT even non il France It'll in q condition to die.
fste the Law Has 10. the commercial interest al
ready declale in favor OF gold Since ls4s the
mnts Of France have coined ,2iJ millions OF francs
az gold and the quantity Is daily increasing. Hence
the queaton IL 60 longer matter OF choice, and
sell unless the state AZ length resolve - legalize
state Of things which is already beyond ts control
TIE GOLD QUESTION IN TSDiA-ADy ANTAGEs OF A
GOLD CUEnKECY.
From the Bo inlay Tines, May Ill
The question OF a geld currency for India il OF
daily increasing moment. The following table
shown the excess Of our mporstiOns ovei exports of
bullion since the year ls5O-5l:-
Ercess
Years. Imports. Exports. Of Imports
Is50-5l. .f3 sill 500 G5fl 2sg f32fO520
I95l-52 4,62s.G77 7l0,32G S9ls, 1851
1s52-53. 6,2s23lS 20s g36 6,075,3s
Is53-5i 4g05,s73 l0S746g 3s1s ,403
dS54-55.. 1895 800 969,905 996,654
1856. l1.2s0.3iT 1559510 9,720,S70
1861. Ten 60 twelve millions.
During the last seven years India has thus drain
ed the void OF nearly four hundred millions of sill
yer rupees, or forty millions OF pounds sterling.
Nov, large portion Of This amount has unoues-
fonaby passed forever from currency use, Ivy the
absorptve process OF conversion into personal orna
mehts, and the question Of course fnggcsts ieelf IL
inns state Of matters is 10 last does the annual pro-