Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1821-04-13
DEGENERATION Of Cifu O&cers

appointment
John Adams Mayor.
William u fie - hylsonn. Recorder.
Samuel McCtas Senior alderman.
hL1EaMES for Jefferson Hsrd John II. Fustare,
Meha,d a. carriug' n, John nuihtrf1efs. For Ma.
IaaeWeil.. For BfOnroe Hard Jshn Godd,n, chI.s
topher Iompsin,. aud Martin DIewy-
Tue 'her gentlemen elected VI course Constitute the
Common HAL
These have selected Dr.. WIN. FoasRee, President.
Aud Naihad'si Shsphsrd, Cham1erIaie.
Money, Stock asd Exchange Ur1ets.
The money, stock and exchange OiaIket il
III very singular state. CAPITAL was uever
more abundant, IN proportion 10 the emEiJy
mrnt Of it. FRONT never was so small aud of
coarse tue interest OF money pever was 20
low. Without entering into the minutiaa of
monIed transactions which are daily psusin:
here anu elsewhere, take these twp important
facts (; The tonT million !oaU az per cent
mas been fak m by The II. y. Bank at d premIs
nm OF pei cent that - 10 say. tue govern,
meni OF the US. which has been on TWO oc,
caio1s puzzled TO get money az OF 8 psI
cent. is row able 10 borrow mouey, not ouIy
al PEI cent iuteTest but ~ 4 uTsmiHn OF 8
pei cepl. besides tor example, eacb Ger.
titcaIe OF o per cent stock dsitVeyed To the
bank orin.s 10 The government S los Had
the Bank been tue only bidder, IL ~oulJ OF
c0nrse nase mad mnch better bargain bit
II very well knew that there was a great
deal OF private capital unemployed, which
w0uld have been pushed on the governnant
al per c.-and II was therefore necessary
for the bank TO cont down il lis Terms 10 com.
maud the loan. Th, 2 fac' -, the alacTity
with which ih3 new banz 10 N, y. (fuy River
Bank has heen flied. On would have sup
posed that there is all eady great excess OF
back stock in NeU York nut nOtwitnstand.
Ing its reduced dividends, there were 40 IN .uv
private funds III search If aU Investment mat
the books of the new bank might have had .
millions subscribed np-D them instead OF
500 900, which was all that was wanting
Another interesting DhenonenOU In the
stock market ia the sudden and considprabIe
rise in the priCe of the u. :. Back stock
Whether IL is the idea that the Ba K has Inhde
n great bargain 10 the fOar nIiiIOu IOaD, or
that the speculsiors are again al work bio y.
ing up Inc bubble or these causes Operating
together the stock is nos Iup up to IN aud
lis. The value of stock of course in general
depends upon the interest waiCh u will briDg
yOu-but ask what this bank 10 Xix ely TO di-
vide iu July "a has made TIC dividend for
some t,noe,) aud there is 10 one bryi0C who
il able 10 Inform you.--IleIe is one pecnli4I-
ity about tits stock Exchange Oh LoUdou
is ps nigh az 1913 .which is principally owing,
In the low price of our produce abroad now,
Instead OF buyins bills at this advance. Iner-
chants aud others occasionally resort 10 a, )
bank stock as a neaus Of remittance. This
circumstance 10 doubt contributes IN some
degree TO kaeP up The price % stock though
ii tue dividend shauld turn OUt To De snisii, ~
other means should be slTuck out Of employ
ing the surplus idlg capital in tie conutty,
tie buyers may agaia be bit, as they wee
two or three yeas agU,
Cen h,s state of The Dohied market long con-
tinue hleuseem at loss what 10 30 ~ make
profit upon their moucy--P TodOce sbroad
is 10 Iow commerce is sOlaUguishiDg agsicuif
tufe so tnli, tbat many hrs nDt willing 10 iU'
vest theif luuds in active bnsiUess.--Aud yet
this is tie moment vben some arc crying out
foi an addition ~ the taTitf-as IL tbs Ljgt
rate Of exchange, 80 wall calculated 20 DIS
courage the IwPortat ,onof foreign gaoG5, and
lhe abundance q capital, seeklng los employ.
ment aud deIighting even in low profit wefs
net tie very circumstance 20 encourage ina
nuiaciUTes upon prudent scale.