The southern press. [volume] (Washington [D.C.]) 1850-1852, 1850-08-13

tatA washington City.
Step by step, with this tendency, the rate
of interest to be obtained by capitalists must
decline. There is no misrepresentation in
trade to prevent it, and no quarter Of the
world where the exchanges are likely to
| turn against us. The only questions, there
fore, that present themselves are, first, as to
the point to which the value OF money will
descend without overcoming the present hor-
ror of ill investments which involve risk;
and secondly, in what quarter the vent will
be found when the overflow Of capital shall
at last become irrepressible.
That the present state of affairs, in which
investments that yield scarcely any return,
but that require the exercise neither OF
thought nor faith, are preferred to anything
else, will vet continue for considerable
period, seems certain Railways, In the
midst OF all our prosperity, show no symp-
toms of revival, and the gloom which they
create will spread a morbid distrust until
the shareh lders shall have resolved to admit
what every body recognzes--namely, there
is no help for them but in complete reor-
ganization OF their modes Of management.
From this, and other causes, there is reason
to anticipate that the revival Of confidence
will not be sudden, and that, before it shall
occur to such an extent as to lead to a de-
cided temperance Of the spirit OF adventure,
the period may even be sufficient to enable
the Chancellor Of the Exchequer. to propose
reduction in the Government funds.
For the present, therefore, we can look
| r. 1. - 4 o,.;o+;ov ~, the ro,,tioa chan
nels for the employment Of money, and hence
there will be plenty Of time to watch the
quarters to which it will ultimately rush.
In the intermediate months, there may be a
variety Of small gambling movements in some
Of the low priced foreign stocks or shares,
but nothing of character that will not be
limited and transtory The old burns, in
that respect. have become matter Of history,
and when the general Impotence OF one ov
one and half per cent as the rate OF inter
est, shall have gained its full force, a new
field will be required for its development.
It will then be found that although the uses
Of capital had seemed to.us to have narrowed
to such point as to render it almost value
less, such an idea was inconsistent with the
onward course Of affairs, that it was, in fact,
merely the silly reaction from opposite delu-
sons, anil that although the opportunities for
the employment OF money were declining in
one quarter, they were rising up with n-
creased force in another Among many
new features, the growing wonders of the new
world on the Pacific, will, at that date, be
rightly interpreted, and it will, perhaps, be
seen that while we have thought all safe
modes Of adventure utterly exhausted, pri-
vatc individuals have been making large
fortunes by running steamers, by working
coal, by facilitating the transit OF enigrants
and merchandise, by testing new kinds of
produce and means Of cultivation, by build
ING piers and docks, and villages that are
capable of becoming cities, and by all other
occupations that are opened up whereyera
new population is suddenly attracted. 1t
will also, most likely, be discovered that the
gains thus achieved by quiet enterprise,
might have been greatly increased by a liberal
command of capital. period Of new hopes
and of rapidly increasing intercourse will
follow, and If it could be conjectured that
past experience would then be listened to,
the future might tell Of nothing but still ex-
tended prosperity.
Meanwhile, although this would De TOO
bright view, and it IS certain that just in
proportion to the prosperity to be enjoyed
will be the strength Of the mania by which
it will be abused and checked, there can be
| no doubt of the occurrence Of a long interval
before any thing like national folly in the
way Of speculation can again be witnessed
and there is also reason to hope that even
when the eight or ten years at which the
usual convulses may be looked for shall have
passed, the principles Of monetary science
will have become sufficiently ditfused to cause
the number Of those who blindly rush upon
their de truction against the loudest warn
ing, to be much more limited than it was in
| lS47. Ha l
Health OF BALTIMORE. - Notwith-
standing SO little has been done by the au-
thorites to stay the progress OF disease, yet,
so far, the city has been very healthy -
There is good deal Of dysentery and other
diseases Of the bowels, which, in most cases,
have been supeiinduced by incautiously eat
ing unripe fruits or vegetables. Great care
should he taken in diet, and no one should
drink too freely Of ice water when they are
heated. Another thing, as the patient IS at
tackled with the preliminary symptoms, send
for physician, as delays are sadly danger
Gus, and many have, no doubt, lost their