Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1862-07-25


inclusive From the papers received take the follow
ing extracts
FINANCIAL PROSPECTS or TIE NORTH.
The New York Herald (noney artcle) Of the 1e'h
iust in discussing the probable effects Of the additional
issue Of $3.50 600 900 legal tender notes, recently
thorizsd by the Yankee Congress- says:
Ever sirce the commencement Of the first issue OF
government paper the rate Of interest for the use Of
money has ruled abou; ~ per cent per snnum
running as high as 6, and occasionally falling to
q per cent So loog rate be kept at or below
per cent the government Can borrow at per cent all
the money rQuires-haI TO say, long capital
ISIS continue 10 have faith 10 tho wisdom and integrity
Of the federal administration And in their ability to bring
the war d successful termination. To say that the
rate Of interest will be kept al very low point BY the
continued issus of legal tender notes is Simply TO say
that Congress and the Administration sre endowed with
common sense Auy circumstance or combination OF
oil cumsauces thA slCud retard the sale oil government
bonds would render demand notes the sole meals
Of prosecuting the war, and the question OF the
c)untrJ's powers Of absorption would be put TO
q thorough and perhaps pritoTs tsst. Bat tie
truth is that there Is scarcely any limit whatever
to our capacity in this respects, IN case of an eX
cessye issue OF paper, the equilibrium would be main
tanned by the inc eased prce of labor aad Of nearly
every species Of property, including gold, real estate
Agricultural produce aad dividend paying securities
pOSpeCt u 90 as tue gONeTl-
nent will remain borrower and, for the purpose Of
curing loans OF moderate rates will retain control OF the
money market through issues OF legal tender paper and
will keep the rate Of interest between three ald Elk per
cent An occasional reverse 70 arms may shake the
faith Of the tmid and cause 3 momontary decline 10
prices and some activity in the money market but so
long as the war Continues and the expense OF il
dnues to be betrayed by the policy now pursued,
whether Il be well i'll conducted, money must be abun.
dau aud the general course Of prices Of all kinds Of
property must tend upward.
CINCINNATI.
The Cincinnati Commercial of l9:h inst, says:
Since the redoubAbs Morgan Grst appeared in the vi
ciny OF Lexington, this people have been much ex.
cited aud altogether without The events Of
day before Yesterday and the tblu.and wild Tuuors Al
speculaons which circulated yesterday, ireted the pub
lie mind into q CONDITION bordering on frenzy. Many
good people seemed frightened while the mel ,rity
Tested decided symptoms OF uncGsnes3. TIE case WIS
more aggravated by the fact that IL impossible TO
certain the strength OF the guarAs, and that march
OF thirty hours would bring them to the suburbs Of Gov
cgol These conditions, together with the uncertainty
which involved the fgat at Cynhsna, and the fugitive
reports that many who vent from hs city ald NeWpr
70 sss Kentucky friends mad been siain, created
turmoil and confusion Whci before Witnessed
here.
The earliest reports we're q1ite gloomy, and we'll cal
cuAted 20 excite Apprehension l. was stated, the
authority Of railroad Conductor on the CoVngton an
Lexington Railroad, that after the Unonsts OF CynthiAna
had surrendered ThursdAy evening" the UOniederAtts
d ed tvs Eol,eys into the company which went from
Newport ana killed nearly oil Of them. This statement
ran through various notifications during the dsy pro-
ducing or lees excitement and distress. During
the afternoon It waa satisfactorily stated that Oap
GAS had stood by hs gun until the town surren
dsrcd when no disappeared 1. also reported that
our loss 10 killed aud wounded was about thirty; but il
Is impossible ascertain whether this 10 reliable. We
understand that two eous CT Daniel Vol, OF Newpor',
we're killed and OF Mr.. Constance brewer Of tie
sans city, vas captured. Captain Moore, of EnguO
presums that the II pound hoWzer and the four Ace
Department borsss which vent from this city Cai
tured by the enemy.
Meantime hope that Oynihi,na bsi not surrendered
wss Inspired by dsspsch received In the morning by
United States QIlrteTmss.er, Capt Dckerson, asking
Tor more aud ammunition for our forces at Oynth
anG But Capt Dckerson, suspecLipg that Morgan was
attempting something smart instituted inquiries and
was soon satEHsd that the requston was bogus.
Meantime the Mayor received dispatches which caused
him ID summon the Whitfield Rhs for duty, but there
proved to be occasion for them. The streets we're full
Of excited people all discussing the neWs and all appa
rently eager to do something's but helpless, because
there was no head Dozsns Of young men we're seeking
officers 70 recruit for temporary service, but appropriate
had not been made to accommodate them
Some desired to know for what length Of time they
would be required TO absent themselves from home
othera DESTROYS learn Who would provide for their
tory answer.