Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1857-10-28
From the Charleston News.
EXCHANGE. CONFIDENCE.

The uncertainty and extraordinary vacllatlons
of the price of exchange in New York would
indicate either the inability of that market to
forward the crops by the purchase OF the ex-
change drawn on them, or n continuation OF
panic and distrust of European steadincSs, proba-
bly, both. Reduced as is the rate OF exchange
in the United States, to the great loss OF the
producer, still everywhere there is the evidence
that it is sold ami that produce is going forward.
The work of relief then goes on, however at
present limited and gradual. Any progress
whatever must receive acccleratiln from the I'LL
creased means and confidence whichit produces.
! 1t must however take months to achieve any
positive results, and the American people must
consent to move slowly. y great shock has
been given both to monetary and commercial
relations. Great apprehension Of the danger Of
expansion efter reyulsion, produced by con-
traction. and ending in universal diStrust, the
doubt cf safety in commercial operations tie
sacrifice Of immense amounts of merchandise,
the boarding Of specie, the fall OF produce and
the prccariolls condition of monetary affairs in
Europe, cannot be overcome or dlSentansied IN
any summary mode. On the other hand, the
restoration of confidence, The chief element Of retie,
would 60 far, aided by the amount of specie in
Americl, equal to what it usually has, to lacill-
tate the operations tending to relief. This de-
sired confidence could not exhibit itsell in more
available and effective forms, than by re-dc-
post in the Banks OF the specie drawn from
them, and the nhcSitatins purchase, at fair
rates, of produce bills. Both may safely be
trusted; both would be decisive in securing re-
lief; and both the best basis of q desirable bank
expansion.
I'VE are not of those who, on the one hand,
apprehcndcd an almost universal rum, or OF
those who, on the other, anticipate prompt re-
turn of easy and bright times. We believe that
the United States can and will do much to bring
their crops into the market OF the world at fair
prices, and that Europe can lend prompt and
steady aid in consunnating this end.
The importers OF New York are no doubt hard
pressed to obtain the means to make their neceS,
sary remittance to Europe, and to obtain the
gold whereby to take goods out OF bond, oi
which Il large quantity must be locked up IN tic
Government warehouses. Hence the low price
OF exchange, of which they arc the principal
BUYERS. The legal difficulties which enbarrlss
the New York Banks and the hesitation they
mist feel in lazarding any operations, must also
check their entering the exchange market. In
til European capitalists, therefore, enter thelra-
duce and exchange market, which now furnishes
an unbol,n,lel cld of sure profit to them, bat
little stcadincsS may be expected.
Tie embarrassment Of exchange is practical
illustration of how desirable it is that the COM
mcrcial and financial relations of the South with
Europe should be direct, and released from de-
pcnlency on Northern enlrorlmSi.
MoyEY AND MARRIAGES S.-A New York let
ter writer says it isa significant fact, that The
list of marriages in the city Journals since the
commencement Of the revul>inn has srowli
:; small b. degrees and beautifully less" That