The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-02-14


AT the commencement of the gold shipments to
America, the public were warned of the copseauen-
ces. These have now been experienced. The i'm
preston here that looking at the different cir
circumstances OF the balance of trade now, COM
pared with 1857, about a quarter or half million
might possibly be remitted with safety and the es-
innate was subsequently, increased to moderate
extent on the occurrence of n rapid and renewed
rise In our wheat market All the principal houses
connected with America acted upon this cautious
anu limited view, and the correctness of their course
mas peen confirmed. Some persons imperfectly ac-
qualnted with subjects of this nature however will
perhaps exclaim that the contrary has been the
case. "The public,' they will exclaim Gfwere
warned that, owing to the limited capacity of the
New Y Ork market, any large amount sent out to
buy bills OF exchange would produce such an effect
that it would soon be found cheaper to return the
money forthwith. Y ct e. 900 900 has been des-
patched, and the latest quotations show that,i
operators were disposed to incur little risk by
taking ordinary mercantile instead of bankers bills,
they might still realize a handsome gain"
Now, of the remittances of three millions ster-
ling to New York, only very Insignificant portion
was for the purpose of buying bills of exchange
If they had been entirely for that purpose, we
should have had our gold back, with the compare
lively trfng loss of freight, insurance, &c. The
principal of the remittances has been for the
purchase of stocks, railway shares, &C., which
have been bought on terms that have caused a rise
OF 20 or 30 per cent. in the New York market, and
unfortunately these, and not our gold, are being
poured upon US, while our own share lists show
Is per cent. below the prices given for them. Hap
py would the senders of the gold be if they could
get it back at any moderate sacrifice. The folly
displayed in the whole affair seems perfectly in
credible. 1t was fair to suppose that large orders
would be sent hence when the of the first fall
in prices from the secession panic reached us, but
few could have conceived that the bulk of these or
ders would have been absolutely without limit as
to price.
Such, however. is found to have been the case;
and 1t IS reported that on day, after the
rival OF Liverpool steamer, the transactions in a
single stock in favor with English spectators re-
presented a cash total of nearly half million
sterling. In some cases jump of two and three
per cent. took place between each bargain, and
such was the character of the orders, the reck-
lessness OF the agents employed that the most pre-
posterous rates paid for loans of stock to en-
able immediate deliveries to be made. In fact, the
New York Share market has been the scene of the
very events that would have occurred in the Ex-
change market had our money been directed to
the latter. The error into which our merchants
were too intelligent to fall has been committed by
the multitude OF speculative inventors, who proba-
oly dIsregarded all advice and listened only to eX-
clted representations ct the unlimited capacity of
New York to absorb all the gold that might be
poured there. Whether the shipments made during
the past three weeks have been for the same pur-
pose is an important question. Perhaps from the
excitement in the Cotton market, some of the
totals may have been for the purchase of that
staple In any case are likely to smart heavily.
America, on the other hand as far as her power
ed, has as yet no for complaint Her largest
speculative stocks about ten or fifteen per cent.
higher, and her chief article of produce about
eight per cent. higher than before the disunion
outbreak, while there is immediate prospect of
her enjoying an abundant supply of capital, at a
rate OF about per cent. below that which we have
to pay on this side. 1t is true the nominal value
OF her slave property has undergone depreciation;
but that Is merely affair of the home Market
The labor is there, and likely to remain since GER
talnly there has never been any such sentiment for
the colored man in the Northern States as would
lead them otghtn order that he mig be idle land
its value is considerably greater than before. Un-
der these circumstances, some persons may be dis
posed even to suggest whether, as regards the
commercial relations of America with Europe, it
may not be found highly profitable TO the planters
IN the South, and the stock and shipping specula-
tors in the North, to agree to keep the secession
question open, so that about the time of the cotton
crop coming forward, it may furnish materials for
new panic every year
NJ. LENoRMANT, who has for for years been rum
maging, excavating and searching in the various
hiding places of Greece and Syria, has succeeded
in finding and securing very many beautiful and
desirable specimens Of art and skill. Some of
those found by him are now at the Louvre. Among
them is marble bust of priest of Eleusis, wear
ing the hair in sacerdotal fsshion-such as de-
scribed in books, bat never before seen repre-
sened in work of art; severa! bas-reliefs and in
scriptions; some PhGnician articles of jewelry;
and lastly the arms OF warrior of the hordes of
Alaric, which were found in excavation at
Eleuss.
WANT OF MurARY SplRr.-It is singular fact
that the War Departments of England, France and
the United States experienced similar and unu-
su al falling off in the recruiting business in the
ii rst month of the new year. In London, although
the Times says that at least fifty thousand adult
laborers are idle sufficient number of candidates
to supply the current wants of the line do not apply;
in France the conscriptI0n has just been rendered
more eXactng, because of the falling off in volun
teers; and with US, while thousands in midst
have no employment, applicants for enlistment are
fewer than they have been for years.
DIPTuERIA IN MAINE-The ravages of diptheria
have been dreadful in Somerset county, Maine. In
one small neghborho0d at Chestervilie ten persons
have fallen victims within a brief period. In one
family the father died while his child was being
conveyed to the grave. In another, three children
lay dead in the house at one time, and four more
PROSTATE with the disease. Scores of families are
mourning the loss of one or more loved ones Five
were lying dead at one time in three families. One
entire family had been carried away, and all the
children, seven in number, in another. The skill Of
the best physicians is totally bafiled.
Victor Emmanuel is more of a soldier than a king
and has sense enough to know it. Before he gave
his orders for the advance of PiedmOntese army
into the Marches, he is reported to have said to
counsellor, who ventured to point out that ne was
putting his crown in jeopardy, that he cared not
he could always find employment, somewhere or
other, as a colonel Of cavalry, and that was the
position he in his heart preferred, even to
throne.
The town of Llanduno, in North Wales, was on
the 18th ultimo the scene of a singular pageant.
Two ladies, sisters had recently lost sister, and
instead of erecting useless mausoeum over her
| remains, they bought lifeboat at cost Of one
thousand dollars, and on the anniversary of her
death, presented it to the little coast village of
! Llauduno. The occasion of launching and man
ming the boat was made holiday.
A proposition has been made to hang Parson
Brownlow, the eccentric editor of the Knoxville
Napr, \ for bi5h tn tha
cessionists. The Parson accedes 20 the arrange
ment and designates the most fitting dav for the
performance, that appointed for the holding of
mass meeting near his residence. The arrange
ment, he says, will secure him large audience to
hear his dying speech.
SUPPLIES FOR THE ARMY.-The Cincinnati Enqui-
says: Major Hayne, of the South Carolina
| Army, and brother to Col Hayne, the bearer of
/ dispatches to Wa shngton from Gov. Pickens,
in this city last week and returned home Satur-
day night, having purchased in this city and st.
Louis AZ 600 barrels OF pork 1000 casks of bacon,
and several thousand bushels Of corn for the indie
pendent army. These provisions going
| forward, via Nashville, daily.
| New SUBMARINE TELEGRAPH.-The Government
| of Buenos Ayres have brought forward a
measure. authorizing them to conclude
tract for the construction Of a submarine tel
| egraph from Buenos Ayres to Montevideo, guaTan-
teeing six per cent upon capital of $3.50, 900 sill
for twenty years. for which, also, the contract
| ing party is to have the monopoly of submarine
telegraph between those points.
| A recent English paper, in an obituary notice,
states, with solemn gravity, that the deceased
notable "fOr the active part he took in the manage
ment of the society for the preservation Of ancient
| footpaths," and for the fact that he was "Secre-
tary to the Beer sellers Association" both of which
Pickwickian titles the writer seemed to think con-
! ferred upon their holder passport to fame.
! The Seeded STATES When Admitted. - Only
! two of the seeded States-South Carolina and
! Georgia-were original members of the conrederas
| cy. The others came in in the following order:
| LOUISIANA .'''..'..''.''' ''Aprl ., lSl2
Mississippi............ ...,....D Dec. 10, 1917
| Alabama. Dec. Il, 1878
| Florida. ,......,,......, Mar. IS 1Si5
| TeXas.........'''., ...,'..',,.Dec. 49, lS45
A st. Louis letter in the Salem Register dated
| Feb 5, says: " Judge Bates has Just returned
no such thing as secession; there may be war dis
tress, the upheavng of business and financial afairs
but there is such thing as secession or a disso-
luton Of the Urion.'"
Five spans of the long bridge which crosses the
| Susquehanna River, at Dauphin, were blown
away during Thursday night. Each span contains
has been destroyed, causing a loss to the Company
of $4,000,
There is said to be family at Halifax Centre,
| Vt, consisting of a father Sc years of age two
sons and two daughters, all of the children being
deaf, dumb and blind, and yet they manage to
carry on their farm, gaining respectable living
therefrom.
The ship Panama, Captain Soule, of New York,
arrived at Liverpool the 2lst of January in
eighty-si DAYS from San Francisco. She reached