The daily union. [volume] (Washington [D.C.]) 1845-1857, 1857-03-21
DEPARTMENT. NEWS.
DErAKrMrar or srArE.


pEFAKINKNT or STATE.
An Interesting Lsner from csnsialinepl-The follow
ing extracts Of letter from correspondent Constant
nopls viii be found to possess much interest:
sit quite necessary that American merchants trading
Consantinople and also the collectors OF the
in The United States should be informed that there is
paper currency in circulation at this capital which Is
allowed ersulais Of IL and that in consequence
nearly all Of the specie has been driven by il into the in
terror Of the empire All trade is carried here in this
paper currency and al aroiees Of goods made out IN
r.s v.,,s - ,b,. name. s..,.,.v s..,n.,. n.,
and its rise fall is greatly affected by various
frequently BY political and few years
the value of the Spanish dollar always given in
the bulletins Of commerce and prices current published
here coin then ia circulation at Constantine
pie bur from unknown mr., il Is rarely
quoted, and The coin Is here IL eomeTce
that the American dollar has eiteaa' ed,
been known here and It's value has certainly
aeysr been quoted IN any OF The publications Of this cap
ital
The value of various Turkish as well as foreign eoins
published in the dsily bulletins OF the journal de
ConsafiHops and La Pyesse and these fuctuate very
much Their value dfers greatly in each port city OF
the Ottoman empire Al Erzroom the Turkish pound val
$50 pasters Trebizond and Salonica 40
piasters; the Rodoste only forty-fve miles from
this place and las piasiers at Pendck sill, AT
Smyrna the Turkish pound quoted AT los pasters AT
this CRY the fluctuations vary only daily bat often
several times during day which viii be seen In the pub
shed bulletins.
in exchange for Turkish paper mouey, is quoted at
l22 254o pasers whilst the It'll of last month it
quoted al lls 25o pasters SO great Was the fucuaon
the value OF Turkish and foreign money here that the
journals complained of it. As aforesaid political
reports affect very much the credit Of the
currency of The Sublime Porte increasing the discount
upon IT, and consequently the gold and silver coins In the
market rise proporonally Bankers and money brokers
in this place speculate largely in these fluctuations and
are accused Of creating and promoting them
should here take occasion 10 add that will be
ceived in the bulletins there distinct valuations OF
the Turkish and foreign specie quoted the being
that OF or OF for bills Of exchange at
the Bourse and the other that Of the market value used
in payment OF goods and merchandise which IL always 10
ho'Ueh, or paper currency.
To-day the Turkish pound here quoted AT l22 25io
piasters and the Medjdich at "a 2040 piasters in
change for The currency IFS paers for the
Turkish pound and at IS piasters for Mediich in the
purchase Of goods; whilst the pound remains fixed
at Smyrna los pasters, and the Medidch III
pasters Last year. this date the pound valued
here al lao pasers, and at Smyrna il remained always
at los piasters.
Another popularity regarding currency of this place
may be mentioned here showing that it offers excep-
ton to all the other places in The empire which is that
there il premium at Smyrna for Consiantinope and tina,
IT varies according to the fluctuations Of the
Consantinope- Thus, the 18th u;mo this difference
of ago premium for the market of Consantnope
from 81 per cent and the 18th at ii IL per
cent Here to-day the discount OF money the marke,
OF Smyrna al l6 per that necessary to pay
here 1000 piasters have in Smyrna $40 piasers whilst
tomorrow, or the day following this discount maJ dn
ish increase and the viii be the premium at Smyr-
ms,
1T viii consequently be observed that Consantnope
account OF its paper currency which has most unsta
bic value the gold and silver Turkish coins change teir
value at analogous rate whilst their value remains the
in other places in the empire where the paper
reney is illegal and that for this reason these places
have premium varying in each respectively Constan
/ tinople
From the preceding it viii be that the rate of the
value Of any given coin in Smyrna s criterion for
certificate Of the value of the dollar at Conantinope for
whilst il varies very seldom and then but little tbs
former place the fluctuations daily and very consider
able here Indeed the value of the dollar is in
connected with that Of the pound English Turkish and
1 Euch Lass with that of the Meddieh. As example
whilst the Eogiiss pound S4 81 considered at h,
exchange OF Constannopis vaIung l34 pasters il
quoted Ia trade 1T l35 pases and though at this rate
the dollar should only be 20 oloo piaser il is well known
| that it valued 80 pissters
ain the Aanual OF Coins and Bullion published by ths
Mint Of philadelphia in ls42 the English sovereign il
marked at s. So the parrd dollar of Spain at 81 0os
the Mexican dollar ST. Oh As; and the difference there
fore between these and the American dollar ia ine
that il would be difficult to draw distinction here.
may add in conclusion, that the dollar values here
in paper currency 30 piasiers 80 piatsrs and
cents at the date stated therein confident this
as near truth be attained where the dollar is c
ttous CON- that scarcely exists at the present time at all il
currency which chsngeabe render extremely
difficult define its value But Smyrna herein shown
4 the value of coins huctuaies seldom and slightly
A &