The Camden weekly journal. [volume] (Camden, South-Carolina) 1853-1861, 1855-01-16
1lHrrllatlrulu.
Money Matters.

The money matters Of this section of ou
= country have, weythink, a somewhat brighten
ed aspect. The Bank dividends distributed
:. since theifrstof January to the extent of neal
Z $780, 900. have passed rapidly. from hand tc
hand, and have extinguished large amount o
Indebtedness. In anticipation of payments to
be made on the first of January, large sums OF
money were held by private individuals. These
. sums, upon the occurrence of that period, have
been turned loose, and are also doing their
work in the process Of -dseneagcment The
cotton market has been fairly opened, and
holders consenting to-loss, which it is tolera.
: bly, certain must be realized withouta postpone.
ment Of sale to very extended period, hare
sold that product literally. The proceeds OF
crops sold at an earlier period Of the season,
and which we're taken to the country, are he.
ing returned through tie hands of country
merchants, and all these causes combining 10
the same result, have occaSinned, we think,
quite an assured and upward tendency to every
interest in our city. 49,
Our Banks, also, are acquiring greater con-
fidence and independence. short time ago
there was quite panic in some sections OF
the West in reference to the condition Of one
or two of our country Banks, and bills were
in the way Of being returned with con>idera-
BILE rapidity; but some of our best established
banking institutions perceiving the movement
and knowing the profit that might he made in
the redemption of bills which were perfectly
good, at any depreciation which might have
occurred, ISSUED orders to their agents to buy
their bills as fast rs they were presented, and
the panic ceased almost Immediately; and
there is, perhaps, an unusual demand for the
bills Of the Banks of South Carolina through
ont all the Western and Southwestern States
Relieved, therefore, Oy the more rapid circu
lation of money, and still further relieved by
the greaterabili,Y Of the Banks to extend ac
comnodatien, cur community is in mnch
better condition to weather the storm than
could reasonably have been anticipated.
We are much inclined to the opinion, that
the eyaharrassments of this State, and Of the
South, generally, are pr"portionably less than
they are at the North, and among the mercam-
tile interests OF Europe Upon England was
FIRST poured the golden treasures of@AnStralia,
upon New York were poured the treasures
of California; from these centres radiated the
enhancement Of values and the excitement such
disturbing causes are always calculated TO &c
casion; and this excitement was rolling upon
the South with great rap,diiy, when the war
in Europe broke out, and arrestlLg CONNER,
cial speculation in England and the Northern
States, arrested, to great: extent, its further
development at the South. While it is true,
therefore, that much property had acquired a
speculative value here, it is very certain that
this increase was not so great as it, would have
c.Lo hoI pn
and not by far so great as for several years IT
continuedto be, prior to the great commercial
crisis of 1887. This being the case, we must
expect to feel the pressure for some time long
er. A year or two OF present low prices "l
of cotton, land we see no reason for improve
meIit, for a time at least,) will be necessary to
emancipation from embarrassment incurred,
but thereEwill be ultimate redemption. and very
few men will altogether fail. The liabilities OF
fewlare beyond the means which year or two
of retrenchment and economy will enable them
TO control; and considering, therefore, the
tendency. of affairssand the effects resulting
from the commencement of hostties in Eu-
rope, while we deplore the consequences OF
that misguided measure to the cause of hu
manity, we are not prepared to say that it has
"
of excessive pecnniary distress and suffering.
We are also inclined to regard the ocrur
renee of the yellow fever in Charleston as less
disastrous to our commercial interests than IS
usually supposed. The reaction in the com
mercia world, commencing at the North and
in Europe, had scarcely reached us before the
period of its breaking out. There was q gen
eralSconviction that thezbusness Of this city
particularly, would be- unusually large; ant
from, the existence of cholera, iu most Of the
Northern cities, we have little doubt but j
would have been large beyond all precedent
and if SO, and the merchants Of oursc city hat
become to greater degree extended betweel
: 1he claims of merchants elsewhere and the OBJ
Iipations of purchasers from the country,
might have been extremely difficult to sustai,
the standing of the city. In anticipation Q
szexter i've business, orders early in the summe
were extensive, but they were much curtaile
before the season. closed. In consequence
the fire ,iG Hayne street, which occurring y
March. soccasioned not only the purchase b
the insurance companies of all those stocks
goods in theShands of the sufferers, but thgs
of alarge portion Of the stocks held b$sothe
jobbing houses in The city, our stocks of good
are not large our Indebtedness abroad is les
thansis usual at this season of the year, Will
the money owing from the country, thoug
large, and excessiveiy difficult of collection,
. lesslthan, under other more favorable circum
stances might have been expected. 5.
As a SET off to this, however, il .mnM Be ri
membered, that withouttt fegergin Ebarlesto
and Savannah, the cotton ofopr sosn. 2oul
~ -