York for foreign ports, of some of the leading articles of produce, from January 1st to September 20th : What the future demand for our breadstuffs, from Europe, may prove to be, it is, of course, at present, impossible to determine; but our own impression is, that we shall be called upon to furnish large quantities of prime wheat and flour for English markets. The crop there is not only less than was anticipated, but it has also suffered in various places more or less seriously from blight, which has materially injured the quality. For some months succeeding the harvest, it is probable that large quantities of poor wheat will be pressed on the market there, and produce a glut of this quality. But there must even then be a demand for prime American wheat to mix, and after the stock of native wheat shall be redueed, we may look for a steady trade in American cereals at fair prices. It is not desirable that prices should rise enormously; this would not only lessen the consumption, but would also interfere with the demand for cotton and cotton goods-a trade which is, after all, more important to us. Much interest is felt in regard to the future course of our foreign trade. Some look upon any increase in this direction as another step in the road to ruin; while to many, it is but a token of increased prosperity. The month of September will show a larger total of imports than the corresponding month of last year, although not suflicient to make up for the falling off during the first six months. The returns are not completed as yet; but sufficient is known, to show that there will be an increase. The exports, however, will show a still greater increase; and if new cotton continues to arrive freely, there will be no lack of exchange. The bids for the Pennsylvania loans have been opened since our last. The offering was less than anticipated; owing to the complicated character of the invitation extended. Had the State confined the proposals to a 5 per cent stock, there can be little doubt but what a higher rate would have been realized. Of the $5,000,000, but $3,000,000 were taken, by C. H. Fisher, Esq., on foreign account, as follows: $400,000 5 per cent at $30 premium for every $1,000; $520,000 at $12 80; $520,000 do. at $15 37; $520,000 at $17 70; $520,000 at $20 20, and $520,000 at $22 70-an average of about 2 per cent premium. The Pennsylvania R. R. loan, of $3,000,000 6 per cent, was also awarded to the same party, at a premium of 3 per cent. The month closes with a better demand for money on the seaboard-the banks in the interior having drawn down their balances. JOURNAL OF BANKING, CURRENCY, AND FINANCE. THE ENTIRE PRODUCT OF CALIFORNIA GOLD. We are indebted to Messrs. HUSSEY, BOND & HALE, of San Francisco, for a copy of their semi-annual circular for the six months ending June 30th, 1852. It is evidently prepared with care, and contains a variety of statistical tables of great value in a commercial and financial point of view. The subjoined estimates of the entire product of gold from 1848 to June 30th, 1852, is given in the circular alluded to above; the authors of the circular regret that the data for their estimate is so imperfect. They have given to the subject close investigation, but the table is necessarily approximative. So far as actual data can be had it is furnished, and their estimates are predicated upon such facilities as residence in the country of production, and constant careful observation afford : ESTIMATES OF THE ENTIRE GOLD PRODUCT OF CALIFORNIA. Manifested shipments to U. S. ports in December, 1851, which did not reach the mint in 1851 .... Importations into Chili in 1851 by official returns from that country...... Shipments per steamers in 1851, on freight to $3,600,000 $2,372,000 Total estimate of exportation to foreign countries in '51 9,772,000 The early foreign trade to this was very large, particularly in 1849, from Pacific ports. Remittances in this early trade were made chiefly in gold dust. The aggregate shipments to foreign countries for 1848, 1849, 1850, is therefore assumed for the three years to be as large as that of 1851 Total estimate of exports to foreign countries to December 31st, 1851, which would not reach U. S. mints....... $44,177 6,147,509 36,074,062 55,938,232 2,910,214 9,772,000 19,554,000 120,658,194 Estimated amount taken over land to Mexico and by passengers to Europe, East Indies, Australia, South America, (exclusive of Chili,) manufactured in California, and United States, and otherwise, retained by individuals leaving the country, and therefore not represented in the mint deposits, say 5 per cent on above................ 6,032,909 In hands of bankers, merchants, and traders in San Francisco, per tabular statement prepared December 31st, 1851... 5,000,000 In circulation--gold dust and California private coin, estimated at $20 per individual, and population estimated 212,000...... Estimated half months yield at mines not brought forward December 1851-say. In hands of bankers and traders in other parts of California and 2,500,000 2,500,000 4,240,000 Estimated product to December 31st, 1851...... $140,931,103 33,849,774 Total estimated product to June 30, 1852.. $174,780,877 SHIPMENTS AND ESTIMATED PRODUCTS OF GOLD FROM JANUARY 1ST TO JUNE 30TH, 1852. The authentic materials of an estimate for the production of the six months ending June 30th, 1852, are limited to actual returns of the agents of the several steam lines and other amounts manifested at the Custom-house. The amounts taken by passen gers and not manifested must be assumed. As an evidence of the importance of this item, we give a comparative statement of sums manifested at one Custom-house corresponding with those deposited at the several mints of the United States during the early part of this year, namely: Manifested shipments to United States ports from January 1st to April 18th, 1852, were.. Manifested shipments in December, 1851, which would reach the mint in January 1852.... Total amounts manifested for United States ports from December 5th, 1851, to April 18th, 1852.... $9,834,203 2,910,214 $12,744,417 This amount would have reached the mints in the natural course, during the first five months of the year. The deposits of California gold at the several United States Mints during these five months were, however, $20,773,000. Showing an excess of 60 per cent over the sums manifested for the United States ports, which were due at the mints during those months. A statement published in 1851, also shows that for several months the receipts at the Philadelphia Mint were nearly double the sums entered at the Custom house in New York, during the corresponding time. It is a well known fact that nearly all home returning passengers take more or less gold. We have ourselves known of as large amounts as $5,000 to $20,000 (in one instance, $80,000) having been taken in luggage to save freights. Manifested shipments as furnished by the agents of the Pacific Mail Steamship Co., from January 1st to June 30th, 1851 For United States ports, via. Panama. For other countries, via Panama.. $16,825.947 Manifested shipments as furnished by the Agents of Vanderbilts' Line. Total known shipments in 6 months..... Add estimated amounts by sailing vessels not manifested, and sums 2,969,514 $19,795,461 419.000 300,548 $20,515,009 1,025,765 12,800,000 $33,840,774 PRODUCTION OF GOLD AND SILVER IN THE WORLD IN 1846 AND 1850. The London Times publishes the following statistical tables and remarks on the annual supply of gold throughout the world, prepared by WILLIAM BIRKMYRE, “with much industry and care." In a letter to the editor of the Times, Mr. Birkmyre says, "The tables of the produce of gold and silver, I have drawn up from original authentic sources. I have investigated the subject during the last four years, and have consulted every accessible authority, both English and foreign :”— COMPARATIVE TABLE, SHOWING THE ANNUAL PRODUCE (APPROXIMATE CALCULATION) IN VALUE OF FINE GOLD AND SILVER FOR 1846 AND 1850, THE FIRST BEING TWO YEARS BEFORE THE DISCOVERY OF THE RICH DEPOSITS OF GOLD IN CALIFORNIA; THE LATTER TWO YEARS AFTER THE DISCOVERY. Total produce..... Those marked thus (*) are exclusive of China and Japan, which produce large quantities of gold and silver, the amount of which is quite unknown to Europeans. At the beginning of the 19th century, Baron Humboldt's estimate (Essai Politique, tome 2, page 633) of the annual produce of North and South America, was 17,291 kilogrammes-46,231 lbs. Troy of gold, and 795,581 kilogrammes-2,131,770 lbs. of silver; value of both metals in dollars, 43,500,000, equal to £9,243,750; the produce of Europe and Northern Asia at the same time was 4,916 lbs. of gold, £250,593; and 199,298 lbs. of silver, £657,683. Total value of the precious metals raised in America, Europe, and Northern Asia, £10,152,026. In 1801 the quantity of pure gold produced in America was.. -55,910 lbs. British standard gold=£2,612,200. .lbs. 46,331 4,916 51,247 In 1846 the quantity of pure gold produced in America was. Total produce 805,950 Total produce 125,108 lbs. British standard gold=£5,846,772. In 1850, the quantity of pure gold produced in America was.. -399,247 lbs. British standard gold-£18,654,322. The above quantities are probably less than the actual production. The duties on gold in Russia, on the produce of the private mines, are heavy, varying from 12 to 24 per cent; in Austria, they amount to 10 per cent; in Brazil, to 5 per cent; and are understood to lead to a great deal of smuggling. In other countries, such as the United States, where there are no duties, the gold and silver stated in the table are only the quantities brought to the mints to be coined, there being no means of determining the quantity used in jewelry and other arts and manufactures. The above tables, imperfect though they be, will suffice to show that the produce of gold in the world has greatly increased in the last few years. It would appear that it has risen from 114,674 lbs., in 1846, to 365,950 lbs. in 1850. In those five years the increase has been at the rate of 219 per cent, while silver has only increased from 1,979,084 lbs., in 1846, to 2,663,386 lbs., in 11850, or 344 (34.5) per cent. The former metal is, therefore, apparently increasing at the rate of 44 (43.8) per cent per annum, and the latter at 7 (6.9) per cent. The greater part of the increase in silver is in Mexico, which is doubtless owing to a variety of circumstances, such as restored tranquillity, richer mines, and greater skill. It would not, therefore, be safe to couat upon such an increase every year, but we are certainly not exaggerating in say |