Loudon free press. (Loudon, Tenn.) 1852-1855, 1853-11-04

MONETARY AND CoMMERCiAI 1fr,,ps-
have been permitted to make afollowino ex.
tract from a business letter, addted nv one Of
the largest commercial houses New York To
the President of the Virginia nd Tennessee
Railroad.
"Opinions necessarily vary w mucch up6n
the present and future prosped If business
but cannot think, myself, that ntters are like
ly to weara worse appearance o. we have al
ready noticed. 1t is the wants confidence.
more than the want of means, al creates the
present stringency, and if it wernoss;ble 10 ar
rive at an accurate estimate of,e amount of
capital actually floating in the cutry.. as com.
pared. with its existing engaging. think it
would be found that at no previs neriod was
the trade and commerce of the Sfes based on
a sounder footing than at the preat time. The
/ constant oraln upon the bullion the bank of
England is certainly a feature to scite uneasi-
ness-iahd while the money mart i'm London
continues so stringent, similar Ste of things
will no doubt be felt here A faVable re.ac-
ton, however, think may with rem be antic-
/ ipated in the course of few mons. notwith-
| standing the necessity of large ihortation of
breadstutfs into England to supplyle defcien-
/ cy of 100000 qrs. which at 30 sings per
or. at the shipping port would occion an i'm
port in value OF 9l2,500,000; WHO although
"a large sum, seems after al l!ssesTpsidablc vixen
compared with the eestI s n1ea as,,t,sonntry val
uedIat 200, OOOO esrwar'di anu y eovef, it is
not to.LSssnfs-eein ". s. khssent
TO pay IOr BfedStuifS. Man
nfactured goods will form d lase item; and al
though bullion will 20 in lare amounts, the
high rate of money in Londer will attract lar
ger supplies of specie from Asaalia and other
places, and in great measde counteract the
demand upon the bank of Ehland. to meet the
cost of ports.
The news by the next ma will most likely
decide the question of peace orwar, and even if
1t should be fer the latter, the eazatoa Of the
TACT will IN my opinion prove les injurious than
the anticipation of the evil itSdf Under the
more decided expectation of w,r, as indicated
blythe last mail, our stock marke Yesterday was
decidedly better: and, though high rates are OBJ
tanned Tor money, there IS no scarcity where the
security is really good.
Many OF the fancy railroad schemes will no
doubt have to succomb to the present state Of
thngs-but it is all the better that they shoald
be checked, and start again when the circum
stances OF the country warrant their further
progress. Upon the whole, the accounts by the
last mail indicate a better market in London fol
Rails and for manufactured Iron generally
The consumption of plate Iron for ship building
purposes is immense and with the StaiFordshire
makers it is difficult to get orders executed
within any reasonable time, although in many
instances 20 shillings per ton advance would be
paid by the buyers.
The views of this writer seem to us sensible
and wel-supported by any fair and intelligent
survey of financial aud business affairs. In all
the elements Of wealth and comfort the coun
try, nay, the world, was never in a better condi
ton. All the efforts of panic makers cannot
produce more than temporary stringency.
Lynchburg Virginan