The Evansville daily journal., 1857-09-22
EVANSVILLE, IND
The SrAre OF TRAbE.-raknc the

The STATE OF TRADE.-Takmg the
rates Of Exchange as the criterion of the
balance ,op trade, it would appear as If
the universal complaint that the present
pecuniarv difficulties were the result Of
excessive importations, was not well
f,un,led. Exchange on England is now
only lo6 to l071 the latter for Bank
er'>yB'lls-actdal par being reckoned at
10ola with one per cent. for 6o davs
interest there is loss from to 2 per
cent in exchange. which would afford
profit on the importation Of gold from
England.
The loss on exchange on England is now
operating as an impediment to the ship
meHt nf hreadSiuffs, and we see it stated
IN the New York papers, that the buvers
of gram ami -four would order over the
specie instead of drawing bills There
have been but Few and very small ship
m,n Of specie to England, for several
weeks. II does not appear from these
facts that the country is much indebted
for the excessive amoant of goods we
have purchased abroad. They appear 10
have been settled for ;--thev have proba
bly been pad for in the high priced cot
tons that have been exported, and which
are estimated to have realized to the
country over Sl5O.mO.0O for the last
years crop The South Is extremely
easy in its pecuniarv condition The
chief liificulty appears TO be, the heavv
debts of the Nnrthv est To the East. The
principal Oyertradlng seems to have been
in the Western States. who have teen
engaged IN costly ente priSeS and in
oriinate sgeculations and the people
dludel with imaginary anil prospective
profits. have lived extravagantly, while
in truth, with last vear'S short crop. they
hal hut lttle TO export to paw or what
they were buying Exchange between
the South and East iS low; and also he
tween this country and England "a nd
If exchange is n reliable Indicator Of III,
balances Of trade, il would appear as !
our troubles have not originated in tht
foreign commerce oi the country. II tbs
South has been extrayagant and impro
vIdrnt. she has hal the good luck 70 Oh
tain such exrrbitant prices for her pro
ducts. shat she has brep able to pay he
sl,are .Ui the debt, without feeling tn
pressure The West has imprulenfly
been extravagant in her expenses. nn
fortunately, during year y hen she ha'
hnt lutte tn sell and when all her gain
"a ge ~ they NAV be eStimated-hav
been IN the rapid apprecIatihn of ne
land. which is value that cannot b
shipped an made exchangeahle to 'iqIi
d,te f,~sis1 l,bts The only d range
ment of the exchanges of the countr,
appear 10 he between the West an EaS
Indicating a heavy balance against tn
Vest One of the most unfortunate Gil
cumStanceS in the prospects before u
is the fact that the South are not likel
to take their usual quantity of hrest
stuffS and meats rom Us. and which the
are in excellent condition to huv. il the
were in need Of them. The atundar
crops or corn and wheat at the Sout
will make them poor customers to
this season Georgia. Alabama and Sou
Carolina. that have in years past pu
chased our Hour and corn through Ne
Orleans. a'e this year large exporter
In Y Orle nSat last dates g. d mont
notes were discounted in the street at
per cent and EIStern sight exchan
was l per cent. premium. and GO d
Is were dull at 2 to 2ls per cent. di
count.