Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1856-10-08
RICH MOND WHIG.
Ftom a. Lonaon Time,. S.pt le.


From n> London Times, Sept 10.
The relations OF the corn and money market. ar. .
picking ss any celest. phenomena Perhaps the more
general rule is that OF contrsres vet summer or war
which sends corn up sends the funds down. AID when
hns 20 down shares oi course follow ~ith still more y-
eni oscillations This is very ineligible state OF thing,
Ia the Dutch barometer the sppsoac Of fne weather
the lady in the silk shawl comes out and her comp.noo
Ia the cloth cloak goes in aud versa whsn il threat
"n. But the tvo markets not always the Castor
and Polax Of the ornament for sometimes tbey ar. hath
eaisd to Heaven. both hurled beow in reluctant
ps'onshp IL has been lately For about t-o month.
~-s ami Three per Cents nobody could say Why have
been coming together and tho other day both pre
"'ed 10 their respective idmirer very lagubrious as
peet Within lev days they have ulost simultaneous.
~ vet neither with good reason taken to rise ard
the recovery in bath cases has BEEN
b and wheat 5s aquarter, These are no We,
great fluctuations indeed, but the h9.is are puz
ked {" ind out satisfactory reason Reasons of co,r
,sn be earily assigned but h s easy 10 ssy .bv
easoo should operate at time and no, NJ snot.,
N"oods could deny anouth ago, u a fortnight ago
st trade was fairly prosperous; that there sr
sect oi abundance thst seemed be In good train Tor
tne settlement OF various differences tb.i tb. Ill
feturns were more favourable than ever that there -
noney enough coming from the gold fields and in the
bsnk oi England there no suc, ~ h;ll;
nd share- dropped and dropped day after day some
d these were speculative sales and gh a. hal
een predicted the settlement day the date Of the re-
'cton Not reason was given that had not op-r,t.d
r been fully expected to operate months and months h.
"re Even the demand for money abroad which cop.ti
"ed the immediate drain the market had been dis
hcuy loresee n the Necessary result even OF
Enterprise and Of that general squaring of .ecoup,s b,
would arise at the termination Of war The dr, of al
yer to the East admits Of ready explanation a w,s
etday pointed out ia another part of our coumns n,
In huxf
We could not obtain Ia France AMI from our
% with lndis being disturbed by the pay ments Of
ais AWAY
True, there another csnse which for time ma re
recy affected the shares OF all mercantile assorinon
md that was the failure OF the Royal British Bsnk Tbs
appearanee OF l5OOOOL or twice that sum- in i'm
rudeht advances, seems itself slight affair MANY
private failure discloses much larger .feiencv rL;
merely the common Of halfa-Iozen acting
ners under the specous name Of directors paying
aud brakes with the money their sleeping and rer,
simple copartners. To say that they helped Themselves
ma their friends from the TILL till the till was found IN he
mpy would be All unfair way of stating the fact though
he result was much the same, and will generally follow
Shen directors not OF the highest stanp Tha-
,r, however dozens OF such banks a. well a.
and other companies, the shareholders OF which would m
puzzled TO say what they know OF their directors What
reason they have To trust this that man. and whether
hey would think loook note perfectly safe In his hands
" not There are known principles OF human nntur.
ery applicable to these Cases There IL real security
gAnst raud or commercial practices leading To the
SUIT except Character Ia the long character il the
nly dependence and Of course il point on which n
lie have TO Judge Tor themselves The common error IL
ihnk eleverness sharpness touch roguerv and even
light share IN questionable but
better than dull compound Of scrupaous boDour and
lain common seise. IL is rather renal krbe however
we speak without the slightest reference 10 the recent
ailure-how often the men who have suddenly surprised
he world by iHghtiul defaleations have never had
character for exact and delicate honour and have av.n
'Vowed different code of morality. They who trust
'dch men deserve to lose their money. What is more
Nn 81 fl1ar.t l. .fN
fou are absolutely trusting with your money bscomas
a. say the least mere gambling; for there Is no real diff
erence between an ivory cube which when thrown up
nto the may fall this side or that IL il mnosshl 70
ay Shich, and man concerning whom YOU cannot 81 '
neither he will speed your l,OOOi IN proppiug up
trends bad speculation put some safer ana less
private use Ii the drawback of associations that
cy are IN the hands of new men, who NAV be honoura.
e aud prudent enough but are not certainly known 70
nch Such are the general principles applicable to the
mbect Nevertheless, there is 4 large class which is
mis- taught by experience, and which prefers s own
oerienee to that of others When therefore bank or
Way company is suddenly turned inside out the SHOCK
the weaker portion OF the public is all the greater from
heir habit OF only learning by such catastrophes The
'arm then spreads fast enough and scarce ointsock
ank escapes suspicion because appears TO have been
l-conducted. No doubt the failure had its eec
On shares OF all kinds aud that 10 unreasonable extent
A TO fluctuations OF the market the recent l
Ineligible enough. II owing TO the ascetsined
goodness OF our harvest, which, after period of eIce
i've heat followed by rather rain than was
10 oe aounuAit well got The
rise is another question: and ascrbed to the damage
lone to the French crops by the inundaon and to the
aet that the harvest generally in the of Europe be-
ow the average. IL is presumed then that we shall not
supply our wants with such facility heretofore or with
neh convenience 10 the usual Of trade But sure
" this Inconvenience mrst be exaggerated when the A.
nercans are at this moment calculating not what they
ran suppy-ior on this point they appear think their
resources boundess-bUt what can take Free trade
has given such encouragement agriculture in the Wes
tern States that have only give the word and an,
quantity is forthcoming So say the American papers
though is not unlikely they may ud the indefinite soon
CT iahomcd than they expect But at al events il ap
pears that the important of Rrtish manufactures into he
States has this been much than usual and there
now some anxiety lest there should not be suieien,
demand for their agricultural produce balauce the &C.
count w. then, We are to trust to American pecuatious
scarcity is about the last thing need app ehend.
What then makes the present rseY There is Just nov
demand in excess OF the supply. That Is sufficient uc-
count OF the matter though perhaps the whole ac
count We know, however, Of no adequate reason. II
may be that farmers having recently sold wheat at Sos
and being flush Of money cannot make their minds
part with IL at 65s There be deeper reasons for the
present state OF the market But farmers have the gam,
| IN their own hands. They sell at a remunera
tive price. II they prefer to hold for higher and
ultimately reduced TO accept less than what they nov
refuse, IL will be their affair.
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