Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1858-10-18
Hon tie New YORK Poi 1

GoNDITIoN OF TUE CouEgRY-A foneu. Poll
tics and tie Crops. The news from Pennsylva-
Mails not the only subject for congratnlationI
today with the American people: Just one
year ago the banks Of this city suspended specie
payment, baving in their vaults less than So,
eo0,0o0s Property of every description was
Deprecated to the standard ola previous gene
ration; the soundest securities were selling at
from twenty to forty per cent. below theirusual
current value; bank stocks, commonly regard
ed as the safest and zmost reliable Isihyests
ments; were. by many supposedly to beworthless;
money commanded from three to four{per cent.
a4monthlOn the bestsecuritieS, and every Rhere
commercial and financial disaster " ere, hnrrying
the most prominent merchants Of the country
into bankruptcy
To-day, howschanged the scene! money worth
per annum what then it cost per month; sound
securities at their full value, or rapidly alyanc
ing TO II; the banks groaning with more specie
than they ever contained before, = with cor
responding abundance at all the great centres of
trade IN the Old World, while the business of
the country is gradually returning to its old
channels, and moving forward upon a sure
and sate basis: We say sure and safe, for
what we regard as very conclusive reasons
In5the first place, the importation this year
have been some seyenty-fiye millions of dollars
less than the year previous, and the liquidation
OF foreign indebtedness has been steadily going,
on. While the wheat crop has been in most
parts Of the country serious failure large
quantity of old wheat remains in the farmers
hands, and the corn5cTop promises throughiits
quality, to equal ins value any crop Of the past
few years, though probably measuring less than
the crop of last syear; The cotton crop of the
present season now promises to be very large
one, andin consequence of the favorable Efnan
clai condition of Europe, and the opening, of the
Chinese empire to more unrestricted trade it
will probably produce the largest sum ever rea.
llzed from the crop of any season. The steady
production of gold in California, and the new
discoveries ofthat precious metal at Fraser Riy-
er, will also have their effect in giving new
and healthy impulse to all the industrial, COM
mercla and financial energies of the country.
DOUBTLESS many are yet suffering from the
pinch Of last year; but.putting their losses at
the highest, the country has gained more than
1t lost by the reyulsion.j Tthas taught merchants
lesson about Specializing in railroads and wild
lands with their business capital; it has opened
the eyes of multitudes to the folly as well as sin
of stock gambling; it has created a healthy sus-
plclon of all corporate property not,lnanaged by
men of probity and character; it has relieved
the country of a mountain of debt which was
rising higher and higher, and which was rapid.
y destroying legitimate business. by placing
fictitious prices upon all marketable commodie
ties; IN fact has brought the country to a con-
dltlon of good sense and prosperity, which
should be the subject of universal congratula.
ton. Indeed, Gov. King might with great
proprety1 have selected to-day for the annual
thanksgiving of the State
The report to shows q in the city banks,