The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1859-03-31
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IRWIN VIC bnApuf nrfl NhfNh -bI ~ -
AS the outward dow Of specie from State street has
boon checked, money has settled into a dull and quiet
condition, which il is likely 10 maintain for some time,
provided nothing unusual interfere with the market.
Very little is said about money and, IL the supply BIO oc-
casionally limited IN certain circles, 1t Is certain to be
ample over the way or Ia the next street.
From abroad we have an increase OF peace talk, amid
the most direful preparations for war, Apparently, the
various governments are playing the game of ''bnNg
and nothing but the fear of making a false step, or the
hope Of frightening am opponent by a tremendous display,
stands between millions of innocent human beings, know
ing nothing and caring nothing about the qtarfels OF
cabinets, and wholesale rapine and murder, poverty and
misery. That there viii be a great wal Ia Europe, when
ever the poor worms, who misgoyern the various nations,
fancy they or theirs can make anything out Of il, is not
to be doubted the only ground for hope is that they
may continue to be afraid to venture for the idea that
humanity on sense OF right, or even of true interest, will
deter them from enormities, cannot be maintained for a
moment But not TO discuss the character of the rulers
OF Europe, it Is evident that fears of war are seriously
checking the revival OF trade and navigation in Europe,
and are not without an i'll influence upon commercial af
fairs in this country. We trust that these fears are
groundless, and that they may soon be d~issipated. Truly,
the ''empire Is peace, : in a larger sense than that in
tended by Louis Napoleon and even foreign war, upon
the whole, is unfayorable to the best interests of this
country. But IL the folly or pride Of man should plunge
Europe into war, the United States must turn the facts of
the day TO their best account. IL war should limit our
cotton sales abroad, it would increase our carrying trade,
advance navigation in general, and double our exports of
breadstuhs and provisions.
In New York, the last foreign news, upon reflection,
was not considered as peaceful as il seemed TO be at first
blush, and the stock market, which had somewhat inn
proved, receded again. We do not think much of this,
however, for the truth is that the leading New York
'fancies" arc either worn out, or arc beset by facts that
are clearly so unfavorable that we doubt whether a sus-
tanned advance could be effected under the best of circum-
stances. Dry goods seem more quiet in New York, al
though the imports last week were enormous. The cotton
and tea trade is very lively, the sales of the former last
week amounting to $4,000 bales, and of the latter to
500, 900. The dry goods thrown upon the market were
So, SOP. 615, only about SIS, 900 going into warehouse.
These figures show an increase of So, 004, AGA over the
corresponding week of 1858. The domestic exports were
1928, 1903, a decrease of 1928, I22 as compared with the
same week of last year. Tho specie exports were $685.
9S6. The assistant treasury, March 25, held 81, 069, 432,
having paid out 81, ll3, 1876 more than its receipts during
the week, We notice no change in the Now York money
market. Sterling exchange has recently been in ample
supply, and for the City Of Washington bankers bills
were 1904 to l09S.
In the Boston stock market the only activity visible is
in '~.coppers, = and even in these the livcliness has recent
ly been dcsultory and evanescent, but with some marked
exceptions. After the first of April it may be presumed
that investors in sound securities will be more numer-
Gus. At the close of the week, as intimated yesterday,
the market for dividend shares seemed improving. Of
course, in the present abundance of money, there is no
pressure of anything for sale but in general dullness has
ruled the hour for some time back.