Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1842-01-22
rur SCARCITY nE MONEY

There T. one feature ~ rclaii,n To nur public in.
Lebiedrc 3. ohIrh a uoty ci been 10 c Il The uis-
trust ui the sac securities thti has naturally uri-
sen ia Europe, will. Of coTrse C1usr Pie return Of
same ,fhiel 10 his country for sale. IL yIli bc thu
mDsl natural consequence of the present course q.
policy of Spne VI llo IN lcbted States. and the rerk-
less indrH renee 81 the L1cof,cp PARTY To the credit
al he Sale, that many hold srs will be anXi ius o.
realiug on Va IT stnc' :, which are now salsabIe, aud
even o. ftose which are depressed. and avoid fur
Ihcr risk. Tni.h IS been done already in some ga
scs, AL is equivalent, n Ear rs we are concerned to
I c same additional amount of imporiaIipn. since
whatever is obtained for them must be remiited to
tic holders.
We alluded. the other day. 20 the impression lhar
hiss been creaicd, that the immediate cause of The
scarcity uf money here is owing tn n large loan
m1in 10 tho G. Tvcmmeui by iNp ofIhe leading b inks
The amount Iaksn hy them i sm1Il, cpmplred with
what has been asserted by Those who have assumed
to be inlrunsl Oh the subject, and WIN are willing
TO ascribC ihs pres nj distress Ia my hing bat The
trae cause. Tar krl vesy little 10 10 with it. since
a par, was male al the rate uf > per cent. when
m'.ey could MT he loaned AZ s per cent. AMI il was
chiefly nag,,i,tcd when money was comparatively
plenty: and II Ihe Government securities had moi alb
s1TbeJ q. SKI u.hprs wunld. Besides, a. the sum
dus iplncI 10 thc Government remaIns in The Coun-
try. % could have Produced 40 general sensation. ..
ven had q been much larger; il might have affected
"a ~ lhs CIT. bra moment. but 70 would have Gre
sIcd a corresponding plenty elsewhere and the rate
would have been speedily equalized.
The present scarcity j. general. aul, AZ we have
said. Is wholly owing 10 tie drain 81 spccie to pay
our balances, abroad. That ti.cse balances are ere
ated 10y UverImPnuaiIpns.dDcs not admu of dtub'.
When we lojk at the amount Of gQGJs. brought
ont. IN anticipation OF THE duty levied OF silks. Ian.
ems, wines. SC. at the Extra Session. and the large
orders given 90 consequence Of the successful bust-
ness ofrAc Spring & Aptumntie prucccds Of which
IRE now arriving, and 10 process Of beinl paid for
when We see the amount of cotton and other exports
going forward. smaller than last year. and selling
az lower prices, We learn The whole cause.
Had Iiuol been Tor the loans obtained abroad on
Stale Stocks, and State securities which have ms
wcrcd the purpose of specie fOr the last four years.
the present dram would have taken place before .(or.
excepting last year VIC have regularly over-import-
ed. The balance againt this country has been "a
pidly accommodating. AMI the present panic abroad.in
regard 90 our securities, has entirely PIT an end 10
Grher loans. Things have come 20 The condition.
that we must either pay 10 specie or produce. OF
manufactures but we may exhaust our supply Of
those Kinds pf prduce that are not so heavily taxed
abroad as io prevent their eIporiation-we maysend
all our manufactures thot can he spared. and still q
balance will remain. Syccie We cannot ieni. with.
out increasing the present scarcity. We have al
ready Iusi ton much What alternative. then. re-.
maiusl The only one Is % diminish The Imports.o to
keep them where They are. until the growth Of The
country shall require lhcm.
Gao Ibis be done. by the present course Of policy
OF fIe opposition T1ry who has lpagued themselves
with iho free ;fJdc party Of the SJuthi Can nc con-
time 10 DuFgT nc hroU Ouy porte open 10 sUrry uotog.
10 ~ q Hs vs NE rsffsc ofhsir ov1 gigHod 0tarkssy
Wc ranuotrrlud zoe drain That Will cume upon a..
q English cOIicns and UUIleus. merely. arctO te adj
united on a duty Of 90 per cent.
Wc have a heavy deb. Co settle, besides thst fr
our rmplrianuns, We owe Co Europe debts Of at
least POO millions ~ do'I1r. which must be paid as
they hil jnr. Hr $50 must follow tie example II The
Stale Oh, . %. nnI r~opudfaie Them. % our ev.
cling dsauea. I.Ifsr DEBTS W. yEvFn SHALL
rsuL vs.. rar eE MORE AND ruF0Hur Ivss.
tra vo r., kud of % c]JnliIpr. now. O, tsik a.
.. cow rtrfrF' ~ 1us n lime o. depress our
.a.es. Which. hoside5 uspp yi1g the place oil
3rrigu lufcIcs ium.sh q large amount 6r erpor-
j. th- "a Ums 10 encourage mpDf taiiou b. lOu d..