Specie in New-York, London, and Paris-London Markets. 499 Now it results that the high prices caused by accumulations of gold at financial centres, stimulated the production of all other articles, and put them in motion towards those common centres; hence the rise in freights and great activity in transportation everywhere manifest. The result of this would necessarily be a drain of gold from those centres in a more rapid ratio than ever before. Because as gold, by raising prices, put in motion every branch of production, so all these branches once in motion would react upon the gold with redoubled force, or in the proportion of the value of all other articles to gold. Thus the receipts of gold in Great Britain, by a recent report, were for the last six months of 1852, £11,146,000, say $50,000,000. At the United States Mint they were $30,000,000, and the reduction in the banks as above is $34,000,000, making together $114,000,000, from which should be deducted the quantity sent from the United States to Great Britain in that time, $7,000,000, and there remains $107,000,000, which has gone, whither ? The supplies of gold in Great Britain and in the United States were, for the last six months of 1852, as follows: In England, from Australia.. Total........ 6 1 0 0 16 6 003% 028 255 0 0 10% 3 10 0 310 0 003 2 13 6 17 10 0 $21,475,732 23,994,180 $45,469,912 Of the quantity received in the United States about $7,000,000 went to England, and has thence, in discharge of the large quantities of goods purchased and consumed by England, been distributed throughout the world. As gold has become comparatively cheap in England, and left it for other countries, its export thither from the United States has gradually fallen off. The reason of this appears to be that the inflation which causes gold to leave England and Western Europe, not only checks exports to this country, but induces continued exports of those articles of produce, for which they are our best customers; that is to say, although there has been inflation here it has been greater there. The efflux of gold from Paris has been larger than from England, reaching $24,000,000 since last June; if we look at the table of discounts by the French Bank, we shall observe how much more rapid has been paper expansion, fomenting those immense speculations of which Paris has been the theatre. that the discounts of the Bank of France, discount from two to three per cent, Jan. 13, were f.316,000,000, being an and all the discount houses give notice increase of f.42,000,000 on the month; that 134@2 per cent. will be the rate and that to check the flow of gold out- hereafter "at call," it is quite time for wardly, a great curtailment in these the banks here to "snug ship." items must take place. The first effort of the screw was the fall of pig iron from 80s. to 60s. or 25 per cent. Now, simultaneously with the expansion in those two banks, the institutions of NewYork raised their loans from sixty-four to eighty-five millions, and this enormous expansion here was sustained only by the expansion there. Hence when production was. the London Bank increases its rate of The efflux of gold is no doubt but temporary, the mere effect of going a little too fast, whereby a slight re-action is given to the progressive depreciation of gold as compared with other commodities. The impulse caused the gold to distribute itself over the continent a little faster than the mines produced it, great as that FACTS AND CONSIDERATIONS WHICH RECOMMEND THE ESTABLISHMENT OF A LINE OF STEAMERS BETWEEN VIRGINIA AND ANTWERP. Wheat Indian Corn Flax-seed Tobacco... Agricultural Productions of Virginia as per Census of 1851. .bush.....14,516,950.... at $1.00 66 66 value....$14,516,950 00 17,769,989 00 58,666 30 3,990,989 52 66 Butter.. 66 ..11,126,785. 66 16/% Wool 66 2,850,909. 66 30 73,434 30 34,758 00 5,922,832 00 Hemp, dew-rotted. Do. water-rotted. Cotton.. Wine... bales, 400 lbs. each.. 2,767 66 30 00 207,000 00 114,900 00 83,010 00 Live stock. Home manufactures 4,280 00 33,607.362 00 2,156,073 00 5,000,000 00 $86,249,314 00 Cord wood, Oysters, Fish, Peas, Beans, Potatoes, Garden Vegetables, Fruits, and Melons, estimated at not less than.. Amounting in the aggregate to........ The average difference in the market value of these productions between Virginia and New-York is, at the lowest estimate, 10 per cent. in favor of the latter. To that extent, therefore, Virginia sustains a loss upon that portion of them which is consumed without her own limits, whether by her sister states or exported abroad. This may be safely estimated as follows, viz: Of wheat, one-half the quantity raised, value. Of Indian corn, one-fourth.. Amount brought forward.... $1,686,145 74 Which, added to the foregoing, exhi- 4,163,371 39 $5,849,517 13 These estimates, founded upon the late census returns and such other reliable information as could be obtained, are believed to be sufficiently accurate for all practical purposes, and to fall below rather than exceed the actual loss which a more rigid statistical analysis would exhibit. For want of any certain data by which to ascertain it, we can only approximate the amount of loss sustained upon the domestic consumption of articles brought Virginia and Antwerp Line of Steamers. into this state from elsewhere. It is believed that of such articles we consume an amount in value fully equal to that arising from the sale of our own productions, viz: $16,861,457 43. Upon that amount the controlling influence of New-York before mentioned equally operates, and consequently produces the same depreciating effect. We may therefore properly estimate 501 senate by the select committee, and its ultimate effect in opening and promoting our direct trade, have applied to Congress for aid in the construction of a line of steamers between that city and some port in Belgium. Not content with the monopoly of nearly all the existing lines of our foreign commerce, that grasping city seeks with eager haste to pounce upon and appropriate to her own ex the loss arising from this cause at $1,686,145 74 clusive benefit, or to break down by To which may be added for profits to the Northern factors, and incidental charges, at least 12 per cent. more. Making the whole loss upon domestie consumption... Add to this amount of loss upon productions, as above. And it exhibits an aggregate annual loss of 2,023,374 89 opposition, every new line sought out and suggested by the enterprise of others. For want of the necessary statistics, 3,709,520 63 nothing is said about our loss upon the value of the mineral productions of Virginia, which, it is believed, amounts to several millions more. 5,849,517 13 $9,559,037 76 If the foregoing estimates are correct, they show clearly why it is that the Virginia merchants cannot, except to a very limited extent, import directly from abroad. The merchant of the North enjoys an advantage over ours of at least 12 per cent. additional profit (6 per cent. on the export and the same upon the import trade)—a per centage more than twice as large as that usually charged by the import dealer upon the cost of his goods. This gives to him an absolute control over that entire branch of trade. The great benefits resulting to the northern merchants from our present commercial vassalage is fully appreciated by them, and hence their constant and vigilant efforts to retain it. No sooner had Virginia begun to move in this matter by the call of a convention at Old Point, for the purpose of considering the best means of promoting our own direct foreign commerce, than did those merchants commence the construction of five first-class steamers to ply between their port and ours. This could only have been done to prevent the achievement of our commercial independence, and secure to themselves the continued enjoyment of their present monopoly. But this is not all. Within the last two weeks, citizens of New-York, no doubt stimulated by the apprehension of the passage of the bill for establishing a line of steamers between the waters of Virginia and Antwerp, reported to the Will Virginia continue to remain passive, and rest satisfied with the present effort to change and improve it? Great ruinous course of her trade, without an as are her resources, can she sustain so heavy a drain as from ten to twelve value of her productions every year ?—a millions of dollars depreciation in the sum more than sufficient in three years to off her whole debt, and perfect all pay the great lines of internal improvement necessary to develop her own resources, and invite the commerce of other states through her borders. The bill above mentioned proposes to stop that drain without either charge or risk to the commonwealth or her citi zens. Will she not avail herself of the opportunity thus afforded to accomplish an object so imperiously demanded by the best interests of her citizens? Before another so favorable can ever be presented for her acceptance, New-York will have stepped in, pre-occupied the line, and secured to herself forever all its benefits. At the present time, nearly all of the mails of continental Europe pass through England and on to New-York. The direction of trade ever follows the line of postal communication, and for that reason mainly is it that the trade between this country and Europe now centres at New-York. Let a direct communication by steamers be established between Norfolk and Antwerp, and we shall at once secure the whole of that portion of the continental mails which come through Belgium, embrac ing a population of more than one hun- Oats.. Rye Butter. Lead Bacon Wool. 340,462.. 1,149,783.. 2,596,231 ..lbs. 5,365,708.. 2,354.277.. 3,989,917 .bales. Broom Corn Hides ... Iron... Tobacco...hhds. 51,604.. 61,823.. 45,172 1,066.. 2,139.. 3,598 472.. 310.. 77 112.. 375.. 789 Coal.. Staves Cattle No. 18,652,890..10,696,006..12,998,614 97.697.. 111.223 18,906.. 16.590 8.594.. 15.926 dred millions, and sweeping over a territory containing some of the finest Barley agricultural and manufacturing districts in Europe. And besides, in a short time we shall obtain a good share of the residue, for the following reasons: 1st. The inward voyage from Liverpool to Norfolk is from eighteen to thirty hours shorter than it is to New-York. One day will be thus saved. 2d. Another day will be saved in escaping the detention incident to the transit through England. The saving of two days in the transmission of intelligence, at an era when time enters so largely into the computation of all business operations, would of itself be controlling. But when we add to this, 3dly, the further saving of the onerous charges now imposed by England upon the transit postage through COMMERCE OF HAVANA.-The Diario that kingdom, it can hardly be doubted that the Virginia and Antwerp line will de la Marina, of the 1st inst, contains in a few years after its establishment full tabular statements of the commerce transport the largest portion of the mails of Havana for the year 1852, and, also, between Europe and this country. comparative statements for several preWhen this is done, trade will neces- ceding years. The products of the sarily follow, and the great seaport of island registered for exportation at Virginia, being the centre of commercial Havana, for twelve years, are as follows: intelligence, must become also the centre of commerce itself. No longer de- Years. pendent upon New-York, Virginia will 1852 then be the recipient of the benefits of exchange and other commercial profits, instead of paying them to others, as she now does to the amount of nearly twelve millions of dollars per annum. Buffalo Robes.bales 1845 1843 1842 1841 773,043. 35,711.. .2,198 .427,947. ..1,081,468.. .37,459....2,643 346,890.... 742,570....42,909....1,984 In addition to the above, there were registered during the twelve years, 1,911,340 M cigars, and 27,113,473 lbs. of tobacco-for 1852, 175,559 M of the former, and 3,172,577 lbs. of the lat ter. Of the exports for 1852, the United States took 196,485 boxes of sugar, 66,548 arrobas of coffee, 36,712 hhds. 60,669 molasses, 143 tierces honey, 345 arrobas 76,679 of wax, 391 pipes rum, 731,125 M eigars, 5,099 and 841,160 lbs. tobacco. 40,005.. 33,261.. Whisky Corn Meal. Seed 11,830.. 31,559 The entrances and clearances for 1851 12,818.. 7,686 6,814 and 1852 were as follows: 1,509.. 1,176 1851, entered 1,934 vessels, of these 623 Spanish. cks. 17,339.. 13,721.. 14,522 1852, 64 1,758 .bush. 3,608,261.. 4,260,004.. 5,549,778 1851, cleared 1,865 66 1,789 2,521,149.. 6,080,330.. 5,136,746 1852, Lake Imports-Commerce of Havana-Fisheries. THE FISHERIES.-We give below some interesting statistics relative to the fisheries, which are taken from the invalu 503 able forthcoming work of Hon. Lorenzo Sabine, referred to in the annual report of the Secretary of the Treasury: Statistics of the Fisheries of the United States in 1840— General View, showing the Produce, Men, and Capital Employed in each State and Territory. States and Territories. Maine New-Hampshire Rhode Island.... 54,071... 1.714. .124,755. 1,024.. 15,234 633,860 1,384. 5.. Maryland 71,292 Virginia South Carolina. 425 |