American union. [volume] (Morgantown, Va. [W. Va.]) 1855-1859, 1859-02-04
COMMERCIAL INTELLIEHCE.

COMMERCIAL INTELLIENCE.
We live in an age when it is fashion
able to borrow money. The Govern.
mcnt of the United States has come
into the market for the snug little sum
of ten millions, the bids for which we're
opened at Washington Monday last.
Speculation has been at fault to know.
how much premium would BIO given for
the privilege of advancing the money.
A previous loan was taken AZ for
a five per cent. stock having fifteenycars
to run; since that time change has
come, and the bids range from one to
three per cent, the loan being taken
at a fraction over two.
An impression prevails that money
is-to be in greater demand. There is
much reason to believe that a change
is near. Our Banks are greatly ex-
tended ) money has been plenty for
more than a year; Foreign goods are
selling at high prices, and an increased
importation may be expected. In fact
SO extensive have American orders
been in the European markets, that
styles of merchandise, suitable for the
country, have advanced from ten to
fifteen per cent. We are buying free
depending upon the country to take
the articles from us. 1t is said that the
Jews are a peculiar people. The same
remark will apply to US /; we are pecu-
liar. We buy and sell, run in debt
without counting the cost. During the
winter and spring of 1857 our mer-
chants did large business, East, West,
North and South; to all appearance
the country was upon the very pinnacle
of prosperity. We had large crops, and
obtained high prices; notwithstanding,
the evil day came as whirlwind, sweep.
ing over the land, carrying destruction
in its way. Two years have not yet
elapsed and we are madly extending
far beyond the fatal period. We
have large ships light ballast and
sails set reaching to the sky. Disap-
pointment is the common lot of man,
the rolling Prairie has failed to bring
forth Of her abundance, and the people
of the West must practice economy or
encounter bankruptcy. There is no
escape from this conclusion, and he
who buys or sells in that vast district
must await the movements Of the water
for his pay.
Merchants from the South and South
West are hero laying in their Spring
supplies. Business has opened early,
and large sales are making.
There appears to be some trouble
brewingin Europe. France is restless,
wants to do something, cannot tell what,
must have fight with somebody
Cuba is said to have attracted her at
tention, not that she has any DISPOSE.
ton to acquire it for herself, but to
keep it out of our hands.
The Europa reports frmncss in wheat
while flour is lower. Our people are
getting up speculationin breadstuffs,
employing one man to buy, and keep
two in the market selling at the same
time. This is common thing among
spectators, to relieve themselves from
a heavy stock it is called changing
the sack, or who holds the little joker.
These people when dealing with the
world support countenance marked
with dignity, look wise, claim to possess
some information not known to the
public, drop word in relation to
short crop, and o war in Europe. The
crop is short, but we have an album
dance more than can be consumed
twice before the next harvest. We
advise the farmer to avail himself of
this opportunity, and dispose Of his
surplus; do not waitfor further rise,
in doing SO disappointment will follow
you. Spectators are using the Banks
to carry the produce Of the country.
In little time tho Banks will call for
their money, and then, the produce
must find a market in Europe.
There is but slight change in the
Bank report of Saturday last, small
increase in loans and specie, and like
increase in circulation and deposits. -
The importations are very heavy, and
must sooner or later tell upon the coun-
try.--N !, Gir9nisig.