, 1872-11-08


foundation the fact that the company is unabl,
to meet it's maturing paper. Its assets, though
equal to its liabilities, are not available, and
sitter paying so cents On the dollar it will requir.
an extension on the rest.
MOVING AWAY FROM EPECE PAYMENTS.
The financial policy OF the Administration, il
it has any, ia directly away from resumption o
specie payments. This is shown both in tht
recent expressions of the Secretary OF the Treas
ury, and in the present operations Of the mint
In one OF his recent speeches, dir. Boutwell,
said:
II We resume specie payments, this amount OF
than either cotton for export it would go out
Of the country in Of goods purchased abroad
and not many months, probably not many weeke,
coin. > ~~~e~ '~>0 ~~@'''' '~'1~ ~ >'e0@'''@'' N'
Here is an assertion on the part of the Chief
financial officer Of the Government which liB-
plays such incurable wrong-headedness that it
is wonderful his mal-administration OF finances
has not damaged the credit Of the county more
than it has. How gold Is to be made cheaper
by resumption Of specie payments NE defy
anybody to explain. The same amount OF cot
ton or corn would not sell for any more gold
after resumption than now. The value Of gold,
as compared to commodities, would not
be. effected at :. all by resumption.
But whatever MIR. Boutwells idea
may have been on this point, he clearly commits
present operations Of the United States Mint are
also in the same spirit, viz: On Saturday, the
9Th instant, the mint at Philadelphia COM
meneed melting the first instalment Isl, ,000, ,0oo)
of grand total OF SEQ, ,000 600 in one dollar gold
pieces, which ere all to be melted up and re-
coined during the next fer weeks. It is claim
cd that these pieces are Of inconyenient size,
md, though there is some force in this argu-
ment against them. the one dollar gold
pieces would bo much more likely to
circulate than the $40 gold pieces into which
they are to be recoined. Tho latter are much
more open to the general objection Of incon-
is urged in behalf Of the recoining, that the
loss by abrasion on 81 gold pieces is greater
than on $40 pieces, and the loss on million
81 gold pieces aincs 1S49, when the 81 .,ieces
were first issued, is set down at 81. 405. In
other words, tho S2oooo.Qoo have lost
while the loss from abrasion on
$4,000, 600 Of double eagles would be much less
But this would only show that the 81 pieces cir
culate more freely than the double eagles, and,
il the fact of greater loss on the 81 pieces we're
well established, it would have tendency to
keep them in circulation. while the double eagles
would be boarded. Even if paper-money was at.
par with coin, the double eagles would not cir
even # papeT-money was one or two per cent
discount. The tendency Of the mint operations
is, therefore, against coin circulation.
FINANCES IN CONGRESS.
It is intimated in some quarters that one of
the financial measures to be discussed in the
next Congress, is some sort of g National Saw
ings Bank Law, which ehan provide for the in
yestment OF certain proportion Of the funds in
United States bonds, and thus furnish place
for the new ~ and per cent bonds.
FoRE1GS COMMERCE..
Monthly report No. II, Of tho Bureau Of Sta
tistics Of our foreign commerce for the eleven
months ended, May 81, 1872, as compared with
the came period Of 1871, is as follows:
Mss 2sss Ss 81 ass
II noa., May s1,1. 4so22sea2 47,a5s,o)7 26,24,440
The amounts in specie values Of theforegoing,
which consisted Of specie and bullion, and Of
merchandise respectively, for the II months,
were as follows:
s2e and pul {1s72. sisS5s q s5s,7s5,ss5 ss5sss
Aerchande
The value Of foreign commodities remaining
in warehouse May 81, 1872, Was S107, al ,2G0, as
fooWng aIe tha Tanes
ried IN American and foreign vessels, and in cars
and other land vehicles, Respectively, for the
eleven months ended May 81, 1872, and May 81,
1871:
Aneriea9 ts vessels 711 e s. fs' z
Foreign vessels. IL ota,19s s45,44sa28 n,4895lo
Land Tehielss.... e l6,6o2o32 6,8l3,3s8 3,249,6os
Esssen ssa 2sssiss:, ES5ss's s. iSss;;s s5 1{7
NEW STEAMSHIP LINES.
The Increase Of steamship lines is remarkable, |
though few Of them arc American. In Philzdel- |
Phia line Of four steamships-the Ohio Indi- |
ma, and Illinois, and one other not named yet
are building to run to Liverpool. The trade be- |
tween the Mersey and the Mexican Gulf ports is
oally increasing, as may be concluded from the |
fact TINT nearly every week there is increase
N the number OF chips leaving Liverpool for |
Texas; and, in order to meet the requirements |
Of the trade, l1essra. c. Grirnshaw a. Co., Of
Liverpool, have just started q line of new steam
ers between the Mersey and Galveston. The
San Jacinto is the pioneer OF a feet Of steamers
intended to trade between Liverpool and Calves
ton. Messrs. Mcmillan will launch sister ship
for the came owners; the name Of the new yes
sci will be San Antonio. The San Jacinto will
leave Liverpool on her maiden voyage on the
Goth Of November, and will be followed by the |
San Antonio.
It is also stated that the preliminaries have
been arranged for the formation Of a steamship |
company in London, IN cooperation with the
splendid fIEt-clase, fust screw steamships, be-
tween San Francisco and Sidney, N. S. ", MA
Honolulu, -Nayigators' Island, and Morton Bay,
Queensland. A branch steamer is IN
Auckland, N. e., to carry tho Now Zealand mails
and passengers. The plan Of the company is to
charter the necessary number Of steam
ers at once, to a inaugurato' the
shanshao August II, arrived on the '2sth inst.
She came by way Of the Sucz Canal, and brought !
about 50. 600 packages Of teas, or between 1000
and 5000 tons. This is the fifth steamer that
has arrived at this port with tea via tho Suez
Canal, and the total quantity landed is estimated
to be about L, 900 tors. The freight charges on
tea by this route amount from about to 10 !
cents per pound. With better facilities for !
transportation, most Of tho tea would come over
land but the rolling stock Of the railroad is in
adequate to the demand, and hence delays occur.
REAL ESTATE.
The following instruments we're filed for record |
on Thursday, No7.7:
CITY PROPERTY.
Lot 16 in Block 49, Holstein, dated Oct. % cousid
grafton, $500.
Letl7 in Block Is, Holsein, dated Oct. o2 consid-