The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1858-08-13
Commercial aud other Uses Of the
Atlantic Telegraph.

az
The Nsw York Herald remarks that the first
great uses of the Atantic telegraph viii, uadoubt-
esiiy, be made by commercial men; the newspapers
will record promptly add prominently financial
aud commercial movements: the arrival and de-
parturs Of steamers and sailing ships will be par
ticutaTly noticed; the quotations Of the prices OF
uod aud silver will be sought for; balances will DO
changed at . moments requirement from one
p,aes Of iodgmeut to another, and pecuniary
eredi, may be promptly sustained In many cases
where delay and uncertainty are the only causes
OF its loss all funds and all exchsngeable values
In Europe and the United States will henceforth
be 90 situated With regard TO each other that IL
will be practically il they we're all at one place
nj subject 70 the control Of one mind, no matter
how far their principals may be apart from each
other.
"The prices of natural sad artificial products,
adds tse Herald, must also necessarily approx
mate TO a greater equality. They can oniy be
made ohsraesbie with q regular commission aud
tho cost OF transportation. II -four grows scarce
in England it will he publicly known at 80 early
81 day that the supples will be directed there wi'h
tho greatest rapidity. This certainty will prevent
,aaie prices aud ensure sa equitable distribution
20 consumers before they suffer privation The
risk Of ipcurring less on shipments viii become
unnecessary, for what person would SEND a cargo
Of -four or cotton to Liverpool today when the
bringing tho prices 1t bore at New York. ny
steamer or packet there always delay enough
to leave a SPECTATOR in Doubt if not to encourage
bis rash ness We imagine that there Will arise
moneysd institutions solely Connected with sx-
change aud disconnected with ordinary BANKING
transact tons, into which the great moneyed psan.
ees of foreign trade eud commerce VIII be placed
for security, subject to orier through tho teie
graph. The unfathfulness Of factors aud ageEts
will so far, then, be confined In exteut to the
emoauts which they are permitted to retain IN
their hands The proceeds OF ss'es Will at once 20
into the safe keeping of these institutions, who
will demand a small premium for their services
Thus commerce will be conducted by well known
and simple rules without that inetssant huctuh'
fion which follows uncertainty ignorance OF ruling
prices, and IN faithfu.ness OF agents or distant
psrtners."'
In regard to the effect Of the Telegraph upon the
import trade there are different opinions. Some
importers argue that it would be injurious to men
ia their business. because country traders would
order their goods Ia smaller quantities than they
now do and importers would give smaller orders
10 the manufacturers. and the manufacturers
would be guided in like u&nnee as TO the incrsas-
ed and reduced production Of their wares, and on
all hands a email peddling bushes would usurp
the BOW existing modes OF trade. The Herald
however, is of opinion that 1t business be done
herceforth on smaller scale, it will also be done
safer one, and the aggregate amount will be
as large.