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

pleasure trips to Revel Hapsal, Helsngfors, Abo.
Lake Ladoga, &c, steamer is advertised to take
passengers 70 Torneo, small town 10 the north OF
FINLAND where at this time OF the year the sun never
sets and they viii enjoy the spectacle of an uninter.
Rpted noon. Those who are prevented by official or
other engagements from undertaking longer excur
sons retire to the ddtch or vegiature in the neigh
borhood OF the city, and only come into town FIR a
few hours every day. In August, however, we are
TO have great dongs again; the imperial couple and
the Empress Mother ere expected TO return by that
time; and the nuptials of the Grand Duke Michael
the Enperors youngest brother with Princess Cecilia
OF Baden will be celebrated with great splendor af
Ter tie bride has been first admitted into the pale of
the orthodox church.
see ii mentioned IN the French and German pa
pers that the "once famous Prince Menschikoffr is
nov travelling in Europe aud had arrived at Paris
This is mistake; Prince Menschikof, the exam
bassadoF and ex Commander in Chic. 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
son, who is also Aide &c Camp General to the En-.
peror I'd who Is as mild and uoflensive person as
the fsthei is naughty and imperious.
The Bullion Movement In Europe and Asia
sUPPLY OF GOLD IN FRARCE-TTs EFFECTS ON THE
INTERESTS OF THE PEOPLE-TRADR IN SILVER
DRAIN OF THE METAL TO THE EAsT-rHE GOLD
QUESTION IN INDIA-rHE BANK or FRANCE.
The following interesting information respecting
the extraordinary move uent in bullion which ia now
taking place from the different countries of Euro pe
10 India and China, is extracted from our latest Ed
yopean ana East Indian files. The efforts made to
fix standard OF metallic currency in Fran ,e, well
as the results Of some recent experiments in quartz
crushing in England are also noted
SUPPLy OF GOLD AND SILVER IN FRANCE -EFFECr5
ON TRADE, WAGES AMP TIE COST OF FooD.
Under this head the Revue Contemporaries, OF
Paris. IN i last number, publishes an interesting
paper. In which the author, M. Levasseur, proceed
ing from statistical data already brought under the
notice OF the public by various previous writers,
fInf
general rise in the price OF provisions and rerchan
disc proceeds from four causes two of which, viz
war aud bad harvests-aIe transtory, while the
other tso-the developement of manufactures and
an inccased supply of gold-are permanent in their
effects; 2. The rse chiefly affects provisions and
such srtcles as are produced in limited quantities.
2. lt Is much less perceptble in Manufactured anti
cies; A. IL is greater in England tn in France;
IL cannot go beyond certain limit at which it is
stopped by competition until prices descend to the
same level among ell civilized nations; 6. Before
this limit Is attained, the rise is for some time ar
hcialy 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 tie rise has been detrmen-
tai to these who live upon fixed salaries; AMI g.,
those, therefore, who live upon fixed incomes daily
become poorer. As set off to these evils. the
author remarks upon TIE benefits arising from an
increased influx OF gold, and shows that, although
IN theory an article of commerce might be expected
to rise III price exactly in proportion TO the increase
OF the circula log medium, such is not practically
the case because this proportional rise meets with
Its check in the stimulus given to production by
zhe increasing demand consequent upon 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. Tins in En- rIanj
deduct!ng the effects OF the scarcity which
are tIaDsitoty, the largest rise does
nc, sk'eeS Is per cent; in France,
severely felt and may be stated at IS per cent the
rise attributable 70 the influx OF gold also limited
u rs per cent. Now the influx OF golG has been
upwards OF so per cent; therefore an addition has
been mode to the permanent wealth OF the country
Of st esst one half Of the new amount o. gold in
PRODUCED. Whether. and a. what period, the civil
lied world viii be saturated with the precious metal,
III. levasseur Goes not undertake to decide but he
thinks that tha period is still far distant, and that
the activity of cur manufactures, the immense iu-
crease OF our commercial nterc purse aud the civil.
yation which, through the iostrcmGntaity Of gold,
has 90 rapidly sprung up in California and Austria
liza, will enable us for many years to come 70 ABSORB
the produce Of the gold fields without being made
sensible Of any material depreciation of the curren
CT. We VIII not follow M Levasseur through the
numerous statistical details into which he subsequent
~ enters in order to explain the great phenomenon
OF day, viz: the disappearance of silver in proper
ton gold flows in, circumstance more severely
felt in France than elsewhere but cannot omit to
state that in bis opinion II is 70 the arbitrary pro-
portion OF value legally adopted in the latter country
(l54 Of silver 10 OF gold proportion permanently
which ia subject 20 constant change, that France
owes the melancholy privilege OF always being a
rich mine OF speculation either for her gold or her
silver" The author now inquiries which Of the two
metals ought 90 be chosen for q ssandaru? The
French law, indeed, establishes five grammes OF
silver at 9-l0ths the unit Of value, but IL also
sanctions gold a legal tender; Eld which ever o.
are two metals be preferred, this preference is
TO give an unfair advantage TO The holder either Of
gold eslver the case may be. One Of the great
arguments against gold is its present depreciation;
but who can tell whether silver may not at no very
distant period, undergo similar depreciation! The
production % gold appears inexhausiibe at present.
but the other hand, has not IA. de Humboldt pre-
dcted from personal observation and positive scen-
iihC data, that day would come when the silver
MINIS Of America would be worked along line or
II 900 kilometres? Again, the production OF silver
depends on tibet CT mercury What If new mines
o. that metal hitherto unsupported, we're sho.iiy
discovered Since the discovery Of mines Of NOR
cury M Calforns the price Of that substance has
fale1 from n. 4fc. 10 &c. &C., equivalent TO fail
OF SIX per cent IN the value Of silver. Hence there
is no reason 70 conclude that silver will always
tain the stability requisite for standard Of value.
PIT even non il France It'll in condition TO die
fsJe the law Has no. the commercial Interest a.
ready declared in favor Of gold ? Since ls4S the
mints Of France have coined 2243 millions OF francs
az gold, and the quantity is daily increasing. Hence
the gueat.on IL 90 longer matter OF choice, and
commerce alone viii complete the revolution OF IT.
sell unless the state n ength resolve - legalze
state Of things which is already beyond ts control
TIE GOLD QUESTION IN IEDiA-ADV ANTA6Es or A
GOLD CUEnEECT.
From the Bonbay lines, May II.
The question OF q geld currency for India ia OF
daily increasing moment The following table
shows the excess Of impor ovef exports of
bullion since the year 1850 5l:-
E-cess
Years. Imports. Exports. Of Imports.
Is5O-5I. f3 Sill 800 Gj4l $50 f32705l0
Ie51-52 a,62s.G77 7l0,326 3,9ls,3
1s52-53.G ,2s23ls 1886 6,075 ISL
Is53-5t... 4905,s73 l,0s7,469 3sls ,4O3
dS54-55. 1855, 800 969,905 996,65i
1856. .l1.2s0.3lT 1,5595lO 9,72O,s70
1861. Ten 20 twelve millions.
During the last seven years India has thus drain
cd the wo,ld OF nearly four hundred millions Of sill
yer rupees, or forty millions OF pounds sterling.
Nov large portion of thB amount has unques.
flnnahlx M ssed fnrnvnI from currency hY the