Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1853-10-31
Monetary aud Commercial Aaalrs

W hHFe heeu permitted u make tie taiisfins
ektfaet ffan business letter addressed b one II
the largest commercial houses in Nes York IL
the president Of the Nirgnia aud Tennessee Raj.
road
"ofinions necessarily vary very much upon
the present aud future prospects If business, but
cannot fiink ,mYsolf. TINT matters are likely 10
wear II woi=e appearance fhhn we have al
ready noticed. 1t i the want OF confidence, moro
ihan Tie want Of iseaps, TINT creates the present
strngeneY, aud II IL Nsre possible Ia arrive at an
accurate estimate of the slnonnt Of eapiial aeta
ally floating in the country, hs compared with its
existing engagements, | think il would be found
tint OF 10 previous period was the trade and com
neree Of the States bhsed on q sounder footing
than at the present time. TIE constant drain up
on the bullion IN the bhflk Of England i certain
Is n feature to excite nneasiness-pnd while the
money market In London continues 81 stringent
similar state # things will no doubt be felt
here. \ favorable Reaction, however, think NAV
with tenson he anticipated IN tho course OF "A few
months, notwithstanding the necessity of largo
importation 81 hrendstntfa into England To sup
ply the deficiency of 5.00D000 qrs. which At 81
shllings per or. nj the shipping port would &C
ension an import IN Ynluc of IL. 800 600, which,
although nrge sum, seems after all ineonsder-
able when compared with the commerce of IL
country valued at 30, 900 annually. More
over, 1t II not 10 be supposed tint gold alone
must be sent out from England To pay for bread
stnils Manufactured goods will form n large
item; aud although bullion will 20 in large
amounts, the high rate of money in London will
attract larger supplies Of specie from Australia
aud other places,and in great measure counter
act the demand upon The bank of England, to
meet the cost of imports.
The news by the next mail will most likely de-
eide the question of pence or war and even if il
should be for the latter, the realization Of the
fact will in my opinion prove less injurious than
the anticipation Of the evil itself Under the more
decided expectation Of war, as Indicated by the
last mail, onf stock market yesterday waA deei-
dedly better and, though high rates IRE obtain
cd Tor money there Is no scarcity where the Sc
enrity is reilly good.
hlany Of the faney Railroad schemes will no
doubt have 10 sneenmb to the present state of
thngs-but it is all the better that they should
be checked, aud start agan when the cirenm-
stances Of the country warrant their further pro-
gress. pom the whole, the accounts bv the last
mali Indicate Il better market IN London for Rails
aud for manufactured Iron generally. The con
sumption Of plate Iron for ship building purposes
Is immense, and with the Staffordshirc makers il
Is difficult 10 get orders executed within any rea-
sonable time, although inmnny instances 20 shil-
llngs Pert3nadYmee would be paid by the buyers.
The views Of this writer seem to us sensible
and well supported by any fair and intelligent
survey ri financial aud business affairs In all
the elements of wealth and comfort the country,
nay, the world, was never in n better condition.
All the efforts of panic makers cannot produce
more than temporary stringenoy. writer in
the New York journal of Commerce, whose I'M
derstanding Of the subject is youehed for by the
editors,giye the following exposition OF the means
and liabilities of the country.
Looking nj the general specie movement, we
find that the country has been adding steadily
and largely to its stock. The deposits at Mint,
aud exports since Jan, 1852 are as follows
lSi2 1913