Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1858-01-22
The Failures In Great Br,ta,n.

may be doubted if the figures for lS47 would not be
found to have amounted to more than twenty-five and
half millions, but there can be question that on the
present occasion their magnitude is much beyond any,
thing attained at any previous period Subjoned is
list OF the principal suspensions announced at London
since the beginning of October when the pressure first
decidedly commenced Only rough conjecture can be
formed as to the total they represent since in many in
stances the balance sheets remain yet be produced but
fifteen or sixteen millions may be taken the lowest
The failures in the provinces of course cannot be
estimated with an approach to precision but the debts
of five banks alone amount to about twenty three mil
lions, the Western of Scotland So 932 the North
cumberland and Durham about 93,O00,00O the Liver
pool Borough about 94,000000, the Woyerhampton
and Stafordshre FL 100000 and the City of Glasgow
000 it is evident that thirty-ve millions would
be very moderate computation for this part of the ques
ton. The grand estimate is thus raised to e5000O0OO
(25000O,000), and with this before them Parliament
and the public bound to every effort to probe the
of the evil With the constant extension of ac-
tivity peculiar to all commercial countries it is plain
that if the continue to operate the new re-
vulson which will be due in 867 will much exceed
that OF tie present year as this exceeds what wit
messed i'll S41.
AT the same time the fact must he recognized that
according to the opinion of Parliament the elements of
mischief actually i'll operation but family represent
ed even in the totals now given. The doctrine is that
by the prohibitions and precautions enforced by the &c
gsature to prevent the mercantile classes from eXercs
ing, in banking affairs their own Independent Judgment
immense amount of disaster is averted. Indeed up
no other plea could the French system be tolerated
for moment in any branch of business in England. If
under this paternal have suffered to the extent
of fifty millions what must be the opinion Of those who
uphold that system to the total that would have been
exhibited if our tradersnsead of being taught to rely
upon government vigilance, had been left to the free ex
ercise of their own? 1t must be such as would trans
cend all ordinary conceptions The dscredit to their
sagacty therefore, will be proportionatey great if our
legislators unable clearly to trace and expose the
banefu influences that have been at work Out of doors
few persons venture to ask whether the vaunted RENE
dy may not in fact constitute the root of the disease
and if it would be very rash, after having witnessed
throughout the present generation the things that take
place under the Parliamentary guidance of banking bu
sne8s, to try the experiment of leaving it to its natural
course. In that case however, their functions as re-
CARDS the of trade would be limited to the SIM
pie duty of providing inexpensive means by which, while
men were left to make such mutual contracts they
might deem best every attempting to asify break
such contracts might be dealt with according to his de-
sers 1t is much more pleasant to fancy it possible to
control or regulate" trade. Any man who can per-
suade himself especially in country like Great Britain
that he is called to take part in such operation must
be conscious OF immense selfimpOrance and, gene
raj rule neither minister's members of Parliament,
any other of the existing race of human beings are prone
to surrender the delusion of imaginary power.
PECULIARITIEs OF THE New FRENCH METAL.-Ac-
cOrdng to a communication from eminent scientific a-
thOrity, in the Complies Rendus,' of Paris it appears
that the valuable properties of aluminium injured by
the presence of small quantities of other metals
OnetWeneth OF iron or copper make it almost mposs
BILE TO work the alloy, while oneenth of copper renders
aluminium brittle glass. An alloy of five parts of
silver with one hundred of aluminium works like silver
but is harder and takes finer polish The one-thous-
andth of bsmuth renders aluminium brittle that it
cracks under the hammer after being repeatedly
nealed. The presence OF aluminium in other metals often
communicates valuable properties when the quantity is
not too large. Thus one-twenteth part of aluminium
gives copper beautiful gold color and hardness enough
to scratch the standard alloy of gold employed for COINS
without at the time iniurng the maeabiltv of
the copper. Oneenth of aluminium gives with COPPER
pao olcolore1 alloy of great hardness and uriest-
bity, and capable of taking polish like that of steel
Five parts OF aluminium with hundred parts of pure
silver give alloy almost hard silver coin contain
ing onetenth OF "copper" and thus permits the hardening
of silver, without introducing poisonous metal The
results of these experiments show increased variety of
in the chemical and mechanical arts to which alu-
minum may be applied.
STATISTICS OF THE PENNsYLvANIA CoA1. Trade
The Miners Journal furnishes in detail the annual sta
stics of the Pennsy vania coal trade The amount of
anthracite coal sent to market the seabord in 1857
was 6,43l 1878 TONS other kinds, including imported
l,ll4145 making total of 7,545,523 TONS decrease
OF 81 1923 tons compared with the year previous In
Guiding the supply of btuminous coal in Western Penn
sylvania and further west and Of Virginia. the number
Of tons is about 10,50O0OO.
In 1920 the total amount of the coal trade was only
$50 tons it has enlarged since then till it comprehends
ten millions and half tons annually. Large as this
amount IS 1t IS no comparison to the coal trade of Great
Britain. From 1920 to the present time the whole
product in this country has been 1886 544 TONS inclu
ding small amount imported, but in the United King
dom, in single year, Q85G the product 66,645-
$50 TONS
The Schuylki region, which last year furnished more
than Oneha the aggregate amount of anthracite sent
market this year falls 320l G3 tons below the propor-
ton
The Journal gives q list of sc operators, with l22
cOaleries and adds:
A number of the coaleres enumerated above were
worked In the early part of the season. and afterwards
abandoned We doubt whether the number of opera
tors who will mine this year will exceed &c. which is
decrease OF since last year. The number of coaeries
worked has decreased in greater ratio. Last year
worked about lao cOaeries The number that will be |
worked this year will not exceed II or 90 The whole
supply of coal sent from Schuylk county in 1857 was
3,042,318
THE PRESIDENTS MESSAGE IN PARIs.-Thc Presi- |
dents Message published in full by all the Partisan
Journals 1t telegraphed through from Liverpool to
Paris in five hours and half-the same time it was re-
CURED to telegraph it to London. But the two copies
came over different wires, and while the copy sent to
London was III English, that to Paris was in French
This fact shows the Importance given to the Message
Ihe comments OF the press upon this document are va
rous--N. 7. Daily Nens.
From the message of T. B. Cumming acting governor
to the fourth annual Legislature of Nebraska Territory
"1he area OF Nebraska is greater than that of New
OK and the NeW England States. Our invgoratinp
climate, productive soil and natural advantages will at
tract multltudes OF emgrants driven to our shores bv
the political troubles of the Old World Politically we
have equal reason to rejoice. Our future increase will
give to us the CONTROL to great extent of the counlrv
political destiny and is gratifying to believe that that
power will be used with patriotic and unfaerinp de-
termination to defend the federal cons itution and